Get all the updates on the introduction of our new exam system and objective based assessments, and all other IFoA exam news
Find all updates related to exams below, which cover:
Find all updates about our new exam system and objective based assessments here.
You can also learn more about the new exam system, exam delivery, system testing, and objective based assessments in our exam development FAQs.
28 November 2023
Our CB1 and CB2 exams will be delivered in their current format rather than in objective based assessment (OBA) format in April 2024.
If you have already started to prepare for our CB1 or CB2 exams in OBA format, we would like to reassure you that although we will be assessing CB1 and CB2 in written assessment format in April, the knowledge that is assessed in these exams remains the same.
If you have studied the syllabus and core reading and are following a revision plan, there is no need to change your study plan.
Any preparation you have already completed will be transferable to a written assessment. However, you may want to include written practice answers as part of your exam preparation.
You can find out more on our:
28 November 2023
We have taken the decision to delay the introduction of the new exam system until it is ready to support our exams and our candidates.
This means that we will deliver all IFoA exams on our current platform in their traditional format in April 2024. This includes the delivery of our CB1 and CB2 exams in their current format rather than in objective-based assessment (OBA) format.
Dates for our April 2024 exams have not changed and are available on our exam dates page.
You can find further information on our:
20 October 2023
To support candidates as we transition to our new online exam system, we have published additional resources for candidates.
These new resources will support candidates as they prepare to sit exams on our new exam system in April 2024.
A technical readiness check is a quick and easy way to check whether your equipment and software meet the technical requirements for our exam system.
We recommend you complete a technical readiness check on the equipment you intend to use to sit your exams at the earliest possible opportunity, to identify and resolve any potential equipment or software issues.
To complete a technical readiness check, visit our new exam system technical requirements web page.
You can now test whether your internet speed meets the minimum requirements for our new exam system.
You can test your internet speed on our new exam system technical requirements web page.
3 October 2023
We have published new practice questions for our CB1 and CB2 objective based assessment (OBA) format exams.
Candidate feedback from our OBA trial exams showed that practicing objective based assessment questions is important.
So, to help candidates prepare to sit CB1 (Business Finance) and CB2 (Business Economics) exams in 2024, we have published new OBA format practice questions for these exams.
Candidates can access these new practice questions on our Business curriculum web page.
28 September 2023
We have changed the dates for our new online exam system testing.
Testing was planned to take place on 24 and 26 October.
It will now take place on 31 October and 2 November 2023.
This will be the final test of our new exam system to ensure we are confident of delivering a high standard online exam experience for April 2024.
This is an excellent opportunity for candidates to familiarise themselves with the new system in preparation for our April 2024 exams. This includes an opportunity to experience our new online invigilation process.
Register your interest in taking part in our new exam system final testing
If you register your interest, we will contact you to confirm whether you are part of the group taking part in final testing in the week commencing 9 October.
25 September 2023
We want to support candidates as we transition to our new online exam system and OBA format exams for our CB1 and CB2 subjects.
We are publishing a range of resources for candidates over the coming months to support their preparations and enable candidates to familiarise themselves with the new exam system well in advance of April 2024.
To sit familiarisation exams on our new online system, candidates can now visit our familiarisation exam web page.
Familiarisation exams allow candidates to experience using our new exam system before their exam, giving candidates an opportunity to navigate around the new exam system and practice using the new system tools and functionality.
We strongly recommend candidates sit familiarisation exams to get used to using the new online exam system and tools at the earliest possible opportunity.
Candidates can now practice using the new online exam system and tool by sitting an essay style exam, which includes questions from past IFoA Specialist Principal and Specialist Advanced exam papers.
Candidates can also sit CB1 and CB2 objective based assessment (OBA) format familiarisation exams to gain experience using the online exam system and practice answering OBA style exam questions.
6 September 2023
Help test our new online exam system in October.
This will be the final test of our new exam system to ensure we are confident of delivering a high standard online exam experience for April 2024.
This is an excellent opportunity for candidates to familiarise themselves with the new system in preparation for our April 2024 exams. This includes an opportunity to experience our new online invigilation process.
Testing is planned to take place on 24 and 26 October.
You can register your interest in taking part in our October exam system testing here.
If you register your interest, we will contact you to confirm whether you are part of the group taking part in October testing once we have finished our September exam session.
16 August 2023
We are pleased to confirm that we are on target to introduce a new online exam delivery system for our April 2024 exam session.
We will undertake further system development and following the final exam system testing in October, we will formally confirm that we are ready to deliver our April 2024 exams on the new system in November.
