Curriculum Overview
The CERA credential curriculum was carefully developed to meet current and future market needs while providing a rigorous treatment of critical enterprise risk management topics. Successful candidates will receive the CERA credential and become an Associate of the Society of Actuaries.
To earn the CERA credential, candidates must take the following five exams, one online course, and one half-day course:
- Exam P (Probability)
- Exam FM (Financial Mathematics)
- Validation by Educational Experience (VEE) Economics
- Exam M (Actuarial Models) segment of MFE
- Exam C (Construction of Actuarial Models)
- Advanced Finance/Enterprise Risk Management Exam
- CERA Module (Operational Risk)
- Associateship Professionalism Course

