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
Master’s Level Thesis
ST0 is now SP0
Health and Care
ST1 is now SP1
ST2 is now SP2
ST4 is now SP4
Investment and Finance
ST5 is now SP5
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.