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Actuarial Exemptions

This webpage contains information which applies to all Undergraduate students from the Statistics Department and to other departments as specified interested in becoming an Actuary.

The Institute and Faculty of Actuaries (IFoA) made changes to their curriculum, which has changed the way in which Actuarial Exemptions can be achieved. Details can be found at www.actuaries.org.uk/studying/curriculum-2019.

Exemptions from the professional actuarial examinations are not given automatically. The actuarial profession only awards exemptions if a student has achieved a satisfactory overall performance as well as a satisfactory performance in the relevant University courses. Exemptions depend on a student's module choices as detailed below.

 

Please click on the link below which applies to you to find out further information about how the Actuarial Exemptions can be obtained:-

 Students enrolled from September 2020

 Students enrolled from September 2019 and before September 2020

 Students enrolled before September 2019

 

For further information, please read the FAQ section on this webpage. Please read this before emailing the undergraduate support office with any questions you may have.

Although not part of the actuarial exemptions below, for those wanting to pursue an actuarial career, you may wish to optionally explore ethics.

 

Students enrolled from September 2020

Our current syllabus enables exemptions of the IFoA 2019 curriculum subjects as follows:

Exemption Code Exemption Weightings Modules Required

CS1

Actuarial Statistics

Part A - 70% - Exam Components only

Route 1 for IM Students only:-

ST104 Statistical Laboratory 1 OR ST117 Introduction to Statistical Modelling

ST218 Mathematical Statistics OR ST229 Probability for Mathematical Statistics

ST219 Mathematical Statistics OR ST230 Mathematical Statistics

ST221 Linear Statistical Modelling OR ST231 Linear Statistical Modelling with R

ST402 Risk Theory OR ST348 Risk Theory (starting in 24/25)

   

Route 2 for BSc students only:-

ST104 Statistical Laboratory 1 OR ST117 Introduction to Statistical Modelling

ST218 Mathematical Statistics OR ST229 Probability for Mathematical Statistics

ST219 Mathematical Statistics OR ST230 Mathematical Statistics

ST221 Linear Statistical Modelling OR ST231 Linear Statistical Modelling with R

ST301 Bayesian Statistics and Decision Theory OR ST413 Bayesian Statistics and Decision Theory with Advanced Topics

ST346 Generalized Linear Models for Regression and Classification.

  Part B - 30% - Assignments Components only

Both Routes:-

Any Class tests/Assignments/Coursework from modules listed in Part A, excluding ST218/ST229 and ST219/ST230.

CS2

Risk Modelling and Survival Analysis

Part A - 70% - Exam Components only

ST338 Actuarial Models

ST340 Programming for Data Science

ST402 Risk Theory OR ST348 Risk Theory (starting in 24/25)

  Part B - 30% - Assignments Components only

ST104 Statistical Laboratory 1 OR ST117 Introduction to Statistical Modelling

ST221 Linear Statistical Modelling OR ST231 Linear Statistical Modelling with R

AND any other Class tests/Assignments/Coursework from modules listed in Part A.

CM1

Actuarial Mathematic

Part A - 70% - Exam Components only

ST334 Actuarial Methods OR ST347 Actuarial Methods and Life Contingencies

ST338 Actuarial Models

ST345 Life Contingencies OR ST347 Actuarial Methods and Life Contingencies

  Part B - 30% - Assignments Components only

ST104 Statistical Laboratory 1 OR ST117 Introduction to Statistical Modelling

ST221 Linear Statistical Modelling OR ST231 Linear Statistical Modelling with R

AND any other Class tests/Assignments/Coursework from modules listed in Part A.

CM2 Part A - 70% - Exam Components only

ST339 Introduction to Mathematical Finance

ST401 Stochastic Methods in Finance

ST402 Risk Theory OR ST348 Risk Theory

  Part B - 30% - Assignments Components only

ST104 Statistical laboratory 1 OR ST117 Introduction to Statistical Modelling

ST221 Linear Statistical Modelling OR ST231 Linear Statistical Modelling with R

AND any other Class tests/Assignments/Coursework from modules listed in Part A.

CB1 100% ST235 Finance and Financial Reporting OR ST335 Finance and Financial Reporting
CB2 100% EC106 Introduction to Quantitative Economics

 

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Students enrolled from September 2019 and before September 2020

Due to the Covid-19 disruption, a solution is being discussed with IFoA for subject exemptions for students enrolled from September 2019. Hence, the lists below may change slightly in the near future.

