INSTITUTE OF ACTUARIES OF INDIA (ENTRY OF NAMES IN REGISTER OF

MEMBERS, EXAMINATION AND TRAINING FEES PAYABLE, MANNER OF

CHOOSING HONORARY MEMBERS, ADMISSION OF AFFILIATE MEMBERS,
STUDENT MEMBERS AND ISSUANCE OF CERTIFICATE OF PRACTICE)
REGULATIONS, 2013
In exercise of the powers conferred by clauses (a), (b), ( c), (d), (e), (f) and (g) of sub-section
(2) of section 56 of the Actuaries Act, 2006 (No. 35 of 2006), the Institute, with the previous
approval of the Central Government, makes the following regulations, namely: 1. Short title, extent and commencement
(i)These regulations may be called the Institute of Actuaries of India ( Entry of names in
Register of Members, Fees Payable, Manner of Choosing Honorary Members, Admission of
Affiliate Members, Student Members and Issuance of Certificate of Practice) Regulations,
2008.
(ii)They shall come into force on the date of their publication in the Official Gazette.

2. Definitions.
In these regulations, unless the context otherwise requires,
(a) Act means the Institute of Actuaries of India Act, 2006 (35 of 2006);
(b) Certificate of Practice means the certificate of practice issued pursuant to the
provisions of Section 9 read with these regulations;
(c) Executive Director means the individual appointed as such pursuant to the provisions
of Section 20 of the Act;
(d) Honorary Secretary means Honorary Secretary to the Council
(e) Institute means the Institute of Actuaries of India constituted under section 3 of the
Act;
(f) All words and expressions used herein and not defined but defined in the Act, or any
Rules or Regulations made thereunder shall have the meanings assigned to them in the
Act or the Rules or the Regulations, as the case may be.

3. Examination and training requirements for the purposes of clauses (b), (c)
and (d) of sub-section (1) of section 6;
(i) Syllabi for examinations
The Institute shall put up in its website in a manner accessible to its members the syllabi for all
the examinations required to be completed for obtaining Fellowship of the Institute.
Provided that, keeping global trends and developments in the field of actuarial science and the
profession of actuaries in mind, the Council may from time to time, amend, alter or vary in part
or full the syllabi for any paper of study or examination, and notify the same on the website of
the Institute for the information of all concerned.
Provided further that any such amendment, alteration or variation in the syllabi for any paper of
study or examination shall take effect six months after the date of notification on the website of
the Institute.
( ii) Conduct of examinations

The examinations shall be conducted in such manner and at such time and places as the
Council, or a Committee or a person authorized by the Council may decide from time to time.
(iii) Application for Admission to an Examination
An application for admission to an examination shall be made online or in the form E
Schedule H prescribed, which may be modified from time to time, by obtaining the same from
the Executive Director, and together with the fee fixed for the examination by the Council from
time to time, and that the duly filled in application form along with the requisite fees shall be
sent to the Institute so as to reach the Executive Director in time and in accordance with the
directions given by the Council from time to time.
An Examination Admit Card in Form F as set out in Schedule I, which may be modified from
time to time, as appended at the end of these Regulations shall be issued to the candidates
appearing for examination.
(iv) Right to refuse admission to Examination
( i ) The Council, or a Committee or a person authorized by the Council for this purpose ,
may, for any sufficient reason to be recorded in writing, refuse to admit a candidate to an
examination or admit him to an examination subject to such conditions considered to be
reasonable in the circumstances of the case or may for any sufficient reason to be recorded in
writing , refuse a candidate admission to an examination hall or expel him from an examination
hall, after he has been admitted to it in the usual course.
( ii)Any order passed by the Council, or the Committee or the person authorised by the
Council, may be reviewed by the Council on representation made by the affected candidate and
that the decision of the Council shall be final and binding on all concerned.
(v) Refund of fees
The fee paid by a candidate who has been admitted to an examination shall be refunded under
certain circumstances as per the guidelines decided by the Council or the Committee or the
person authorized by it.
(vi) Examination Results
A list of candidates declared successful at each examination shall be published on the
Institutes website, after it is duly signed by authorized person.
(vii) Examination Certificates
A candidate passing an examination shall be granted a certificate to that effect in Form G as
set out in Schedule B, which may be modified from time to time, appended at the end of these
regulations.

(viii)Disciplinary action in connection with examination

If a candidate is reported to have behaved in a disorderly manner in or near an examination hall

or is reported to have resorted to or attempted to have resorted to unfair means for the purpose
of passing/disturbing an examination, the Council or a Committee or a person authorised by it,
may, on receipt of a report to that effect and after such investigation as it may deem necessary,
take such disciplinary action as it may think fit, provided that an opportunity shall be given to
the candidate of being heard before an order affecting him is passed.
Explanation Disciplinary action may include cancellation of
result, or cancellation of his student membership or both.

candidates examination

4.) Admission as a Fellow

(i) A person may be admitted as a Fellow member on satisfying the requirements mentioned
below:
a) Attained twenty one years of age as on date of application; and
b) passing all the examinations as prescribed by the Council for Fellow membership;
c) Completing Professionalism or other course / training requirements prescribed by
the Council within a specified period prior to the application date; and
d) having relevant years of work experience on the application date as prescribed by
Council; and
e) making an application as specified in sub-section (3) of Section 6 of the Act; and
f) on payment of fees as required in sub-section (3) of Section 6 of the Act.
(ii) The scope of relevant work experience shall be as decided by the Council or Committee
or person authorized by it from time to time.
Provided that the Council may dispense with the examination qualifications in the case of a
person who has passed such examination from another actuarial body or an academic
institution deemed to be equivalent to the corresponding examination of the Institute. The rules
for determining such equivalence shall be as laid down by the Council.
Provided that regulation 4 (1) (b) shall stand waived for an affiliate member who is seeking
admission as a fellow member on satisfying the following two conditions:a) on the date of application for fellow membership of the Institute, the person continues
to be a member of the actuarial body based on which he was admitted as an affiliate
member of the Institute;
b) on the date of application for fellow membership of the Institute , an Affiliate member
has at least one year of India-resident work experience or has passed an examination on
India specific legislation, legal and regulatory environment and practices, the scope of
which shall be as decided by the Council from time to time.
Provided further that the Council shall have the discretion to change the above conditions
from time to time, and notify the same for the information of all concerned on the website
of the Institute.
A certificate of membership shall be issued in Form I Schedule H appended to these
Regulations.

