You are here

Frequently Asked Questions - Curriculum 2019

General

  • 1.When will the first examination for Curriculum 2019 be sat?

    The first examinations for the new curriculum will be sat in April 2019.

  • 2. Is there an examination timetable for 2019?
  • 3. Where can I find the syllabus?

    The individual subject syllabus can be found alongside each of the new subject.

  • 4. Can I see sample examination papers for the new curriculum?

    Yes, there are sample papers for each of the new subjects.

  • 5. What will the fees be for the new exams?

    The fees for the new examinations can be found in the 2019 exam fees document.

  • 6. Will the recommended study hours for CS/CM be the same as CTs?

    No. The new recommended study hours can be found alongside each subject, but are summarised in the recommended study hours document

  • 7. The CT9 exam had lower study requirement, will this be same for CB3?

    There will be no change to the study requirement in the transition from CT9 to CB3.

  • 8. Will there be a non-members’ exam available under the new curriculum, and if so which one would this be?

    Yes. Non-members will have a choice of 2 subjects under curriculum 2019. These are CS1 or CM1. You will only have to sit one subject. Please note that each subject has two examinations, Whichever subject you choose you will be required to sit both examinations at the same sitting.

Exemption principles

  • 1. I think I am eligible to claim an exemption from an equivalent CT subject. Can I still apply?

    Yes. To claim a CT exemption, (except for those on accredited university programmes) the relevant examination will need to have been sat and passed by December 2018. Individuals will have until December 2023 to claim their exemption.

  • 2. I am on an accredited university programme, based on the previous curriculum. Will I still be able to claim exemptions?

    Yes. University students who begin their degrees based upon the previous curriculum will have until December 2023 to pass and claim their exemptions. These will be mapped to the corresponding subjects in the new curriculum.

  • 3. I have completed a numerate degree on a programme that is not accredited by the IFoA. There is an existing process where I can apply for some exemptions. Will this continue under Curriculum 2019?

    Yes. Applications for exemptions against the existing subjects (CT1, CT2, CT3 and CT7) will need to be made by December 2018. Applications after this date will be accepted for CS1, CB1 and CB2 and will need to map against the programme you have completed.

  • 4. What will be the status of Mutual Recognition Agreements (MRAs) be, once the IFoA has introduced Curriculum 2019?

    International actuarial associations for whom we have MRAs, will need to discuss their proposed curriculum with the IFoA. There will be no automatic extension of the MRA after December 2018.

  • 5. I am a member of another actuarial association which has an agreement with the IFoA. Can I still apply for subject exemptions covered by the existing agreement? What will happen after January 2019?

    Applications from individuals from other actuarial associations that we have agreements with, for subjects passed before December 2018 will be considered. Individuals will have until December 2023 to claim their exemption. Examinations sat after December 2018 will be subject to further discussions with those associations. Further details will be released in the next few months.

  • 6. I am a member of another professional body that has an exemption agreement with the IFoA. Will this agreement continue once the new curriculum is introduced?

    Applications from individuals from other professional bodies that we have agreements with, for subjects passed before December 2018 will be considered. Individuals will have until December 2023 to claim their exemption. Examinations sat after December 2018 will be subject to further discussions with those professional bodies. Further details will be released shortly, but in the first instance you should make contact with your professional body.

Learning materials

  • 1. Where do I find the Core Reading?

    You can find the IFoA Core Reading at the E-Shop. ActEd (BPP) provide face-to-face tuition and distance learning materials for the IFoA examinations. More information is available at on the ActED website.

  • 2. How can I access the learning materials?

    Core Reading for each subject is produced by the IFoA and is available through the E-Shop. ActEd (BPP) is the main provider of additional supporting materials and learning resources. Their website provides information on what resources are available and the costs.

  • 3. Are there individual sets of Core Reading for CS1, CS2 and CM1 and CM2?

    Yes, there are sets of Core Reading for each of the four subjects.

Route to Qualification

  • 1. Is there a recommended route to qualification? What subjects should I be attempting first?

