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UK Practice Modules

The UK Practice Modules (UKPM) are designed to test your knowledge of UK business practice, legislation, regulation and professional guidance notes

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.

Subject
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

The UK Practice Module examinations will be transitioning to a new platform and will be unavailable in December 2020. 

If you have a valid access code please ensure you sit your examination by 17:00GMT  26 November 2020.

If you wish to book a UK Practice Module examination please indicate when returning your application form if you intend to sit prior to 26 November 2020. 

If you are unable to sit your examination prior to 26 November you will automatically be enrolled on the new examination platform. New joining instructions will be provided by email.

In order to sit your UK Practice Module exam during the COVID-2019 restrictions without an invigilator present, you will need to supply self-certification confirming that you will complete the UK Practice Module exam under exam conditions but without an invigilator, as well as providing an employer reference to say you are ‘honourable’ and can be trusted. The employer reference must be from a line manager or higher or from the HR department and should be sent with the UK Practice Module application form to education.services@actuaries.org.uk for processing.

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 examination conditions

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, all examination joining instructions.   

Examinations will be valid for a 90 day period. If you do not complete your UK Practice Module examination 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

Related documents - The documents below will be replaced shortly with updated versions to reflect the changes to the platform

Contact Details

Education Services Team

education.services@actuaries.org.uk

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.

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E.g., 25/11/2020
End date
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Events calendar

  • Spaces available

    The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.

  • Spaces available

    Retail banking is going through a period of substantial change as it moves into the digital age. Banks have large amounts of data about their customers and about their risks. Open data application programming interface (APIs) and data science are enabling banks to use their data to offer innovative and sometimes personalised services. Data science is also adding value in risk areas such as fraud detection and cyber security. At the same time, the move to online banking is making it easier for firms including fintechs to enter banking without having to establish branch networks.

  • UK Town Hall 08:30-09:30

    Webinar
    4 December 2020

    Spaces available

    IFoA President Tan Suee Chieh would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual UK Town Hall 2020, hosted by Tan Suee Chieh with IFoA’s Immediate Past President, John Taylor, President Elect, Louise Pryor and IFoA Chief Executive, Stephen Mann.  

  • UK Town Hall 10:00-11:00

    Webinar
    4 December 2020

    Spaces available

    IFoA President Tan Suee Chieh would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual UK Town Hall 2020, hosted by Tan Suee Chieh with IFoA’s Immediate Past President, John Taylor, President Elect, Louise Pryor and IFoA Chief Executive, Stephen Mann.  

  • Spaces available

    Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.

  • Spaces available

    Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year

  • Spaces available

    The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report. 

  • Spaces available

    Running off the £2 trillion of UK corporate sector defined benefit liabilities in an efficient and effective fashion is the biggest challenge facing the UK pensions industry. Trustees and sponsors overseeing those schemes need to be clear on their target end-state and the associated journey plan – but too few have well articulated and robust plans.

  • Spaces available

    The actuarial skill set has much to offer the banking industry. So many of the skills that actuaries acquire during their working life translate across to the world of banking and yet banking is perceived as an alien environment to many actuaries. But is it?

  • Spaces available

    Covid-19 has required an urgent and cross-practice initiative to facilitate the extensive impact this pandemic has across all industries. IFoA members have been keen to contribute in a different way, so we developed the IFoA Covid-19 Action Taskforce [ICAT] to coordinate our effort, with a more efficient governance.

    We have over 500 volunteers and countless topics which we have amalgamated into 93 workstreams.