Qualification Examination

The qualification examination is composed of the primary examination (basic subjects) and the secondary examination (advanced subjects) as follows:

(i) The Primary Examination

The purpose of the primary examination is to judge whether or not an applicant has sufficient knowledge to take the secondary examination. There are following 5 basic subjects; "Mathematics", "Life Insurance Mathematics" "Non-Life Insurance Mathematics", "Pension Mathematics" and "Accounting, Economics and Investment Theory".

(ii) The Secondary Examination

The purpose of the secondary examination is to judge whether or not an applicant has the professional knowledge and problem-solving ability necessary to do actuarial practices. There are 3 courses for the secondary Examination from which the applicant should choose one; Life Insurance Course, the Non-Life Insurance Course and the Pension Course. For each course, 2 advanced subjects are provided for the examination.

Life Insurance Course consists of two subjects; Life Insurance 1 (Life insurance products and development) and Life Insurance 2 (Life insurance accounting, settlements of accounts).

Non-Life Insurance Course consists of two subjects; Non-Life Insurance 1 (Non-life insurance products and development) and Non-Life Insurance 2 (Non-life insurance accounting, settlements of accounts and asset management).

Pension Course consists of two subjects; Pension 1 (Tax qualified pension plan scheme, defined benefit corporate pension plan scheme, defined contribution pension plan scheme and pension-related tax and accounting) and Pension 2 (Public pension system and employees' pension fund scheme).