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 Analysis

    The examination of risk by a highly educated and certified professional ...
  4. Actuarial Adjustment

    A revision made to reserves, premiums and other values based ...
  5. Noncancellable Insurance Policy

    A life or disability insurance policy that an insurance company ...
  6. Member Month

    The number of individuals participating in an insurance plan ...
Related Articles
  1. Home & Auto

    Insure Your Future With A Career As ...

  2. Personal Finance

    Using Economic Capital To Determine ...

  3. Options & Futures

    An Introduction To Value at Risk (VAR)

  4. Active Trading Fundamentals

    How To Convert Value At Risk To Different ...

Hot Definitions
  1. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  2. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  3. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  4. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  5. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  6. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
Trading Center