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Side by Side Comparision

IAI, India IFOA, UK
Value Same Same
Eligibility

How to take
Membership
12th Pass followed by
Entrance Exam (ACET)
based on 12th Maths & Statistics,
online objective paper conducted twice a year (May/November)
Direct membership
if student have
80% in 12th Maths or
55% marks in Graduation (Maths or Stats)
55% marks in MBA (Finance)

Non Membership
If student fail the above criteria then Students have to give non membership exam (CT-1)
Membership Fees Rs. 2000 £200 (approx 21,000 in Indian rupees)
Examination Fees Rs. 2500 per paper (CT Series) £110 per paper (CT Series)
Entrance Exam Fees Rs. 3000 (ACET) £130 (Non membership exam CT-1)
Study Material Compulsory
(Either Rs.2500 for Soft Copy
Or Rs. 4500 for Hard Copy)
Not Compulsory
Renewal Fees Rs.750 ( Renewal in June) £70 (Renewal in October)
Total No. Of Papers 15 15
No. of Exam
one can give
in One Attempt
3 3
Exemption Exams are exempted in UK Exams are exempted in India,
as well as other International Societies
Exam Time April / September April / September
*Above comparison is for information purpose only. Though every precaution has been taken for correctness, the interpretation may differ and may be out of date. Please refer to official website for latest information.
Bottomline
One can be member of both of these actuarial bodies at the same time. IAI & IFOA follow same syllabus, material and patterns for exams which allow to avail exemption benefits. i.e. if one has cleared a particular exam from the one Actuarial body then there is no need for you to clear it with another Actuarial body. It helps you clear the course sooner.

Even if you take membership from UK, all your exams are conducted in various cities of India only.
IAI, India
Institute of Actuaries of India (IAI) is a statutory body for regulation of profession of Actuaries in India.

IAI conducts Fellowship level examination leading to professional qualification of an Actuary.

Follow more on IAI Official Website
IFA, UK
The Institute and Faculty of Actuaries (IFA) is the chartered professional body for Actuaries in the UK.

Follow more on IFA Official Website

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