(Revised June 2009)

1. The assessments leading to qualification as a Fellow or an Associate of the Faculty or Institute of Actuaries consist of the following subjects:

Assessment for CT9 will involve attending a two-day module and completion of an electronic online test. Assessment for CA2 and CA3 will be carried out at a two-day module. The format and content of assessments ST0 and SA0 will be determined on an individual basis. All other assessments will be carried out by examination.

2. For Fellowship candidates must gain passes in all the Core Technical and Core Applications subjects, two Specialist Technical subjects and one Specialist Applications subject. Candidates must also satisfy any other conditions required by Council of the Faculty of Actuaries or the Council of the Institute of Actuaries for Fellowship.

For Associateship students must gain passes in all the Core Technical and Core Applications subjects. Students must also satisfy any other conditions required by Councils for Associateship.

3. The assessments will be conducted in such places, at such times and under such conditions as the Councils may prescribe.

4. A candidate for examination at any place in the United Kingdom or the Republic of Ireland must submit the entry form so that it shall reach the Registry at least four weeks before the start of the examinations. A candidate for examination at any place outside the United Kingdom or Republic of Ireland must submit the form so that it shall reach the Registry at least eight weeks before the start of the examinations.

A candidate for any of the modules CT9, CA2 and CA3 should submit the entry form so that it shall reach the Registry at least six weeks before the start of the assessment. Late entries will only be accepted if places are available.

Details of assessment dates, closing dates for entries and when entry forms are despatched are given to students and Associates; late entries cannot be accepted.

5. At the time of submitting the entry form the candidate must pay the relevant fee. The entry will not be accepted unless the candidate has paid all entrance fees, subscriptions, and examination fees that may be due, and has complied with the requirements of the Bye-laws and of these Regulations. If, after payment of the fee, the candidate withdraws his/her name or fails to present himself/herself from any cause other than sickness (which must be proved by a medical certificate), no part of the fee will be returned or carried forward.

6. Success or failure in any subject will be determined independently of performance in any other subject.

7. For examinations copies of actuarial tables including a list of standard formulae will be available to candidates in the examination room. Candidates may use electronic calculators in all the examinations subject to the following conditions:

• Candidates must provide their own calculators.
• The Education Committee has approved the following list of calculators as acceptable for use in the examinations:
  • Casio FX85 (with or without any suffix)
  • Casio FX82 (with or without any suffix)
  • Hewlett Packard HP9S
  • Hewlett Packard HP 12C (with or without any suffix)
  • Sharp EL531 (with or without any suffix)
  • Texas Instruments BA II Plus (with or without any suffix)
  • Texas Instruments TI-30 (with or without any suffix)
• Any stored data and/or stored program facilities must be cleared before the calculator is taken into the examination room.
• No extra time will be allowed for candidates who do not use calculators or whose calculators break down in the course of the examination.

Candidates are advised that in all calculations intermediate results should normally be shown to gain full marks.

8. Mobile phones and any other means of external communication must be switched off while candidates are in the assessment room.

9. Any candidate who, in the opinion of the Board of Examiners, has been guilty of major misconduct in connection with an assessment shall, in the discretion of the Board of Examiners:

• be disqualified from that assessment
• be disqualified from sitting any further assessment until a complaint of misconduct has been determined under the Disciplinary Scheme of the Faculty and Institute or, in the case of a Faculty student, he/she has been the subject of a decision by the Faculty Council that he/she should be removed from the Faculty’s Roll.

Any student who is found guilty of major misconduct in connection with an assessment under the Disciplinary Schemes of the Faculty and Institute or, in the case of a Faculty student, he/she has been the subject of a decision by the Faculty Council that he/she should be removed from the Faculty’s Roll may have any existing examination passes removed.

Examples of misconduct are:

• the giving or receiving of any unauthorised assistance of any kind during the assessment;
• gaining access to the assessment questions before the assessment;
• looking at or copying from another candidate’s paper;
• bringing unauthorised material into the assessment room;
• disturbing other candidates during the assessment.

This list is not intended to be exhaustive.

10. The names of successful candidates in each assessment will be published in alphabetical order. Separate pass lists will be issued for the Institute and the Faculty.

11. Candidates requiring special arrangements, due to medical conditions, or who are unable to sit exams on the scheduled date due to a religious holy day, must apply for these arrangements when submitting their entry form although subsequent applications may be considered in exceptional circumstances.

12. Applications for special consideration by the Board of Examiners e.g. because of illness immediately before or during an assessment, will only be considered if they are submitted within one week of the assessment to which they relate; they cannot be considered once the pass list has been issued. In the case of sickness, such applications must be supported by medical evidence.

13. An application to enter any of the assessments will be regarded as an agreement by the candidate that all written replies to assessments are the property of the Faculty or of the Institute and will not be returned to the candidate.

14. The marking of assessments and the results of such marking are final and binding for all candidates and the Faculty and the Institute need not enter into any correspondence about the results of individual candidates with the candidates themselves, their training officer, their employers, their parents or any other persons or organisation claiming interest, except as required under the Data Protection Act.

15. If your attempt to sit an examination paper(s) is suspended, cancelled or otherwise nullified (whether before, during or after the examination sitting itself) the Profession will waive the fee for your next attempt at that paper(s). The Profession reserves the right to decide not to reschedule any examination or to provide any compensation.