We plan to deliver the following exams on the new exam system in April 2024:
These exams will be delivered on the new exam system. These exams will not be delivered in OBA format.
You can find out more about our new exam system and support and resources for candidates on our exam developments page.
We plan to deliver our CB1 and CB2 Business exams in objective based assessment (OBA) format on our new exam system in April 2024.
Find out more about OBAs and support and resources for candidates on our:
16 August 2023
We are pleased to confirm that we are on target to introduce objective based assessments (OBAs) for CB1 and CB2 in our April 2024 exam session.
We will undertake further system development and following the final exam system testing in October, we will formally confirm that we will be ready to deliver our April 2024 CB1 and CB2 exams in OBA format in November.
Candidate results and feedback from our OBA trial exams show that candidates’ study preparation for OBAs will need to be different to how they prepare for the current written exam papers.
Over 60% of our trial exam volunteers reported that completing the OBA exams was challenging without OBA specific study preparation.
To ensure candidates are as well prepared as possible for the new OBA format exams, we encourage candidates to develop a strong understanding of all syllabi learning objectives and that they are prepared by practising OBA questions.
We have published resources to support candidates as we transition to OBA format exams for CB1 and CB2.
You can find study tips to help you approach OBA style exams on our objective based assessment study tips page.
We will be publishing familiarisation exams for CB1 and CB2 OBAs on the IFoA website later in August.
We will be releasing further practice questions for our CB1 and CB2 exams in September.
You can find out more about OBAs in our exam developments FAQs: OBAs.
26 July 2023
We need your feedback to help shape our new exam system.
We want to find out more about the equipment you use when you sit IFoA exams, so we can make fair and equitable decisions about our future exam system and guidance.
While we have collected valuable insight from our April 2023 post exam survey on the equipment candidates use and the locations where they sit exams, we want to understand whether this reflects your experience.
Feedback from our recent April 2023 post exam survey indicated that:
Please help us gather more data to help us shape our future exam service and guidance by completing this short survey on where and how you sit your exams.
Take part in our survey on how you sit your exams. The survey will close on 17:00 UK time on 25 August.
It will only take a few minutes to complete and provide us with valuable feedback.
Find out more about our exam development and how your feedback has already helped shape our new exam system on our exam developments web page.
26 July 2023
In June over 300 candidates from over 30 countries helped test our new online exam system.
Testing a system under exam conditions and gathering candidate feedback is an essential part of any system development and provides us with critical information to help further improve our design, operational processes, and communications.
We would like to thank everyone who participated in these test exams and shared feedback with us.
Candidates who took part in the test were able to experience sitting an exam with remote invigilation for the first time and provided feedback on using the new system.
We want to share key insights and learning from our exam system tests:
Testing has highlighted the importance of candidates being able to practice the onboarding process before sitting their exam. We will therefore make sure all candidates can practice onboarding before a live exam and have access to detailed instructions on how to complete the process.
Candidates will need to practice using the in-system tools well in advance of a live exam. To support candidates, we will be releasing familiarisation exams and producing system guides and other resources. We are continuing work to identify how best to deliver exams which require large amounts of complex mathematical calculations or the use of spreadsheets before we move them to the new exam system in September 2024.
We will be providing clarity on when candidates should be using onscreen technical chat. We will also develop and share clear guidance on exam rules and regulations before go-live.
We are continuing our analysis of candidates’ test feedback and working with our supplier to further refine, test and improve the new online exam system and our operational processes. In August, we will assess of our readiness to launch the new system and will share the outcome with candidates and employers at the earliest possible opportunity.
We will continue to update you on the introduction of our new exam system and share guidance and resources on our exam developments web page.
16 May 2023
We have taken the decision to delay the introduction of the new exam system while we continue to thoroughly test that it is ready to support our exams and our candidates.
Early testing has been completed and improvements identified. For this reason, we are delaying the launch to April 2024 to ensure these improvements can be implemented and tested before we go live.
We will continue to develop the system until we are confident of delivering a high standard online exam experience, that maintains our exams’ integrity.
This means that we will deliver all IFoA exams on our current platform in their traditional format in September 2023. This includes the delivery of our CB1 and CB2 exams in their current format rather than in Objective Based assessment (OBA) format.
Our September 2023 exam dates remain the same. However, we no longer need to hold contingency dates for any exams.
16 May 2023
We are still accepting volunteers to help with exam system testing at the end of June 2023.
This is an excellent opportunity to familiarise yourself with the new system in preparation for the April 2024 exams.
