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. These are set out on the Becoming a Member page.
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.
Choosing an Education Provider
Things to think about when choosing your actuarial education provider:
- 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.
- Employer’s Preference. You may want to check what your employers’ preference is particularly if they are paying for the exams.
- Note that it is possible to change to another institute at any time. Australia and UK use the same stage 1 papers so you won’t have to re-do this stage if you transfer.