The Foundation Program is the first stage in the actuarial qualification pathway. It consists of three main modules; Actuarial Statistics (CS), Actuarial Mathematics (CM) and Business (CB).
The new Foundation Program follows the Institute and Faculty of Actuaries (IFoA) Curriculum 2019 and can be undertaken at an accredited university or directly with the Actuaries Institute. The program includes six subjects, with some new elements, particularly around data analytics.
It commenced in 2019 for students studying directly with the Actuaries Institute and across 2019/2020 for those undertaking studies at the accredited universities.
TRANSITION TO FOUNDATION PROGRAM
Part I exemptions that students already have will be transferred over to the Foundation Program, based on the mapping shown below.
Ways to Study the Foundation Program
Some accredited universities will revise their curricula in 2019, to align with the new Foundation subjects. Others will introduce these changes in 2020.
The revised curricula will only apply to new students commencing their university degrees from when the changes are implemented (i.e. in either 2019 or 2020 depending on the university).
View University Courses here
DIRECTLY WITH THE ACTUARIES INSTITUTE
Students are able to sit Foundation Program examinations which are held in April and September of each year. These are the Institute and Faculty of Actuaries examinations.
Students wishing to enrol in Foundation Program examinations must first become a student member and enrol online through the Actuaries Institute.
Students must not apply directly to the Institute and Faculty of Actuaries for examination entry. Applications made directly to the Institute and Faculty of Actuaries will not be accepted.
Click here to find out more information about the Institute and Faculty of Actuaries Examinations.