5. Admission as an Associate
A person shall be admitted as an Associate member on satisfying the requirements mentioned
below:
a) Attained twenty one years of age as on date of application; and
b) passed all the examinations of prescribed by the Council for Associate membership; and
c) Completing professionalism or other course / training requirements prescribed by the
Council within a specified period prior to the application date; and
d) making an application as specified in sub-section (3) of Section 6 of the Act; and
e) on payment of fees as required in sub-section (3) of Section 6 of the Act.
Provided that the Council may dispense with the examination qualifications in the case of a
person who has passed such examination from another actuarial body or an academic
institution deemed to be equivalent to the corresponding examination of the Institute. The rules
for determining such equivalence shall be as laid down by the Council.
A Certificate of membership shall be issued in Form H Schedule G appended to these
Regulations.

6. The manner of making an application under sub-section (3) of section 6

(i) Application for membership
( a) A person who desires to be admitted as an associate shall submit to the Executive Director
an application in the appropriate form B Schedule C appended to these Regulations together
with documentary evidence about his eligibility for membership and the fee prescribed in these
Regulations.
(b) A person who desires to be admitted as a fellow shall submit to the Executive Director an
application in the appropriate form D Schedule D appended to these Regulations together
with documentary evidence about his eligibility for admission as a fellow and the fee
prescribed in these Regulations.
A person who desires to enroll himself as a student member of the Institute shall submit to
the Executive Director an application in the appropriate form A Schedule E appended to
these Regulations together with documentary evidence about his eligibility for membership
and the fee prescribed in these Regulations.
(d) A person who desires to be admitted as an affiliate member of the Institute shall submit to
the Executive Director an application in the appropriate form C Schedule F appended to
these Regulations together with documentary evidence about his eligibility for membership
and the fee prescribed in these Regulations.
(ii) The applicant shall furnish such further information as the Council may require.

7. Fees payable under sub-section(3) of section 6, sub-section (2) of section 9,

clause (a) of sub-section (2) of section 19, sub-section (4) of section 23
(i) Fees for entering names in the Register
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Fees for entering names in the Register shall be as laid down by the Council from time to time
but not exceeding Rs. 25,000Provided that the Council has powers to review the aforesaid ceiling, as may be considered
proper and expedient and notify the members accordingly.
(ii) Examination/Course Fees
The examination/course fees shall be as laid down by the Council from time to time but not
exceeding Rs.1,00,000/- per subject for students in India including SAARC countries
Provided that the examination fees payable by persons with examination centre outside of India
and SAARC shall be as laid down by the Council from time to time but not exceeding Rs.
2,00,000/- per subject.
Provided that the Council has powers to review the aforesaid ceiling, as may be considered
proper and expedient and notify accordingly.
(iii) Annual Membership Fees
The annual membership fees payable by members shall be as laid down by the Council from
time to time but not exceeding Rs.25,000/- per annum.
Provided that the annual membership fees payable by members with address for
correspondence outside of India as in the Register of Members shall be as laid down by the
Council from time to time but not exceeding Rs. 50,000 per annum.
Provided that the Council has powers to review the aforesaid ceiling, as may be considered
proper and expedient and notify the members accordingly.
(iv) Other Fees
(a) The Council shall, from time to time, specify fees for course material but not exceeding
Rs.50,000/- per subject.
Provided that the fees for course material fees payable by persons with address for
correspondence outside of India shall be all laid down by the Council from time to time but not
exceeding Rs. 1,00,000 /- per subject.
Provided that the Council has powers to review the aforesaid ceiling, as may be considered
proper and expedient and notify accordingly.
(b) The Council may from time to time determine the fees for conducting seminars and
conferences and any other member services.

8. The manner in which honorary members may be chosen under subsection (1) of section 8
(i) The Council may, by a vote of not less than four-fifths of all its members, admit as an
honorary member, a person who, on account of his eminence and his experience in matters
related to the profession of actuary is considered to be able to render assistance in promoting
the objects of the Institute provided that he is not practicing as an Actuary.
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(ii) The person to be considered for such admission shall satisfy all the requirements
prescribed by the Council from time to time.

9. The terms and conditions on which an affiliate member may be admitted

under sub-section (2) of section 8
A person may be admitted as an affiliate member on satisfying the requirements mentioned
below:
a) Attained twenty one years of age as on date of application; and
b) making an application as specified in sub-section (3) of Section 6 of the Act; and
c) on payment of fees as required in sub-section (3) of Section 6 of the Act; and
d) Possesses a qualification from another actuarial body deemed by the Council as
equivalent to the fellow membership of the Institute ; and
e) the Institute has a reciprocity agreement with such actuarial body mentioned in (d)
above. Such reciprocity arrangement shall be evidenced through the signing of a
mutual recognition agreement or its equivalent between the Institute and the other
professional actuarial body, as duly authorized by the Council;
f)
Explanation: The determination as to whether an actuarial qualification from another actuarial
body is deemed as equivalent to the Institutes fellow membership shall be as per the norms
laid down by the Council from time to time in this behalf.

10. The academic qualifications for admission of a student member under

sub-section (3) of section 8
A person is eligible for admission if he/she satisfies the following condition:

1) Passed 10 + 2 (HSC) or equivalent; and

2) Passed Actuarial Common Entrance Test (ACET) conducted by the Institute

PROVIDED that the Council shall have the discretion to change the admission criterion
mentioned above from time to time.

