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Transfer of Prior Learning

Individuals who are not, and have never been members of the IFoA but wish to transfer their prior learning to complete their actuarial qualification with the IFoA, can do so through this route.

What is Transfer of Prior Learning?

Transfer of Prior Learning (TPL) is the method by which the IFoA assesses whether members of other actuarial associations, where mutual recognition exists with the IFoA, and who wish to complete their qualification with the IFoA, may be eligible to receive credit for their learning. This will be assessed on a portfolio basis, and not a subject by subject basis. Typically this might be for career, employment or changes in location reasons.

Who is it for?

Individuals who have completed examinations with another Actuarial Association (listed below)[1] and wish to complete the remainder of the examinations with the IFoA to qualify as an Associate or Fellow. Applications must be based on passes/exemptions from a single association. This will normally be the association that the applicant is a member. Applications based on passes with multiple actuarial associations will not be accepted.

This is a once in a lifetime application and individuals will need to decide at what stage in the qualification process they wish to apply, recognising the minimum requirement described below. They cannot add subjects to the portfolio after their application for recognition of TPL has been submitted, and subsequently joined as a student member of the IFoA.

Individuals who are successful in applying through the TPL route, but subsequently leave the IFoA before qualifying, will not be able to apply to join the IFoA through mutual recognition once qualified with another association.

Who can apply for a Transfer of Prior Learning?

  1. An application for Transfer of Prior Learning must be completed before you join as a student member of the IFoA. You will be advised to submit your membership application once your transfer for prior learning has been considered.
  2. You cannot request a Transfer of Prior Learning once you have joined the IFoA or if you subsequently pass an examination with another Actuarial Association once you have joined the IFoA.
  3. Requests for Transfer of Prior Learning will be reviewed on an individual basis and those who wish to apply will need to provide supporting evidence that their examination passes are equivalent to IFoA syllabus.
  4. If individuals are successful they will be required to join the IFoA. The process of converting the passes to the IFoA must be completed before an individual takes their first examination.

Who cannot apply for Transfer of Prior Learning?

  1. Existing student members of the IFoA. However, student members who joined the IFoA between 1 August 2019 and 29 January 2020 holding exemptions from another actuarial association should consult Education Services to discuss their individual circumstances.
  2. Student members who have already applied, and been successful, in their Transfer for Prior Learning application.
  3. Individuals who have previously been members of the IFoA and have subsequently resigned or lapsed their membership.

What counts as a portfolio?

There will a minimum threshold of subjects required for an application to be accepted. These will normally be in actuarial mathematics and actuarial statistics, equivalent to the IFoA subjects: CS1, CS2, CM1, and CM2. Applicants will be required to demonstrate broad equivalence to the IFoA syllabus in these areas, in terms of content, cognitive level and assessment. Those who exceed this minimum requirement will also be able to apply for additional subjects that map to the IFoA syllabus. These may include subject’s equivalent to the IFoA: CB1, CB2, CP1, CP2 and CP3, and any of the later SP specialist subjects, but not the SA subjects

Please note, the IFoA will not accept a portfolio that contains examinations passed from the Indian Actuaries Institute from the December 2018 exam sitting.

What do I need to submit to request a transfer of my prior exam passes?

Please download and complete the Transfer of Prior Learning form and send it to the Education Services with your supporting evidence.

When is this effective from?

This is effective immediately.

What is the IFoA looking for in a Transfer of Prior Learning Application?

You will need to provide evidence of both suitability and sufficiency that your examination passes cover the learning outcomes of IFoA subjects and that your assessments are to the standard of IFoA exams:

  • Suitability, i.e. there is a match between the supporting evidence you provide and the learning outcomes of the IFoA subjects you are applying transfer for.
  • Sufficiency, i.e. the evidence you have submitted is sufficient to demonstrate that you have achieved competence equivalent to the standard of the IFoA examinations and syllabus objectives.

How much is it going to cost me?

There will be a non-refundable application fee of £250.

If your Request for Transfer is accepted, the usual exemption fees will be chargeable on a per subject basis. Details of fees can be found on the Exam Fees webpage.  You will also be required to pay the applicable annual student subscription fee.


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Events calendar

  • Actuarial Innovation in the COVID-19 era

    This event is online. 
    26 April 2021 - 7 May 2021
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    Join us for this brand new IFoA webinar weries comprising of a fortnight of webinars, panel sessions and a hackathon, that showcase the range of ways in which the actuarial profession has added value, in the public interest, to the understanding and management of the current and future pandemics through insight and learning.

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  • Europe Town Hall

    28 April 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual Europe Town Hall, hosted by John Taylor with IFoA Council Members Alan Rae, Jennifer Hartley, Maribel Vasquez Flores and IFoA Chief Executive, Stephen Mann.

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  • Finance & Investment Virtual Conference 2021

    Available to watch globally in May.
    10-12 May 2021
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    This year's Finance and Investment Virtual Conference takes on the timely theme of ‘resilience’, something we have all learnt a lot more about in the last year! Our diverse range of talks will explore the theme of resilience in a variety of ways including in building robust investment portfolios, in the incorporation of ESG factors, in govern

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  • CILA 2021

    Available to watch globally in May.
    19-21 May 2021
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    We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; on-going financial consequences of the COVID pandemic; or self-imposed changes in regulatory requirements and accounting standards.

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    This is a free webinar on the consultation on changes to the Practising Certificates (PC) Scheme.

    The proposals come from a recent review of the PC Scheme which was the first substantive look at the IFoA’s approach to the requirements and process for PCs since 2010. It responds directly to feedback received on how the current scheme works especially that received from members and PC Holders.

  • Pensions Conference 2021

    Online webinar series
    16-22 June 2021
    Spaces available

    Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.

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    This is a free webinar on the consultation on changes to the Practising Certificates (PC) Scheme.

    The proposals come from a recent review of the PC Scheme which was the first substantive look at the IFoA’s approach to the requirements and process for PCs since 2010. It responds directly to feedback received on how the current scheme works especially that received from members and PC Holders.