To qualify as an actuary you need to apply to become a student member of the Institute and Faculty of Actuaries
You then need to pass our exams, or obtain exemptions from them and gain a satisfactory level of work-based skills
It's essential that you have excellent mathematical skills
Most actuaries start their training after they graduate by joining an actuarial firm as a trainee. Being in an actuarial job will develop your skills which will help you with your exams.
Most UK actuarial employers will be looking for trainees with a good degree (2:1 or above)
Employers favour candidates with degrees in a numerate subject such as mathematics, statistics, economics, engineering, chemistry, physics or actuarial science. We have compiled a list of mathematical subjects which you should have an understanding of in order to qualify as an actuary.
All students joining the IFoA from 2 January 2019 will be required to qualify as an Associate before choosing to progress to Fellowship. You will do this after completing or gaining exemptions from the Core Principles and Core Practice subjects and a minimum of 2 years of PPD.
You will study these subjects in your degree and/or whilst working as an actuarial student.
Having attended schools in Hong Kong, Mumbai, and the UK, I developed a passion for learning. My love for problem solving and my curiosity culminated in my ultimate decision to study to join the actuarial profession. As an actuary once told me, becoming an actuary is like gaining a passport to a world of problem solving
Pension Risk, Leatherhead, United Kingdom
Watch our members discuss how to become an actuary
The minimum requirements for admission as a student member of the IFoA are:
|Qualification||Key subject||Minimum grade||Other|
|A-Levels (England)||Mathematics||B||Plus a second A-level in any subject at grade C|
|Scottish National Qualifications Authority Higher||Mathematics||A||Plus two further passes in any subjects at grade C|
|Irish Leaving Certificate||Mathematics||A||Plus four further passes in any subjects at grade C|
Other international qualifications must be equivalent to the above.
- If you have a second class honours degree or above in a non-mathematical subject, the mathematics A-level requirement is reduced to a grade C.
- If you have a third class honours degree or above in a mathematical or actuarial science degree, the mathematics A-level requirement is dropped.
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You can contact the Careers team at:
Institute and Faculty of Actuaries, 7th Floor Holborn Gate, 326-330 High Holborn, London WC1V 7PP
We aim to respond to all enquiries within five working days.
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The Institute for Financial and Actuarial Mathematics (IFAM) at the University of Liverpool is pleased to host the 2019 Actuarial Teachers’ and Researchers’ Conference from 27-28 June 2019. This annual two-day event has been running annually now for many years, each time hosted by a different university, and provides all those interested in actuarial research and education a great opportunity to share their ideas and catch up on the latest developments.
The Institute and Faculty of Actuaries (IFoA) and Actuarial Society of Malaysia (ASM) are organising a joint Professional Skills Training (PST) in Kuala Lumpur. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.
Presented by Louise Pryor
Air pollution has gained increasing attention lately. Nicola Oliver, head of longevity and mortality research for Medical Intelligence, will discuss not only the impacts of air pollution on health and life expectancy but also how as an industry we should be addressing it.
The actuarial profession has much to offer the world of banking. In this webinar actuaries with experience in various fields of banking will talk about the opportunities there are in banking; describing the actuarial aspects of the work they do as well as other roles within their area of banking.
Towards the end of June, the International Accounting Standards Board (IASB) is expected to publish an Exposure Draft (ED) of limited changes to its insurance contracts standard IFRS 17, effective date 2022. To help IFoA members, the IFoA’s cross-practice Financial Reporting Group (FRG) is hosting an event at Staple Inn covering these developments.
For more information on the FRG please visit this webpage.
Presenter: Rahul Verma
Presenter Matt Modisett
This KSS talk, presented by the FCA Head of Department in Scotland, will focus on the following 3 main areas:
- FCA business plan priorities
- The future of regulation
- FCA Engagement in Scotland
For life insurers in the UK, the risk margin is one of the most controversial aspects of the Solvency II regime. Following its implementation, the risk margin came under considerable criticism for being too large and too sensitive to interest rate movements. These criticisms are particularly valid for annuity business – such business is of great significance to the national system for retirement provision. This criticism has led to political interest, and the risk margin was a major element of the Treasury Committee inquiry into Solvency II.
GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year.
Presenter Jon Spain
The Life Conference is the premier event for professionals interested in life insurance. Offering a wide range of workshops and plenary sessions it’s the perfect opportunity to discover what’s hot and current in life insurance ensuring you get up to date on the latest thinking and innovation whilst meeting and exchanging ideas with a broad range of professionals.
The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker. Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.