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Classes of Membership 
Student
Before a candidate can enter for any part of the examinations, he must have been admitted as a student member of the Institute of Actuaries of India. A criteria for becoming a student member is available here. Criteria for Student Membership.
Associate 
Students members who have passed all the subjects of CT series and all CA subjects are eligible on an application to become Associate Member of the Institute . An Associate member is entitled to use the designatory letters "AIAI"
Fellow
•	A member of the Institute of Actuaries of India on application is admitted as a Fellow member subject to following; A student member who has passed all the examinations of CT, CA, ST (Any two out of 6) and SA (any one out of 6) series, has attended 2-days mandatory India Fellowship Seminar on ‘India specific Legislation, environments, practices and Professionalism', and has work based experience as under : 
Application for admission as FIAI	Minimum number of years of work experience required:	
1. On or after 01-01-2008	Three (3) Years	
2. On or after 01-01-2007 but before 01-01-2008	Two (2) years	
3. On or after 01-01-2006 but before 01-01-2007	One (1) year	
4. Before 01-01-2006	None	
•	An affiliate member who has had at least one year of India residence experience and has attended 2-days mandatory India Fellowship Seminar on ‘India specific Legislation, environments, practices and Professionalism’.
A Fellow member is entitled to use the designatory letters "FIAI" 
Eligible candidates will be admitted to the appropriate class on submission of the required form duly filled and signed paying the subscription for the class for that current year along with the admission fee to that class of member, wherever applicable.
The rights and responsibilities of each class of member are described in detail in the booklet entitled "Memorandum of Association and Rules and Regulations

Annual Subscription Year 2007-08
A In terms of Rule 6 of Rules & Regulations, we would like to inform you that annual subscription is falling due on 1st April every year. The annual Subscription for the year 2007-08 falls due on 1st April 2007. The current subscription rates are as under;
Class of Membership	Resident in India (Rs.)	Resident in rest of the world (Rs.)	
Fellows / Affiliates	1,500	3,000	
Associates	750	2,250	
Students	300	1,500	

For Fellows and Associates above age 60, and not gainfully engaged in Practice or Profession, the subscription is Rs. 300/-.	

Society accepts Life subscription from members who have completed 60 years of age. The amount of life subscription will be 10 times the appropriate annual subscription.	

Members above age 80 are exempted from paying subscription.	
The payment for the current year (2007-08) should reach ASI office on or before 30th June 2007.
B Mode of payment : The annual subscription may be paid by Cheque /Demand Draft / Pay Order/on Par Cheque, drawn in favour of “Actuarial Society of India”, payable at Mumbai. Please indicate your full name, Class of membership (Fellow, Affiliate, Associate or Student) & “Subscription for the year (mention year)” at the back side of Cheque/DD/Pay Order/on Par Cheque. 
We would like to inform you that any payment done by cash or consolidated payments would not be accepted.
Alternatively, those who are residing outside India can also make the payment through wire transfer for which he/she need to pay additional Rs.500/- as Bank Commission and Wire Transfer charges. The bank details are as under;
(For Foreign Currency)
Credit Bank of India, Mumbai
Treasury Branch A/c. no. 0003325000 with Bank of India, New York 
(BKIDUS33) for further credit to A/c 001710100056426 – Actuarial society of India 
With Bank of India D.N. Road Fort, Mumbai – 400 001.
Swift Code: BKIDINBBDNR
(For Indian Rupees)
Bank of India
D.N. Road, Fort, Mumbai – 400 001
RTG (Real Time Gross Settlement) no: BKID0000017
Credit to A/c 001710100056426 – Actuarial Society of India
With Bank of India, D.N. Road, Fort, Mumbai – 400 001.
Please send us your Payment UTR No. 
After the payment has been made through wire transfer, members are requested to inform Mr. Ravi Mastekar (Accounts) at ravi@actuariesindia.org under copy to Ms. Vijaya Bhosle (Subscription) at actsoc@actuariesindia.org for confirming the receipt. In case the members do not send any communication to ASI in this regard, the Society will not be responsible for the payment made and no correspondence in this regard will be entertained.
C Reinstatement will be sought as per the following terms and conditions.
i) If the request for reinstatement is received within three months of his/her ceasing to be a member, then the payment of the annual subscription plus a penalty of 25% thereon. (Applies to members whose subscription is outstanding only for the current year). 
ii) If the request for reinstatement is received after three months of his ceasing to be a member, he/she has to pay existing annual subscription, in addition to penalty of 50% of the annual subscription prevailing at the time of reinstatement. (Applies to members whose subscription is outstanding only for the current year).
iii) Where subscription is in arrears for more than one year, reinstatement subject to approval of EC can be made on payment of subscription for 2 years together with penalty of 50% on the current annual subscription. 