    The qualification structure is designed to help students with their studies. For both Associate and Fellow, students will need to pass or obtain exemptions from all the Core Principles subjects. It therefore makes sense to complete these before progressing to the Core Practice subjects. The Core Principles can be taken in any order, but it does make sense to pass certain subjects before attempting others. CS1 is recommended as the starting point. This provides a grounding in the basics of statistical techniques. CS2 then builds on this. So certainly, CS1 before CS2. CM1 and CM2 then cover the principles of mathematics and modelling as applied to actuarial work, and CM2 then builds upon this. Again, CM1 before CM2. Some students may want a break from heavy maths between the CS and CM subjects and so they might take the opportunity to sit CB1 at this stage. Finally, in order to gain the most benefit, it is advisable to sit CB3 after CB1 and CB2.

  • 2. Can I attempt an SP paper before I have completed all the Core Principles and Core Practices?

    Yes, and some students choose to do this, especially if they are working in a related field. But otherwise it does make sense to progress through the qualification structure as described.

  • 3. Will my ST3, SA5 and SA6 exam still count towards qualification?

    Yes, it will count as one of your SP/SA subjects provided you have passed!

Assessment

  • 1. I understand that ‘reading time’ has been removed from the examination schedule. Why is this?

    We wanted to give our adult learners the choice of how to use this time. We haven’t removed the time but it is now included in the overall time; for example, a 3 hour paper is now 3 hours and 15 minutes. The only exception is Paper 2 of CP1, which retains a dedicated 45 minutes of planning time, followed by a 2hours and 30 minutes examination.

  • 2. I see that the CS and CM subjects have two papers. What are the different assessments?

    The new curriculum has allowed us to review the way we assess our subjects. The traditional examination has an important role in testing knowledge and understanding, but now the second paper, (‘Problem-based Assessment’), tests the application of this knowledge using real sets of data.

  • 3. Do I have to attempt both papers in the same sitting?

    Yes, you will have to sit both papers in the same sitting. You should view this as an examination with two elements of assessment.

  • 4. Do I have to pass both papers in the same sitting?

    The two papers for the CS and CM subjects will be weighted. Paper A, the 3 hours and 15 minutes paper will be weighted at 70% and the Problem-based Assessment, Paper B, at 30%. The outcome will be a single mark. So, the marks for the two papers will be added together and, provided you achieve the pass mark, you will pass. There is no requirement to achieve a pass in both papers. If you fail either CS or CM, you will be required to take both Paper A and Paper B again. 

  • 5. Will I have to familiarise myself with ‘R’ code or is everything I need to know contained in the Core Reading?

    We recommend that those sitting the papers requiring ‘R’ (CS1 and CS2) familiarise themselves with ‘R Studio'. There are lots of free resources available to help you with this and we will be providing you with an ‘R’ guide detailing the packages that you will need.

  • 6. In the case of CS/CM subjects, will there be a separate pass mark for each part? If not, how will the final pass mark be decided?

    There will not be a separate pass mark for each paper. The elements of assessment will be marked and the two marks aggregated with a 70:30 split between the theory paper and the Problem-based Assessment. A final single mark will then be calculated for each of the CS and CM subjects (CS1, CS2, CM1, CM2). The Chief Examiner will set the pass mark for each subject.

PPD

  • 1. What is PPD? How does if differ from the Work-based Skills scheme?

    PPD is the new online system for recording your work experience as part of your qualification route. Unlike Work-based Skills, PPD is submitted online via your student portal on the IFoA website. Instead of the seven areas of Work-based Skills, PPD has three Objectives: 1.) Communication, 2.) Decision making and 3.) Professionalism. Within these three areas there are 10+ competencies you can choose from. You will need to read through these competencies and decide which ones are best suited for your workplace.

    These competencies have credit values. Some are worth one credit, and others are worth two. By the time you come to qualify as an Associate you will need to have 10 credits logged. To qualify as a Fellow, you will need to log a total of 20 credits.

    PPD now needs to be submitted annually. Each student will have their own PPD deadline; that date can be found in your PPD online portal. Per year, you will need to submit a minimum of three credits and two formal learning hours. Formal learning hours can be any learning and development activity students undertake.

  • 2. I have already started on my Work-based Skills. Are there transition arrangements?

