Typically, the SOA would expect a candidate's PD plan to focus on one practice area. The global educational objective of the professional development component is for the candidate to develop "a deeper understanding of the technical, legal, ethical, cultural, professional and practical parameters that apply to the chosen practice area, within the geographic territory or jurisdiction of the practice of the candidate." This practice area does not necessarily have to be the same as the track previously followed.
It is important that an integrated PD plan follow the educational objectives approved by your advisor and the SOA. It may be questionable whether a split between practice areas within PD would further the development of a candidate's professional background in the way intended by the PD Requirement. However, if a candidate does choose to proceed with a mix of practice areas within his/her PD plan, the candidate is advised to consult with an advisor as soon as possible to determine the value and/or feasibility of such a decision.
The SOA provides guidance on the number of units of PD credit for various meetings, seminars and other educational activities on the PD page of the SOA web site. The unit value determined by the SOA assumes that the activity is fully relevant to a candidate's PD plan. Full credit may not always be appropriate, partial credit for an activity may be more appropriate if a portion of the activity is not relevant to a candidate's PD plan. For example, a seminar may cover both US and Canadian regulations in detail, but knowledge of regulations in both countries may not be relevant to a particular candidate's plan. The advisor and candidate should assess the educational value of the program to the candidate’s professional development and determine appropriate credit up to the maximum value indicated by SOA. It will be the advisor's responsibility to exercise sound judgement and work with the candidate to determine when full credit is not appropriate.
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2006-9-7
