To become an Actuary and be awarded the Associate (AIAA) designation you must complete the Foundation and Actuary Programs and you will require one year of relevant work experience.
The Actuaries Institute currently holds mutual recognition agreements with the following actuarial associations:
- Actuarial Society of South Africa (ASSA)
- Canadian Institute of Actuaries (CIA)
Associates of the above associations may be accepted as Associate members of the Actuaries Institute subject to satisfying the following conditions:
- the applicant must have qualified as an Associate by examination; and
- be a current financial Associate, of one of the above-mentioned bodies.
Post nominals
The right to use the post-nominals ‘FIAA’ and ‘AIAA’ is only granted to current Fellows and Associates of the Institute under clause 6.9 of the Institute’s constitution. This right does not extend to individuals who are not current Members, who are of another class of Member or who have ceased to be a Fellow or Associate of the Institute.
The Institute considers unauthorised use of these post-nominals to be inconsistent with the Institute’s standards of professional conduct. Any unauthorised use in trade or commerce may be in breach of section 29 of the Australian Consumer Law, the crimes legislation in certain States and Territories and also applicable competition law.