The test will include a range of past exam questions so you can explore all the features of the new exam system, including excel entry and inputting formula and calculations.
Testing is planned to take place on 27 June and 29 June. These dates will be confirmed in early June.
For further information about the new exam system and our launch of objective based assessments (OBAs) can be found on our exam developments web page.
16 December 2022
We have published specimen exam papers in objective based assessment (OBA) format for our CB1 and CB2 exams.
We want to give candidates plenty of time to prepare for the introductions of OBAs. So we are pleased to announce the release of specimen exam papers for our Business Finance (CB1) and Business Economics (CB2) exams in OBA format.
These specimen exam papers are representative of the depth and breadth of knowledge that will be assessed in a single exam.
We will also make these specimen exam papers available in the new exam delivery system in 2023. This will enable candidates to familiarise themselves with the question formats in preparation for our September 2023 exam sitting.
30 November 2022
We have published a new webpage with all the information and updates on our new exam system and the introduction of objective based assessments (OBAs).
As part of our work to deliver more modern and digital methods of assessment, we are introducing a new exam system to enhance our online examination service. We are also developing OBAs.
On the page, you can find all information and resources for the new exam system, the introduction of OBAs, and what this means for you on our new exam developments web page.
Visit our exam developments page
30 November 2022
We are asking for your help with initial exam system testing in February 2023. It’s an excellent opportunity to familiarise yourself with our new exam system in preparation for the September 2023 exams.
This is to ensure we are delivering the robust, forward-looking service that you have said is important to you. We will use these tests to identify any system issues and ensure we fix them before a larger trial exam in June 2023.
This stage of testing does not require you to sit a full exam: we will be conducting specific exam scenario tests that we will define for you.
Interested in getting involved? Please complete our new exam system testing volunteer form.
30 November 2022
You can now find the technical requirements for our new exam system on a dedicated page.
To support you in preparing for the introduction of our new exam system in September 2023, we have published the technical requirements for the new exam system.
You can find information on operating system, hardware, internet browser requirements, and minimum upload and download speeds.
You will also find a list of domains you will need to access to connect to the exam system and links you can use to test your access to the domains.
We will post all general exam updates here as they come available.
16 April 2024
Following the Economic modelling (CM2A) exam on Monday 15 April, candidates raised concerns about some of the questions within the exam paper.
We want to reassure you that we have taken this feedback on board and have undertaken an investigation into the alignment of all questions to the CM2 2024 syllabus, with a particular focus on questions 1 (ii) and (iii), and question 5.
All questions have been reviewed by the IFoA examining team and we can confirm:
We understand how important our examinations are to you and apologise that on this occasion an error was identified with question 1 (ii) and (iii).
If an error or ambiguity is identified with an exam paper, we will take this into consideration during the marking process to ensure candidates are not disadvantaged. Should mitigating action be required, it is proposed and ratified by the Board of Examiners before results are published.
Full information will also be provided in the Examiner’s report.
15 August 2023
You can now find exam dates for our April and September 2024 exam sessions on our exam dates web page.
We have scheduled reserve exam dates if, in exceptional circumstances, we are unable to run an exam on the new exam system on the scheduled day.
These reserve exam dates are for emergency contingency purposes and will only be for exams taking place on the new exam system.
You can find these reserve exam dates on our exam dates web page.
26 July 2023
In our April 2023 Student and Associate newsletter, we told you that candidates and employers had reported an issue with the spreadsheet which formed part of the materials for our CP2 paper 1 exam and that candidates had given us feedback related to the perceived difficulty of our CS2 exam.
We were unable to provide further information at the time, as we were carrying out investigations into both issues.
We are happy to inform you that we have completed our investigations and have published further information on these issues in the examiners’ reports for each subject.
You can find examiners’ reports on our past exam papers and examiners’ reports web page.
26 July 2023
We understand how important the integrity and high standing of our qualifications are to our members and employers. To safeguard the reputation of our qualifications, we take the integrity of our exams and guarding against inappropriate conduct very seriously.
We updated our Assessment Regulations to reflect our online, open book exam environment and have produced clear guidance on inappropriate conduct and plagiarism in exams. We have measures in place to prevent inappropriate exam conduct, including two-factor authentication and exam question review.
We have several methods for identifying possible breaches of IFoA Assessment Regulations. These include use of software, exam markers highlighting concerns,
whistleblowing, and carrying out a review of every exam script to detect potential inappropriate exam conduct.