Subjects For The Examination:
Students must take 15 subjects in preparing for the actuarial examinations. 
One of the subjects at SA series level is to be chosen from out of 4 as described later herein.
These subjects are grouped in CT series (9 subjects), CA series (3 subject), ST series (2 out of 6) and SA series (any one out of 6).

Sr.No 		Subject 						Examination Fees    Cost Of Study MAT

 	 								  (Amt in Rs.)             Soft		Hard
 	Foundation Course									950
	Core Technical Stage
	 CT series (9 subjects)}		
 1 	CT1-Financial Mathematics 						900   		1200		2200		

 2. 	CT2-Finance and Financial Reporting				900 
 
3.         CT3- Probability and Mathematical Statistics			900 
 
4.	CT4-Models								900 
 
5. 	CT5-General Insurance, Life and Health Contingencies		900 
 
6.  	CT6-Statistical Methods						900 
 
7. 	CT7-Economics							900 
 
8. 	CT8-Financial Economics						900 
9.	CT9 – Business Awareness Module					900

	CA1 - Core Applications Concepts 					
 
10.	CA11- Paper on Assets						1500		1700		3200
            CA12- Paper on Liabilities and Asset-Liability Management        1500		--		--Year 2007/2007_CA2.pdf
11.	CA2 Modeling							1100		800		1400
12.	CA3 Communications						1100

 	Specialist Technical Stage (ST)
             (2 out of 6) 
13.        ST1 - Health and Care						1800		1700		3200

14.	ST2 - Life Insurance							1800
 
15.	ST3 - General Insurance						1800
 
16.	ST4 - Pension and Other Employee Benefits			1800
 
17.	ST5- Finance and Investment A					1800
 
18.	ST6- Finance and Investment B					1800

 	Specialist Application Stage (SA) 
             (any one) 
19.	SA2 - Life Insurance							2000		2200		4200
 
20.	SA3 - General Insurance						2000
 
21.	SA4 - Pension and Other Employee Benefits			2000
 
22.	SA6 - Investment							2000
 										18900

So Total Course Fees Is Around Rs. 40,000 

CT Series		
CT1-Financial Mathematics	CT2-Finance and Financial Reporting	
CT3- Probability and Mathematical Statistics	CT4-Models	
CT5-General Insurance, Life and Health Contingencies	CT6-Statistical Methods	
CT7-Economics	CT8-Financial Economics	
CT 9 – Business Awareness Module		
CA1 - Core Applications Concepts		
CA11- Paper on Assets	CA12 - Paper on Liabilities and Asset-Liability Management	
		
CA2 Modeling		
		
CA3 Communications		
		
Specialist Technical Stage (ST)		
ST1 - Health and Care	ST2 - Life Insurance	
ST3 - General Insurance	ST4 - Pension and Other Employee Benefits	
ST5- Finance and Investment A	ST6- Finance and Investment B	
		
Specialist Application Stage (SA)		
SA1 - Health and Care	SA2 - Life Insurance	
SA3 - General Insurance	SA4 - Pension and Other Employee Benefits	
SA5 - Finance	SA6 - Investment	
		
Additional Core Reading Material for SA level subjects		
SA2 - Life Insurance		
•	Note on ‘Taxation of Life Insurance business – Some Issues’ by S P Subhedar 
•	Circular dt. August 2002 from IRDA - appointment Actuary's Annual Report 		
SA4 - Pension and Other Employee Benefits		
•	India Specific Legislation, Environment And Practices – Pension & Other Employee Benefits Version – 1.05 (March 2006) – G N Agarwal 
•	Pension Regulatory Issues: A framework for India by S P Subhedar – a paper presented in 6th GCA in 2004 
•	AS 15(Revised 2005) 
•	IAS 19