In Macedonia according to the Insurance Supervision Law (ISL), the Insurance Supervision Agency (ISA) ) issues licenses for certified actuaries.

Also, according the ISL, ISA has right to designate other institution to conduct the actuarial education, however currently the education needed to obtain license for working as a certified actuary is solely performed by the ISA. The Syllabus is also prescribed by the ISA

Based on an observed needs ISA can, at least once a year, organize an actuarial education by publishing an announcement and informing the candidates about terms when and locations where the lectures and exams will take place. Depending on the number of interested candidates, ISA decides whether to start an educational cycle.

If there sufficient number of candidates, the ISA initiates the cycle for actuarial education that last for 2(two) years and it consists of 15 exams.  The Subjects and the Syllabus are published on the ISA’s web page. The program is fully comply to the Syllabus of MAA „Actuary“ which is imposed as a condition for full membership in the Association.

For each subject there is part of lecture courses that lasts for one week. During this process the candidates visit lectures. Then, three weeks after the end of taking the lectures the candidates can go and take the exam in written for the same subject. If somebody does not pass the exam there is one more chance one week after. Candidates who fall on the second exam quit the actuarial education, meaning that each subject is conditional on the previous subject.

After successful completion of all 15 exams, candidates get license which is needed for working as a fully qualified actuary

More information can be found on the ISA’s web page.