designations are Associate of Society of Actuaries (ASA) and Chartered Enterprise Risk Analyst (CERA), which was introduced in 2007. The highest designation is Fellow of the Society of Actuaries (FSA). The SOA has more than 30,000 actuaries as members. Requirements for membership for the SOA include the actuarial exams, a comprehensive series of competitive exams. Topics covered in the exams include mathematics, finance, insurance, economics, interest theory, life models, and actuarial science. Non-members working in the actuarial profession and taking exams are often referred to as actuarial students or candidates. Members of the SOA who meet a professional experience requirement are eligible for membership in the American Academy of Actuaries, which represents United States actuaries from all practice areas. Examination system Professional designations in the Society are earned by completing a rigorous system of examinations. It is common for actuarial students to work full-time in the profession while studying for the exams. The first seven ("preliminary") exams consist mostly of core mathematics related to actuarial science including probability, statistics, interest theory, life contingencies, and risk models. In 2016, the SOA announced changes to the curriculum for candidates seeking the associate designation and the Chartered Enterprise Risk Analyst credential. In total, the number of components for Associateship from the SOA will increase from ten to twelve components, with three VEE subjects, seven formally examined subjects. These changes are in effect July 2018 and reflect an emphasis on predictive analytics, and also provides a curriculum balance between long-term and short-term insurance coverages. A series of online learning modules, called the Fundamentals of Actuarial Practice (FAP), are intended to be taken after the preliminary exams. They cover real-world topics such as insurance and professionalism with readings, case studies and projects. The preliminary exams and FAP modules comprise the majority of the education requirement for the ASA designation. Upper-level exam topics for the FSA designation include plan design, risk classification, enterprise risk management, ratemaking and valuation. Three fellowship exams are taken in one of six specialization tracks chosen by the candidate – Finance & Enterprise Risk Management, Investments, Individual Life Insurance & Annuities, Retirement Benefits, Group & Health Insurance, or General Insurance. The SOA is updating the Fellowship tracks beginning in late 2018. Candidates completing the Finance & Enterprise Risk Management track will also earn the CERA designation. Candidates in any of the other five tracks have the option of replacing their track-specific Enterprise