Canadian Institute Of Actuaries - CIA


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.

BREAKING DOWN '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.

  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. Investment Banking

    A specific division of banking related to the creation of capital ...
  6. Crowding Out Effect

    An economic theory stipulating that rises in public sector spending ...
Related Articles
  1. Personal Finance

    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. 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".
  3. Personal Finance

    Using Economic Capital To Determine Risk

    Discover how banks and financial institutions use economic capital to enhance risk management.
  4. 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".
  5. Professionals

    Credit Risk Analyst: Job Description and Average Salary

    Learn what credit risk analysts do every day and how much money they make on average, and identify the skills and education needed for this career.
  6. Insurance

    How Life Insurance Works in a Divorce

    Learn the implications of life insurance in a divorce situation, and identify the steps you should take to ensure your policies are sorted out post-divorce.
  7. Entrepreneurship

    Creating a Risk Management Plan for Your Small Business

    Learn how a complete risk management plan can minimize or eliminate your financial exposure through insurance and prevention solutions.
  8. Insurance

    What's The Difference Between Medicare And Medicaid?

    One program is for the poor; the other is for the elderly. Learn which is which.
  9. Entrepreneurship

    Identifying And Managing Business Risks

    There are a lot of risks associated with running a business, but there are an equal number of ways to prepare for and manage them.
  10. Insurance

    Cashing in Your Life Insurance Policy

    Tough times call for desperate measures, but is raiding your life insurance policy even worth considering?
  1. Do FHA loans have private mortgage insurance (PMI)?

    he When you make a down payment from 3 to 20% of the value of your home and take out a Federal Housing Administration (FHA) ... Read Full Answer >>
  2. Does renters insurance cover water damage?

    An all-perils renters insurance policy does cover water damage, less the deductible, to personal property if the damage is ... Read Full Answer >>
  3. Is Canada a developed country?

    Canada is a developed country. Countries that are considered to have developed economies exhibit strength in typical economic ... Read Full Answer >>
  4. Does a Flexible Spending Account (FSA) cover massages?

    Flexible Spending Accounts (FSAs) cover massages for certain medical treatments. These treatments must be approved and prescribed ... Read Full Answer >>
  5. Does a Flexible Spending Account (FSA) cover Lasik?

    Flexible spending accounts (FSA) can be used to pay for qualifying LASIK procedures. LASIK is not the only laser eye surgery ... Read Full Answer >>
  6. Are Flexible Spending Account (FSA) expenses tax deductible?

    Flexible Spending Account (FSA) expenses are not tax deductible. The U.S. Internal Revenue Service (IRS) states you cannot ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Barefoot Pilgrim

    A slang term for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market. ...
  2. Quick Ratio

    The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet ...
  3. Black Tuesday

    October 29, 1929, when the DJIA fell 12% - one of the largest one-day drops in stock market history. More than 16 million ...
  4. Black Monday

    October 19, 1987, when the Dow Jones Industrial Average (DJIA) lost almost 22% in a single day. That event marked the beginning ...
  5. Monetary Policy

    Monetary policy is the actions of a central bank, currency board or other regulatory committee that determine the size and ...
  6. Indemnity

    Indemnity is compensation for damages or loss. Indemnity in the legal sense may also refer to an exemption from liability ...
Trading Center