11. Qualification required for a certificate of practice under sub-section

(1) and the form in which an application may be made under
sub-section (2) of section 9
(i) Only a fellow member of the Institute can engage in actuarial practice. He shall be deemed
to be in practice as defined in sub-section (2) of section 2 of the Act on his satisfying the
conditions laid down therein. Such a fellow member shall hold a valid Certificate of Practice
issued by the Institute.
(ii) The Certificate of Practice shall be issued on a fellow member making an application in
Form J as set out in Schedule I as appended at the end of these regulations, and satisfying
6

conditions as laid down by the Council from time to time, along with the prescribed fees. The
fees shall be as laid down by the Council from time to time but not exceeding Rs.1,00,000/-.
Provided that the Council has powers to review the aforesaid ceiling for fees, as may be
considered proper and expedient and notify the members accordingly.
A Certificate of Practice (CoP) shall be issued in Form K Schedule J appended to these
Regulations.
(iii)The Council further reserves the right to issue other forms of Certificate of Practice as may
be required by any regulatory authority or statutory body or as deemed fit by the Council. The
fees shall be as laid down by the Council from time to time but not exceeding Rs.1,00,000/-.
Provided that the Council has powers to review the aforesaid ceiling for fees, as may be
considered proper and expedient and notify the members accordingly.

Schedule B Examination Certificate Form Form G

Ref No: - XXXXXXXXX

Date: DD/MM/Year

Name: XXXXXXXXXXXXX
Address: XXXXXXXXXX

Dear Mr. /Ms. XXXXXXXXXXXX

Sub:- Performance Report for Month/Year

examination

Your results for the Month/Year Examinations for subject XXXXXXXXXXX is shown below. Those
who have not passed should refer to the notes below.
Subject

Roll No.

Centre

Grade

CT1 Financial Mathematics

1711004

17

PASS

Notes:Any grade of failure shown on your results is an indication of the overall standard achieved. The mark
ranges below are given to assist those candidates who have failed the examination to assess the degree
of improvement required.
FA
:
1-5
percentage points below the pass mark
FB
:
6-15 percentage points below the pass mark
FC
:
16-25 percentage points below the pass mark
FD
:
More than 25 percentage points below the pass mark
For example if the pass mark were 55%, the FB range would indicate a mark of 40-49%.
An FD grade (or repeated FC or equivalent from the previous examination system), after proper and full
preparation, suggests that the candidate should consider their plans carefully and seek advice where
appropriate.

Executive Director

Schedule C Application form for admission as an Associate Form B

Application form for Admission as Associate Member

Notes:
1) Please use block letters only
2) Please initial each page
3) Admission to AIAI can take place from category of Student Member.

Please affix
latest
Passport
Size
Photograph

Requirement for Admission as Associate Member:A student member should have passed or exempted from all CT(CT1-CT9) and CA (CA1-CA3)
series Examination.

1. Name
Surname
First Name
Middle Name
Name for communication

2. Date of Birth
DD

MM
YYYY

3. Address for Communication

Line 1
Line 2
Line 3
Line 4
PIN/Post Code

STD CODE

Tel

Mobil

Fax

E-mail

4. Employer Details
Name of the
current Employer
Address Line 1
Line 2
Line 3
Telephone No.
Fax

E-mail

5. Membership No. and Year of Admission as Student :

6. Subscription Details : Please give details of subscription paid.
Receipt No./Date
Amount
D.D. No./Date

7. Student Category Member to mention the Exam Diet in which the last subject/s
passed/exempted : (Please enclose photocopies of result / exemption letter)
Subject Code

Subject Name

Exam Diet
Passed/Exemption dated

8. Payment Particulars
DD/Cheque No.

Bank Name

Amount

9. If you are a member of any other professional body in India or elsewhere, provide details of
disciplinary action, if any, taken in the past or currently under consideration.
10

Declaration:
I hereby apply for admission as an Associate Member of the Institute of Actuaries of India. I
hereby declare that I am not subject to any of the disqualifications stated in Section 11 of the
Actuaries Act, 2006.
I further understand that the decision of the Council of the Institute of Actuaries of India on this
application shall be final and binding on me.
Date
Place
Signature

For Office Use Only

Receipt No: ___________________
Date:

___________________

Amount:

___________________

Admitted by the Council at its meeting / circular resolution: __________________

11

Schedule D - Application form for admission as a Fellow Member Form D

Application form for Admission as Fellow Member

Note:
1.
2.
3.

Please use block letters only

Please initial each page
Admission to FIAI can take place from category of Student Member
Or Affiliate Member.

4.

Please scan your qualification certificate and send along with

this application.

Photograph
please affix
latest one

5. Please furnish details regarding current status of your membership with the parent body and also
also details of disciplinary matters of relevance, if any.

Requirement for Admission as FIAI

For Student
i.
ii.
iii.

A student member should have passed all the prescribed examinations of IAI or should have
been exempted from one or more subjects as per rules
Should have completed India Fellowship Seminar within 24 months of the application date.
Actuarial Work based experience as under;
Application for admission as FIAI date:

1. On or after 01 01 2008

Minimum number of years of work

based experience required:

Three (3) years

For Affiliate Member

i.
ii.
iii.

An Affiliate member should have atleast one year of India-resident actuarial work
experience, and
Should have completed India Fellowship Seminar within 24 months of the application date.
IAI should have MRA with other Actuarial body on the basis of which Affiliate membership
was granted.

Category under which this application is being made (please);

Student Membership
Affiliate Membership
Membership No

12

9. Name
Surname
First Name
Middle Name
Name for communication

10.

Date of Birth

DD

MM
YYYY

11.

