What Is VEE?
VEE stands for Validation by Educational Experience. It is how the actuarial societies confirm you have learned three foundational subjects without making you sit an exam for them. The three VEE subjects are economics, accounting and finance, and mathematical statistics. You satisfy each one through qualifying university coursework (usually a B minus or better), the societies' listed online courses, or certain standardized exam credits.
VEE is not a preliminary exam and does not replace one. It runs in parallel: you can validate the subjects before, during, or after your first sittings of Exam P and Exam FM. Because it comes from coursework, many candidates finish VEE naturally through a math, economics, or actuarial-science degree.
How VEE Fits the Designation Path
VEE is one of the ingredients in the Associate designation, alongside the preliminary exams and the education modules. It is not required just to sit exams; it is required to be awarded the credential.
| Society | Associate | Fellow | VEE required for |
|---|---|---|---|
| SOA (life, health, pension) | ASA | FSA | ASA |
| CAS (property and casualty) | ACAS | FCAS | ACAS |
- ASA (Associate of the Society of Actuaries) requires the SOA preliminary exams, VEE, the education modules, and a professionalism course. FSA adds a specialty track and fellowship exams.
- ACAS (Associate of the Casualty Actuarial Society) requires the CAS preliminary exams (including MAS-I and MAS-II), VEE, online courses, and a course on professionalism. FCAS adds the upper exams (5 through 9).
Both societies grant the Associate first and the Fellow later. Associate typically lands a few years in; Fellow takes 5 to 10 years total. The actuary salary and career path guide covers what each milestone pays.
Satisfying VEE
Three practical routes:
- University coursework in each subject, at or above the grade the society requires. This is the most common route and the reason a math or actuarial-science major often finishes VEE without extra effort.
- The societies' listed online courses, used when your transcript does not cover a subject.
- Standardized credit in some cases (for example, certain exam credits for parts of the requirement, subject to the society's current rules).
The qualifying-course lists and the exact subject definitions differ slightly between the SOA and the CAS, and they update the lists periodically, so validate against the society's current VEE page rather than a secondhand list.
VEE vs Exams: What to Prioritize
For early hiring and internships, passed exams outrank VEE. A recruiter reads "Exam P and FM passed" as the strong signal; VEE is expected to fall into place through your degree. So the practical order is: sit Exam P or Exam FM as early as you can, keep your VEE coursework grades where they need to be, and complete the formal VEE validation when you assemble your Associate application.
Start With the Exams
The exams are the gating step, and the practice is free here. Take a free Exam P diagnostic to benchmark, then work the full bank with worked solutions and no signup. If you are still choosing a society, the SOA vs CAS quiz and the SOA vs CAS path guide will help.