Qualification Program FAQs

Qualifying to be an actuary requires you to complete three programs, including practical experience in a relevant work environment. You’ll study the Foundation Program either at an accredited university, or through Institute and Faculty of Actuaries (IFoA) exams (facilitated by us), or with transfer credits from another actuarial professional body.

You’ll study two Actuary Program subjects at an accredited university before you come to study two more Actuary Program subjects with us, remotely, as you work full-time. Upon passing the Actuary Program and completing your practical experience requirement, you’ll be a qualified actuary with the Associate (AIAA) designation. 



The Fellowship Program is the final program of study and allows you to specialise and be globally recognised with the Fellow (FIAA) designation. You'll study this remotely with us as you continue to work, continuing to build your practical experience alongside it. As a Fellow, you can work internationally and hold esteemed positions such as Appointed Actuary as your career develops. 

We accredit eight universities in Australia and New Zealand: Australian National University, Bond University, Curtin University, Macquarie University, Monash University, University of Melbourne, University of New South Wales, and Victoria University of Wellington.

For more information visit the accredited universities page.

On average, it takes 4-6 years to become an actuary (Associate) in Australia with the most direct qualification study path. This includes your time at an accredited university. 

To become a Fellow, it takes around 5-7 years including your time at an accredited university.

Yes. Alongside your studies, you'll need to complete practical experience. See Practical Experience Requirement for details on what is required.

We offer three types of exemptions, recognising prior study that aligns with our Foundation Program:

1. Accredited actuarial course exemptions — for students with subjects from an accredited actuarial degree at an accredited university.
2. Allied study exemptions — for students who completed university studies at a non-accredited university in Australia or New Zealand, with related subjects in maths, business, economics or finance.
3. Credit transfers — for prior actuarial study completed with an Institute-recognised actuarial professional body.

For more information, including eligibility criteria and how to apply, visit our exemptions page.

Yes, specific transition arrangements apply if you started studying before 2019. We allow members to progress and will consider your previous actuarial study. For the last curriculum change in 2019 we created a 
Transition Arrangements document to assist members.

You can also email us at  [email protected]  for assistance.

Our Institute subjects (Actuary Program and Fellowship Program) are delivered online, in 16-week semesters, with a mix of assignments, quizzes, exams and educator-run tutorials.

See more about how we deliver our programs here.

From Semester 1, 2027 we’re changing to in-person, computer-based exam centres for our Actuary and Fellowship Programs. Full details, including a FAQ and centre arrangements, will be shared before Semester 1, 2027 enrolments open.

For Foundation Program, members enrol in the Institute and Faculty of Actuaries exams which are online for our members.

Each Accredited University makes its own exam arrangements.

The Institute and Faculty of Actuaries Foundation exams are online for our members.

The Actuary and Fellowship Program subjects offered by the Institute will have exams completed in-person at exam centres, commencing from Semester 1, 2027. Suitable arrangements will be made for regional and overseas students, using exam centres or remote invigilation services depending on location.

Full details, including a FAQ and centre arrangements, will be shared before Semester 1, 2027 enrolments open.

AIAA (Associate) and FIAA (Fellow) are the Institute's two actuarial designations that qualify you to practise as an actuary. You earn AIAA by completing the Foundation and Actuary Programs plus the Practical Experience Requirement (PER), and FIAA by going on to complete the Fellowship Program and additional PER.

Once you've met the requirements, your qualification is confirmed by the Institute’s CEO. This happens six times a year — on the first Tuesday of February, April, July, August, October, and December — so you won't be waiting long once you're done. See our qualification pathway page for the full requirements.

CERA (Chartered Enterprise Risk Actuary) is an internationally recognised designation for actuaries specialising in Enterprise Risk Management (ERM). You may be eligible for the CERA designation upon completion of our ERM subject — find out more and how to apply on our  Global CERA page .

Enrolment periods for the Actuary Program and Fellowship Program are in December/January and June/July each year. Foundation enrolments tend to be in January/February and July each year. You can check key dates for our enrolment dates. Please note, to enrol in our qualification program, you need to be a member.

You can enrol online is via the Foundation Program, Actuary Program or Fellowship Program pages during our enrolment periods.

Yes, we offer special consideration to students who experience unexpected or difficult circumstances, or are prevented from completing an assessment to the best of their ability due to serious illness, misadventure, or adverse personal circumstances beyond their control. We may grant adjusted assessment terms or a reduction in a resit fee, depending on eligibility and timing.

More information is available on the Student Hub in Canvas, or in our Special Consideration Policy.

Students that require support to access our learning management system, complete assessments or attend exam centres should contact our Education Team to discuss their situation.

Some members located overseas may be eligible for fee relief on their Institute-delivered Actuary and Fellowship subjects — see the eligibility criteria on the Actuary Program and Fellowship Program pages, and check the list of qualifying countries.

Apply via the Fee Relief Application form , which is only available during the enrolment period, before enrolling.

We have eight dedicated industry Fellows who teach our subjects, responsible for the subject syllabus, teaching materials, and assessments. They're supported by over 200 Fellows who oversee quality and governance and assist with assessments. 

There is a range of support available to students by your educator, through the Institute, and your peers. Support is available through tutorials including guest speakers, assessment feedback, discussion boards and study groups.

Contact us if your personal circumstances mean you need to change your study plans, require accessibility support or wish to apply for special consideration in relation to the assessments.

When you’re enrolled in our subjects you get access to the Student Hub  through our learning management system Canvas  – full of resources and information to assist you during your studies. You can also access past papers in Canvas to assist you in preparing for your assessments.  

Results are released twice a year - typically June/July for Semester 1 and December for Semester 2. Visit our program pages for exact dates and check the latest results information.

Please note: members who opted out of the pass list at enrolment will not appear in these lists.