|The ASHK is pleased to announce the roll-out of its local actuarial examination (on top of the overseas professional examinations) applicable to new Fellow of the ASHK post transition period (defined as below).
Background & examination objectives
- In December 2013, ASHK members voted in favor of pursuing the recognition of the ASHK as a statutory body. ASHK Council recognised that some enhancements shall be made to prepare the ASHK in becoming a statutory body. These include developing and introducing a set of local actuarial examinations in Hong Kong as a prerequisite for new Fellows of the ASHK starting from 1 January 2019.
- In June 2017, the ASHK made available to its members the examination curriculum which covers areas of local regulations and industry practices pertaining to actuaries in Hong Kong practicing in life insurance, pension, general insurance and investment.
- Passing of the examinations serves to demonstrate the candidate’s knowledge in the local landscape and the actuarial guidance notes as well as to gain appreciation in professional standards.
- The examination is viewed by the ASHK Council as a necessary step on our path towards statutory recognition, ensuring actuaries practicing in Hong Kong have the relevant local knowledge.
Grandfathering & transition arrangements
- All existing ASHK Fellow members who hold valid membership status on 1 January 2019 are eligible for grandfathering. ASHK may introduce a Professional Development Course as part of the transitional arrangements. More details will be announced in due course.
- Any ASHK Fellow member who was grandfathered but has subsequently lapsed their membership, regardless of any reasons, is required to take the examinations to requalify as an ASHK Fellow thereafter.
How to become a Fellow member of ASHK? (Effective 1 January 2019)
- All ASHK members including Fellow, Associate and Student Members are welcome to take the examination.
- The individual is required to obtain a pass grade on the Core paper AND one of the three Elective papers of the ASHK examination, i.e. Life Insurance, General Insurance and Pension.
- There are no exemptions for the examination for members joining after 1 January 2019. It is encouraged that candidates take the examinations early on to demonstrate sufficient understanding in local landscapes which will help candidates to discharge their actuarial professional responsibilities.
- In addition to the ASHK examination, the individual must be a Fellow member of at least one of the following accredited actuarial bodies: - - Actuaries Institute Australia, Casualty Actuarial Society (CAS), USA, Institute and Faculty of Actuaries (IFoA), UK, Society of Actuaries (SOA), USA, or possess appropriate professional actuarial qualification other than the above and practical experience as approved by the ASHK Council.
Phase and Timeline
- Examinations are held every May and November every year.
- Core paper and Elective papers will be offered each sitting.
- Core paper will be made available starting from May 2019. Registration opens February 2019.
- The Elective papers will be rolled out in two phases.
- Phase I: Life Insurance and Pension Elective papers will be made available starting from May 2019. Registration opens February 2019. Registration for November sittings opens in July.
- Phase II: General Insurance Elective paper is targeted to be made available starting from May 2020.
- Language: English
- Duration: 1.5 hours
- Format: 60 multiple-choice questions
(1) Syllabus, study guides and sample questions
(2) Timetable and registration
(4) General information
- Syllabus and zipped files of all links/readings stated in the syllabus
- Study Guides
- Sample Questions
We welcome comments on these materials. If you are interested in volunteering to assist the ASHK in preparing the examinations, please email us at firstname.lastname@example.org