International ALU Students - Transfer of Credits

 

The Academy of Life Underwriting recognizes certain courses in countries other than the U.S. and Canada. Please check the following information.

 

FOREIGN LANGUAGE LOMA EXAMS

Spanish PFSL 280 is accepted as LOMA 280

Spanish PFSL 290 is accepted as LOMA 290

Spanish PFSL 320 is accepted as LOMA 320

 

AUSTRALIAN AND NEW ZEALAND INSTITUTE OF INSURANCE AND FINANCE (ANZIIF) (2004 and later)

The Academy recognizes that courses within the ANZIIF program do not have direct equivalents in the LOMA and CLU prerequisites used in the US and Canada. We will accept transfer of credit for ANZIIF courses as follows:

From the Diploma of Financial Services (Life Insurance Stream) program:

FSL 501 Serving the Life Insurance Customer - accepted as LOMA 280

FSL 502 Law Insurance Law and Regulation (OR FSL 508 New Zealand Life Insurance Law and Regulation) – accepted as CLU 324 (or LOMA 290 and 311).

From the Diploma of Financial Services (Financial Planning) program:

FSP 511 Financial Planning Practice - accepted as CLU 321

FSP 512 Managed Investments - accepted as CLU 331

FSP 515 Superannuation - accepted as CLU 335.

 

INSURANCE INSTITUTE OF INDIA

Licentiate Status in Life Insurance - accepted as equivalent to LOMA 280, 290 and 311 exams.

Associateship Status in Life Insurance - accepted as equivalent to LOMA 280, 290, 311, 320 and 335 plus CLU HS321 and CLU HS331 exams.

Fellowship Status in Life Insurance - accepted as equivalent to LOMA 280, 290, 311, 320, 335 and 371 plus CLU HS321, HS330 and HS331 exams.

 

SWISS PRIVATE INSURANCE PROGRAM

Completion of the degree program of Notenausweis, Vereinigung fur Berufbilding der schweizerischen Versicherungswirtschaft (Expert in Private Insurance Industry) - accepted as equivalent to completion of LOMA and CLU prerequisites for the Certificate, Associate and Fellowship levels (LOMA FLMI 280, 290, 310, 320, 330, and 371, CLU HS 321, 331, and 330).

 

CREDIT FOR ACTUARIAL EXAMINATIONS

Fellows of the Society of Actuaries (FSA) are given credit in the ALU program for LOMA Examinations 280, 290, 311 (US) or 316 (CAN) and 371, regardless of when the candidate became an FSA. Associates of the Society of Actuaries or actuarial students may be granted credit for one or more of the LOMA examinations listed above, provided that they have passed an actuarial examination which covered the material in the LOMA course. The material in the actuarial program must have been at least as great in scope and depth as the material in the LOMA course currently being given at the time credit is being sought. Credit will be allowed or denied at the sole discretion of the Academy of Life Underwriting. Requests for credit should be made in writing to Academy of Life Underwriting Secretary.

 

TRANSFER OF CREDIT TO AMERICAN COLLEGE (CLU)

The American College has decided that students who have received the AALU or FALU designation will be given credit for certain examinations in the CLU program. Credit will be given by The American College for HS 323-Individual Life Insurance and HS 324-Life Insurance Law to holders of the FALU designation. Application for transfer of credit should be made to The American College. The ALU Administrator will verify that the student has received the FALU designation, upon request from The American College.

 

SINGAPORE COLLEGE OF INSURANCE

Singapore College CLU04 Tax and Estate Planning will be accepted in lieu of US course HS 321 Income Taxation.

Singapore College CLU07 – Business Insurance will be accepted in lieu of US course HS 331 Planning for Business Owners and Professionals.

Singapore College CLU06 Risk Management, Insurance and Retirement Planning will be accepted in lieu of US course HS 330 Fundamentals of Estate Planning.

 

CHINA INSURANCE CERTIFICATION & EDUCATION (CICE)

CICE A1 Risk Management and Life Insurance is accepted as LOMA 280

CICE A5 Operations and Management of Life Insurance Companies is accepted as LOMA 290 or LOMA 301

CICE A4 Life Insurance Contracts is accepted as LOMA 311

CICE A6 Life Insurance Market and Marketing is accepted as LOMA 320

CICE A10 Life Insurance Regulation is accepted as LOMA 335

CICE A8 Life Insurance Company Asset Management is accepted as LOMA 357

CICE A3 Life Insurance Products is accepted as LOMA 371

CICE A7a and A7b Life Insurance Accounting and Finance is accepted as LOMA 361

 

CHARTERED INSURANCE INSTITUTE (CII)

Area of Study	CII Course #		Course Name	LOMA #	LOMA Name
General Insurance, Certificate in Insurance	IF2	General Insurance Business		280	Principles of Insurance
General Insurance, Diploma in Insurance	530	Economics and Business		290	Insurance Company Operations
General Insurance, Diploma in Insurance	M05	Insurance Law		311	Business Law for Financial Services Professionals
General Insurance, Advanced Diploma in Insurance	945	Marketing insurance products and services		320	Insurance Marketing
General Insurance, Diploma in Insurance	M80	Underwriting practice		301	Insurance Administration
General Insurance, Diploma in Insurance	M67	Fundamentals of risk management		335	Operational Excellence for Insurance Professionals
General Insurance, Diploma in Insurance	M92	Insurance business and finance		357	Institutional Investing: Principles and Practices
General Insurance, Certificate in Insurance	I11	Introduction to Risk Management		371	Risk Management and Product Design for Insurance Companies
Financial Services, Diploma in Financial Planning	R01	Financial services, regulation & ethics		361	Accounting and Financial Reporting in Life Insurance Companies

 

LIFE INSURANCE ASSOCIATION OF JAPAN

Click to view Life Insurance Association of Japan courses

 

FOR ALL STUDENTS:

If you feel that you have successfully completed courses that do not appear on any of these lists but that could be equivalent to the ALU program requirements, please contact the Academy of Life Underwriting Secretary with a full description of the course, which organization’s curriculum it was part of, and when you successfully completed it.

 

Appendix A

Click to view Appendix A