Our current syllabus enables exemptions of the IFoA 2019 curriculum subjects as follows:

Exemption Code Exemption Weightings Modules Required

CS1

Actuarial Statistics

Part A - 70% - Exam Components only

Route 1 for IM Students only:-

ST104 Statistical Laboratory 1

ST115 Introduction to Probability

ST218 Mathematical Statistics Part A

ST219 Mathematical Statistics Part B

ST301 Bayesian Statistics and Decision Theory OR ST413 Bayesian Statistics and Decision Theory with Advanced Topics

ST402 Risk Theory

   

Route 2 for BSc students only:-

ST104 Statistical Laboratory 1

ST115 Introduction to Probability

ST218 Mathematical Statistics Part A

ST219 Mathematical Statistics Part B

ST221 Linear Statistical Modelling

ST301 Bayesian Statistics and Decision Theory OR ST413 Bayesian Statistics and Decision Theory with Advanced Topics

ST332 Medical Statistics OR ST409 Medical Statistic with Advanced Topics

  Part B - 30% - Assignments Components only

Both Routes:-

ST104 Statistical Laboratory 1

ST221 Linear Statistical Modelling (Coursework)

AND any other Class tests/Assignments/Coursework from modules listed in Part A, excluding ST218 and ST219.

CS2

Risk Modelling and Survival Analysis

Part A - 70% - Exam Components only

ST219 Mathematical Statistics Part B

ST333 Applied Stochastic Processes OR ST406 Applied Stochastic Processes with Advanced Topics

ST338 Actuarial Models

ST340 Programming for Data Science

ST402 Risk Theory

  Part B - 30% - Assignments Components only

ST104 Statistical Laboratory 1

ST221 Linear Statistical Modelling

AND any other Class tests/Assignments/Coursework from modules listed in Part A

CM1

Actuarial Mathematic

Part A - 70% - Exam Components only

ST334 Actuarial Methods

ST338 Actuarial Models

ST345 Life Contingencies

  Part B - 30% - Assignments Components only

ST104 Statistical Laboratory 1

ST221 Linear Statistical Modelling

AND any other Class tests/Assignments/Coursework from modules listed in Part A.

CM2 Part A - 70% - Exam Components only

ST339 Introduction to Mathematical Finance

ST401 Stochastic Methods in Finance

ST402 Risk Theory

  Part B - 30% - Assignments Components only

ST104 Statistical Laboratory 1

ST221 Linear Statistical Modelling

AND any other Class tests/Assignments/Coursework from modules listed in Part A.

CB1 100% ST235 Finance and Financial Reporting OR ST335 Finance and Financial Reporting
CB2 100% EC106 Introduction to Quantitative Economics

 

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Students enrolled before September 2019

Due to the Covid-19 pandemic, students who took EC220 and/or EC221 modules, please note that exemption from CT7 will not take account of these components.

 

CT1 Financial Mathematics through ST334 Actuarial Methods

CT2 Finance and Financial Reporting through ST335 Finance and Financial Reporting

CT3 Probability and Mathematical Statistics through ST218 and ST219 Mathematical Statistics (A & B) for students in the Department of Statistics. (Students from other Departments may gain exemption from CT3 through satisfactory performance in all of the following modules: ST111 Probability A, ST112 Probability B, and ST220 Introduction to Mathematical Statistics.)

CT4 Models through ST338 Actuarial Models

CT5 Contingencies through ST345 Life Contingencies

CT6 Statistical Methods through ST402 Risk Theory

CT7 Economics through EC106 Introduction to Quantitative Economics and EC220/EC221 Mathematical Economics (A and B) OR CT7 Economics through EC106 Introduction to Quantitative Economics and EC204 Economics 2

CT8 Financial Economics through ST339 Introduction to Mathematical Finance
and ST401 Stochastic Methods in Finance

Please note the following:-

1. Recommendations for exemptions from CT1, CT2, CT4, CT5, CT6, and CT8 will be made following the third and fourth year examinations.

2. CT3 and CT7 have to be applied for independently. Further information about the actuarial examination system can be found at www.actuaries.org.uk. In particular information on applying for exemptions can be found at https://www.actuaries.org.uk/studying/exam-exemptions/how-apply-exemption

3. Students enrolled before September 2019 will be able to study for exemptions as described above and their CT exemptions will be converted into exemptions for subjects in the new curriculum as described in the 2019 Curriculum structure. Availability of modules is subject to module restrictions and course regulations - see course handbooks for further details. Our current syllabus enables exemptions as follows:

 CS1 Actuarial Statistics through CT3 (requires independent application )

 CS2 Risk Modelling and Survival Analysis through CT4 and CT6

 CM1 Actuarial Mathematics through CT1 and CT5

 CM2 Financial Engineering and Loss Reserving through CT8

 CB1 Business Finance through CT2

 CB2 Business Economics through CT7 (requires independent application )

 

† Please note information on applying for exemptions can be found at https://www.actuaries.org.uk/studying/exam-exemptions/how-apply-exemption

 

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Frequently Asked Questions

Please read these FAQs carefully, if you have any further questions, which are not answered below, please contact stats.ug.support@warwick.ac.uk and put Actuarial Exemptions in the email subject title. Additionally, please include your student number and course when explaining your query.

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