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Changes to the Actuarial Study Scheme – Part 1

As you are likely aware, the exam curriculum for admission to the Institute and Faculty of Actuaries has been updated to reflect the changing role of the actuarial profession in the modern workplace, and to reflect similar changes made by the International Actuarial Association (IAA). These changes to the actuarial study scheme began to be slowly rolled out in September 2017, and are now in full effect, meaning much of what you know about the path to becoming a fully qualified actuary could soon be out of date. As such, over the next month we will be posting articles on the Raretec website to help you fully understand the changes to the exam curriculum for the actuarial qualification. In this article, we briefly outline the changes to the exam system. At the moment the Actuarial Profession has the following qualifications:

  • Fellowship (FIA/ FFA)
  • Chartered Enterprise Risk Analyst (CERA)
  • Associate Actuary (AIA or AFA)
  • Certified Actuarial Analyst (CAA)

The vast majority of individuals entering this profession wish to attain the full Actuarial Fellowship.  Whilst the qualification process has changed the principles are still the same. Individuals wishing to attain the Fellowship must still complete a combination of exams, personal and professional development as well as completing three years professional actuarial experience. In summary the current exam system is changing categories as follows:

Continue to Part 2

If you would like a copy of these articles in booklet form, please contact susan.bradley@raretec.ie