Read time – 4 mins
Guide to applying for exemptions from IAI and IFoA:
- Both the institutes, IAI and IFoA offer the students opportunities to apply for exemptions from Actuarial papers.
- Looking at IAI first, following can be looked at:
- On the home page of IAI, go to the “Home” tab → “Examinations” → “Exemptions”. The relevant page will open in which numerous routes and ways are given through which a student can apply for any exemption.
- IAI grants exemptions to only those candidates who have passed an Institute and Faculty of Actuaries exam in the period from 01/01/2019 to 31/12/21.
- IAI does not grant exemptions to CA2 papers passed from IFoA from September 2018 to December 2018 exam sessions and to CP3 subject passed from September 2017 to December 2018 exam sessions.
- The exemption fees for every paper is mentioned individually on the page. Like all other fees, this is also non-refundable.
- After 2-3 months of applying, the exemption is granted after due diligence.
- Now, looking at IFoA, following can be looked at:
- Primarily 5 routes have been specified through which a student can apply for an exemption. For students applying from IAI, you need to click “Actuarial Association Qualification (Route B)”.
- If you are applying for IFoA exemption on the basis of a qualification you achieved before 2016, you need to contact firstname.lastname@example.org to request an application form.
- IFoA does not accept exam exemption applications for examinations passed from and post IAI December 2018 exam session.
- A certified copy of official proof of the qualification which you sat and passed with another Actuarial association body. Here, the document need not be attested, unlike IAI. However, later the Institute can ask you for an attested copy as well.
- All the necessary relevant information regarding the exemption process is available on the institutes’ home pages.
For further information, you can refer https://youtu.be/J3YaF2ClOpY