Actuarial Exemptions Archived
Purpose. This webpage contains archived Institute and Faculty of Actuaries (IFoA) exception information for students that commenced their studied in the academic year 2020-2021 or earlier.
Information for current students is availableLink opens in a new window.
Students who took temporary withdrawal or resit without residence. For students who have taken a period of temporary withdrawal or were required to resit without residence, you will be governed by the modules and requirements based on the year you recommence your studies and the modules available in that year. You may need to make a bespoke application to the IFoA based on the modules you took and their alignment to individual exemptions. Please contact the statistics support office who will forward your query to the department's IFoA liaison.
- Students enrolled from September 2020 and before September 2021
- Students enrolled from September 2019 and before September 2020
- Students enrolled before September 2019
Ethics. 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 and before September 2021
The course content enables access to a number of IFoA exemptions.
When study start years are specified they assume students have not taken an intercalated year, temporary withdrawal or been required to take resit without residence.
Students entering Year 3 in 2023-24 or taking intercalated year in 2023-24 must read the important information at the start of this page.
| Exemption Code | Exemption Weightings | Modules Required |
|
CS1 Actuarial Statistics |
Part A - 70% - Exam Components only |
Route 1 for IM Students only (only available to those on four year degrees) ST104 Statistical Laboratory 1 ST218 Mathematical Statistics Part A ST219 Mathematical Statistics Part B ST221 Linear Statistical Modelling ST402 Risk Theory |
|
Route 2 for BSc students only:- ST104 Statistical Laboratory 1 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 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, ST219/ST230 and ST301/ST413. |
|
|
CS2 Risk Modelling and Survival Analysis |
Part A - 70% - Exam Components only |
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/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
Arrangements were changed due to the Covid-19 disruption. In particular, students who started their studies in September 2019 were required to take a class test in October 2020 to access material in EC106 required for one of the exemptions.
When study start years are specified they assume students have not taken an intercalated year, temporary withdrawal or been required to take resit without residence.
The course content enables access to a number of IFoA exemptions.
| Exemption Code | Exemption Weightings | Modules Required |
|
CS1 Actuarial Statistics |
Part A - 70% - Exam Components only |
Route 1 for IM Students only (only available to those on four year degrees):- 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 |
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 ST235/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 on the IFoA pages. In particular information on applying for exemptions can be found on the specific IFoA page.
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 the how to apply for exemptions page.
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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.
We aim to do this around the beginning of October, however this date is subject to change.
Students agreed exam marks are shared with the IFoA and scrutinized ahead of an exemption threshold being agreed. After this the subjects cohort marks are calculated, and provisional lists of recommended exemptions are sent to IFOA and the external examiners for approval by all parties. This is a timely process, hence a firm date for communicating exemptions is not possible.
The support office will email your Warwick email account with details of any exemptions you have achieved. Please check your Warwick email account regularly. We cannot send exemptions achieved to personal email addresses.
No. If you have not received an email from stats.ug.support@warwick.ac.uk by the end of October, please assume that you have not been eligible for any exemptions.
This question applies only to student under the old CT subjects curriculum. As stated on this webpage, for independent application for the listed modules please read the information on Exam Exemptions (actuaries.org.uk).
If you are a Statistics student, you only need to send your transcript to the IFoA. We will not provide you with an outline of the course and modules, as this is not needed.
No. You will receive a list of exemptions achieved by email only. This information is already held by the IFoA, so no certificate is needed.
If you have not had an email from us by the end of October but you think that you should be eligible for any exemptions, as you have achieved consistently high marks in the required modules, 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.
The IFOA and the actuarial independent external examiners provide the department with a threshold value for each exemption subject. A cohort overall mark is calculated for each student and subject. To be recommended for exemption from a subject, your cohort mark in the subject needs to be greater or equal to the threshold value of the subject. We have no input into the exemption threshold percentage mark.
Yes, the IFoA are aware of all recommended exemptions. You do not need to inform them.
We cannot disclose the exemption threshold mark with students. This mark is agreed with IFoA each year and is subject to change depending on the overall performance of students in each subject.
You must take all the modules listed within the exemption in order to be eligible for that exemption.
Instruction on how to apply can be found on this link. Please read thoroughly and note that the department will not assist you in applying for exemptions after the lists of recommended exemptions are released to students.
Yes, you can still apply for Actuarial Exemptions if your home department is not Statistics. However, you must apply independently. The Stats department will not be involved in your process to apply for Actuarial Exemptions. For information on how to apply independently for the listed modules, please read the information on Exam Exemptions (actuaries.org.uk).