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.
2018 examinations for non-members
With the introduction of our new Curriculum 2019, we have made changes to the exam options available to our non-members. Previously a non-member could only apply for the CT1 exam. However as we approach the new Curriculum 2019 examinations and we only had two exam sittings left of the current curriculum, we have offered our non-members the following options:
- For the April 2018 exams, non-members were able to apply for either CT1 (Financial Mathematics) or CT3 (Probability and Mathematical Statistics). This gave non-members the option to complete the CT1 exam if they had been studying towards this; or to take CT3 which if passed will gain a CS1 in 2019.
- For the September 2018 exams, non-members were only able to apply for CT3. This is because CT1 and CT5 are merging under the new curriculum and passes in both will be required to gain the CM1 exam in 2019.
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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Events calendar
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Sessional Meeting: Covid-19 and the Effectiveness of ERM Frameworks
Online15 August 2022The purpose of this research paper is to explore enterprise risk management lessons which can be learnt from the Covid-19 pandemic in preparation for potential future pandemics as well as other “gray rhino” or “black swan” events. This paper is not intended to be an all-encompassing solution to the issues presented by Covid-19; rather, the content has been provided to help drive discussions regarding how risk management processes may need to evolve in line with the dynamic nature of the underlying risks that they sometimes need to capture.
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Planning your answers in the online examination format
22 August 2022This webinar will discuss good exam technique, including various approaches candidates can take in managing their time completing their exams in the online format.
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This session is for new candidates and existing candidates where we will be discussing the practical steps you need to take leading up your exam and on the day. We will be discussing how to testing the online exam platform, downloading and uploading your paper and key information from the Exam Handbook.
The exam webinar is for candidates, new to IFoA exams and returning candidates, sitting in the September 2022 exam session.
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Balancing the short – and the long – term: the challenges of being a “sustainable” NED
6 September 2022The role of Non-Executive Directors has become increasingly challenging and critical over the past few years.
Big picture thinking, Governance knowledge, Independent mindset, Ambassador potential and Energy and commitment: these are the essential skills sought in a successful NED, according to the Chartered Governance Institute (UK & Ireland).
In parallel, Environmental, Social and Governance (ESG) criteria are increasingly key and used by investors to measure the sustainability and ethical impact of investing in an organisation.
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Is your ESG offering a misselling risk? This innovative concept can resolve that risk
7 September 2022This 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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How do CDC pension schemes smooth members' pensions?
23 September 2022In the UK, the idea of collective defined contribution (CDC) pension schemes is gaining more attention with the launch of the Royal Mail CDC scheme, the first of its kind in the UK. Our recent research on CDC plans investigates the sources of the putative benefits of CDC schemes: the smoothing of pensions for members. Using an attribution analysis to burrow into the scheme design, the reason for the smoothing of members' pensions is explained and understood.
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The IFoA's Infrastructure Working Party, led by Chris Lewin, will present its new introductory guide to infrastructure investment, which will be published on the IFoA web-site prior to the webinar. Those readers whose institutions have already taken the plunge into infrastructure will know that it is a highly complex and diverse field of activity. This guide does not explore all the matters which investors take into account, but it does discuss many of the more important points, including the risks and past returns, benchmarking, and ESG and SDG considerations. Attendees will be invi
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Social Care Agenda
11 October 2022Social care reform has long been on the to-do list for successive governments over the last two decades. In February, the government’s proposed reforms to adult social care [including cap on care costs] was published. Against this backdrop of funding promise and rising National Insurance taxation, in this session we will debate the resilience of these new proposals, the impact of future demand for care services and what role for the insurance industry and the important role it has played in long-term care funding in other countries where public-private partnership works.
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Health – Our Greatest Asset
2 November 2022Health contributes to happiness at the personal, family, community and societal level. Health, importantly underpins all our economic security. This talk will explore the drivers of our health, the measurement of health and the steps we can take to improve health – most of which lie outside the NHS.
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GIRO Conference 2022
ACC Liverpool21 November 2022 - 23 November 2022
We are delighted to announce the return of GIRO as an in-person conference, giving you an opportunity to connect with actuaries in your practice area. Join leading experts to discuss key issues, emerging ideas, and new research across the General Insurance sector.
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Life Conference 2022
ACC Liverpool Kings Dock Liverpool Waterfront Liverpool Merseyside L3 4FP23 November 2022 - 25 November 2022
Life Conference returns as an in-person conference in 2022, giving you an opportunity to connect with your peers and fellow actuaries in your sector, in person. You will also hear leading experts discuss key issues, emerging ideas, and new research across the Life insurance sector.
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Mortality and morbidity risk varies by variables such as age, sex and smoking. In traditional actuarial experience analysis, these variables, and certain combinations thereof can be explored. However, with the wealth of data now available it is becoming increasingly challenging to identify the key drivers of experience and account for the interaction between different variables. A univariate approach often compares apples and pears, for example males are more likely to smoke and have larger policies than females. Likewise, variable interactions are missed unless specifically included.
