ÌìÃÀMV

You can undertake some original research as an alternative to taking one of the ÌìÃÀMV’ Specialist Applications exams.

The research project must be undertaken at a university at the level of PhD, MPhil or Masters degree by Research and is likely to require at least two years of part-time study. 

Your research must involve an actuarial approach to problem solving and make an original contribution to actuarial science. The research project must demonstrate how the work links to relevant actuarial knowledge.

Prior to commencing your research project at university, you will need to submit an application form and research proposal to the IFoA. Further details are outlined below.

How do I apply?

You must have achieved passes or exemptions in the following subjects from the IFoA curriculum:

CS1, CS2, CM1, CM2, CB1, CB2, CP1, CP3 and one SP subject.

You will need to complete the SA0 application form. You need to send in a project proposal with a plan of work for a piece of original research on an actuarial topic which meets the criteria for SA0 projects discussed on this page.

The fee for SA0 is £1,474. £550 is payable once the project proposal has been approved. The remaining fee of £924 is payable once the completed project has been submitted and approved.

How does the process work?

1. Once you have been accepted onto an appropriate university research degree, submit your application form and research proposal.
2. The IFoA Board of Examiners will review your application and research proposal. 
3. The IFoA Board of Examiners will confirm whether you have been approved to commence your project.
4. Undertake your project with your university.
5. Successfully complete your degree, including any assessment such as a viva.
6. Submit the supervisor form to the IFoA alongside your competed project, degree certificate and transcript.
7. The IFoA Board of Examiners will confirm whether SA0 has been awarded.
8. The IFoA will inform you of the outcome and where successful, grant SA0.

Key differences between SA0 research project and SP0 alternative specialist principle exemption

The IFoA must be involved from the start and agree the research proposal.

The research project will test higher order skills and have a greater length and depth of work compared to SP0.

Your work should be of a standard to pass peer review. This standard is one suitable for publication in refereed journals, although it is understood that some projects will be commercially sensitive.

Successful SA0 research projects will normally be available for consultation in the library and on the website. In exceptional circumstances, for example in the case of certain commercial or sensitive works, the supervisors may make a recommendation to the IFoA for restricted access.  

In exceptional cases, the IFoA reserves the right to consider awarding an SA0 exemption retrospectively for completed research projects at the appropriate level which meet the specified criteria.

SP0: An Alternative Specialist Principle option (Route E)