Qualification Examination
Becoming an actuary in Japan requires passing the qualification examinations of The Institute of Actuaries of Japan and being recognized as a Fellow of IAJ
An actuary can be any individual who is fulfilling the role of an actuary; however, in Japan an actuary is a person who is a Fellow of the IAJ. To become a Fellow, a candidate must pass all subjects of the IAJ qualification examinations, which are offered once a year, and complete the professionalism training and the specific area training (introductory training).
A candidate must successfully complete examinations on seven subjects—a Primary Examination of five Basic Subjects and a Secondary Examination of two Advanced Subjects—which requires a minimum of two years.
One unique characteristic of the IAJ credential is that many candidates study for and take the examinations while working in an actuarial role at their organizations. Most Fellows have earned their credential while gaining practical experience in the workplace.
Steps to Certification
The Primary Examination: Basic Subjects
Objective
Determine if the candidate has sufficient basic knowledge to take the secondary examination
Exam subjects
- Mathematics
- Life Insurance Mathematics
- Non-Life Insurance Mathematics
- Pension Mathematics
- Accounting, Economics and Investment Theory
Pass all subjects*
The Secondary Examination: Advanced Subjects
Objective
Determine if the candidate has the professional knowledge and problem-solving skill necessary for actuarial practice
Exam subjects
One course selected from the following three categories. No distinction for Fellow status is made based on the course selection
- Life Insurance Course
Life Insurance 1
Life Insurance 2 - Non-Life Insurance Course
Non-Life Insurance 1
Non-Life Insurance 2 - Pension Course
Pension 1
Pension 2
Pass both subjects in one course*
Professionalism Training (introductory training)(Open to Associate members as well)
Specific Area Training (introductory training)(Open to Associate members as well)
* Candidates are not required to pass all the primary and secondary examination subjects at once and may take the subjects separately over multiple annual examinations.