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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. 

CP1
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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Contact Details

Member Services Team

memberservices@actuaries.org.uk

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

+44 1865 268207

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

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    13 October 2021 - 8 December 2021

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    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

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    Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.