Fellow of the Institute of Actuaries (FIA)

Category: Actuarial fundamentals · Reviewed by Amy Price, Account Executive · Last reviewed

Fellow of the Institute of Actuaries (FIA)

A Fellow of the Institute of Actuaries (FIA) is the senior IFoA qualification, awarded on completion of all required examinations, work-based skills, the professionalism course and a defined period of relevant experience. The equivalent Scottish designation pre-2010 was FFA (Fellow of the Faculty of Actuaries). Both remain post-nominal letters following the 2010 merger.

Examination route (current syllabus)

• Core Principles (CP) — actuarial mathematics, statistics, business modelling, economics.
• Core Practices (CP1–CP3) — actuarial practice, modelling, communications.
• Specialist Principles (SP) — selected by area (e.g. SP7 General Insurance Reserving & Capital Modelling, SP8 General Insurance Pricing, SP1 Health and Care).
• Specialist Advanced (SA) — final-stage applied papers (e.g. SA3 General Insurance).

Practising certificates

For specific senior roles (e.g. Chief Actuary roles under the SM&CR, signing actuary roles), a Practising Certificate is required in addition to FIA status. Holders must demonstrate continued competency through CPD and recent relevant experience.

References

• IFoA. Qualifying as an actuary.
• IFoA. Practising Certificates Scheme.

Cross-references

• Actuary
• Institute and Faculty of Actuaries

Maintained by Matt Bartlett, Director, Apex Insurance Brokers Limited. FCA FRN 724952. Companies House 07014570.