Society of Actuaries (SOA) Scholarships | Actuarial Academy of East Africa

Society of Actuaries Scholarship Program | Society of Actuaries (SOA) Student Success Program

The SOA Student Success Program is open to all Kenyan actuarial science students looking to pursue an actuarial profession career.

Purpose

Introduction

The Society of Actuaries (SOA) Student Success Program is an initiative designed to introduce high- performing math and science students to the actuarial profession in developing markets. It aims to increase the number of actuarial science students pursuing academic careers and achieving actuarial designations. The program supports outstanding students who demonstrate academic excellence in target areas.

Goals

Spark interest in actuarial careers among promising students.
Equip students with the tools needed to pass SOA exams.
Foster a supportive community for aspiring actuaries.
Promote awareness about the SOA.
Grow the actuarial profession in developing/emerging markets.
Provide a networking platform for students to foster community development and knowledge transfer.
Expose students to a broader scope of the profession through additional SOA benefits.
Strengthen strong foundation in actuarial science.

Benefits

Reduced financial barriers for SOA preliminary exams.
Increased chances of passing SOA exams through comprehensive study support.
Access to a network of actuarial professionals.
Best results obtained from students who completed 240 practice questions and several sample exams prior to completing their mock exam.
Support from study portal provider.

Eligibility

Interested.
Prioritises students new to SOA exams or needing to re-start their journey.
Commitment to complete 240 practice questions and several sample exams prior to completing their mock exam.
To maximise the success of the program, students must create an SOA account and join the Free Affiliate Membership Program which provides exclusive knowledge and tools.

Components

Online Study Portal
Mock Exams: Administered under strict guidelines to replicate real exam conditions.
Free Study Materials: Essential resources for SOA exams.
Exam Fee Waivers: Available after passing mock exam.
Instructors help students navigate the program enrolment process.

Step-by-Step Instructions

1. 1. Selection
  2. Selected students an invitation letter.
  3. Student SOA Account Creation: Selected students create Invited students create an SOA account (if none exists). Important: enter your full name, reliable address, phone number and email you will use when registering for exams.
  4. Students complete the Student Enrolment Form
  5. Students join the Free Affiliate Membership Program
  6. Meeting is scheduled with all students in the cohort
  7. Platform Setup
  8. The SOA provides information on exam timelines and deadlines.
  9. A mock exam is administered using the study platform materials.
  10. Students need a passing grade of 60% or higher to receive the SOA exam fee waive
  11. Exam Registration Form
    The SOA will send the Exam registration Form to the administrator to share with the students.
    
    The student must take the exam during the agreed upon window.
    
    Students have 6 months from the program start ate to access TIA.

FAQs

How can I apply to the SOA Student Success Program?

Use the application link provided below.

How are mock exams conducted?

Administered by Actuarial Academy of East Africa (AAEA) under strict guidelines to replicate real exam conditions. Mock exams must be given the same importance as actual SOA exams.

What happens if I don’t pass a mock exam?

TIA study materials are available for use up to 6 months from the program start date. Continue studying and taking the sample exams. When you are ready, register for a future SOA exam. The study materials will remain available to help you get to the next exam window, but the SOA exam waiver is only granted to candidates who passed their program’s proctored mock exam.

How do I get an exam fee waiver?

After passing your mock exam, AAEA will notify the SOA, which will send you an Exam Fee Waiver form to complete and return.

Can I take any SOA exam?

The pilot program currently includes only exams P & FM.

What resources are available through the online study portal?

Comprehensive instructional materials and practice questions.

Application ProcessApplicants must submit an application and supporting documentation through the following link
Application DeadlinesThe completed application and required documentation must be received by the Actuarial Academy of East Africa no later than October 29, 2024.
ContactPlease email adminoffice@actuarialacademy.africa with any questions regarding the SOA Scholarship program or the application process.