Student and Associate terms and conditions

Student and Associate members: your relationship with the IFoA

To be clearer and more transparent about the service we provide and how we engage with you, we have consolidated the terms and conditions which apply to Student and Associate members.

We have brought together all the terms and conditions which currently apply to Student and Associate members in one place and have simplified the language that we use.

These Student and Associate terms and conditions will apply from 1 September 2021 for new joiners, and upon renewal of your membership subscription later this year for existing members.

What do these terms and conditions mean for me?

These terms and conditions govern your relationship with the IFoA. They explain the levels of service you can expect from us and what we expect from you in return.

The General terms apply to all Student and Associate members and cover your membership with the IFoA.  The Assessment terms apply to Student and Associate members when you are participating in IFoA assessments (examinations). 

We have briefly summarised the Student and Associate terms and conditions below. 

Our commitments to you:

General terms and conditions:

1. You will enjoy the status of IFoA membership, with the full range of benefits that membership confers. 
2. We will provide you with market-leading opportunities to further your actuarial learning and to obtain globally recognised qualifications. While we cannot guarantee success, we will do all we can to support you in your professional journey.
3. We will be clear and open with you about your membership fees and when or how they may change.
4. If we get something wrong, we will listen to you and do our best to put things right, fairly and promptly. We will compensate you for any reasonable loss we have caused you.
5. We will handle your data carefully, in accordance with our Privacy policy.
6. We will always aim to engage with you openly and respectfully.

Assessment (examinations):

1. We will ensure our curriculum is kept up-to-date and relevant.
2. We will explain assessment requirements clearly in the Qualification Handbook, which we will keep updated.
3. When we need to update our curriculum, we will aim to give you 12 months’ notice of changes to the compulsory elements before we implement them.  We will also clearly explain to you what any changes mean for your journey to qualification as an Associate or Fellow.
4. If we have to make changes to the Assessment Regulations or other IFoA assessment guidance documents, we will aim to give you at least three months’ notice. 
5. We will be clear and open with you about:
   
   1. our assessment fees and when or how they may change, and
   2. when you will receive any appropriate refund of assessment fees.
6. We will try our best to accommodate any request to change your assessment sitting, such as the date or time, while the exam registration period is still open.  Depending on the change requested, we may charge a reasonable fee.  We may not be able to accept changes to an existing booking outside of the exam registration period.
7. If you cancel, we will issue an appropriate refund promptly in accordance with our Refunds policy.
8. If we need to change the date or time of an assessment, we will give you as much notice as possible.  We will refund you 100% of the assessment fee if the new date is not convenient for you.

Your commitments to us

You agree to:

1. Comply with the Actuaries’ Code and other IFoA regulatory requirements.
2. If you are sitting our examinations, behave professionally and with integrity and comply with the Assessment Regulations.
3. Let us know if your situation changes, for example, if you are no longer eligible to pay reduced rate subscription. 
4. Be respectful to us and to the profession.

Ending our relationship

We hope that you won’t wish to, but you are free to end our relationship**, at any point. If you decide to return, you will be welcomed back, subject to the applicable reinstatement terms.

We may only end our relationship in the following circumstances;-

1. You do not pay (without good reason) your subscription fee by the deadline;
2. You do not fulfil your commitments under the Student and Associate terms and conditions; or
3. If there is a finding of misconduct against you under the Disciplinary and Capacity for Membership Schemes.

**The Disciplinary and Capacity for Membership Schemes may still apply in relation to circumstances arising before termination of your membership.