Principles of Professionalism

By International Actuarial Association · 2017 · PG1

Study guide: Exam 6I

Non-binding guidance from the International Actuarial Association to aid its member associations in developing and maintaining professionalism standards. It defines professionalism for the actuarial profession as the application of specialist actuarial knowledge and expertise, the demonstration of ethical behaviour, and the actuary's accountability to a professional actuarial association on the basis of a code of conduct, and discusses the three principles that definition is derived from: knowledge and expertise, values and behaviour, and professional accountability.

On the syllabus

Exam 6I — objectives E3–E4; the whole document.

1 Introduction

The distinguishing feature of a profession that sets it apart from a trade, a craft, a guild or a syndicate is the overriding interest of the individual professional in the public well-being.
The definition of professionalism is derived from three high-level principles: A. Knowledge and expertise; B. Values and behaviour; C. Professional accountability.

2 Principle A: Knowledge and Expertise

"An actuary shall perform professional services only if competent and appropriately experienced to do so" (IAA Internal Regulations 2.2.2 (a) (iv)).
2.1 Specialist knowledge
2.2 Professional communication
2.3 Required education
2.4 Continuing Professional Development

3 Principle B: Values and Behaviour

"An actuary shall perform professional services with integrity, skill and care. An actuary shall act in a manner that fulfils the profession's responsibility to the public. An actuary shall act in a manner that upholds the reputation of the actuarial profession." (IAA Internal Regulations 2.2.2 (a)(i) and (ii)).
3.1 Ethical behaviour
3.2 Integrity
3.3 Independent advice
3.4 Trust and reputation
3.5 Responsibility to the public

4 Principle C: Professional Accountability

4.1 Entry and qualification standards
4.2 Code of Conduct / Standards of practice
4.3 Disciplinary process

5 Adoption

The document is the result of a formal review of the "Principles of Professionalism" by the IAA's Professionalism Committee; the original version was formally adopted by Council on 23 January 2012, after consultation with the IAA's Full Member Associations.

Sources

PG1 – Principles of Professionalism (International Actuarial Association) — the document (sha256 61c58c4795df9040…): the title, the introduction and adoption section for the lead, the section headings and the principles' quoted requirements from the text of its ten pages; it prints "© 2017 International Actuarial Association", which gives the year, while its adoption section leaves the 2017 approval and ratification dates as placeholders and its running header reads "PG2 — Principles in relation to the Governance of International Actuarial Work, Approved October 7, 2017"
CAS Exam 6I Content Outline, Fall 2026 — the citation ("International Actuarial Association, IAA Professionalism Committee, 2025") and the assignment (objectives E3–E4, no pages or exclusions named)