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 sat with the Actuarial Society of South Africa until 31 December 2021 maybe eligible for exemption from certain subjects.
Members holding exam passes under the previous IFoA curriculum must have been awarded passes in both CT1 and CT5 to be granted CM1 and both CT4 and CT6 to be granted CS2. These exam passes must have been awarded before 31 December 2018.
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 from the Actuarial Society of South Africa.
From 1 January 2023 onwards the IFoA will not be accepting any applications for exemptions from the Actuarial Society of South Africa.
Exemptions available under the current curriculum are listed below.
| South African exams sat between 1st January 2019 and 31st December 2021 | IFoA exemptions | |
|---|---|---|
| Part A1 (Foundation Technical) | A111: Actuarial Statistics A112: Business Economics A113: Business Finance |
CS1: Actuarial Statistics 1 |
| Part A2 (Intermediate Technical) |
A211: Financial Mathematics + Passes in both A211 and A213 are required A212: Risk Modelling and Survival Analysis AS214: Loss Reserving and Financial Engineering |
CM1: Actuarial Mathematics 1
CS2: Risk Modelling and Survival Analysis CM2: Loss Reserving and Financial Engineering |
| South African exams until 31st December 2018 | IFoA exemptions | |
|---|---|---|
| Part A1 (Foundation Technical) |
A101: Probability and Mathematics Statisitics |
CT3: Probability and Mathematics Statistics CT7: Business Economics CT2: Finance and Financial Reporting |
| Part A2 (Intermediate Technical) |
A201: Financial Mathematics |
CT1: Financial Mathematics CT4: Models CT5: Contingencies CT6: Statistical Methods CT8: Financial Economics |
| Part A3 (Core Principles) |
A301: Actuarial Risk Management |
CA1: Actuarial Risk Management |
| Part A4 (Associateship Professionalism Skills) |
A401: Business Awareness Module |
CT9: Business Awarenes |
University Exemptions
If you have completed a degree course with a South African university that is accredited by the Actuarial Society of South Africa (ASSA), and have had exemptions confirmed by ASSA you can apply for exemptions from previous CT1-8 exams and CA1 exam. Any CA1 university pass awarded after 1 April 2016 will not be considered for an exemption and must be claimed before the deadline of December 31 2022.
CP2 Model Documentation, Analysis and Reporting
If you passed A402 Model Documentation, Analysis and Reporting with ASSA before 1 March 2015, you can apply for exemption from our CP2 exam. We cannot grant an exemption from CA2 if you passed the A402 Model Documentation, Analysis and Reporting exam after 1 March 2015. This is because the structure of our CA2 exam changed significantly in March 2015.
CP3 Communications
We cannot grant an exemption from CP3 (formally CA3) Communications if you have passed the A302 Communications exam. This is because the structure of our CA3 exam changed significantly in April 2010.
SP and SA Subjects
ASSA and IFoA students need to pass the SP and SA exams with one of the 2 organisations. If you have exam passes or exemptions from one body at SP and SA level but wish to qualify as a Fellow with the other body, those passes will not be recognised and you will need to retake the appropriate exams or apply under Mutual Recognition if appropriate.
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Contact Details
Education Services Team
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Institute and Faculty of Actuaries, 1st Floor, Park Central, 40/41 Park End Street, Oxford, OX1 1JD
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Events calendar
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Behavioural Science Series with Keith Grint - Wicked Problems, Clumsy Solutions and Leading Change
19 April 2021
Wicked Problems, Clumsy Solutions and Leading Change -
Dr Catherine Donnelly will present the basics of the structures for pooling longevity risks and summarise recent research results in this area in addition to outlinging future research around this topic. This is work under a research programme funded by the IFoA's Actuarial Research Centre, called 'Minimizing longevity and investment risk while optimising future pension plans'. -
Professional Skills Training Webinar - 21 April 2021
21 April 2021
Climate-Related Risk - This free to view webinar on Climate-Related Risk is the first in a series focusing on some of the ‘Hotspots’ identified in the JFAR Risk Perspective bringing the Risk Perspective to life with practical illustrations and insights from subject experts from the IFoA and other Regulators -
Recent decades have seen institutions, such as employers and financial services, give people more choice and flexibility, but these freedoms have come with more responsibilities. Individuals are now responsible for managing more of their own financial risks, from ensuring they put enough money into their pension to securing affordable protection to be financially resilient.
