Canadian Institute Of Actuaries - CIA

AAA

DEFINITION of 'Canadian Institute Of Actuaries - CIA'

The Canadian Institute of Actuaries, or CIA, is an organization of the actuarial profession in Canada. The CIA's vision is to for actuaries to be recognized as the leading professionals in the financial modeling and risk management fields. It is the Canadian version of the AmericanAcademy of Actuaries.

INVESTOPEDIA EXPLAINS 'Canadian Institute Of Actuaries - CIA'

The Canadian Institute of Actuaries was established in March, 1965, by an act of Canada's federal Parliament. The organization requires members to reside in Canada and to belong to an approved actuarial organization. The institute is also responsible for issuing the Fellow of the Canadian Institute of Actuaries (FCIA) designation to actuaries, which is a requirement under Canadian law for practicing actuaries.

In Canada, there are regulations that require non insured pension plans to be valued once every three years by an FCIA. In order for an actuary to be designated an FCIA, the actuary is required to pass an exam issued by the Society of Actuaries, another professional actuary organization in Canada, and Practice Education Course (PEC), which is administered by the CIA.

RELATED TERMS
  1. American Academy Of Actuaries - ...

    A group that provides analysis to aid in public policy creation, ...
  2. Actuary

    A professional statistician working for an insurance company. ...
  3. Actuarial Adjustment

    A revision made to reserves, premiums and other values based ...
  4. Actuarial Analysis

    The examination of risk by a highly educated and certified professional ...
  5. Distribution Clause

    An insurance policy provision which determines how the coverage ...
  6. Insurance Consortium

    A group of businesses or organizations that join together to ...
RELATED FAQS
  1. What are the restrictions for naming a given individual as my contingent beneficiary?

    Life insurance is an important part of estate planning. It allows you to ensure that you can financially take care of the ... Read Full Answer >>
  2. What debt/equity ratio is typical for companies in the insurance sector?

    The debt-to-equity ratio is calculated by dividing total liabilities by total equity, and it is used to measure leverage. ... Read Full Answer >>
  3. If I have only a limited amount of time to study for the Series 6, what should I ...

    The Series 6 Investment Company and Variable Contracts Products Representative Qualification Examination is administered ... Read Full Answer >>
  4. How does the risk of investing in the insurance sector compare to the broader market?

    Due to economic, demographic and interest rate trends, there is less risk when investing in the insurance sector compared ... Read Full Answer >>
  5. What is the main business model for insurance companies?

    Insurance companies base their business models around assuming and diversifying risk. The essential insurance model involves ... Read Full Answer >>
  6. Who are Berkshire Hathaway's (BRK.A) main competitors?

    Led by renowned investor Warren Buffett, Berkshire Hathaway (BRK.A) is involved with multiple sectors of industry, facing ... Read Full Answer >>
Related Articles
  1. Home & Auto

    Insure Your Future With A Career As An Actuary

    If you've got excellent math skills, they can add up to a lucrative career as an actuary.
  2. Personal Finance

    Using Economic Capital To Determine Risk

    Discover how banks and financial institutions use economic capital to enhance risk management.
  3. Active Trading Fundamentals

    How To Convert Value At Risk To Different Time Periods

    Volatility is not the only way to measure risk. Learn about the "new science of risk management".
  4. Options & Futures

    An Introduction To Value at Risk (VAR)

    Volatility is not the only way to measure risk. Learn about the "new science of risk management".
  5. Professionals

    Indexed Universal Life Policies: Watch These Risks

    By properly vetting indexed universal life policies, advisors and savers can avoid contracts that could prove overly costly over the long run.
  6. Investing Basics

    The Top 5 Skills Every Actuary Needs

    The actuary profession is growing fast. Here's a look at the majors and top skills one needs to become a successful actuary.
  7. Professionals

    Obamacare: Can it Be Repealed?

    Attempting to repeal Obamacare is a yearly ritual for House Republicans, but trying again in 2016 or beyond could create more problems than it solves.
  8. Personal Finance

    What Skills Do You Need For An Investment Banking Job?

    Aspiring for the best paid investment banking jobs? Here is the list of top skills that investment banks look for in job candidates.
  9. Mutual Funds & ETFs

    Top Skills Hedge Funds Look For In Job Candidates

    Lucrative salary, high perks, and best quantitative brains at work. What are the top skills a candidate needs to get a job at a hedge fund?
  10. Insurance

    India's Two-Child Policy

    As of 2014, 11 Indian states have passed laws to restrict Indian citizens from having no more than two children.

You May Also Like

Hot Definitions
  1. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  2. Productivity

    An economic measure of output per unit of input. Inputs include labor and capital, while output is typically measured in ...
  3. Variance

    The spread between numbers in a data set, measuring Variance is calculated by taking the differences between each number ...
  4. Terminal Value - TV

    The value of a bond at maturity, or of an asset at a specified, future valuation date, taking into account factors such as ...
  5. Rule Of 70

    A way to estimate the number of years it takes for a certain variable to double. The rule of 70 states that in order to estimate ...
  6. Risk Premium

    The return in excess of the risk-free rate of return that an investment is expected to yield. An asset's risk premium is ...
Trading Center