The Modules are available in each of the six specialist applications subject and we strongly recommend that every UK based student taking a specialist applications paper takes the relevant UK Practice Module at the same time. You can find the Syllabus for the modules at the end of this page.
|P1 - Health and Care||P3 - General Insurance||P7 - Investment and Finance|
|P2 - Life Insurance||P4 - Pensions|
You need to pass one of these exams to practise in the UK in a reserved role, such as an actuarial function holder, with-profit actuary, reviewing actuary, scheme actuary or Lloyd's Syndicate actuary
To enter for a UK Practice Module exam complete and return the application form. You need to tell us the name of your exam supervisor when you apply for the exam.
You don't need to pass a Practice Module to qualify as a Fellow but we recommend that new qualifiers who have not passed one of these exams while doing their fellowship exams, sit the relevant practice module within 18 months of qualifying.
Each UK Practice Module exam consists of a 90 minute multiple choice exam in two parts, which must be taken under exam conditions overseen by a supervisor who is a Fellow of the Institute and Faculty of Actuaries
The two parts of the exams are:
- A generic section (P0) covering the knowledge and understanding of UK business practice, legislation, and regulation. This section is common to all UK Practice Modules and cannot be taken separately.
- A section specific to the subject specialism. The core reading for the relevant specialist applications exam will be suitable for revising for this section of the UK Practice Module exam.
When you apply for the exam we issue you, by email, with an access code which is valid for 90 days and one exam sitting
If you do not complete your UKPM within this time you will need to re-apply and you will be charged the exam fee.
From 1 July 2019 we will be using the P0 2019 edition of core reading and the new 2019 Practice Module core reading which will be available from the ActED website.
|Syllabus for the UKPM (2019)||Subjects P0-P7. Syllabus for the 2019 exams|
|Syllabus for the UKPM (2020)||Subjects P0-P6. Syllabus for the 2020 exams|
- 9 September 2015
- 10 July 2019
- 21 December 2018
- 24 October 2018
- 6 May 2013
- 4 January 2017
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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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Launch of the IFoA’s 2020 thought leadership campaign The Great Risk Transfer. The campaign will examine the trend of the transfer of risk from institutions to individuals, and how people can be better equipped to manage the financial risks they now face. At this breakfast event the IFoA will launch a call for evidence on this topic.
The (re)insurance industry is faced with a growing risk related to the development of information technology (IT). This growth is creating an increasingly digitally interconnected world with more and more dependence being placed on IT systems to manage processes. Note: Registration is from 17.30 in time for the sessional to begin at 18.00.
The IFoA’s President-elect Tan Suee Chieh will visit Shanghai. We will host CPD and Awards Presenting event on Monday 9 December 2019. The event is part of Mr Tan’s first presidential trip to China.
This event will be of interest to students and recently qualified actuaries.
A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020. The content and discussion at this session is particularly tailored to actuarial students and newly qualified actuaries working in any area and the format is interactive, so you should come along prepared to take part in the discussions with your peers.
The IFoA’s President-elect Tan Suee Chieh will visit Beijing. We will co-host CPD and Awards Presenting event with the Sunshine Insurance Group on Thursday 12 December 2019. The event is part of Mr Tan’s first presidential trip to China.
Presenter Bill Curry
The authors will focus on a large dataset obtained from the UK’s Office for National Statistics (ONS) and related sources. Data are available at the level of Lower Super Output Areas (LSOAs) – small geographical areas with, typically, 1000-2000 residents and include death counts, exposures and a significant number of socio-economic variables including the index of multiple deprivation (IMD).
Patrick Lee is an actuary who has made the transition to working in software architecture and artificial intelligence (AI). He holds Microsoft Professional qualifications in Data Science, Big Data and AI and is currently working towards a DevOps (the automation of software testing and deployment) qualification. He is a member of the IFoA Council and is also President of the Wessex Actuarial Society. He is also a member of the IFoA and the RSS's joint Data Science Focus Group and will talk on the ethical use of AI.
The event will be chaired by Brandon Horwitz, an actuary who is a consultant who has held various investment governance roles and who specialises in investment governance as well as being an iNED.
This presentation covers the detail for how the matching adjustment is calculated. A small simple example spreadsheet is provided and discussed in detail.
For actuaries wanting to get more involved with the matching adjustment, this is the opportunity to get a detailed description of the mechanics involved. This includes cashflows derisking, PRA tests as well as hypothecation.
The presentation is provided by James Sharpe who has worked on a number of matching adjustment calculations with several firms.
As a thank you to all our Institute and Faculty of Actuaries (IFoA) volunteers, you are invited to join us at Staple Inn Hall, for an evening of drinks, canapes and networking, in London.
IFoA President, John Taylor, will be attending and will make a speech
If you support the IFoA as a volunteer (member or non-member), or in any other role, and you are going to be in London on 15 January, please book your place and join us at this reception.
The Operational Risk Working Party aims to assist actuaries and others in the modelling and management of operational risk. One of the key challenges in modelling operational risk is the modelling of dependencies between operational risks, and between operational and non-operational risks such as market, credit and insurance risk. Their paper seeks to assist in this regard, and help develop good practice in setting assumptions and modelling operational risk dependencies.
Presenters: Rebecca Deegan, Head of Policy, IFoA, and Faye Alessandrello, Policy Manager, IFoA
A Trusted Profession
A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.
This sessional meeting will be of direct interest to actuaries and others working in the in the Health and Care, Life or Pensions sectors or indeed actuaries with an interest in morbidity or mortality. Note: Registration is from 17.30 in time for the sessional to begin at 18.00.
A Trusted Profession
Presenter: Mark Pibworth
What next in Economic Policy?
Please join us on 25 March 2020 for our annual Spring Lecture presented by Vicky Pryce in Edinburgh.
Presented By: Rebecca Deegan, Head of Policy, IFoA, and Catherine Burtle, Senior Policy Analyst, IFoA
The sixth annual Asia Conference once again offers a prestigious line-up of home and international speakers discussing the insurance and financial industry’s innovation and change in Asia. This year's conference in Kuala Lumpur will be hosted by Tan Suee Chieh, IFoA’s first Asian President. He will also make his Presidential address at this conference and will expand on the important elements of IFoA’s new strategy.
Additionally, this landmark conference will showcase how the IFoA is reinventing itself to support its members to succeed and thrive in a digital age, within traditional businesses and beyond, as a global organisation.
Not to be missed by international industry players, opinion formers, academic and industry leaders, actuaries and non-actuaries.