Exemptions

Exemptions

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

  • Actuarial Control Cycle
  • Data Analytics Principles
Students may be granted exemptions from these subjects based on university grades that are consistent with Institute standards.

Students are not required to wait until they have completed their degree to apply for any exemptions. Upon authorisation, the student's university advises the Institute of the student's eligibility for  exemptions. The Institute then advises the student of their exemption eligibility. For information on exemptions based on Part II subjects 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 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.

For your exemption fees, please contact the Member Services Team

Mutual Recognition Agreement for Associates

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

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

Associates of the above associations may be accepted as Associate Members of the Institute of Actuaries of Australia subject to satisfying the following conditions:

  • The applicant must have qualified as an Associate by examination, and
  • Be a current financial Associate of one of the above-mentioned bodies.