Aspiring actuaries in Canada and the U.S. typically spend between 3 and 5 years getting a bachelor's degree and about 7-8 years passing all ten actuarial exams. Actuarial exams can be written before a bachelor's degree is completed so there's usually some overlap in these two time frames.

Candidates take exams in financial mathematics, probability, statistics, and demography. Actuaries earn certification in several specialty areas, which require passing a minimum of seven exams. While pursuing certification, actuaries also gain professional experience.

SOA vs. CAS: The primary difference is that they each support actuaries in different industries. The CAS provides standards and regulations for actuaries that work in property and casualty (P&C) insurance. The SOA does the same for actuaries that work in life, health, pensions and retirement.

To join the profession in the United States, prospective actuaries must pass a series of exams given by the Society of Actuaries (SOA), the Casualty Actuarial Society (CAS), or the American Society of Pension Professionals and Actuaries (ASPPA). The exam process usually takes several years.