Overview
The Institute and Faculty of Actuaries (IFoA) is the UK professional body for actuaries. Its exams lead to the Associate (AIA or AFA) and Fellow (FIA or FFA) qualifications. Fellowship is the highest level the IFoA offers.
The exams are grouped into stages: Core Principles, Core Practices, Specialist Principles and Specialist Advanced. You can pass each subject by sitting the exam or, where you qualify, by exemption for prior learning.
Who can apply
You need to be an IFoA member to sit most exams; non-members may attempt CS1 and CM1. Personal and Professional Development (PPD) is part of both the Associate and Fellow requirements. Exemptions are available if your earlier studies are equivalent to an IFoA subject.
Levels or stages
Core Principles
This stage has three groups of subjects: Business (CB1, CB2, CB3), Actuarial Statistics (CS1, CS2) and Actuarial Mathematics (CM1, CM2).
Core Practices
This stage has three subjects: CP1 (Actuarial Practice), CP2 (Modelling Practice) and CP3 (Communications Practice). The IFoA recommends about 60 hours of study for CP3 and about 400 hours for CP1.
Associate qualification
You become an Associate by completing the Core Principles and Core Practices subjects, by exam or exemption, together with PPD and the Professional Skills Course.
Specialist Principles
The subjects include SP1, SP2 and SP4 to SP9, plus SP10, which is an ASSA subject. The IFoA recommends about 200 hours of study for each of SP1, SP2 and SP4 to SP9.
Specialist Advanced
The subjects are SA0 (the dissertation subject), SA1 (Health and Care), SA2 (Life Insurance), SA3, SA4, SA7 and SA10, which is an ASSA subject. The IFoA recommends about 300 hours of study for SA1, SA2, SA3, SA4 and SA7.
Fellow qualification
To become a Fellow, you complete the Core Principles and Core Practices subjects, two Specialist Principles subjects and one Specialist Advanced subject (by exam or dissertation). You also complete PPD. If you have not already taken the Professional Skills Course, you must do so within 12 months of becoming a Fellow.
Exam pattern
Exams are held in two sessions a year, April and September, and all start at 09:00 UK time. The CS and CM subjects have online elements. CB3, CP2 and CP3 are online exams. CB3 is booked separately, with dates in 10 months of the year excluding April and September. Check the IFoA subject pages for the format and length of each subject.
Important dates
September 2026: exams run from 14 to 25 September 2026. Exam entry opened on 13 July 2026 and closed on 24 July 2026 at 12:00 UK time. Results are released on 8 December 2026 for CS, CM and CB subjects and on 10 December 2026 for CP, SP and SA subjects.
April 2027: exams run from 12 to 21 April 2027. Entry opens on 25 January 2027 and closes on 5 February 2027 at 12:00 UK time. Results are released on 6 July 2027 for CS, CM and CB subjects and on 8 July 2027 for CP, SP and SA subjects.
September 2027: exams run from 13 to 22 September 2027. Entry opens on 12 July 2027 and closes on 23 July 2027 at 12:00 UK time. Results are released on 7 December 2027 for CS, CM and CB subjects and on 9 December 2027 for CP, SP and SA subjects.
Fees
For exams sat after 1 July 2026, the April and September session fees are below. The reduced rate is open to members who pay the reduced membership subscription. CB3, CP2 and CP3 have separate online exam fees not shown here.
| Subject | Full rate | Reduced rate |
|---|---|---|
| CS and CM subjects (each) | £375 | £244 |
| CB1 and CB2 | £302 | £197 |
| CP1 | £786 | £511 |
| SP subjects (each) | £423 | £275 |
| SA subjects (each) | £423 | £275 |
Non-members who want to sit CS1 or CM1 pay £423 (full) or £275 (reduced). The SA0 dissertation subject costs £1,618 in total, paid in two stages. The PPD final sign-off fee is £86 for Associateship and £133 for Fellowship.
How to apply
Join the IFoA and keep your PPD record up to date.
Apply for exemptions if your prior learning is equivalent to any subject.
Enter your exams online during the entry window for the session you want.
Pay the exam fee for each subject.
After the exam
Results are released in the windows above. When you have passed or been exempted from all the required subjects and completed PPD, you can apply for Associate or Fellow status.
Preparation tips
Plan your subjects around the recommended study hours, since CP1 needs far more time than CP3.
Check the exam entry deadline each session, because it closes at midday UK time.
FAQs
How many times a year are IFoA exams held?
Twice a year, in April and September.
Can I skip an exam?
You can apply for an exemption if your prior learning is equivalent to an IFoA subject. A separate exemption fee applies.
What do I need to become a Fellow?
The Core Principles and Core Practices subjects, two Specialist Principles subjects, one Specialist Advanced subject (or dissertation) and PPD.