Who is eligible for exemptions?
Members who joined the IFoA before 17:00 (BST) on 31 July 2019 and hold the exam passes for subjects sat with the Institute of Actuaries India (IAI) until 31 December 2021 may be 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 31 July 2019 are not eligible for exemptions based on the exam passes from the Institute of Actuaries in India. If you joined the IFoA after 31 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 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). Exemptions are not given for these exams individually. You must have sat and passed both exams with the IAI, not through IAI awarded SP exemptions, for example, passed on IFoA or other Association SP's exams. |
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) Exemptions are not given for these exams individually. You must have passed both exams. |
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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CILA 2022
23 May 2022 - 24 May 2022We 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; transitioning to Net Zero; increased inflationary pressures and supply chain issues; to self-imposed changes in regulatory requirements. CILA 2022 focuses on these challenges to ensure we continue to be informed and remain battle ready, as well as showcasing highlights of recent CMI outputs.
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Opportunity to participate in a virtual Roundtable Discussion hosted by the IFoA in conjunction with the City of London Corporation’s Socio-economic Diversity Taskforce
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Annual General Meeting 2022
15 June 2022In the spirit of fostering the IFoA’s vibrant, global community and enabling our members to participate, we have decided to hold our AGM virtually again this year. This allows for greater accessibility to this important annual event, and for greater accountability of our organisation.
The Business of the AGM
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IFoA Presidential Address 2022
16 June 2022Join newly inaugurated IFoA President, Matt Saker, for his Presidential Address.
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The IFoA Conference 2022
133 Houndsditch, London EC3A 7BX and Online22 June 2022 - 23 June 2022
We’re delighted to welcome you back to our first in-person conference since early 2020, also being delivered virtually in our first-ever hybrid event. The theme of our inaugural two-day conference is ‘Focusing on tomorrow’s actuary’ and will explore the contribution actuarial science is making to some of tomorrow’s biggest issues.
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This webinar will cover:
• Some background on the risks of misselling in an ESG context, including the DWS case
• Achieving positive impact is a strong antidote to the risks of greenwashing or ESG misselling, however this risks having a tension with fiduciary responsibilities
• This tension can be resolved with a concept called Universal Ownership
• Under Universal ownership, investors have an appetite to make a loss in order to achieve positive impact, and yet still have no compromise on their fiduciary responsibilities
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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.
