The Modules are available in each of the six specialist applications subject and we strongly recommend that every UK based student taking a specialist applications paper takes the relevant UK Practice Module at the same time. You can find the Syllabus for the modules at the end of this page.
|P1 - Health and Care||P3 - General Insurance||P5 - Finance|
|P2 - Life Insurance||P4 - Pensions||P6 - Investment|
You need to pass one of these exams to practise in the UK in a reserved role, such as an actuarial function holder, with-profit actuary, reviewing actuary, scheme actuary or Lloyd's Syndicate actuary
To enter for a UK Practice Module exam complete and return the application form. You need to tell us the name of your exam supervisor when you apply for the exam.
You don't need to pass a Practice Module to qualify as a Fellow but we recommend that new qualifiers who have not passed one of these exams while doing their fellowship exams, sit the relevant practice module within 18 months of qualifying.
Each UK Practice Module exam consists of a 90 minute multiple choice exam in two parts, which must be taken under exam conditions overseen by a supervisor who is a Fellow of the Institute and Faculty of Actuaries
The two parts of the exams are:
- A generic section (P0) covering the knowledge and understanding of UK business practice, legislation, and regulation. This section is common to all UK Practice Modules and cannot be taken separately.
- A section specific to the subject specialism. The core reading for the relevant specialist applications exam will be suitable for revising for this section of the UK Practice Module exam.
When you apply for the exam we issue you, by email, with an access code which is valid for 90 days and one exam sitting
If you do not complete your UKPM within this time you will need to re-apply and you will be charged the exam fee.
From January 2019 until the 30 June 2019, we will be using the P0 2019 edition of core reading, but the SA 2018 core reading. This is to allow those who sat their SAs in April and September 2018, to use the core reading they studied for those examinations. It will also allow those who sat SA5 and SA6 to complete the respective P5 and P6. You can purchase P0 2019 from the IFoA E-Shop.
From 1 July 2019 we will be using the P0 2019 edition of core reading and the new 2019 Practice Module core reading which will be available from the ActED website.
- 9 September 2015
- 1 March 2017
- 21 December 2018
- 24 October 2018
- 6 May 2013
- 4 January 2017
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The IFoA’s Risk Management and Finance and Investment Boards are delighted to host a series of webinars covering a range of topical and trending topics ranging from climate related risks to Brexit.
Notice is hereby given that the ANNUAL GENERAL MEETING of the INSTITUTE AND FACULTY OF ACTUARIES will be held at The Hub, Edinburgh on Wednesday 26 June 2019 at 16.30 (Preceded by tea from 16.00) and followed by a PRESIDENTIAL ADDRESS given by John Taylor.
The Institute for Financial and Actuarial Mathematics (IFAM) at the University of Liverpool is pleased to host the 2019 Actuarial Teachers’ and Researchers’ Conference from 27-28 June 2019. This annual two-day event has been running annually now for many years, each time hosted by a different university, and provides all those interested in actuarial research and education a great opportunity to share their ideas and catch up on the latest developments.
The Institute and Faculty of Actuaries (IFoA) and Actuarial Society of Malaysia (ASM) are organising a joint Professional Skills Training (PST) in Kuala Lumpur. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.
Presented by Louise Pryor
Air pollution has gained increasing attention lately. Nicola Oliver, head of longevity and mortality research for Medical Intelligence, will discuss not only the impacts of air pollution on health and life expectancy but also how as an industry we should be addressing it.
The actuarial profession has much to offer the world of banking. In this webinar actuaries with experience in various fields of banking will talk about the opportunities there are in banking; describing the actuarial aspects of the work they do as well as other roles within their area of banking.
Towards the end of June, the International Accounting Standards Board (IASB) is expected to publish an Exposure Draft (ED) of limited changes to its insurance contracts standard IFRS 17, effective date 2022. To help IFoA members, the IFoA’s cross-practice Financial Reporting Group (FRG) is hosting an event at Staple Inn covering these developments.
For more information on the FRG please visit this webpage.
Presenter: Rahul Verma
Presenter Matt Modisett
This KSS talk, presented by the FCA Head of Department in Scotland, will focus on the following 3 main areas:
- FCA business plan priorities
- The future of regulation
- FCA Engagement in Scotland
For life insurers in the UK, the risk margin is one of the most controversial aspects of the Solvency II regime. Following its implementation, the risk margin came under considerable criticism for being too large and too sensitive to interest rate movements. These criticisms are particularly valid for annuity business – such business is of great significance to the national system for retirement provision. This criticism has led to political interest, and the risk margin was a major element of the Treasury Committee inquiry into Solvency II.
GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year.
Presenter Jon Spain
The Life Conference is the premier event for professionals interested in life insurance. Offering a wide range of workshops and plenary sessions it’s the perfect opportunity to discover what’s hot and current in life insurance ensuring you get up to date on the latest thinking and innovation whilst meeting and exchanging ideas with a broad range of professionals.
The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker. Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.