Actuarial Qualifications

Designation
title

Institute

Year of Qualification/admission

1. Communication Address
Address Line 1
Line 2
Line 3
Pin code
Telephone No.
Fax
E-mail
2. Address for Communication
Line 1
Line 2
Line 3
Line 4
PIN/Post code
Tel
Fax

Mobile
E-mail

3. Employer Details
Name of the
current Employer
Address Line 1
13

Line 2
Line 3
Telephone No.
Fax

E-mail

4. India Fellowship Seminar:

Please mention the dates on which attended and enclose
evidence.
5. Student Category Member to mention details of all the subjects passed, exam Diet wise
and also particulars of exemptions, if any, granted
Subject

Exam Diet

Name of
Institution

Exemption, if
any granted

6. Work Based Experience :Period

Employer Place

Position
Held

Brief description of nature

of work

7. State membership Number, if present or past member of the Institute.

8. If you are a member of any other professional body in India or elsewhere, provide details
of disciplinary action, if any, taken in the past or currently under consideration.
Notes :
1. Attach letter from the Employer/s
2. For Affiliate applicants Letter/s from Employer/s establishing resident work experience in
India

Declaration
I hereby apply for admission as a Fellow member of the Institute of Actuaries of India. I hereby declare
that I am not subject to any of the disqualifications stated in Section 11 of the Actuaries Act, 2006.
I further understand that the decision of the Council of the Institute of Actuaries of India on this
application shall be final and binding on me.

14

Date
Place
Signature

For Office Use Only

Receipt No:
Date:
Amount:
Admitted by the Council at its meeting / circular resolution:

15

Schedule E - Application form for admission as a student Form A

APPLICATION FORM FOR STUDENT MEMBERSHIP

Note: Before completing this form the applicant should study the Instructions and Information given
below. The completed form should be lodged with the Institute at the below mentioned address only.
Affix Your
Photograph
302, Indian Globe Chambers, 142, Fort Street, Off D N Road,
here
Near CST (VT) Station, Mumbai 400001
Tel: 67843333 Ext. 301, Fax: 678443330
E-mail: education@actuariesindia.org
Admission fees for student membership is as under:
Total Admission Fees (inclusive of Subscription Fees) up to 31st March 2014

Rs. 1500/-

Note:
a) Please send the fee by demand draft/pay order in favor of 'Institute of Actuaries of India
payable at Mumbai. Demand Draft should not be stapled but attached with a U pin.
b) During the Financial Year i.e. April to March, whenever the admission is taken, the subscription
will be applicable only for that financial year e.g.:- For admission taken on 2nd March 2013
subscription will be valid till 31st March 2013. The subscription for 2013-2014 will be due on 1st
April 2013. For further details kindly contact Ms. Vijaya Bhosale at actsoc@actuariesindia.org
c) If you wish to appear for November 2013 exam diet, the Institute should receive this form duly
filled by 10th July 2013. Membership forms received after this date will be eligible to appear for
subsequent exam diets and NOT the November 2013 exam diet.

16

This form must be completed in full. Failure to do so will result in your form being returned.
Please use BLOCK CAPITAL and black ink when filling in this form.

Section 1 Application Details

ACET Application Number:
e.g.: IAIEE-DEC12-2067

Title:

Mr.

Mrs.

Miss

Dr.

Other

Please specify:

_________

Surname:
First Name:
Middle Name:
Short Name:
Father Name/ Husband Name:
Mothers Name:
Date of Birth:
D D M M Y Y Y Y
Nationality:

Failure to provide the correct correspondence address, telephone number and e-mail address, in
clear handwriting, will result in the applicant not receiving information about their application
form and forthcoming examination. So following information is Mandatory.

RESIDENTIAL ADDRESS

Name

STD Code

Address

Tel. No.
Mob No.
Pin Code

City

State

Country
17

PERMANENT ADDRESS

Name

STD Code

Address

Tel. No.
Mob No.
Pin Code

City

State

Country

EMPLOYERS DETAILS, if employed.

Name

STD Code

Address

Tel. No.
Fax No.
Pin Code

City

State

Country

Employer Code: ________________________ Employee Designation: __________________

E-mail ID : ___________________________________________________________________
(Alternate Email ID) ___________________________________________________________
Note: All the communication from IAI would be through email and hence it is essential that you mention your email id

Please indicate which address you would like all correspondence send to:
Office:

Residence:

Permanent Address:

Are you a member of any other actuarial association? If so, please give the following
information.
Name of the

Membership No.

Membership Class

Details of subject
18

Institute

passed

19

Section 2 Criteria for becoming Student Member

A person is eligible for admission if he/she satisfies the following condition:
3) Resident in India (irrespective of nationality of the applicant)
a) Passed ACET Exam (or)
b) A student member from any of the following actuarial bodies provided at least one subject
has been passed from these bodies (not on exemption basis)
i) Institute and Faculty of Actuaries, UK
ii) Institute of Actuaries of Australia
iii) Society of Actuaries, USA
iv) Casualty Actuarial Society, USA
4) Applicants of countries other than India should satisfy any one of the following criteria;
i)
ii)

Passed 10+2(H.S.C) or equivalent with at least 85% in Mathematics/Statistics

Graduate or Post Graduate with Mathematical subjects. For this purpose
following subjects constitute mathematical subjects:
a) Mathematics or any of its branches
b) Statistics or any one of its sub classifications such as Mathematical Statistics and
Applied Statistics
c) Econometrics
d) Computer Science
e) Any discipline of Engineering
f) Subject in Science Such as Physics or its branches
The admission under these groups will, however be subject to the following conditions:
i) The total marks secured in the subject coming under the clarification of
mathematical subjects taken together in all the years of the Degree course not less
than 55%
ii) The content of Mathematical subjects content in all the years of the course taken
together is not less than 50% of the total content

iii)

Fully qualified members of the following bodies in their respective countries

a. Institute of Chartered Accountants
b. Institute of Cost and Work Accountants

iv)

A student member from the following actuarial bodies provided at least one subject has
been passed from the bodies (not on exemption basis)
a) Institute and Faculty of Actuaries, UK
b) Institute of Actuaries of Australia
c) Society of Actuaries, USA
20

d) Casualty Actuarial Society, USA

Please note that medium of instruction in final state of examination based on which admission is sought
should be English.

