Technical Actuarial Standards (TASs) - online learning materials
Actuaries must comply with standards produced by the Profession and the BAS. BAS is responsible for setting technical actuarial standards (TASs) and the Profession is responsible for setting and maintaining ethical standards, or Actuarial Profession Standards (APSs). Each party is responsible for the content published on their own websites.
What type of TASs are there?
There are two types of TASs:
- Generic: which applies to work falling within the scope of a/the Specific TASs, Reserved Work and any other work which is presented as complying with the TASs; and
- Specific: which is any TAS which is not designated by the BAS as being a Generic TAS.
What TASs are in force?
The following Specific TASs are now in force:
- Pensions TAS (dated October 2010, effective 1 April 2011).
- Insurance TAS (dated November 2010, effective 1 October 2011);
- Transformations TAS (dated December 2010, effective 1 October 2011);
- Funeral Plans TAS (dated February 2011, effective 1 October 2011).
The following Generic TASs are now in force:
- TAS M (Modelling) (dated April 2010, effective 1 April 2011)
- TAS D (Data) (dated November 2009, effective 1 July 2010)
- TAS R (Reporting) (dated November 2009, effective 1 April 2010)
Learning materials available to help members understand the TASs
The Profession is developing a collection of online learning materials relating to the technical actuarial standards. The following are currently available:
- TAS awareness session (mp3 audio recording, 21 minutes)
Alex Marcuson, General Insurance Convention 2011 - Applying the Insurance TAS - early reports from the front line (mp3 audio recording, 53 minutes)
John Instance, Life Conference 2011
Claiming CPD
The time you spend viewing the online TAS learning materials can count towards your CPD requirements if it is technically or professionally relevant to your practice area.
If you are a Category 1 member, the activity can be deemed verifiable if you partner with another member when viewing/listening to the video/podcast and then verify each other's CPD entry. Verification could be proved either by keeping an attendance register of those present, or via a confirmation email if that member was picked in a monitoring exercise.
If you are a Category 2 member, the time engaged in viewing/listening to this resource can qualify as private study on the condition that you include a learning outcome within your on-line CPD record entry. The learning outcome should summarise the benefit that you derived from that activity.
The maximum amount of time which can be recorded as CPD is equivalent to the duration of the online resource.