Transfer of prior learning

What is transfer of prior learning?

Transfer of Prior Learning (TPL) is the route by which students currently with another actuarial association, wish to transfer to the IFoA, and complete their actuarial examinations with the IFoA.

Typically, TPL will be appropriate for students who have passed a number of examinations with another actuarial association, and who wish to transfer to the IFoA due to changes in their career, employment or location. There are restrictions on who can apply for TPL, and these are covered in more detail below.

TPL is a once in a lifetime application and individuals will need to decide at what stage in the qualification process, they wish to apply.

The IFoA will assess the examination history of the TPL applicant at their current actuarial association and will determine the equivalent IFoA examinations that can awarded to them. The IFoA will carry out this assessment on a portfolio basis, not a subject-by-subject basis. This is discussed in more detail below.

Who can apply?

What does ‘assessment on a portfolio basis’ mean?

The IFoA will assess a TPL application for an individual on a portfolio basis, and not a subject-by-subject basis. This means that the IFoA will consider all the exams an individual transferring to the IFoA has passed with their current actuarial association when determining the IFoA examinations they will be credited with.

The IFoA will accept the equivalent of the following examinations in a TPL application:

• Actuarial Statistics (CS1, CS2)
• Actuarial Mathematics (CM1, CM2)
• Core Business (CB1, CB2 and CB3)
• Core Practice (CP1, CP2, CP3)
• Specialist Principles (SP1 to SP9)

TPL applicants must have passed more than one examination with their current actuarial association. TPL is not intended to be in respect of individual examinations.

Application for transfer of prior learning

You must provide the IFoA with a completed transfer of prior learning form (DOCX, 60 KB). This must include:

• exam portfolio mapping evidence (outlined below)
• any requested documents in the TPL form (outlined below)

The completed form should be sent to memberservices@actuaries.org.uk. 

Exam portfolio mapping evidence

You must demonstrate that the exams you have passed in your current actuarial association are of broadly the same standard with respect to content, cognitive level and assessment to the equivalent IFoA examinations.

You are required to carry out a detailed mapping exercise which compares the learning objectives in the syllabi of the subjects you have passed with your current actuarial association, with the equivalent IFoA examination syllabi.

Please see the IFoA syllabus mapping template (Excel doc, 180 KB). This has all the syllabus objectives for each IFoA subject. You are required to populate the spreadsheet with the syllabus objectives from the equivalent subjects from your actuarial association.

The IFoA does not expect 100% correlation between the subjects passed by the TPL applicant in your current actuarial association, and the equivalent IFoA examination subjects syllabus.

Where the exam mapping evidence provided is insufficiently detailed the TPL application will not be considered, until further information is provided.

Additional requested documents

In addition to the completed exam portfolio mapping evidence, you will be required to provide the following documents:

• a letter stating your personal justification for this submission outlining the reasons for applying
• certified proof of membership from other actuarial association(s)
• certified proof of the examinations passed with the other actuarial association

Application restrictions

The following restrictions apply on TPL applications.

• An application for TPL must be completed before you join as a student member of the IFoA. You will be advised to submit your membership application once your TPL application has been considered.
• You cannot make a TPL application if you subsequently pass an examination with another Actuarial Association once you have joined the IFoA.
• Your examination passes must have been obtained with your current actuarial association before your TPL application is submitted to the IFoA.
• Your examinations/exemptions in a TPL application must have been passed with a single actuarial association. The IFoA will not accept TPL applications based on examination passes with multiple actuarial associations.
• You cannot add additional examination passes after your application for recognition of TPL has been submitted, and you have subsequently joined the IFoA as a student member.
• If you are successful in applying through the TPL route, but subsequently leave the IFoA before qualifying, you will not be able to apply to join the IFoA through mutual recognition once you have qualified with another association.
• If your TPL application is accepted, you must apply for transfer and/or admission within 60 days of receiving the outcome of your application. Failure to do this will result in your request being rejected and you will need to re-apply, with no guarantee of the subsequent application being accepted.

When is this effective from?

This is effective immediately.

How much will a TPL application cost?

The cost to you is:

• a non-refundable application fee
• exemption fees on a per-subject basis for each exemption awarded
• IFoA membership subscriptions when you join the IFoA

Details of the application fee and exemption fees can be found on our exam and other fees webpage.

Service standards

It will normally take up to 8 weeks to complete the TPL application process, from the point that the IFoA receives all the information it requires up to a decision being made about an individual’s TPL application.

Please ensure that you provide the IFoA with all the required information in the first instance. If we require further information or evidence from you to support your application, this may incur delays in the process.

Appeals

The IFoA’s decision about an individual’s TPL application is final and there is no option of appeal.