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Actuarial Innovation in the COVID-19 era
This event is online.26 April 2021 - 7 May 2021
Join us for this brand new IFoA webinar weries comprising of a fortnight of webinars, panel sessions and a hackathon, that showcase the range of ways in which the actuarial profession has added value, in the public interest, to the understanding and management of the current and future pandemics through insight and learning. -
This event is now temporarily closed on Monday 26 April, but the session will be repeated on Tuesday 27 April, 09.00-10.30. Please click here to register your place.
Actuaries have a lot to offer biodiversity management over the next decade as the world develops more depth to its response to this global challenge. This sessional offers an opportunity to learn about this emergent risk, to contribute to our thinking as a profession and help us develop the next steps forward.
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Europe Town Hall
28 April 2021
IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual Europe Town Hall, hosted by John Taylor with IFoA Council Members Alan Rae, Jennifer Hartley, Maribel Vasquez Flores and IFoA Chief Executive, Stephen Mann.
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Mis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis. However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year. This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work -
Finance & Investment Virtual Conference 2021
Available to watch globally in May.10-12 May 2021
This year's Finance and Investment Virtual Conference takes on the timely theme of ‘resilience’, something we have all learnt a lot more about in the last year! Our diverse range of talks will explore the theme of resilience in a variety of ways including in building robust investment portfolios, in the incorporation of ESG factors, in govern -
Wearables in insurance: a win-win opportunity
14 May 2021
This talk will explore the potential benefits that wearable tech can bring to health & protection insurers and their customers. The traditional approach of integrating wearables into insurance has largely focused on measuring steps and using rewards-based incentive programs to encourage more activity. -
Join us for this talk with Professor Sir Adrian Smith as part of the 'Dr Patrick Poon Presidential Speaker Series'. Professor Smith joined The Alan Turing Institute as Institute Director and Chief Executive in September 2018. In November 2020, he became President of the Royal Society, in addition to his leadership of the Turing. He is also a member of the government's AI Council, which helps boost AI growth in the UK and promote its adoption and ethical use in businesses and organisations across the country. He received a knighthood in the 2011 New Year Honours list. -
CILA 2021
Available to watch globally in May.19-21 May 2021
We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; on-going financial consequences of the COVID pandemic; or self-imposed changes in regulatory requirements and accounting standards. -
Pensions Conference 2021
Online webinar series16-22 June 2021
Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.
Wicked Problems, Clumsy Solutions and Leading Change
Dr Catherine Donnelly will present the basics of the structures for pooling longevity risks and summarise recent research results in this area in addition to outlinging future research around this topic. This is work under a research programme funded by the IFoA's Actuarial Research Centre, called '
Climate-Related Risk - This free to view webinar on Climate-Related Risk is the first in a series focusing on some of the ‘Hotspots’ identified in the 
Join us for this brand new IFoA webinar weries comprising of a fortnight of webinars, panel sessions and a 
Mis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis. However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year. This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work
This talk will explore the potential benefits that wearable tech can bring to health & protection insurers and their customers. The traditional approach of integrating wearables into insurance has largely focused on measuring steps and using rewards-based incentive programs to encourage more activity.
Join us for this talk with Professor Sir Adrian Smith as part of the 'Dr Patrick Poon Presidential Speaker Series'. Professor Smith joined The Alan Turing Institute as Institute Director and Chief Executive in September 2018. In November 2020, he became President of the Royal Society, in addition to his leadership of the Turing. He is also a member of the government's AI Council, which helps boost AI growth in the UK and promote its adoption and ethical use in businesses and organisations across the country. He received a knighthood in the 2011 New Year Honours list.
Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.