Changes to Examination Exemption by IFOA
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Rishabh Surana
part of the regular review of our exemption agreements with other actuarial organisations the IFoA has decided that from 31 July 2019 at 17.00 UK time we will no longer award exemptions on the basis of individual examinations from those associations. How does this impact you?
We recognise that many of you as student members of the IFoA may be eligible for exemptions from our examinations based on individual subject passes gained from other actuarial associations. Under the existing agreements student members of the IFoA will continue to be eligible for individual exemptions for subjects sat and passed before 31 December 2018. Student members will then have until 31 December 2022 to claim these exemptions.
Transition arrangements
We are currently reviewing the curricula of these actuarial associations to ensure that they map to the IFoA curriculum. Once this is completed and agreed we will update the webpages. While this process is being undertaken we will not accept individual subject exemptions from examinations passed after 1 January this year.
Where this process results in a positive mapping of subject matter and examination level, exemptions will reopen based on a new agreement. This agreement will be backdated to 1 January this year so that no existing IFoA students suffer any detriment. This agreement will remain in place until 31 December 2021. Student members will then have until 31 December 2022 to apply for these exemptions.
You can find all the details you need about this important change (including a list of the affected associations) along with a dedicated email support contact point on our website.
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