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CT1 Financial Mathematics

The aim of the Financial Mathematics subject is to provide a grounding in financial mathematics and its simple applications

CT1 is one of the nine Core Technical (CT) subjects. Students need to pass or obtain exemptions from all of the CT subjects. Visit Exam exemptions for more information about how to apply for exemptions from the professional exams.

There are two opportunities each year to sit this exam: in April, and in September/October

For the April exam sitting, bookings will open in January/February each year; for the September/October exam sitting, bookings will open in July. Exam bookings are open for a limited period for each exam, and you must make your application by the appropriate closing date. You will need to pay the exam fee when you apply for the exam.

The CT1 exam is also available to non-members in the UK and overseas

As a non-member you don't need to meet the profession’s entry requirements in order to sit CT1, but you will need strong numeracy skills. The exam may be of interest to:

  • university students interested in becoming actuaries or enhancing their career prospects in finance and financial services
  • staff in financial services who are interested in becoming actuaries
  • people who work with actuaries and want to develop their numeracy skills
  • employers who want to see if their staff have the potential to become actuaries.

If you are a non-member sitting the CT1 exam for the first time:

  • complete an Online registration form (only available during the exam entry period)
  • you will then receive an email with your Actuarial Reference Number (ARN) and details of how to activate your online account, and then log in to the website to register for your exam

If you already have an ARN:

  • pay by card by logging in to the website to register for the exam
  • pay by cheque or bank transfer by completing a payment form and returning this to Education Services with your payment.

The Actuarial Education Company (ActEd), provides study material and tuition for this subject, as do a number of courses listed on our University courses with exemptions page

The exams will be based on the syllabus as supported by the core reading. The ActEd course material will be the main source of tuition as it expands on the core reading. However, if you need clarification on some points, or want to read further, then you may find it useful to consult the texts suggested on the Resources page to get a different viewpoint.

The recommended study time for this exam is between 125 and 150 hours depending on your past educational background in the subject.

To gain exemptions through a university course, it is necessary to successfully complete the full degree or diploma and to gain sufficiently high marks to qualify for subject exemptions

Check our list of University courses with exemptions.

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Contact Details

Education Services Team

Institute and Faculty of Actuaries, 1st Floor, Park Central, 40/41 Park End Street, Oxford, OX1 1JD

+44 01865 268207

We aim to respond to all enquiries within two working days.