Certification
SOFE offers three professional designations, which may be earned by completing extensive requirements including the successful completion of a series of examinations administered by the Society. The designations are Accredited Financial Examiner, Certified Financial Examiner, and Automated Examination Specialist.
Purpose
By continuing their professional education, members of the Society of Financial Examiners (SOFE) can better fulfill their obligation to competently serve the public interest. Accordingly, SOFE maintains the following continuing education program in order to assist its members in remaining current with the technical advancements and fundamental changes occurring in the operations and management of the companies they regulate.
CRE Credit Requirements
After a member earns either the Accredited Financial Examiner (AFE) or the Automated Examination Specialist (AES) designation awarded by SOFE, they must begin to earn Continuing Regulatory Education (CRE) credits effective the first day of the month following the month in which they receive the designation. If the member goes on to earn the Certified Financial Examiner (CFE) designation, the reporting requirements do not change.
Credits must be earned in SOFE-defined three-year periods. The three-year periods are the same for all designees; therefore, when an individual earns a designation, required credits must be prorated for the first three-year period as explained in the CRE reporting section below.
Three-year reporting periods Three-year reporting deadlines
January 1, 2014 to December 31, 2016 January 31, 2017
January 1, 2017 to December 31, 2019 January 31, 2020
January 1, 2020 to December 31, 2022 January 31, 2023
Other Programs and Credits
The following provides information and guidance on CRE allowances for other programs:
- 45 CRE's are given for the successful completion of self-study courses given by nationally recognized organizations and that must be completed for a professional certification. Successful completion should be documented by evidence that the candidate has passed the accompanying examination of the self-study course and has received a certificate of completion for that course. Examples of self-study courses that would qualify for 45 CRE credits are LOMA courses (i.e., LOMA 280-Principles of Insurance), CPCU courses (i.e., CPCU 551-Commercial Property Risk Management and Insurance), ARM courses (i.e., ARM 54-Risk Management Principles & Practices), and courses for other similar professional certification programs. The organization must be approved by SOFE or recognized by NASBA.
- 15 CRE's for each semester college credit and 10 CRE's for each quarter college credit will be awarded upon successful completion.
- Up to 30 CRE's for instructing each semester college credit and up to 20 CRE's for instructing each quarter college credit will be awarded on an annual basis. CRE credit cannot be taken more than once for the same material. As CRE is meant for the continuing education of the member, SOFE will only allow 40 CRE's for instructing college courses over a three-year period.
