The Specialist Principles (SP) modules require individuals to demonstrate an
understanding of the concepts of specific specialist areas.

Each module will be assessed using a 3 hours and 15 minutes paper-based examination. These will be taken in an
examination centre. Those who have obtained an alternative qualification have the option of applying for module
SP0. This is normally through a Level 7, Master’s Thesis in an actuarially relevant subject.
The Specialist Principle modules are:

 

IFOA New Curriculum

SP0
SP1
SP2
SP4
SP5
SP6
SP7
SP8
SP9

Master’s Level Thesis

ST0 is now SP0

Health and Care

ST1 is now SP1

Life Insurance

ST2 is now SP2

Pensions

ST4 is now SP4

Investment and Finance

ST5 is now SP5

Financial Derivatives

ST6 is now SP6

General Insurance: Reserving

ST7 is now SP7

General Insurance Pricing

ST8 is now SP8

Enterprise Risk Management

ST9 is now SP9

 

Two of these SP modules have to be passed to be eligible to qualify as a Fellow. You do not need to take any SP
subjects to qualify as an Associate.