    - From September 2018 all students need to move onto the PPD recording. If your PPD deadline is before that point, e.g. 1 June 2018, you can record 1 June 2017 to 1 June 2018, instead of Work-based Skills.

    - From September 2018 - September 2019 students will need one year of PPD and a minimum of two years of Work-based Skills to qualify as a Fellow.

    - From September 2019 - September 2020 students will need two years of PPD and a minimum of one year of Work-based Skills to qualify as a Fellow.

    - From September 2020 onwards Work-based Skills is no longer a requirement for qualification. Students will need three PPD years logged instead. 

    - If you have completed all your examinations and you submit your workbased skills or Form A/Form B by 18th January 2019 you can complete without a requirement to submit PPD. This only applies to those who intend to submit workbased skills or Form A/Form B by this date.  

    Read the full transitional arrangements

Transition Arrangements

  • 1. I am already a student with the IFoA and have completed a number of exams. How can I find out what the transition arrangements are?

    Details of the transition arrangements are outlined in the Curriculum 2019 document.

  • 2. What happens if I have either CT1 or CT5, CT4 or CT6 and don’t have the other subject by December 2018?

    We have been in contact with all our student members who do not have all four subjects alerting them to this fact and detailing the next available examination sitting. If you do not have the four combinations, then you will need to sit the new subjects. You will not get a part exemption for completing one part of the combination.

  • 3. What if I have received an exemption recommendation from an IFoA accredited university but haven’t claimed it yet?

    You will have until December 2023 to claim your exemption.

  • 4. What if I think I may be entitled to an exemption from a university degree program that isn’t accredited by the IFoA.?

    If you think you may be eligible then details of how to apply can be found on our exemptions pages.

  • 5. When will my current exam history be updated to reflect the new subjects?

    This will take place in early January 2019, before registration opens for the April 2019 examinations.

If you have any further queries, or would like us to add to these FAQs, please contact the education services team.

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.

Filter or search events

Start date
E.g., 17/09/2019
End date
E.g., 17/09/2019

Events calendar

  • KSS event – The Future of the Actuarial Profession with Alan Watson (Glasgow)

    Mercer, 5 George Square, Glasgow G2 1AR
    17 September 2019

    Fully booked.

    This event is now fully booked 

    This KSS talk will explore how the Actuarial Profession is changing by looking at the past, the current and the future; considering what will be the key issues impacting the Profession over the next 20 years and why this will be different from today. Why will areas like data science be important?  What does the future hold for reserved roles? What impact will the Profession have on other professionals?  And much more!

  • KSS event – The Future of the Actuarial Profession with Alan Watson

    Willis Towers Watson 2 Lochrin Square, 96 Fountainbridge, Edinburgh EH3 9QA
    23 September 2019

    Spaces available

    This KSS talk will explore how the Actuarial Profession is changing by looking at the past, the current and the future; considering what will be the key issues impacting the Profession over the next 20 years and why this will be different from today. Why will areas like data science be important?  What does the future hold for reserved roles? What impact will the Profession have on other professionals?  And much more!

  • GIRO Conference 2019

    EICC, The Exchange, 150 Morrison St, Edinburgh EH3 8EE
    24-26 September 2019
    Spaces available

    GRIO 2019

  • The Future of the Actuarial Profession

    Staple Inn Hall, High Holborn London WC1V 7QJ
    3 October 2019

    Fully booked.

     

    Three actuaries – and CEOs – discuss their views on how the business world is changing and what that might mean for actuaries in the future.

  • Spaces available

    Have you ever thought about working in wider fields? Would you like to play a role in the fight against climate change to make the planet better? 

    It can be difficult to do this - but seeing an example you can follow can make it more realistic. In this ‘green’ case study a template is outlined to show how actuaries can apply their skills more broadly - and in doing so, to make a difference.

  • RSS/IFoA Data Science Ethics: the role of practitioners

    Royal Statistical Society, 12 Errol St, London EC1Y 8LX
    7 October 2019

    Spaces available

    The Institute and Faculty of Actuaries and the Royal Statistical Society have worked together to develop joint ethics guidance on data science. This is the culmination of an 18 month programme of practitioner led work. 
     
