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 Institute of Actuaries India (IAI) until 31 December 2021 maybe eligible for exemption from certain subjects. It should be noted that for the IAI December 2018 examinations, the IFoA will not be recognising IAI passes achieved.
Members holding exemptions 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 Institute of Actuaries in India.
From 1 January 2023 onwards the IFoA will not be accepting any applications for exemptions from the Institute of Actuaries in India.
Exemptions available under the current curriculum are listed below.
| Institute of Actuaries of India exam | IFoA Fellowship exemptions |
|---|---|
| Any of CM1, CM2, CS1, CS2, CB1 and CB2 (If sat and passed between January 2019 and December 2021) | The corresponding CS, CM or CB exams |
| CB3 (If sat and passed between January 2019 and December 2021) | CB3 |
| CP1 (If sat and passed between January 2019 and December 2021) | CP1 |
| CP2 (If sat and passed between January 2019 and December 2021) | CP2 |
| CP3 (If sat and passed between January 2019 and December 2021) | CP3 |
| Any two SP subjects ((If sat and passed between January 2019 and December 2021) | The corresponding SP exams |
Exemptions available under the previous curriculum are listed below.
| Institute of Actuaries of India exam | IFoA Fellowship exemptions |
|---|---|
| Any of CT1, CT2, CT3, CT4, CT5, CT6, CT7 or CT8 (If sat and passed between May 2005 and September 2018 exam sessions) | The corresponding CT exams |
| CT9 (If sat and passed between June 2013 and December 2018 exam sessions) | CT9 |
| CA1 (If sat and passed between May 2005 and September 2018 exam sessions) | CA1 |
| CA2 (If sat and passed between May 2005 and 4 March 2015 exam sessions. This is because the structure of our CA2 exam changed significantly in March 2015) | CA2 |
| CA3 (If sat and passed between May 2005 and 8 July 2017 exam sessions. This is because the IFoA's CA3 exam was replaced by CP3 from September 2017) | CA3 |
| Any two ST subjects (Awarded after 1 May 2005, excluding ST3 which is no longer part of the IFoA syllabus) | The corresponding ST exams |
For students with degrees from universities in India
Applications for exemptions from IFoA exams based on degrees gained from Indian universities will only be considered from students who have graduated from:
- the Indian Statistical Institute
- an Indian Institute of Technology, or
- an Indian Institute of Management
The IFoA will not grant exemptions based on qualifications from any other universities in India.
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Events calendar
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Sessional Event: The IFRS 17 Contractual Service Margin: A Life Insurance Perspective
Webinar5 October 2020
Delivered by the IFRS 17 Contractual Service Margin working party. -
Why Certified Actuarial Analysts add value to employers, including both insurers and consultancies
Webinar6 October 2020
The Certified Actuarial Analyst (CAA) qualification has rapidly established itself as adding real value, to insurers and consultancies, and to the clients of consultancies, around the World. CAAs work alongside actuaries and actuarial students, as well as other financial services professionals, in an increasingly broad range of roles and fields. -
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Webinar6 October 2020This session is a repeat of the one earlier today at 09:30 -
Autumn Lecture 2020: Professor Elroy Dimson
Online webinar14 October 2020
Many individuals and institutions have a long-term focus, and invest funds for the benefit of future generations. Their strategy should reflect their long horizon. University endowments are one of the oldest classes of institutional investor, and I will present the first study of the management of these endowments over the very long term. -
GIRO Conference 2020 Webinar Series
Available to watch globally in November.02-13 November 2020
This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area.
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Life Conference 2020 Webinar Series
Online16 November 2020 - 27 November 2020
This year's Life Conference has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the life insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's website.
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Autumn Pensions Webinar: Update from The Pensions Regulator (TPR)
Webinar1 December 2020
This webinar will provide an update on the emerging thinking around future regulation of DB schemes:
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Autumn Pensions Webinar: To the end game and beyond
Webinar2 December 2020The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer. -
Autumn Pensions Webinar: Cash is King - What next for CDI?
Webinar4 December 2020Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements. -
Autumn Pensions Webinar: Legal update - The letter of the law
Webinar7 December 2020Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year -
Autumn Pensions Webinar: Impact of Dividends
Webinar8 December 2020The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report.
Delivered by the IFRS 17 Contractual Service Margin working party.
The Certified Actuarial Analyst (CAA) qualification has rapidly established itself as adding real value, to insurers and consultancies, and to the clients of consultancies, around the World. CAAs work alongside actuaries and actuarial students, as well as other financial services professionals, in an increasingly broad range of roles and fields.
Many individuals and institutions have a long-term focus, and invest funds for the benefit of future generations. Their strategy should reflect their long horizon. University endowments are one of the oldest classes of institutional investor, and I will present the first study of the management of these endowments over the very long term.
