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Pensions Risk Actuary (PRA) Certification Program

Each module in the PRA certification program consists of 7 study sessions (6 academic hours each) + one practical session in a computer class + an exam session.  Transition between the modules is contingent upon compliance with the requirements of the module. One can participate in any of the modules and gradually accumulate them until earning the PRA certification, in a period not exceeding 3 years. After earning the PRA designation, one can register only to one specialization module (MRA, CRA, ORA, IRA and LRA) in order to earn an additional financial actuarial science (MRA, CRA, ORA, IRA and LRA).


One can participate in the 5 modules of the PRA certification program also under the continuing education programs and not in order to obtain the PRA designation. In this case one is not required to complete previous modules as a prerequisite and those modules will not include passing exam and/or submiting a report.


In order to earn the PRA designation the candidate will have to complete the exams of all the modules, in which he or she was not tested.


At the end of the PRA certification program in order to earn the PRA designation, one is required to prepare a PRA report, such as the reports prepared by leading professionals in Israel and abroad in the field of pensions risk actuarial science.


The PRA report will accompany the certified PRA in meetings with potential employers or in his or her activitiy as a owner of a financial advisory office and will constitute as a entary ticket and a signal that he or she is familiar with the world's best practices in the field of the PRA certification.


The cost of each module in the certification programs which includes 48 academic hours over eight weekly sessions is 5,000 NIS (VAT & registration fee included).
Opening date: October 8, 2015.


The studies will take place on Sundaysat Levinsky College Campus, Tel Aviv, beween 16:30 to 21:30.

The parking is free and one can easily arrived by public transport. 


Module Registration Application (PDF)


Module FA201: Foundations of Financial Actuarial Science (PDF)


Module FA202: Quantitative Analysis (PDF)


Module FA203: Financial Markets and Products (PDF)


Module FA204: Valuation and Financial Actuarial Science Models (PDF)


Module FA210: Pensions Risk Actuarial Science (PDF)

Pensions Risk Actuary (PRA) Certification Program

The PRA certification program includes 240 academic hours divided into 5 modules (courses), 48 academic hours each. The first four modules are common to all the financial actuarial science certifications (MRA, CRA, ORA, IRA, LRA and PRA) and module 5 is the PRA module.

The Israel Association of Valuators and Financial Actuaries (IAVFA) is a professional organization, an institution for professional training and a body which specializes in placing professional employees in the financial sector in Israel. IAVFA strives to voluntarily regulate the professions of valuation and financial actuarial science in Israel, both by setting pre-qualification requirements, ethical principles for practitioners in these professions, and by training and certifying quality professionals for these professions. IAVFA provides both placement services in order to integrate its credentialed members in leading positions within the Israeli labor market, and mediation services between valuation consumers and valuation specialists.

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