During our April 2023 exam session, we reviewed over 12,500 exam scripts. Following the exam script review process, 1% of the exam scripts were referred for further investigation. Each possible breach of our Assessment Regulations was reviewed by IFoA executive staff, including education actuaries, along with examiners. If, after review, inappropriate conduct was still suspected, candidates were notified and invited to respond, before all the information in each case was referred to a panel for consideration.
Panel members undertake an independent review of each exam script and all evidence submitted, before meeting and working through all of the cases to ensure a fair outcome.
Following a robust review process, investigation outcomes for the 1% of exam scripts referred for further investigation in our April 2023 exam session, were:
These outcomes range from a formal warning through to a 24 month exam booking ban, depending on the severity of the breach of our Assessment Regulations.
As candidates become more confident in the open book, online exam environment, we continue to see an encouraging downward trend in the number of scripts that require further investigation by the panel. The percentage of total exam scripts flagged for further investigation during recent exam sessions are:
• around 2% in September 2021 and April 2022, and
• around 1% in September 2022 and April 2023.
While this is encouraging, some candidates have reported that they are unfamiliar with the regulations and guidance around avoiding inappropriate conduct. We encourage candidates to read our Assessment Regulations and Exams Handbook, and our online guidance on inappropriate conduct before each exam session, to ensure they are aware of how to avoid inappropriate exam conduct.
Visit our inappropriate exam conduct web page.
26 July 2023
Your feedback is essential to help us understand how we can improve your candidate experience and develop our exam services in the future.
We would like to thank the 2,710 candidates who completed our post exam survey for our April 2023 exam session. 17% of the 15,677 candidates who participated in the exams took part.
We are analysing all your feedback and will update you on the survey findings and how we will use this insight to improve your candidate experience shortly.
7 July 2023
We have updated the syllabi for our 2024 exams.
If you’re planning to sit an exam in 2024, we recommend that you:
We review the syllabi of our Associateship and Fellowship subjects every year.
Each syllabus outlines the objectives for the subject and guides you on what you need to learn and be able to do. It also gives a description of the assessment for that subject.
For more information, see the:
27 February 2023
You can find a complete guide to preparing for and sitting your online exam in our April 2023 Examination Handbook.
The handbook contains essential information including requirements for testing the exam platform before your exam, uploading your exam answer script and what to do if something goes wrong on the day of your exam.
View our April 2023 Examinations Handbook.
31 March 2023
We have published guidance on the use of artificial intelligence (AI) tools in IFoA exams.
Candidates have requested clarification around the use of generative AI tools in IFoA exams, so we have published clear guidance on the use of AI tools, such as ChatGTP, in our exams.
We have set out that the use of any generative AI tool is not permitted in IFoA exams. The guidance also covers the detection of the use of AI tools and what generative AI and its evolution may mean for IFoA exams in the future.
We will be contacting all candidates who have booked to sit exams in April to flag this guidance.
Read the guidance at Use of AI tools in IFoA assessments
3 January 2023
We have updated the syllabi for our 2023 exams.
If you’re planning to sit an exam in 2023, we recommend that you:
We review the syllabi of our Associateship and Fellowship subjects every year.
Each syllabus outlines the objectives for the subject and guides you on what you need to learn and be able to do. It also gives a description of the assessment for that subject.
For more information, see the:
3 January 2023
We are making changes to questions 1 and 2 in our 2023 CP3 exams.
This question will now be worth 80 marks (previously this was 90 marks).
We have reduced the marks available across the sections, including for communication content overall (5 marks) and for spelling and grammar.
This question will now be worth 20 marks (previously 10 marks), split over 3 to 6 question parts.
The themes of the question parts will be similar to previous papers. Some question parts may be more in-depth and have more marks allocated than previous exams.
We will be looking for a more comprehensive answer with students expected to generate more points given the additional marks.
As per the usual process, the examiners set the marking schedule according to the exam. They therefore reserve the right to change the mark allocation between different sections depending on the exam.
Please review the CP3 syllabus for 2023 exams on our communications practice page.
If you are planning on booking an exam, please check that you have met your Personal and Professional Development (PPD) requirements.
You need to record a minimum amount of PPD credits and formal learning hours each year, in order to book IFoA exams.
You can review, record and edit your current PPD record by logging in to your online account.
If you have not fulfilled your PPD requirements, you won't be able to book exams. So, please make sure your PPD is up-to-date, or you request a PPD exemption in plenty of time before exam booking opens.
Don't worry if you have missed your PPD deadline, find out what you need to do on our missed PPD deadline web page.
If you need further guidance or would like to request a PPD exemption, please contact our Member Services team who will be happy to help you.