⦁ Professional education objectives
The current educational program continues the tradition, established by the Bulgarian Actuarial Society in the actuarial profession, with main objectives as follows:
⦁ Meeting the professional actuarial requirements in the life, non-life, pensions, finance and investment management areas;
⦁ Achieving a better quality of the actuarial services, offered in the country;
⦁ Certification of the actuaries, who successfully manage to take the corresponding exams;
⦁ Providing support for the Bulgarian actuaries to be able to cover the high qualification requirements of the profession, established as per the BAS regulations and the International Actuarial Association and the European Actuarial Association (Groupe Consultatif)’s educational programs.
⦁ Participants in the tuition process
The participation in the program is suitable and open for any actuary, investment specialist, manager, accountant or other finance specialist working/willing to work in a bank, insurance company, pension and health fund, business house, investment management company, investment fund or other organization, in which actuarial calculations, evaluations and analyses are being performed.
The candidates must have a university degree (“bachelor” or higher) in one or more of the following areas: Mathematics, Informatics, Engineering or Economics. The required minimum in mathematics includes knowledge within the framework of calculus course (differential and integral computation), probability theory and statistics, within the university program.
⦁ Basic modules
⦁ М 101 Financial mathematics
⦁ М 102 Probability and mathematical statistics
⦁ М 103 Statistical/ Stochastic methods
⦁ М 104 Modeling
⦁ М 105 Actuarial mathematics
⦁ М 106 Economics
⦁ М 107 Finance and Financial reporting
⦁ М 108 Investment and asset management
⦁ М 109 Professionalism
⦁ М 110 Actuarial risk management
⦁ P 101 Pension insurance – theory and practice
⦁ P 102 General insurance – theory and practice
⦁ P 103 Life insurance – theory and practice
⦁ Tuition format
The tuition format is remote. Applications for holding an exam might be submitted throughout the whole year. Each participant then receives a set of printed materials, necessary for his exam preparation. The exams are being held as per preliminary announced schedule.
If a group of 10 or more applicants for a particular module forms, as per the Qualification Commission and BAS’s Management Board’s decision, a course of lectures might be organized.
The exam dates are agreed and announced to the students preliminary.
The exams for all modules are in written. They consist of a set of tasks and practical cases, which are to be solved.
Each participant, who successfully takes all the exams, is being granted an Actuarial Diploma by the Bulgarian Actuarial Society, certifying his qualification.
⦁ Registration – application forms
The candidate should fill in and send to BAS (email@example.com) an application form. Upon its receival BAS will send a confirmation letter to the applicant that he is accepted to hold the according exam.
⦁ Tuition fees
The tuition fee for each module is stated below:
М 101 Financial mathematics BGN 300
М 102 Probability and mathematical statistics BGN 300
М 103 Statistical/ Stochastic methods BGN 300
М 104 Modeling BGN 300
М 105 Actuarial mathematics BGN 300
М 106 Economics BGN 300
М 107 Finance and Financial reporting BGN 300
М 108 Investment and asset management BGN 300
М 109 Professionalism BGN 100
М 110 Actuarial risk management BGN 300
P 101 Pension insurance – theory and practice BGN 400
P 102 General insurance – theory and practice BGN 400
P 103 Life insurance – theory and practice BGN 400
The tuition fee in case of a second (or subsequent) exam holding attempt is BGN 100.
All BAS members are using 20% discount on the fees herementioned.
Fee payment is done via bank transfer to the Bulgarian Actuarial’s Society bank account below (using BNB’s EUR/BGN FX rate, if necessary):
IBAN: BG15 BACX 9660 1000 6461 00
The deadline for payment of the fee for each particular module is 7 calendar days after receiving the above mentioned confirmation in “6. Registration – application forms” by BAS.
⦁ Additional information
For additional information, you may refer to the Qualification Commission members or BAS’s chairman.
Address: Bulgaria, Sofia, Post code: 1113; “Acad. Georgi Bonchev” Str., block 8, fl. 2, cabinet 218