Getting CIA Exam Exemptions Using U of R Classes

Based on the current 2014-5 Academic Year, the following U of R classes and minimum grades are required for exemption.

• Exam FM requires ACSC116 and ACSC216 with grades of at least 80% in each
• Exam MFE requires ACSC316 with a minimum grade of 80%
• Exam MLC requiresACSC217, ACSC317, ACSC456 with minimum grades of 75% in each
• CAS Exam 3L/LC requires ACSC217, ACSC317, ACSC456 with minimum grades of 75% in each
• Exam C requires ACSC318, ACSC419, ACSC417 and ACSC456 with minimum grades of 75% in each.

For most exams, the same mapping exists for other Academic Years but there are some differences.  The historical mappings can be found on the CIA's website.

Applying for CIA Exemption from Preliminary Exams

I have had a number of inquiries regarding the process for getting CIA exemptions from these exams.  The procedure is laid out on the CIA's website using the 

links:

• Information for Students

• Granting Exemptions

• Application Form

• Transition Rules

I have also copied and pasted from the CIA's site to give an overview of the process

Granting Exemptions

The CIA will grant exemptions to students from writing the specified Society of Actuaries (SOA)/Casualty Actuarial Society (CAS) exams towards achieving Associateship or Fellowship in the CIA. Students will, upon completion of the required courses, and upon obtaining official university course transcripts, apply to the CIA by the deadlines as determined by the CIA from time to time with the following:

• The Application Form for Exemptions;
• Grade transcripts for completed courses; and
• The exemption fee (80 percent of the corresponding professional exam fee).

Students who receive exemptions based on education received at a university which fails to maintain either full or provisional status and loses its accreditation shall not lose the exemptions received during the period that the university held provisional or full accreditation status.

The CIA will grant student exemptions based on the achievement of the Exemption Grade towards Associateship (ACIA) and Fellowship (FCIA) in the CIA. The CIA does not guarantee that exemptions granted to students under the CIA University Accreditation Program (UAP) will be recognized by other actuarial organizations towards other actuarial designations.

Exemptions fees

CIA exemption fees are based upon 80% of the corresponding published exam fees of the SOA/CAS*. 

Exam	Full-time student		Candidate
	Exam Fee	Exemption Fee	Exam Fee	Exemption Fee
FM/2	$200	$160	$200	$160
MFE/3F	$260	$208	$325	$260
MLC	$260	$208	$325	$260
3L/LC**	$260	$208	$325	$260
C4	$300	$240	$375	$300

* Current as of September 2012.

**Transition Rules
- 3L: granted for courses taken up to August 2014 (Note: the CAS will automatically convert 3L exemption to LC exemption)
- LC: granted for courses taken beginning September 2014