Section 3 Documents to be submitted

The documents which are required to be submitted along with Admission Application form;
Sr. Category under which
Attested Photocopies Required
No application is made
Resident in India (irrespective of nationality of the applicant)
1)

ACET

2)

-Institute and Faculty of

Actuaries UK,

1) Photocopy of your ACET application and

result highlighting your name.
2) HSC (10+2) Mark sheet and Passing
Certificate and Proof of English as one of
the subject
Certificate of Passing of any 1 subject along
with the proof of membership

- Society of Actuaries, US
- Institute of Actuaries of
Australia
- Casualty Actuarial Society,
US
3)

Applicable educational
qualification

Mark-sheet & Passing Certificate and Proof

of English as one of the subject

Compulsory Documents for all categories of membership

4)

Proof of Age

Birth Certificate / School Leaving Certificate

containing date of birth

5)

Passport Size Recent

Photographs

Two

6)

Change in Name

If there is change in name then documentary

evidence such as marriage certificate,
Affidavit is required for the same.

Optional Documents for all categories of membership

1)

HSC(10+2)

Marksheet and Passing Certificate

2)

Graduation

Marksheet and Passing Certificate of all

years/semesters.

3)

Post Graduation

Marksheet and Passing Certificate of all

years/semesters.
21

4)

Professional Qualification

Proof of Membership and Marksheet and

Passing Certificate.

Resident outside India

1)

HSC(10+2)

Marksheet and Passing

2)

Graduation

Marksheet and Passing Certificate of all

years/semesters.

3)

Post Graduation

Marksheet and Passing Certificate of all

years/semesters.

4)

Fully Qualified Members of

Institute of Chartered
Accountants and Institute of
Cost and Work Accountants

Proof of Membership and Marksheet and

Passing Certificate.

5)

-Institute and Faculty of

Actuaries UK,

Certificate of Passing of any 1 subject along

with the proof of membership

- Society of Actuaries, US
- Institute of Actuaries of
Australia
- Casualty Actuarial Society,
US
Note.

Attestation should be done by class one officer in government/semi government organization

or professionals, like C.A., ICWA, Gazzetted Officer, Notary, Actuary, Bank Manager,
National Insurance Academy (NIA) Director etc. Professionals should mention their Institutes
Membership number and affix their stamp. Attestation done by relatives is not valid.

Section: 4 Method of Payment

DD / Pay Order No. : ___________________

Dated

: _____________

Drawn on : ___________________________

Amount : _________________

Section 5: - Declaration to be Signed by Applicant

I apply for admission as a Student Member of Institute of Actuaries of India. If my application is
approved I agree to confirm to the Rules and Professional Conduct Standards of the Institute as they
currently exist or as they may in future be altered, amended or enlarged, and I will promote the
objectives of the Institute to the best of my ability. I understand that to withdraw from membership I
must inform the Institute of my resignation and that after payment of any arrears, return of books, papers
or other property of the Institute, I will be free from these obligations. I further declare that I have not
applied earlier to the Institute for admission as a member. Note : In case the applicant has earlier
22

applied for admission as a member, the details of same should be furnished including whether
such admission was granted or denied.
Name (BLOCK LETTERS)
Signature .
Date .

Place

Before signing this declaration you are advised to read the Rules & Regulations of the Institute, which is
available on our Website, www.actuariesindia.org. Hard copies are available at IAI Office.

Section: 6 - Checklist
Please complete and assign the following.
I have enclosed:

certified copies of all educational / professional

certificate (with English as one of the subjects)
Proof of Date of Birth

a)
b)

Enclosed the DD / Pay Order towards payment of

Admission fees.
Signed and dated the applicants declaration.

Please sign within box with black ink.

Signed:

Date: ________________________________

FOR OFFICE USE ONLY

23

Receipt No.

Date:

Amount

_____________________________________

Date of Admission

_____________________________________

Membership No.

_____________________________________

Initial

_____________________________________

24

Schedule F Application form for admission as an Affiliate Form C

Application form for an Affiliate member of the Institute of Actuaries of India
Note 1
2
3
4

Photograph
please
affix latest
one

Please use block capitals

Please initial each page
Please submit a copy of your qualification certificate duly attested
along with this application
Please furnish details regarding current status of your membership with the parent
body and also request parent body to furnish details of any disciplinary matter of
relevance, if any.

Name
Surname
First Name
Middle Name

Name for communication

Father's/Husband's Name

Date of Birth

DD

MM
YYYY

3 Communication Address
Address Line 1
Line 2
Line 3
Pin code
Telephone No.
Fax
E-mail
4. Name and address of the Employer [If employed]
Name of the Employer
Address Line 1
Line 2
Line 3
25

Designation of the member

Telephone No.
Fax
E-mail

Details of Academic and Actuarial qualifications obtained with dates and particulars of
membership of other actuarial professional bodies.
(a) Academic Qualification
Name of the Institution
Qualification/designation

(b) Actuarial Qualifications

Name of the Actuarial
Qualification/designation
Professional body
1. Institute of Actuaries of India
2. Institute/Faculty of
Actuaries, UK.
3.Institue of Actuaries, USA
4. Institute of Actuaries of
Australia
5. Others (specify) and please
give year in which examination
passed, equivalent to
Fellowship of Institute of
Actuaries of India.

Year of passing

Year of admission

6. State membership number, if past member of the Institute

6. If you are a member of any professional body in India or elsewhere, provide details of
disciplinary action, if any, taken in the past or currently under consideration.

I hereby apply for admission as an Affiliate member of the Institute of Actuaries of India.
1.
I have not at anytime been convicted of an offence (other than violation of an Road Traffic
Laws) by any count of jurisdiction in India or elsewhere.

