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Exemptions for students of the Institute of Actuaries of India

We can grant exemptions from some of our exams if you have passed Institute of Actuaries of India exams.

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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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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    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; 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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  • The IFoA Conference 2022

    133 Houndsditch, London EC3A 7BX and Online
    22 June 2022 - 23 June 2022
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    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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