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Stage 1: Professionalism Course

The Professionalism Course is Stage 1 of the IFoA’s 3-stage mandatory Professional Skills Training.

This is the foundation of our 3-Stage mandatory Professional Skills Training designed to assist Student members to understand and fulfil their obligations as professionals at an early point in their actuarial careers. This in turn helps the IFoA to fulfil its duty to regulate Members in the public interest. All Members are bound by the IFoA’s regulatory framework of the Bye-laws, the Rules and Regulations and the Actuaries’ Code. The course is designed to equip actuaries to appreciate the practical implications of professionalism and, through practical scenarios using a range of different media, be able to articulate an understanding of the Actuaries' Code and making professional decisions.

What’s involved in the course?

This is a self-access e-learning course comprising of 4 Modules:

  • Module 1: Introduction to professionalism
  • Module 2: The IFoA; structure, regulation and compliance
  • Module 3: The Actuaries’ Code
  • Module 4: Professionalism in practice

You will need to work through each module in order but in your own time at a pace that suits you. Each module contains hyperlinks to relevant material on the IFoA’s website as well as video and illustrative content. You should access all of this content. At the end of each module there are a number of multiple choice questions for you to complete. You will need to achieve a minimum score of 60% to allow you to move on to the next module. You may have as many attempts as you need to achieve the pass rate. The aim is for you to absorb the content sufficiently before you move on. The whole course should take around a ½ day to complete.

Who is required to do the Stage 1 Professionalism Course?

Students who joined the IFoA on or after 1 July 2020:

  • must complete the new Stage 1 Professionalism Course before they can apply to sit the CB3 exam.

  • must complete both the new Stage 1 and Stage 2 Professionalism Courses before they will be eligible to qualify as an Associate. 
  • who are not eligible to qualify as an Associate within 6 years of joining the IFoA, must complete the new Stage 1 and Stage 2 Professionalism Courses within 6 years of joining the IFoA.

Students who are accepted under the Transfer of Prior Learning (TPL) process on or after 1 July 2020:

  • must complete the new Stage 1 Professionalism Course within 6 months from the date of their admission to the IFoA.

What are the transitional arrangements for Students and newly qualified Fellows?

Students who joined the IFoA before 1 July 2020:

  • (who have not already completed the previous style Professional Skills course(s) (Stage 1 and/or Stage 2)) will be required to complete the relevant Stage of the new Professionalism Courses.
  • must complete the new Stage 1 Professionalism Course before they can apply to sit the CB3 exam.
  • must complete both the new Stage 1 and Stage 2 Professionalism Courses before they will be eligible to qualify as an Associate. 

Students or Newly Qualified Members who joined the IFoA before 1 March 2012:

  • are not required to do the Stage 1 Professionalism Course, but may opt to do so if they are required to complete the new Stage 2 Online Professionalism Course. This is being offered free of charge due to the substantial shift of content from the previous Stage 2 Professional Skills Course (PSC) to the new Stage 1 Professionalism Course. If this applies to you please contact education.services@actuaries.org.uk to book your free place.

How do you book on the course?

To book your Stage 1 Professionalism Course log in to your online account, and follow the link to Book a Professionalism Course and select the Stage 1 option. 

What is the course fee?

Course Full rate Reduced rate
Stage 1 Professionalism Course £75.00 £55.00

A reduced rate fee will be available, for members currently on a reduced rate membership subscription fee, consistent with our pricing structure for other elements of the qualification. 

Related documents and information

Contact Details

Education Services Team

education.services@actuaries.org.uk

Institute and Faculty of Actuaries, 1st Floor, Park Central, 40/41 Park End Street, Oxford, OX1 1JD

+44 01865 268207

We aim to respond to all enquiries within two working days.

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Events calendar

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    Drawing from his most recent book “The New Long Life” and his longevity research Andrew J Scott will outline how longer lives and new technologies will fundamentally reshape how we structure our lives and transform the economy. As well as looking at the agenda this will set governments and corporates he will focus on the implications for you and how you prepare your future career.

  • India Town Hall

    Webinar
    28 January 2021

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    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual India Town Hall 2021, hosted by John Taylor with IFoA Council Member Mahidhara Davangere and IFoA Chief Executive, Stephen Mann. 

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    In this Thought Leadership Lecture, Economist, Vicky Pryce, will be discussing world economic trends, including the differences in geographical performance and how output is recovering and where.

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    Led by Dr. Jim Baxter, University of Leeds, this webinar introduces some key ideas in the ethics of trust, with a particular focus on those in, or on the path to, leadership roles. Dr Baxter is joined by a panel of experienced leaders who will give their personal perspectives on how they understand the value of trust and how they seek to promote and inspire trust, drawing on their experiences of leadership. The panel includes:

  • Health and Care Hot Topics webinar

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    In this webinar, we have two presentations showing the latest research on the implications for life and health insurers of two key issues: genomics and pandemic risk.

    Dr Peter Joshi and Paul Timmers will share their research on how well-established underwriting processes can allow for genomics in predicting expected mortality and morbidity. They will then discuss the potential for stratified screening and personalised medicine to improve health and reduce claim costs.

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    As the world’s attention begins to turn to COP26 later this year in Glasgow, Sarah Gordon (Chief Executive, Impact Investing Institute) will share her vision for how the financial services industry can deliver for people and the planet, as well as how to encourage more investment with the intention to generate positive, measurable social and environmental impact alongside a financial return.

  • Sub-Saharan Africa Town Hall

    26 February 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual SSA Town Hall 2021, hosted by John Taylor with IFoA Council Members Mukami Njeru, Prosper Matiashe and IFoA Chief Executive, Stephen Mann.

  • MENAP Town Hall

    2 March 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual MENAP Town Hall 2021, hosted by John Taylor and IFoA Chief Executive, Stephen Mann.