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Credit Note Policy


A100 / A200 series and F106 exams only: UK Institute and Faculty of Actuaries Refund policy

• After the exam registration closing date: no refund will be given

  

The following credit note policy pertains to all ASSA co-ordinated exams and courses


Actuarial Society of South Africa Credit Note Policy 

Fees carried forward/credit of exam fees will only be granted to members of the Actuarial Society of South Africa that have paid in full and meet the criteria set out below.

 All application must be clearly titled “Credit Note Application” and must be sent separately to any other applications or correspondence.

 

Before the exam entry closing date or on the closing date (pre closing date application):

You may de-register yourself via your member profile during the registration period. Supporting documentation is not required with this process. No administration will be charged.

No de-registrations and full refunds can be granted after the registration period has closed, see Credit note application process below. 

After the registration closing date: Credit Note applications

Credit notes will only be given to candidates who pay the full fee and are unable to sit the exam due to circumstances beyond their control, such as illness. Credit note applications must be sent to the ASSA Administration office within four weeks of the exam date. Credit Notes will only be considered for those candidates who pay the full fee and submit a Credit note application form with the necessary supporting documents to the ASSA administration office within this time period.

All credit note applications will incur an administration charge of 20% of the exam entry fee.  Credit note applications must consist of a completed application form, an explanatory covering letter and supporting documentation such as a medical certificate or doctor’s note.

[NB: ASSA does not de-register members for any of the UK IFoA co-ordinated exams: A100 and A200 series Subjects, F106 or A301 subjects, please note the UK IFoA Refund policy above.]


 Examples of acceptable forms of supporting documentation are:

·         Unexpected illness/injury – medical certificate or doctor’s note

·         Incident/emergency – police or fire certificate

·         Death of family member – death certificate or letter from employer

·         Unexpected loss of job – letter from employer (termination of contract)

 

The following situations are not acceptable grounds for a refund:

·         Not prepared for the exam

·         Event on same day – wedding, holiday, business meeting, etc

·         Pre-existing medical condition

·         Moving house

·         Did not receive entry permit

·         Job commitment

 

Please return your completed form to assaadmin@actuarialsociety.org.za

N.B: No Credit notes will be issued  if a candidate is present for the examination.

Please allow for a processing time of 3 weeks after the application has been received by the ASSA office.