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Qualification Structure

Our qualifications are aimed at people who want a career within the actuarial profession. Our table below shows our range of qualifications, exams and roles that can be obtained on completion.

Qualification

Awarding body

Exams

Demonstrated work experience

Professionalism

Skill-set

Roles

Certified Actuarial Analyst (CAA)

CAA Global

Modules 0-5

Yes – 1 year

Yes – Online Professional Awareness Test (OPAT)

Financial business, analytical and modelling skills

Analyst, data scientist, data analyst etc.

 

A pathway from CAA Global  to the IFoA Associate qualification is being developed

Associate

IFoA in line with International Actuarial Associations (IAA)

Actuarial Statistics - CS1 

Risk Modelling and Survival Analysis - CS2 

Actuarial Mathematics - CM1

Financial Engineering and Loss Reserving - CM2 

Business Finance - CB1

Business Economics - CB2

Business Management - CB3 

Actuarial Practice - CP1

Modelling Practice - CP2 

Communication Practice - CP3 

Yes – 1 year completion of PPD

 

 

Yes – Online Professional Awareness Test (OPAT) and Professional Skills Course (PSC)

Chartered Actuaries are generalist actuaries with a broad knowledge base across the span of practice areas

Actuary

Generalist actuarial roles . Increasingly there will also be opportunities in non-traditional actuarial roles

Once you have qualified, you may choose to continue your studies to specialise

Fellow

IFoA

The examinations required for Associate and additionally:

2 x Specialist Principles modules

1x Specialist Advanced module

Yes – 3 years completion of PPD

 

 

Yes– Online Professional Awareness Test (OPAT), Professional Skills Course (PSC) and Professional Skills for Experienced Members

Specialist actuaries with a broad generalist base and a specialist skill-set in particular practice areas

General actuarial roles, but may also include specialist roles and non-traditional roles. Opportunities to advance to Chief Actuary, Chief Risk Officer, Financial Risk Officer, Financial Risk Controller,

Once you have qualified as an Associate or are pursuing Fellowship you can gain this specialist qualification by taking SP9 and the CERA seminar

Chartered Enterprise Risk Actuary (CERA)

CERA Global

Have completed SP9 and attended a CERA seminar

N/A

N/A

Strong ERM knowledge that drives better business decisions

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.