    Join us for the launch of this new guidance, with a high-level panel discussion which will explore the role of data science practitioners and professional bodies in data ethics. 

  • SIAS Event: AGM and talk on a Monetary Approach to Economics

    Staple Inn Hall. High Holborn, London, WC1V 7QJ
    8 October 2019

    Spaces available

    The SIAS Annual General Meeting will commence at 5.45pm and be followed by a talk given by the well known economist and author, Steve Keen, at 6pm. A live webinar will be available. 

  • Career Event - Count Me In

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    10 October 2019

    Spaces available

    This event is aimed at school age young people to encourage then into the profession

    Join us and leading actuarial employers at our free Count Me In STEM careers event in London.  Find out more about a range of rewarding careers in actuarial science and how we are supporting and promoting diversity in the profession.

  • KSS Event – GAD: the 100 year life (Edinburgh)

    KPMG  Saltire Court 20 Castle Terrace Edinburgh EH1 2EG
    22 October 2019

    Spaces available

    The Government Actuary’s Department (GAD) marks its centenary this year. George Russell, formerly Deputy Government Actuary, who currently heads up GAD’s Edinburgh office, leading on GAD support to the devolved administrations in Scotland and Northern Ireland, will outline GAD’s development over that period and its range of work today. Having just “celebrated” his 25th anniversary of joining GAD, George will also reflect on some of the challenges and opportunities of advising at the interface of the actuarial and the political worlds.

  • KSS Event – Equity Release Mortgages: The Irish Experience

    Room CM S.01 (Second floor, Colin Maclaurin Building, building 22 on the campus map.) Campus maps can be found at https://www.hw.ac.uk/uk/edinburgh/map.htm
    23 October 2019

    Spaces available

    This is a co-branded KSS/Heriot-Watt University event.  Equity release mortgages (ERMs), also called lifetime mortgages, have played an increasing role in generating income for retired home-owners.  As new liquidity rules have reduced the supply of bank lending, so insurers have stepped in, encouraged by generous regulatory treatment for annuity writers.

  • KSS event – GAD: the 100 year life (Glasgow)

    Barnett Waddingham 163 West George Street, Glasgow, G2 2JJ
    24 October 2019

    Spaces available

    The Government Actuary’s Department (GAD) marks its centenary this year. George Russell, formerly Deputy Government Actuary, who currently heads up GAD’s Edinburgh office, leading on GAD support to the devolved administrations in Scotland and Northern Ireland, will outline GAD’s development over that period and its range of work today. Having just “celebrated” his 25th anniversary of joining GAD, George will also reflect on some of the challenges and opportunities of advising at the interface of the actuarial and the political worlds.

  • Sessional Meeting - Autonomous Vehicles and impacts on the wider insurance industry

    Staple Inn, High Holborn, London WC1V 7QJ         
    28 October 2019

    Spaces available

    The Sessional Meeting is now fully booked.

    Please click here to register on the waiting list.

     

    The Institute and Faculty of Actuaries is running a sessional meeting on autonomous vehicles on 28th October.  The session will showcase the work of the IFoA “Autonomous Vehicles” working party alongside a number of expert external presenters. 

  • ARC Event: Beyond Proportional Hazards

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    30 October 2019

    Spaces available

    ARC Event: Beyond Proportional Hazards: Statistical methods for assessment of the impact of medical advances and health interventions on longevity and population projections.

    This workshop is being delivered by the Actuarial Research Centre’s (ARC) ‘Big Health and Actuarial Data’ Research Programme.

  • Hot Topics in Health and Care: Networking and Drinks

    Staple Inn, 4 High Holborn, London WC1V 6DR
    4 November 2019

    Spaces available

    This evening will feature two new cases studies that highlight the implications for insurers of issues impacting on health and mortality for life, pensions, and health and care products; Impactability modelling: a worked example in Type II diabetes presented by Josephine Robertson, and Seasonal Mortality in England and Wales 1993-2016 presented by Mary Hall, Dublin City University.

