IFoA SP2
SP2 - Life Insurance (Specialist Principles)
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ExploreAbout this exam
SP2 - Life Insurance, formally titled Specialist Principles: Life Insurance, is an Institute and Faculty of Actuaries (IFoA) Specialist Principles examination. It sits at the specialist stage of the IFoA qualification, after the Core Principles and Core Practice subjects, and is aimed at candidates who intend to work as life insurance actuaries or who need a recognised specialist credential in that practice area. The subject matter is life insurance actuarial practice: the products, the reserving and capital frameworks, the modelling, and the professional judgement that surrounds them. This page is an independent study resource and has no official affiliation with the IFoA. Candidates should be aware that the IFoA's own SP2 Life Insurance study page was archived as of retrieval on 5 November 2026 and now returns only a generic archived-page notice, so exam structure details such as question counts, duration, pass mark, fees and retake rules could not be confirmed from it and are not stated here. To prepare, work from the current IFoA curriculum and the Virtual Learning Environment (VLE), which the IFoA describes as offering thousands of high-quality learning resources, short courses and microlearning materials, including event recordings, research papers and working party outputs. Archived pages can be requested from the IFoA at [email protected], and the IFoA states it aims to respond to archive enquiries within 5 working days.
What you'll study
About IFoA SP2 preparation
What is the official exam format for SP2?
Not confirmed here. The IFoA SP2 Life Insurance study page was archived as of retrieval on 5 November 2026 and now shows only a generic archived-page notice, so question counts, duration and format are not available from the permitted source. Check the current IFoA curriculum and exams pages directly before planning.
How long is the exam and how many questions does it have?
No figure is given on this page. The archived SP2 page no longer carries structure details, and the IFoA homepage does not state them. Treat any number you see elsewhere as unverified until you confirm it against the IFoA's current exam pages or your own exam entry confirmation.
What pass mark applies, and what happens if I fail?
Neither the pass mark nor the retake policy is stated in the available source text. Rather than guess, confirm both with the IFoA. The homepage does point to an 'After exams' section covering mitigating circumstances, appeals and counselling, which is the right place to start if a sitting goes wrong.
How much does SP2 cost to sit?
The fee is not stated in the source material available here, and the archived SP2 page no longer lists exam details. Fees are set by the IFoA and can change between sessions, so check the current exams section of actuaries.org.uk or your member portal before you budget for a sitting.
Is SP2 difficult, and what trips candidates up?
It is a specialist-level paper, so it assumes fluency in core actuarial techniques and tests whether you can apply them to life insurance problems. Weak candidates typically memorise formulas without being able to explain assumptions, communicate results, or handle open-ended judgement questions. Practise written explanations, not just calculations.
In what order should I take my exams, and where does SP2 fit?
SP2 is a Specialist Principles subject, so it normally follows the Core Principles and Core Practice stages rather than running alongside them. Confirm the current curriculum structure and any prerequisites on the IFoA site, because the archived SP2 page no longer sets out entry requirements.
Where can I find official study material?
The IFoA points candidates to its Virtual Learning Environment (VLE), described as offering access to thousands of high-quality learning resources, short courses and microlearning materials, including event recordings, research papers and working party outputs. That is the safest starting point for current, IFoA-authored material.
Can I still see the old SP2 Life Insurance page?
Possibly. The IFoA says that if you need help or would like to request access to an archived page, you should email [email protected], including the webpage title and the original URL. The IFoA states it aims to respond to archive enquiries within 5 working days.
Is this page affiliated with the IFoA?
No. This is independent study material and makes no claim of official affiliation, endorsement or authorship by the Institute and Faculty of Actuaries. Always treat the IFoA's own published curriculum, exam regulations and notices as authoritative over anything written here.