Student members have obligations under the CPD Scheme 2018/2019 and are classed as Category 5 members for CPD purposes.
Your obligations under the Scheme are limited to the Professional Skills Training (PST) component. If you are unsure about your PST obligations, you will find full details in the Scheme.
It is important that you read the CPD Scheme 2018/19 in full to familiarise yourself with the requirements and your responsibilities under it.
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Category 5 - Definition
All Students, who are not Student Actuarial Analysts, of the IFoA on 1 July 2018 and who have not been classified as retired by the IFoA are Category 5 members for the purposes of this Scheme.
The Category 5 CPD year runs from 1 July 2018 to 30 June 2019.
Category 5 members’ obligations under the Scheme shall have effect from 1 July following admission to the IFoA.
There is no technical skills requirement for Category 5 members.
Category 5 members are required to undertake the following PST stages at the time specified below:
- Stage 1 – On-line Professional Awareness Test (read CPD Scheme 2018/2019 Schedule 1 or visit Stage 1 Online Professional Awareness Test)
To be completed by all Category 5 members who joined the IFoA on or after 1 March 2012, before being eligible to sit the IFoA’s Business Awareness Exam (CT9). Category 5 members who joined the IFoA before 1 March 2012 are not required to complete Stage 1 of the PST.
On completion of Stage 1, members will progress to Stage 2.
- Stage 2 – Professional Skills Course (read CPD Scheme 2018/2019 Schedule 2 or visit Stage 2 Professional Skills Course)
To be completed by Category 5 members who were admitted to the IFoA on or after 1 July 2006 who have not completed a Professionalism Course under the previous regime:
- between the fourth and sixth anniversaries of their admission to the IFoA; or
- prior to transferring to Associate status,
whichever comes first.
Members will progress to Stage 3 of the PST in the following CPD year.
- Stage 3 – Professional Skills for Experienced Actuaries (read CPD Scheme 2018/2019 Schedule 3 or visit Stage 3 Professional Skills for Experienced Actuaries)
To be completed annually by all Category 5 members who
- have completed Stage 2 of the PST or
- joined the IFoA prior to 1 July 2006.
Category 5 members must record their Stage 3 PST activities and any learning outcomes corresponding to private study activities on their on-line CPD record by 31 July 2019.
Category 5 members who fail to record their CPD by the deadline will be granted an extension to 30 September 2019, upon making payment of an administration fee.
Evidence of CPD
Category 5 members must retain evidence of their Stage 3 CPD activities for a period of two years from the date of the activity and must produce that evidence to the IFoA upon request.
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