The Institute and Faculty of Actuaries (IFoA) offers a number of qualifications to individuals worldwide who wish to pursue an actuarial career

Find the study route that is right for you:

• Associateship/Fellowship is the qualification designed to give you the ability to apply fundamental actuarial concepts and techniques to undefined future events
• Chartered Enterprise Risk Actuary (CERA) is a qualification awarded to actuaries who wish to work in the area of risk management particularly Enterprise Risk Management (ERM)

Fellowship/Associateship

To become an Associate member you need to complete the following:

• Core Principles subjects (CS1-2, CM1-2 and CB1-3) either by examination or exemption

• Core Practices subjects (CP1, CP2 and CP3) either by examination or exemption

• Two years (24 months) of practical work experience recorded via Personal and Professional Development (PPD)

• You have an annual requirement to ensure you work-experience recording is kept up to date

• Stage 1 and 2 Online Professionalism Courses

• Once you achieve our Associate qualification you will have the opportunity to study further to become an IFoA Fellow

If you joined the IFoA after 2 January 2019 you will need to obtain Associateship qualification status before progressing to Fellow. You may sit any examination in any order, but you must qualify as an IFoA Associate first, followed by a minimum of an additional 12 months of PPD recording to obtain Fellow status. If you joined the IFoA before 2 January 2019 you do not to need qualify as an Associate prior to applying for the Fellowship qualification.

To qualify as a Fellow you need to complete the following:

• IFoA Associate qualification

• Two Specialist Principles (SP0, SP1, SP2, SP4, SP5, SP6, SP7, SP8 and SP9) subjects either by examination or exemption

• One Specialist Advanced (SA0, SA1, SA2, SA3, SA4 and SA7) subject by examination or dissertation

• An additional year (12 months) of practical work experience recorded via Personal and Professional Development (PPD) totalling a minimum of (36 months)

• You have an annual requirement to ensure you work-experience recording is kept up to date

• Professionalism Course (if not already undertaken for the Associateship qualification).

Further information on modules, including the syllabus and specimen papers, can be found via Curriculum page.

Chartered Enterprise Risk Actuary (CERA)

Chartered Enterprise Risk Actuary (CERA) – the global risk management credential for the future

The CERA credential provides risk professionals with strong ERM knowledge that drives better business decisions applied in finance and insurance and well beyond. Professional, ethical and trusted, with impeccable standards and integrity, a professional with the CERA credential is able to communicate effectively ideas with leadership and is qualified to play varying roles within an organisation, from risk manager to Chief Risk Officer and more.

Members of the IFoA can obtain the CERA credential if they:

• become an Associate, including having a pass or exemption from CP2 and CP3, or

• become a Fellow.

You will also need to:

• pass, or be exempt from, the SP9  (Enterprise Risk Management) exam, and

• attend a CERA seminar (this is for those passing the SP9 exam after 1 September 2012, or who were granted an exemption after 30 January 2013).  The seminar will enable you to investigate and discuss more practical applications of enterprise risk management.

Before you can attend the CERA seminar you will need to have passed, or been granted an exemption from, the SP9 exam. You do not need to have completed all the other exams yet.

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