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|
|VEE Accounting and Finance||CB1|
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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