Exemptions

Seven Australian universities offer accredited education programs that cover the Actuary Program subjects.

  • Actuarial Control Cycle.
  • Data Science Principles.

You may be granted exemptions from these subjects if your university grades meet Actuaries Institute standards.

You do not need to complete your degree to apply for any exemptions. To have your exemption(s) recognised, you will need to authorise the university to advise the Actuaries Institute. Once received,  we will advise you of your exemption eligibility and, when you pay the relevant fee, that's when the exemptions are awarded. If you commenced before 2019 and want information on exemptions based on Part II subjects under the previous syllabus please see Transition Arrangements.

EXEMPTION FEES

Students who pass subjects through the accredited universities are required to pay an exemption fee. Students will first need to become members of the Actuaries Institute for us to process these exemptions. Exemption fees are $300.00 per subject.

Existing Student Members of the Actuaries Institute who do not yet have any recommendations for exemption(s), and subsequently receive recommendations for exemptions, will be required to pay their exemption(s) at the time of lodging them with the Actuaries Institute. If Student Members do not make payment at this time, the exemptions will be classed as invalid. Students will be required to pay for these exemptions in the next membership subscription period.

MUTUAL RECOGNITION AGREEMENTS

The Actuaries Institute currently holds mutual recognition agreements with the following actuarial associations:

  • Actuarial Society of South Africa (ASSA).
  • Canadian Institute of Actuaries (CIA).

If you are an Associate of these associations you may be accepted as an Associate Member of the Actuaries Institute if: you qualified as an Associate by examination and you are a current financial Associate of one of the above-mentioned bodies.