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Universiti Malaya Actuarial and Financial Mathematics Society (UMACT)
professional
examinations
SOA PROFESSIONAL EXAMS
IFM :
Mar, July, Nov 2022 (Last administration)
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ATPA :
Module registration Jan 2022, first assessment in June 2022, offered 2 to 3 per year
Duration : 3 hours
Format :
30 MCQ, CBT (IFM)
Take home written exam (ATPA)
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Remark :
Replaced with Advanced Topics in Predictive Analytics (ATPA)
In 2022, students will have a choice between IFM and ATPA. But starting in 2023, only ATPA will be available.
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Feb, June 2022 (Last administration)
Duration : 3.5 hours
Format : 30 MCQ, CBT
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Remark :
It will be replaced with Fundamentals of Actuarial Mathematics (FAM) and choice either Advanced Long-Term Actuarial Mathematics (ALTAM) or Advanced Short-Term Actuarial Mathematics (ASTAM)
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FAM – 3.5 hours, MCQ (From Oct 2022 and every four months)
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ALTAM/ASTAM – 2.5 to 3 hours, proctored written-answer (From Spring 2023 and twice a year)
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April 2022 (Last administration)
Duration : 4.25 hours
Format : MCQ & written-answer questions
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Remark :
It will be replaced with Fundamentals of Actuarial Mathematics (FAM) and choice either Advanced Long-Term Actuarial Mathematics (ALTAM) or Advanced Short-Term Actuarial Mathematics (ASTAM)
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FAM – 3.5 hours, MCQ (From Oct 2022 and every four months)
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ALTAM/ASTAM – 2.5 to 3 hours, proctored written-answer (From Spring 2023 and twice a year)
Pre-Actuarial Foundations e-Learning Module
Available Jan 2022
Format : Take home written-answer
Actuarial Science Foundations e-Learning Module
Available Jan 2022
Format : Take home written-answer
*** Through Dec 31, 2024, candidates will be able to earn an ASA either by continuing to complete FAP or by completing the Pre-Actuarial Foundations and Actuarial Science Foundations e-Learning Modules
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Pre-Actuarial Foundations e-Learning Module or FAP Module 1 and Module 2
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Actuarial Foundations e-Learning Module or FAP Module 4
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All candidates need to complete FAP Module 3, Module 5, Module 6, Module 7, Module 8 and Final Assessment
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Starting Jan 1 2025, FAP will be streamlined into 5 e-Learning module plus the Final Assessment
IFoA PROFESSIONAL EXAMS
CS1
Duration : Part A - 3 hours and 20 minutes
Part B - 1 hour and 50 minutes
Format : Part A - CBT (Words), theoretical exam
Part B - CBT (Words and R)
Remark : You must sit Part A + Part B papers in the same session
CS2
Duration : Part A - 3 hours and 20 minutes
Part B - 1 hour and 50 minutes
Format : Part A - CBT (Words), theoretical exam
Part B - CBT (Words and R)
Remark : You must sit Part A + Part B papers in the same session
CM1
Duration : Part A - 3 hours and 20 minutes
Part B - 1 hour and 50 minutes
Format : Part A - CBT (Words), theoretical exam
Part B - CBT (Excels)
Remark : You must sit Part A + Part B papers in the same session
CM2
Duration : Part A - 3 hours and 20 minutes
Part B - 1 hour and 50 minutes
Format : Part A - CBT (Words), theoretical exam
Part B - CBT (Excels)
Remark : You must sit Part A + Part B papers in the same session
CB1
Duration : 3 hours and 20 minutes
Format : CBT (Words)
CB2
Duration : 3 hours and 20 minutes
Format : CBT (Words)
CB3
Format :
An online exam, business game (not timed but should take less than 2 hours to complete), a set of written exercises and online MCQ
Remark :
Students are required to complete the New Stage 1 Professionalism Course before they can sit for the CB3 exam
CP1
Duration : 3 hours and 20 minutes
Format : Paper 1 and Paper 2
CP2
Duration : 3 hours and 20 minutes each
Format : 2X CBT using Excel and Words
CP3
Duration :3 hours and 5 minutes
Format :
A single written exam, advanced material will be released 3 days prior to the exam
**In 2021/2022, all exams are online and will be sat in UK time, at home or at your workplace.
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**Examinations will be online in 2022 (Apr and Sept) and will be the same format as April and September 2021.
IFoA EXEMPTIONS
University | IFoA Exemption Subjects |
|---|---|
SIT2001 Probability and Statistics II | CS1A |
SIT2009 Regression Analysis | |
Computer Based Test (30%) | CS1B |
SIQ3006 Risk Theory | |
SIQ3010 Survival Models | CS2A |
SIT2010 Stochastic Processes | |
SIT3005 Time Series and Forecasting Methods | |
SIT3017 Statistical Learning and Data Mining | |
Computer Based Test (30%) | CS2B |
SIQ2003 Financial Mathematics and Derivatives | CM1A |
SIQ3003 Actuarial Mathematics II | |
Computer Based Testing (30%) | CM1B |
SIQ3002 Portfolio Theory and Asset Models | |
SIQ3004 Mathematics of Financial Derivatives | CM2A |
SIQ3006 Risk Theory | |
Computer Based Test (30%) | CM2B |
– Actuarial Statistics (CS1) –
– Risk Modelling and Survival Analysis (CS2) –
– Actuarial Mathematics (CM1) –
– Financial Engineering and Loss Reserving (CM2) –