Applications from individuals who hold passes from the Institute of Actuaries of India will be considered subject to the guidelines detailed below.
It should be noted that for the IAI December 2018 examinations, the IFoA will not be recognising IAI passes achieved.
The IFoA is currently unable to confirm whether we will be recognising IAI examination passes achieved after January 2019. The changes occurring in both the IFoA and IAI curriculum and examinations from January 2019 means the IFoA has to receive and carry out an audit of the IAI 2019 materials as well as compare the two examination systems before a final decision can be made.
We will keep students informed of progress through our student newsletter and this webpage.
Students will have until 31 December 2023 to claim any exemptions from the IFoA for passes achieved from the IAI examinations as per the guidelines below.
In order to gain an exemption from CM1 students must have
- obtained passes in both CT1 and CT5 from the IAI examinations within the exam sessions detailed below and claimed this from the IFoA by 31 December 2023
- obtained a pass in either CT1 or CT5 with the IFoA and a pass in other subject from the IAI examinations within the exam sessions detailed below and claimed the exemption from the IFoA by 31 December 2023
In order to gain an exemption from CS2 students must have
- obtained passes in both CT4 and CT6 from the IAI examinations within the exam sessions detailed below and claimed this from the IFoA by 31 December 2023
- obtained a pass in either CT4 or CT6 with the IFoA and a pass in other subject from the IAI examinations within the exam sessions detailed below and claimed the exemption from the IFoA by 31 December 2023
|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 will be 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|
|Earlier Institute of Actuaries of India exams|
|Exams passed between November 2000 and 1 May 2005||If you passed the 100 series exams and subject 201 under the previous Institute of Actuaries of India syllabus we can grant exemptions from our corresponding exams under the current syllabus. Please contact the Education Services Team for more information.|
|Exams passed before November 2000||If you passed Institute of Actuaries of India exams before November 2000 please contact the Institute of Actuaries of India in the first place.|
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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General information and practical advice that will be useful in your studies
Education Services Team
Institute and Faculty of Actuaries, 1st Floor, Park Central, 40/41 Park End Street, Oxford, OX1 1JD
We aim to respond to all enquiries within two working days.
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The International Accounting Standards Board (IASB) recently published an Exposure Draft (ED) of limited changes to its insurance contracts standard IFRS 17, effective date 2022.
The IFoA hosts regular roundtable meetings with the PRA on best practice in insurance investment and the application of the Prudent Person Principle, which governs insurance investment under Solvency II.
Presenter: Rahul Verma
Presenter Matt Modisett
An introductory session to help you get ahead with climate change.
- Science, terminology and initiatives: handy facts to keep in your back pocket
- Getting your point across: how to influence people and avoid common traps and pitfalls
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This KSS talk, presented by the FCA Head of Department in Scotland, will focus on the following 3 main areas:
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- The future of regulation
- FCA Engagement in Scotland
For life insurers in the UK, the risk margin is one of the most controversial aspects of the Solvency II regime. Following its implementation, the risk margin came under considerable criticism for being too large and too sensitive to interest rate movements. These criticisms are particularly valid for annuity business – such business is of great significance to the national system for retirement provision. This criticism has led to political interest, and the risk margin was a major element of the Treasury Committee inquiry into Solvency II.
GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year.
Presenter Jon Spain
Three actuaries – and CEOs – discuss their views on how the business world is changing and what that might mean for actuaries in the future.
Have you ever thought about working in wider fields? Would you like to play a role in the fight against climate change to make the planet better?
It can be difficult to do this - but seeing an example you can follow can make it more realistic. In this ‘green’ case study a template is outlined to show how actuaries can apply their skills more broadly - and in doing so, to make a difference.
The Institute and Faculty of Actuaries is running a sessional meeting on autonomous vehicles on 28th October. The session will showcase the work of the IFoA “Autonomous Vehicles” working party alongside a number of expert external presenters.
The Life Conference is the premier event for professionals interested in life insurance. Offering a wide range of workshops and plenary sessions it’s the perfect opportunity to discover what’s hot and current in life insurance ensuring you get up to date on the latest thinking and innovation whilst meeting and exchanging ideas with a broad range of professionals.
The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker. Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.
Watch the live stream of this year's Autumn Lecture with guest speaker Rt Hon Nicky Morgan MP.