Exemption based on other professional qualifications

You will be eligible to apply for an exemption from the Fellowship exams shown if you have one of the following qualifications.

Exemptions from the Certified Actuarial Analyst modules are not available.

Qualification Subjects for which exemption is offered by the IFoA
A dissertation written as part of a postgraduate degree course, or certain postgraduate qualifications (see below for more information) ST0
An MBA from an institution listed in the FT Global MBA ranking at the time the MBA was awarded ST0
Association of Chartered Certified Accountants (ACCA) qualification CT2 and ST0
The Chartered Alternative Investment Analyst designation (CAIA) ST0
Associateship of the Institute of Chartered Accountants in England and Wales, or of the Institute of Chartered Accountants in Scotland CT2 and ST0

Chartered Financial Analyst

  • Level I
  • Level I and II
  • Level I, II and III
  • CFA Charter Holder/Fellow 


  • CT2 and CT7
  • CT1, CT2, CT3 and CT7
  • CT1, CT2, CT3, CT7 and CT8
  • All of the above CT subjects, plus ST0
Fellowship of the Chartered Insurance Institute (FCII) ST0
Chartered Institute of Management Accountants award (CIMA) CT2 and ST0
GARP Certified Financial Risk Manager ST0
International Diploma in Risk Management, from the Institute of Risk Management. Details of the diploma can be found at http://www.theirm.org/Qualifications/overview.htm ST0
Associateship of the Pensions Management Institute, or of the Irish Institute of Pension Managers ST0


Postgraduate dissertations or qualifications

If you have a written a postgraduate dissertation or thesis on an actuarial or financial subject you may be eligible to apply for exemption from the Alternative specialist technical subject (ST0). An undergraduate dissertation can not be considered.

For the exemption to be awarded your dissertation will need to show sufficient coverage of the actuarial syllabus.

You will need to include with your exemption application form

  • Documentary evidence of the qualification gained
  • A supporting letter from a Fellow of an International Actuarial Association organisation, stating how the work done in the dissertation is of relevance to actuarial work

A non-actuarial MSc, MPhil or PhD in an economics, finance or finance related discipline will also be considered for exemption.

If you hold an actuarial Masters degree from an accredited programme the qualification should give exemption from other subjects and you will not be eligible to apply for exemption for ST0.


Professional qualifications not listed above

If you are applying for exemption from any of the exams of the Institute and Faculty of Actuaries based on a professional qualification not given above you must provide

  • Documentary evidence of the qualification and the grades gained
  • Details of the syllabus followed
  • Copies of examination papers sat

The copies must be certified copies signed by your employer, who must be an actuary.