The New Zealand Society of Actuaries does not offer its own education programme, therefore our students study through overseas professional bodies. The most common qualifications are through the Actuaries Institute (Australia) and the Institute and Faculty of Actuaries (UK), but there are qualifications recognised from other associations as well.
On average, it takes around six to eight years to complete your actuarial qualifications. If you have studied a quantitative subject at a high level, you may be eligible for one or more exemptions to shorten the time to qualify.
Please contact us if you need any further information.
Choosing an Education Provider:
Things to think about when choosing your actuarial education provider:
- Employer’s Preference. You may want to check what your employers’ preference is particularly if they are paying for the exams
- Time of day; and time of year exams are scheduled for. For example, some UK exams take place at UK time which might be midnight in NZ.
- Where you might want to live in the future. The Australian market environment and legislation is more similar to New Zealand’s. UK exams may be better suited to the European market.
Please note, the Australian foundation programme involves sitting the same exams as the UK Institute, allowing easy transfer between these bodies during the first stage. Transferring however may incur a financial cost.
If you have been studying actuarial exams and you are not sure if you’ve reached the Associate or Fellowship milestone, go to the entry requirements for Associates and Fellows through qualification.
New Zealand Tertiary Institutes:
Victoria University of Wellington offers a major in Actuarial Science. Visit their website for more information.
The route to qualification will depend on which Institute you choose to qualify through. You can visit the Actuaries Institute (Australia) and the Institute and Faculty of Actuaries (UK) for more information
There are exemptions certain subjects can be gained if a student can demonstrate that they have learned the content elsewhere. More information about exemptions is available from the Actuarial Institute you choose to write your exams through.
Certified Actuarial Analyst (CAA)
The CAA is an international professional qualification offered by CAA Global, a joint venture training organisation set up by the Institute and Faculty of Actuaries (UK) and the Society of Actuaries (USA).
It provides training, qualification by examination, and ongoing professional development to technical analysts. The CAA qualification is a shorter, easier course of study which does not meet the requirements to qualify as an “Actuary” in New Zealand.
The NZ Society of Actuaries is not associated with the CAA qualification and does not provide training or support for CAA candidates or charterholders. See the CAA Global website or the Institute and Faculty of Actuaries website for more information.