26

2.
Either in India or elsewhere been censured, disciplined or publicly criticized by any professional
body to which I belong or belonged or been dismissed from any office or employment or refused
entry to any profession or occupation.
I further understand that the decision of the Council of the Institute of Actuaries of India on this
application shall be final and binding on me.
I also further understand that Fellow membership of the Actuarial body based on which this application
is being made shall be kept in force as long as any Affiliate Membership is in force, in terms of the
Rules governing such membership and such member shall automatically cease on cessation of the
Fellowship for whatsoever reasons.

Declaration
I hereby apply for admission as an Affiliate member of the Institute of Actuaries of India.
I hereby declare that I am not subject to any of the disqualifications stated in section 11 of the Actuaries
Act, 2006.
I further understand that the decision of the Council of the Institute of Actuaries of India on this
application shall be final and binding on me.

Signature

Date

Place

DECLARTION TO BE SIGNED BY REFEREES

Please use block letters:
1.

All applicants are requested to have their application form signed by

two fellow of either the Faculty of Actuaries or the Institute of
Actuaries or Institute of Actuaries of India. Members of the applicants
own family cannot be accepted as referees.

2.

The applicant should so far as can be judged by the referees, be a

person suitable for membership of a professional body who could be
relied upon to maintain the standards of the Faculty and Institute.

I know the applicant and, to the best of my knowledge and belief, consider
him/her to be a fit and proper person to be an Affiliate of Institute of Actuaries of
India.

27

Signed:

Date:

Name:
Address:

__
__

I know the applicant and, to the best of my knowledge and belief, consider
him/her to be a fit and proper person to be an Affiliate of Institute of Actuaries of
India.

Signed:
Name:
Address:

Date:
__
__

28

Schedule G Certificate of Membership (Associate) Form H

INSTITUTE OF ACTUARIES OF INDIA
(Emblem)
Membership No
This is to certify that .of was admitted as an Associate of the Institute of Actuaries of
India on the day of 20
Given under the Common Seal of the Institute of Actuaries of India, this ..day of
20
(Seal)
President

Executive Director

29

Schedule H Certificate of Membership (Fellow) Form I

INSTITUTE OF ACTUARIES OF INDIA
(Emblem)
Membership No
This is to certify that .of was admitted as a Fellow of the Institute of Actuaries of India
on the day of 20
Given under the Common Seal of the Institute of Actuaries of India, this ..day of
20
(Seal)
President
Executive Director

30

Schedule H Examination application form Form E

May 2013: Examinations Application Form

This form must be returned by 17.00 (IST): Saturday 09 March
2013
This form must be returned to: Examinations Team, Institute of Actuaries of India, 302, Indian Globe Chambers, 142, Fort
Street, Off D.N. Road, Mumbai 400001.Board line: +91 22 67843333 Email:Nirmala@actuariesindia.org

Note:
1. Only one application form will be accepted from a candidate. All sections are compulsory. Incomplete form
will be rejected.
3. Please clearly print all the required details in the space provided. Forms containing invalid
information, received after the closing date or submitted without a valid payment method cannot be
processed.
4. Kindly ensure that your membership subscription is renewed for year 2012-13 before applying.
5. Kindly ensure that you have purchased the study material for the subject/s you are appearing as it is
mandatory.
6. Do not return the exam instructions with this form as they are provided for your reference.

Candidate Name
(BLOCK
Membership No
Date of Birth
CAPITALS):
(Compulsory)
Telephone Number
(with STD Code)
Address: Details of Communication only for the purpose of Examination

City

State

Pin Code

Email:

Examination Center:
Please tick [] the centre in which you wish to sit. Ticking on more than one centre will be considered
invalid;
Centre
Dhaka
UK

Code
36
66
39

Centre
Colombo
Dubai

Code
37
40

Centre
Mauritius

Code
38

31

Exam Details:

Please indicate, with a [], which exams you wish to sit this session. You can sit for
maximum of three subjects. Kindly mention study material purchase receipt number for the
subject you wish to sit.
Exam
CT
1
CT
2
CT
3
CT
4
CT
5
CT
6
CT
7
CT
8
CA1

Study
material
purchase Receipt
No

ST1
ST2

Payment detail:
Exa
Amount
m
Paymen
t details

Exam
Fee
Rs. 2000
Rs. 2000
Rs. 2000
Rs. 2000
Rs. 2000
Rs. 2000
Rs. 2000
Rs. 2000
Rs. 6000
Rs. 3200
Rs. 3200

Demand Draft
No.

Exam
ST4
ST5

Study
material
purchase Receipt
No

ST6
ST7
ST8
SA1
SA2
SA3
SA4
SA5
SA6

Name of the Bank

Exam
Fee
Rs. 3200
Rs. 3200
Rs. 3200
Rs. 3200
Rs. 3200
Rs. 4000
Rs. 4000
Rs. 4000
Rs. 4000
Rs. 4000
Rs. 4000

Dated

I have read, understood and agree to be bound by the examinations Rules and Regulations and
also the Professional Conduct Standards, as in force from time to time (please tick box to agree)
In submitting this form I confirm I have read and understood the examination policies, regulations and
notes
issued. Submission of this form allows the Institute of Actuaries of India to publish the names of
successful candidates.
Candidate Signature:
Date:

32

Instructions for Candidates

[Please do not send this instruction along with exam form as they are provided for your reference]
1. Mode of Payment: Demand Draft (DD)
a) DD should be drawn in favour of Institute of Actuaries of India payable at
Mumbai.
b)
Candidates are requested to send DD for Examination fees, Study material fees &
Subscription fees
SEPARATELY.
c) Please write at the backside of DD: Member ID, Your Name, Contact no, Exam Fee for
May 2013 Exam & Subject Code.
d) Please check if DD has been duly signed by bank authorities & it is of requisite amount.
DD bounce charges would be Rs 500/e) DD sent directly through bank or otherwise without duly filled examination form will
not be accepted.
f) Demand Draft and Photograph should not be stapled but attached with U
pin.
2. Membership subscription:
Candidates who have paid subscription for year 2012-2013 (i.e. April 2012 March 2013)
will only be permitted to appear for the Examination. Hence, this should be remitted to
subscription department (if not already paid) with a penalty of 50% of subscription fee
along with duly filled subscription application form. Current Subscription rates are us under:
Category
Student
Associate

