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According to the Insurance Law, the National Bank of Serbia is responsible for issuing authorizations for performing the tasks of a certified actuary.
The National Bank of Serbia prescribed the following conditions for persons who want to acquire title of certified actuary: |
- resides in the territory of the Republic of Serbia;
- is 18 or older and fully capable for work;
- holds a university degree in economics, mathematics, mechanical and electrical engineering, and similar: second level studies - master academic studies, and/or basic studies lasting minimum four years pursuant to regulations applicable until the entry into force of the Law on Higher Education ("RS Official Gazette", No 76/2005, 97/2008 and 44/2010);
- has at least three years of work experience on actuarial tasks, as defined by the law, in insurance companies or in a body charged with the supervision of the insurance industry;
- has not been pronounced a security measure by the court or issued a protective measure prohibiting the conduct of activity
- has not been sentenced for criminal acts against property or industry to a prison sentence longer than three months;
- has not had the authorization to perform the tasks of a certified actuary revoked;
- has passed the professional exam for acquiring the title of certified actuary that includes the following modules:
- Module 1: Basics of the application of actuarial mathematics in the field of insurance, pension schemes and investments;
- Module 2: Risk management models and non-life insurance;
- Module 3: Life and health insurance;
- Module 4: Pension schemes and modeling;
- Module 5: Investments and financial reporting.
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| More information on the requirements for obtaining the title of certified actuary can be found in NBS’s Decision on the Conditions for Acquiring the Title of Certified Actuary. |
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