Goals and general terms

1. Aims of the professional tuition

The current specialized programme continues the established traditions of Bulgarian Actuarial Society in the actuarial professional tuition and aims to:

*meet the requirements of specialized professional actuarial tuition in the practice of life and general insurance, pension and life insurance, finance and investment management;

*achieving a better quality in the actuarial services offered in the country;

*certify actuaries who have successfully taken the corresponding exams;

*help actuaries in Bulgaria cover the high qualification requirements of the profession established in the BAS regulations, as well as the Educational programmes of the International Actuarial Association and the European Actuarial Association( Groupe Consultatif ).

2. Participants in the tuition process

Participation in the programme is open for any actuary, investment specialist, manager, accountant or other finance specialist from banks, insurance companies, pension and health funds, business houses, investment management companies, investment funds and other organizations where actuarial calculations, evaluations and analyses are to be taken

Student requirements:

Candidates must have a higher education in any of the following subjects: mathematics, informatics, engineering, economics. The required minimum of preparation in mathematics includes knowledge within the framework of a course in calculus (differential and integral computation), probability theory and mathematical statistics taken at a higher school.

3. Basic modules

*Module 1 – Introduction to actuarial models

*Module 2 – Statistical methods

*Module 3 – Actuarial mathematics (two parts)

*Module 3.1 – Actuarial mathematics 1

*Module 3.2 – Actuarial mathematics 2

*Module 4 – Investments and assets management

*Module 5 – Actuarial cycle in insurance (three parts)

*Module 5.1 – Principles and practices of pension insurance

*Module 5.2 – Principles and practices of general insurance

*Module 5.3 – Principles and practices of life insurance

4. Tuition format

Two tuition formats are provided:

*regular

*remote

In regular format every participant attends a cycle of lectures with every module lasting between 30 and 40 school hours lectures and practical tasks solving exercises.

In remote format every participant receives a set of printed materials and uses them to prepare for sitting the exam. The remote format is a constant format of tuition throughout the whole calendar year. The regular format and lectures on the different modules are conducted only after a decision by the Qualification Commission and the Administrative Council of BAS when a group of no less than 10 persons has been assembled.

5.Exams

For every module a written exam in the form of practical cases and tasks solving test is organized. Dates are additionally decided on and announced to the students. Every participant who successfully takes all the exams in the tuition programme receives a diploma by Bulgarian Actuarial Society in qualification and capacity in actuarial science and its application in insurance activity, insuring and managing of investments.

6.Registration – forms and schedule

Candidates fill in an application form (link to the application form), which they send to BAS’s address: bas@bitex.bg . Afterwards BAS sends each candidate a participation confirmation.

7.Participation charges

The participation charge for the remote format of tuition is paid for separately for each of the eight modules and is 80 euro per module.

The regular tuition charge is determined on forming the group.

Payment of the charge is done by bank transfer by the fixed exchange rate euro/leva of BNB to the account of Bulgarian Actuarial Society:

BIC: BACXBGSF

IBAN: BG15 BACX 9660 1000 6461 00

HVB Bank Biochim – Central branch

The dead-line for payment of the charges for the separate modules is 7 calendar days after you receive confirmation from BAS.

8.Additional information

For additional information contact Mrs. Aneta Velikova, chairwoman of the Qualification Commission of Bulgarian Actuarial Society ( tel. 9396002; 0889 22 44 08), Mrs. Albena Petrova, secretary of the Qualification Commission of  BAS( tel.9811340, ext.202; 987 06 61; 0898 61 2533), as well as  the chairman of BAS – Mr. Nikolaj Todorov (n_todorov@bitex.bg; tel. 870 30 98; 0888 50 30 27 )

BAS office address: “Tzarigradsko shose” str. 125, bl.3, floor 1, office 103. Technical assistant: Monika Bruncheva

Tel: 971 10 02, ext. 367, e-mail: bas@bitex.bg.