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Exemption Announcement

Note on Mutual Exemption for CA2 and CA3

Institute of Actuaries of India (IAI) shall grant exemptions to students who fulfil the eligibility criteria as mentioned below for old curriculum subjects i.e. Core Technical, Core Applications and Specialist Technical subjects and also for new curriculum subjects i.e. Core Principles, Core Practices and Specialist Principles Subjects.

Eligibility Criteria

❖ Institute and Faculty of Actuaries
❖ Casualty Actuarial Society
❖ Indian Statistical Institute, Kolkata
❖ University Courses and IFoA Exemptions
❖ Other Professional Qualifications

Institute and Faculty of Actuaries

IAI shall grant exemptions if the students have passed Institute and Faculty of Actuaries exams from 1st January 2019 until 31st December 2021.

IAI shall grant exemption to students who have passed Core Technical Subjects (CT), Core Principles subjects (CS1, CS2, CM1, CM2, CB1, CB2 and CB3), Core Applications Subjects (CA), Core Practices (CP), and Specialist Technical (ST) and Specialist Principles (SP) Subjects from Institute and Faculty of Actuaries. Students will be awarded exemption from the corresponding IAI Exam

Casualty Actuarial Society

IAI shall grant exemption to students who have passed Casualty Actuarial Society (CAS) exams corresponding to IAI exams as given below:

CAS Exam Corresponding IAI Exam
Exam 2CT1
VEE Corporate Finance CT2
Exam 1 and VEE - Applied Statistical MethodsCT3
Exam 3, 4CT4
VEE - Economics CT7
Exam 3F - Financial Economics CT8
Exam 5 & 6 ST7 and ST8

Indian Statistical Institute, Kolkata

IAI shall grant exemptions to students for Core Technical Subjects (CT3-CT8) depending on the modules taken and the grades obtained while completion of these actuarial degree programmes (Year 2005 onwards).

ISI Exam Corresponding IAI Exam
Probability Theory I and II (Probability 101A-B)*,
Statistical Methods I, II and III (Stat 101A-C)*,
Statistical Inference I & II (Stat 105A-B)* or M. Stat Selection Test
CT3
Actuarial Models ** CT4
Life Contingencies **CT5
Actuarial Methods **CT6
Economics I and II (Econ 101 A-B)* OR Macroeconomic Theory *** CT7
Theory of Finance I *** CT8
*        B.Stat (Hons.)
**      M.Stat
***    M.Stat and M.S. (Q.E)
Note: - The exemption application will be approved depending upon the recommendations received from ISI and external examiner.

University Courses and IFoA Exemptions

IAI shall grant exemption to students who have passed Core Technical Subjects (CT), Core Principles subjects (CS1, CS2, CM1, CM2, CB1, CB2 and CB3), Core Applications Subjects (CA), Core Practices (CP), and Specialist Technical (ST) and Specialist Principles (SP) Subjects against respective qualification from UK based universities to which Institute and Faculty of Actuaries grants exemption. These UK based universities are listed as below:

University

University of Bristol University of Warwick
University of Cambridge University of Birmingham
Heriot-Watt University Cass Business School
Imperial College London University of East Anglia
Lancaster University Imperial College Business School
University of Leicester University of Kent
London School of Economics University of Leeds
University of Manchester Newcastle University
University of Nottingham University of Oxford
Queens University Belfast Queen Mary, University of London
Said Business School, Oxford University of Southampton
University of Stirling Swansea University