  • SIAS Event: Introduction to the Mortality Research Steering Committee (MRSC)

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    5 November 2019

    Spaces available

    The MRSC is responsible for guiding the profession’s research in the areas of longevity, mortality and morbidity such that it is recognised as a thought leader in this area. It has recently been reviewing what the priorities and have identified 6 areas that we believe are the most important areas of research that should be the current focus and these are:

  • IFoA CPD Co-ordinators' Briefing

    Staple Inn Hall, High Holborn London WC1V 7QJ
    7 November 2019

    Spaces available

    The theme of this year’s annual briefing is: Lifelong Learning – providing continuous development for our members.

    This event is primarily for volunteer CPD Co-ordinators, who attend to represent their organisation. CPD Co-ordinators play a key role in effective engagement between organisations who employ our members and the Institute and Faculty of Actuaries (IFOA).

  • The challenges for AI in Autonomous driving – Professor Andrew Blake

    Royal College of Physicians of Edinburgh, 11 Queen Street, Edinburgh, EH2 1JQ
    11 November 2019

    Spaces available

    In conjunction with the Scottish Board and supporting the IFoA’s focus on data science.

    The IFoA’s Scottish Board have arranged for UK pioneer in Computer Vision and Machine Intelligence, Professor Andrew Blake to speak to delegates on the subject of AI in Autonomous driving. This lecture will focus on safety-critical operation and the computation of risk.  

  • Autumn Pension Seminar

    Grand Connaught Rooms, 61-65 Great Queen St, Holborn, London WC2B 5DA
    13 November 2019

    Spaces available

    Join us for this brand new seminar that brings together our Current Issues in Pensions, Pensions and the Law, and Investment for Pension Actuaries events. The seminar builds on the IFoA’s Annual Pension Conference with sessions covering CDC, TPR’s code of practice, investments, legal updates and Professional Skills Training with a focus on interactive discussion throughout.

  • KSS event: How is Scotland’s population changing and what are the implications?

    Barnett Waddingham, 163 West George Street, Glasgow, G2 2JJ
    14 November 2019

    Spaces available

    The National Records of Scotland (NRS) collects, preserves and produces information about Scotland's people and history to inform current and future generations - work that underpins the fabric of Scottish society and tells the story of our nation. This KSS talk will explore the following and other areas impacting Scotland’s changing population, and assess the potential implications of the changes:

    • population statistics
    • life expectancy
    • changes in age structure
    • birth and death rates, including causes of death statistics.
  • Life Conference 2019

    The Convention Centre Dublin, Spencer Dock, North Wall Quay, Dublin 1
    20-22 November 2019
    Spaces available

    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.

  • ARC Workshop: Modelling Socio-Economic Differences in English Mortality

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    2 December 2019

    Spaces available

    Purpose
    The workshop will give participants detailed insights into how a large and detailed dataset can be used to assess levels of mortality inequality in England, using a number of novel statistical methods. We will also address the question: are regional variations in mortality real or imaginary?

  • Autumn Lecture 2019, London - Rt Hon Nicky Morgan MP

    Lincoln's Inn The Treasury Office, London WC2A 3TL
    2 December 2019

    Fully booked.

    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.

  • Autumn Lecture 2019: Live Streaming

    Webinar 
    2 December 2019

    Spaces available

    Watch the live stream of this year's Autumn Lecture with guest speaker Rt Hon Nicky Morgan MP. 

  • Behavioural Finance Research Launch- 14 January 2020

    Staple Inn, 4 High Holborn, Holborn, London WC1V 6DR
    14 January 2020

    Fully booked.

    We are delighted to announce the launch of the findings from our ARC funded Behavioural Finance research with a special evening event at Staple Inn on Tuesday 14th January 2020. Entitled Behavioural Aspects of Institutional Investment Decision-Making, this research programme is being delivered by City, University of London, Leeds University Business School and Ipsos.

    This event is now full. Please register for the waiting list.

  • Sessional: Impact of E-cigarettes Working Party

    Royal College of Physicians, 9 Queen St, Edinburgh EH2 1JQ
    24 February 2020

    Spaces available

    This sessional meeting will be of direct interest to actuaries and others working in the in the Health and Care, Life or Pensions sectors or indeed actuaries with an interest in morbidity or mortality.