Resident in India and for SAARC Countries (INR)

Rs. 500/Rs. 1000/-

In case subscription is unpaid for more than one year or any further queries related to
subscription, kindly contact Ms Vijaya at 67843302 or actsoc@actuariesindia.org (Note:
Payment made in USD must also include additional $10 (per DD) towards Bank charges.)
3. POINTS TO NOTE:
a. Application should be in the prescribed Form
only.
b. Last date of receipt of application is 09th March, 2013
c. Last date for receipt of application with late fees of 25% is 18th March,
2013
d. Please allow at least 10 working days for your mailed application to reach its destination.
It is the candidates responsibility to ensure that the application and fee are received
by the stated deadline. Exceptions will not be made.
e. Hall Ticket having candidates roll number, date of examination and address of examination
centre will be available in the candidates login ID by 20th April, 2013. In case you are not
able to download the hall ticket or have any query relating to examination, kindly contact
Nirmala by e-mail at: nirmala@actuariesindia.org . Your email will be replied in 24 hours
(during office working days)

33

f.
A candidate can appear only from one centre. Ticking on more than one centre will be
considered
invalid and the exam application form will be rejected.
g.
Institute has issued Photo Identity Card last year to all students including Associate
Members. This is a compulsory Identification for attendance. Kindly carry the same during
the examination. If you have not received the same, kindly contact Ms. Bhakti Bait at
courier@actuariesindia.org or 022-67843305.

Timetable May 2013 Examination

Monday 20th Thursday 30th May 2013
FORENOON
Subject

Date & Day

20/05/2013
Monday

CT3 Probability & Mathematical Statistics

21/05/2013 CT6 Statistical Methods

Tuesday
22/05/2013 CT4 Models
Wednesday
23/05/2013 CT2 Finance and Financial Reporting
Thursday
24/05/2013 CT7 Business Economics
Friday
27/05/2013 CT1 Financial Mathematics
Monday

28/05/2013 CT5 General Insurance, Life and

Health Contingencies
Tuesday
29/05/2013 CT8 Financial Economics
Wednesday
30/05/2013 ST6 Finance and Investment B
Thursday

From

To

AFTERNOON
Subject
From

To

10.00 13.00
Hrs.

CA1 Actuarial Risk Management

(Paper I)

14.45* - 18.00 Hrs.

10.00 13.00
Hrs.
10.00 13.00
Hrs.
10.00 13.00
Hrs.
10.00 13.00
Hrs.

CA1 Actuarial Risk Management

(Paper II)

14.45* - 18.00 Hrs.

ST7 General Insurance : Reserving

& Capital Modelling

14.45* - 18.00 Hrs.

ST2 Life Insurance

14.45* - 18.00 Hrs.

ST4 Pensions &Other

Employee Benefits

14.45* - 18.00 Hrs.

10.00 13.00 Hrs.

SA1 Health and Care Insurance

SA2 Life Insurance
SA3 General Insurance
SA4 Pensions & Other Employee
Benefits
SA5 Finance
SA6 Investment
ST1 Health and Care Insurance

14.45* - 18.00 Hrs.

14.45* - 18.00 Hrs.
14.45* - 18.00 Hrs.
14.45* - 18.00 Hrs.

ST5 Finance and Investment A

14.45* - 18.00 Hrs.

ST8 General Insurance : Pricing

14.45* - 18.00 Hrs.

10.00 13.00
Hrs.
10.00 13.00
Hrs.
9.45* 13.00
Hrs.

14.45* - 18.00 Hrs.

14.45* - 18.00 Hrs.
14.45* - 18.00 Hrs.

34

302, INDIAN GLOBE CHAMBERS, 142 FORT STREET, FORT, MUMBAI-400001

May 2013 Examination Hall Ticket

Name:
Member Id:
Center Code:
Center Name:
Center Address:
Center Coordinator:

IAI25
Kochi
Arena Animation Academy,2nd Floor,Emirates Building, Opp. Citi Bank,Padma
Junction,M.G.Road,Kochi-35. Tel:0484-4021422/09846950001.
Ms.Archana

==================================================================================

Subject

Roll No

CA1

25220001

Exam Date & Time

Paper 1 - 20 May 2013, 14:45-18:00 Hrs
Paper 2 - 21 May 2013 14:45-18:00 Hrs

IMPORTANT INSTRUCTIONS TO EXAMINEES:Candidates must read the following instructions carefully for strict compliance. Infringement of any of these
instructions will render the candidates liable for disciplinary action which may lead to cancellation of results of
the examination and / or membership registration.
1.

