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Exemptions for Society of Actuaries’ students

If you have passed Society of Actuaries' exams after 2008 we can grant exemptions from some of our exams.

Who is eligible for exemptions?

Members who joined the IFoA before 17:00 (BST) on the 31 July 2019 and hold the exam passes for subjects from the Society of Actuaries until 31 December 2021 may be eligible for exemption from certain subjects.

Student members have until 31 December 2022 to claim their exemptions.

Who is not eligible for exemptions?

Members who joined the IFoA after 17:00 (BST) on the 31 July 2019 are not eligible for exemptions based on the exam passes or exemption recognition from the Society of Actuaries.  If you joined the IFoA after the 31st July 2019, please see the Transfer of Prior Learning category for further details before you consider IFoA student membership. If you joined the IFoA on or before 31 July 2019, but subsequently resigned or lapsed your membership, for a short period of time ( normally less than 12 months), you should contact Education Services to discuss your case.

From 1 January 2023 onwards the IFoA will not be accepting any applications for exemptions from the Society of Actuaries.

Exemptions available are listed below.

Society of Actuaries exams Sat between January 2019 and December 2021 IFoA Fellowship exemptions
Exam P & VEE Mathematical Statistics CS1
Exam SRM & Exam STAM & Exam LTAM CS2
Exam LTAM & Exam FM CM1
Exam IFM CM2
VEE Accounting and Finance CB1
VEE Economics CB2

All modules of Fundamentals of actuarial practice (you must provide evidence that all modules of Fundamentals of actuarial practice including assessments, have been passed with the SoA. Students who have been granted an exemption from FAP by the SoA are not eligible to apply for an exemption from CP1)

Individual taking FAP Final Assessment Version FA 2021-10-01 starting 1st October 2021 must have uploaded their examination by 31st December 2021. Assessments submitted to the SoA from 1st January 2022 will not be eligible for a CP1 exemption. Proof of submission by the 31st December 2021 must be provided to the IFoA with your exemption application. 

Group & Health GHCORU/C, GH SPC, GHADV SP1
Individual Life & Annuities ILA LRM, ILA LP, ILA LFVU/C SP2
Retirement Benefits RET DAU/RET FRC/RET RPIRM SP4
All exams to complete the General Insurance track (GIINT, GIRR, GIFRE, GIADV) SP7 and SP8
Society of Actuaries exams sat and passed up until December 2018 IFoA Fellowship exemptions
Exam P - Probability, and VEE Statistics CT3
Exam FM - Financial Mathematics CT1
VEE Corporate Finance CT2
Exams MLC - Life contingencies, and C - Construction and evaluation of actuarial models
(Exemptions are not given for these exams individually - you must have passed both exams.)
CT4 and CT5
VEE - Economics CT7
Exam MFE - Financial Economics CT8
All modules of Fundamentals of actuarial practice (you must provide evidence that all modules of Fundamentals of actuarial practice including assessments, have been passed with the SoA. Students who have been granted an exemption from FAP by the SoA are not eligible to apply for an exemption from CA1) CA1
Group and Health Company/ Sponsor Perspective (CSP) ST1
Individual Life and Annuities Company/ Sponsor Perspective (CSP) ST2
Retirement Company/ Sponsor Perspective (CSP) ST4
Advanced Portfolio Management (Investments) ST0
All exams to complete the General Insurance track ST7 and ST8

Society of Actuaries' offer to students who have passed our exams

If you are a student of the Society of Actuaries you may be eligible for exemptions from some of their exams, based on the exams you have passed with the IFoA.

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Member Services Team

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

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

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    This session will focus on the transformation roadmap of the healthcare sector in KSA and the role of actuarial capabilities in enhancing its evolution to the desired end stage as per the objectives of the Vision 2030. The discussion will focus how the system has evolved so far and shed light on  the expected future changes. Through examining  the transformation, we will highlight how the sector is and can use actuarial  expertise to not only assist with this transformation but also use basic actuarial principles to identify the key risks and their respective mitigation strategies.

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    In the UK, the idea of collective defined contribution (CDC) pension schemes is gaining more attention with the launch of the Royal Mail CDC scheme, the first of its kind in the UK. Our recent research on CDC plans investigates the sources of the putative benefits of CDC schemes: the smoothing of pensions for members.  Using an attribution analysis to burrow into the scheme design, the reason for the smoothing of members' pensions is explained and understood.

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  • Social Care Agenda

    11 October 2022

    Spaces available

    Social care reform has long been on the to-do list for successive governments over the last two decades. In February, the government’s proposed reforms to adult social care [including cap on care costs] was published. Against this backdrop of funding promise and rising National Insurance taxation, in this session we will debate the resilience of these new proposals, the impact of future demand for care services and what role for the insurance industry and the important role it has played in long-term care funding in other countries where public-private partnership works.

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  • GIRO Conference 2022

    ACC Liverpool  
    21 November 2022 - 23 November 2022
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  • Life Conference 2022

    ACC Liverpool Kings Dock Liverpool Waterfront Liverpool Merseyside L3 4FP
    23 November 2022 - 25 November 2022
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    Life Conference returns as an in-person conference in 2022, giving you an opportunity to connect with your peers and fellow actuaries in your sector, in person. You will also hear leading experts discuss key issues, emerging ideas, and new research across the Life insurance sector.

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