Please produce the Hall ticket with Photo Identity card issued by the Institute to the centre
supervisor at the time of Examination.
2. Candidates are required to bring Actuarial Table for the examination, wherever required.
However, it should not contain any pen/pencil marking.
3. "Attendance Certificate", if required, may be obtained from Local Supervisor.
4. Candidates will be allowed to enter the Examination Hall 15 minutes before the time specified for
the commencement of the examination. Candidates should be seated 10 minutes before the start of
each paper at the correct desk according to the roll no. printed on their Hall Ticket. The
superintendent and the invigilators have been advised to verify the identity of each candidate at the
time of entry into the examination hall. Each candidate should, therefore, show his / her Hall Ticket
and identity card to the invigilator/ supervisory staff before entering into the examination hall.
5. No Candidate shall be allowed to enter into the Examination Hall after the expiry of 30 minutes of
the commencement of examination
6. No candidate should leave or will be allowed to leave the Examination Hall:
a. Within 30 minutes of commencement of examination
b. During last 15 minutes of the examination timing
c. Without signing the attendance sheet
d. Without properly handing over his/her Question Paper and answer booklet to the Invigilator.
7. No candidate shall bring with him/ her into the Examination Hall or carry on his / her person, any
paper, book (except actuarial table), handwritten or printed notes, mobile phone, pager, digital diary
or any other communication device or material whether or not it has any relevance to examination,
nor shall he / she communicate with any candidate by any other means in the Examination Hall or
Examination Centre premises when the examination is in progress.
8. Candidates are required to write answers to Question Papers in their own handwriting with pen/ ballpoint pen in either of blue or black ink not both and in no other colour ink. Writing answers with red
or green ink is prohibited. Accordingly, candidates are advised to bring their own pen, pencil, scale,
ink pot and calculator for their use.
9. Candidates shall be allowed to use Electronic Calculators provided they do not have the memory that
can retain text or formulae previously keyed in. Irrespective of the use of calculator, candidates are
advised to invariably show all important steps and working notes relating to solutions of practical
problems along with their answers. Rough work done should be marked as "ROUGH WORK for
Questions No...." and scored off by drawing a line across the written material. Rough work could be
done on the back side of the ruled sheet. Exchange of calculators or any other item / material shall
not be permitted in the Examination Hall.
10. On receipt of the answer booklet, first of all, every candidate must write his / her Roll number
in the bottom right corner of the answer booklet. The total number of pages used should be
mentioned on the first page of the answer sheet. You need to ensure that the invigilator has
signed on the first page of your answer booklet and any other extra sheet taken by you for

35

11.

12.

13.

14.

15.

16.

17.

18.

19.

20.
21.

writing the examination. Further, every candidate is expected to satisfy himself/ herself that he
/ she has received correct and complete question paper and verify it with reference to the
Examination Time - Table and Programme, and see that the total number of questions and
printed pages are in order.
Candidates are warned that writing of any matter on Question Paper, Hall Ticket, Identity Card,
Scale , etc. , or taking any paper (s) from the Examination Hall shall be viewed seriously and entail
disciplinary action.
Candidates must not write any irrelevant matter, criticism of question paper, any sort of appeal to
examiners, salutation or invocation to God, etc., anywhere in the answer sheet/s. This will invite
disciplinary action.
Candidates should write answers only on ruled sides of the answer sheet/s. In order to avoid wastage
and possibility of misuse, candidates will be issued additional answer sheets only on demand after
they have completely used the answer booklet provided to them initially at the start of the
examination. Any attempt to tamper with the answer booklet shall tantamount to misconduct.
Each question should be started on a fresh page and sub - question (s) of the same question should be
attempted in a consecutive order. While attempting a fresh question or sub - question, the candidate
must clearly and prominently mention respective question number before the answer, in bold capital
letters.
Candidates are expected to write precise and to - the - point answers to the questions in neat and
legible handwriting. Candidates are advised that a reasonable standard of handwriting legibility is
expected by the examiners and that candidates may be penalized if undue effort is required by the
examiners to interpret scripts.
No candidate shall, without the specific permission of the Superintendent / Invigilator, leave his / her
seat in the Examination Hall during the course of examination.On completion of examination or
expiry of the prescribed examination timing, the answer booklet and question paper must be
handed over immediately to the Invigilator on duty separately
It shall be the personal responsibility of the candidate concerned to properly hand over his / her
answer booklet even if blank, to the Invigilator concerned on duty in the Examination Hall. Any
representation regarding omission to surrender the written answer booklet or part thereof in the
Examination Hall at the time of handing over his / her Answer Booklet, for any reason whatsoever,
shall not be entertained after the examination in that paper is over.
It is brought to your notice that in accordance with provisions contained in the Professional Conduct
Standards, if any candidate is found copying or involved in any other form of malpractice, during or
in connection with the examination, disciplinary action will be taken against the candidate which
may include expulsion or suspension from the membership of IAI also
The candidates appearing for CA, ST and SA series examination will be given 15 minutes at
the start of the examination for reading Question Paper. The candidates are strongly
encouraged to use this time for reading only, but notes may be made. The candidates then have
three hours to complete the paper. They should not start writing the answers in the answer
booklet before the start of the examination.
Students are requested to carry their own water bottles in the Examination Hall.
The Candidates are advised to email Ms. Gauri Totla at gauri@actuariesindia.org for the issues
relating to the examination. Queries which are received within 15 days of completion of examination
will only be entertained.

SMOKING, CHEWING OF TOBACCO, BETEL, INTOXICANT, CARRYING OF MOBILE PHONE,

ETC., IS STRICTLY PROHIBITED INSIDE THE EXAMINATION HALL.

36

Schedule I Form of application for the issuance / renewal of a Certificate of Practice

Form J
To
The Executive Director
The Institute of Actuaries of India
Dear Sir,
1. I am enclosing/have already sent a cheque/draft No. dated..for Rs..towards the
fees for the year.as per details given below:2. I request that the Certificate of Practice may be issued / renewed at an early date.

Place:
Date:
Yours faithfully
Signature
Membership Number

37

Schedule J Certificate of Practice(Fellow) Form K

INSTITUTE OF ACTUARIES OF INDIA
(Emblem)
Membership No

This is to certify that .FIAI of is entitled to practise as an Actuary.

This certificate is issued subject to the provisions of the Institute of Actuaries of India ( Examination and
Training, Manner of Making an Application, Fees Payable, Manner of Choosing Honorary Members, Terms and
Conditions for Admission of Affiliate Member, Academic Qualifications for Admission of a Student Member
and Qualifications Required For a
Certificate of Practice) Regulations, 2007 or modifications and/or
amendments thereof. The certificate shall be effective from day of.20 until day
of 20.
Given under the Common Seal of the Institute of Actuaries of India, this ..day of 20
(Seal)
President
Executive Director

38