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
Courses in the right hand column (Life Insurance Association of Japan Exams) can substitute for the corresponding ALU prerequisite (either LOMA or CLU) in the left hand column. For example, credit will be given for LOMA 280 – Principles of Life, Health and Annuity if the Life Insurance Association of Japan Exam, Introduction to Life Insurance has been completed. Please see the following chart.
|LOMA and CLU Exams||Life Insurance Association of Japan Exams|
ALU 1 Courses
|LOMA 280 – Principles of Life, Health and Annuity||Introduction to Life Insurance|
|LOMA 290 – Life and Health Insurance Company Operations||Contract Provisions and Law|
|LOMA 311 – Business Law for Financial Services Professionals||Life Insurance and Tax Law|
|ALU 2 Courses|
|LOMA 320 – Marketing Life and Health Insurance||Life Insurance Products and Sales|
|LOMA 330 – Management Principles and Practices||General Course Examination and Professional Course Examination and Advanced Professional Course Examination|
|HS 321 - Income Taxation||Life Insurance Accounting|
|HS 331 – Planning for Business Owners and Professionals||Life Insurance for Corporate and Business Owners|
ALU 3 Courses
|LOMA 371 – Managing for Solvency and Profitability in Life Insurance Companies||Life Insurance Actuarial Science|
|HS 330 – Fundamentals of Estate Planning||Asset Management|
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.
Click to view Appendix A
NB: Over the years, course numbers and descriptions have changed. See the following for a list of some of the changes that have occurred.
CLU AND LOMA COURSE NUMBER CHANGES & CREDIT
Old LOMA 1 is accepted as new LOMA 280
Old LOMA 2 is accepted as new LOMA 290
Old LOMA 3 is accepted as new LOMA 311 (US) or 316 (CAN) Old LOMA 4 is accepted as new LOMA 320
Old LOMA 5 is accepted as new LOMA 335
Old LOMA 9 is accepted as new LOMA 371
Old LOMA 310 is accepted as new LOMA 311
Old CLU 307 is accepted as new CLU 321
Old CLU 309 is accepted as new CLU 331
Old LOMA 315 is accepted as new LOMA 316
Old LOMA 330 is accepted as new LOMA 335
Old LOMA 340 is accepted as new LOMA 356
Old LOMA 356 is accepted as new LOMA 357
Canadian CLU 129 (old 106) or Canadian CLU 326 is accepted as Advocis Course 235
Canadian CLU 130 (old 109) or Canadian CLU 328 is accepted as Advocis Course 233
Canadian CLU 131 (old 110) or Canadian CFP 205 is accepted as Advocis Course 237
ICA course C2 is accepted as FLMI 310
ADVOCIS (Formerly Canadian CLU) EXAMS
Advocis 231 is accepted as CLU 311
Advocis 232 is accepted as CLU 300
Advocis 233 is accepted as CLU 335
Advocis 234 is accepted as CLU 326
Advocis 235 is accepted as CLU 321
Advocis 236 is accepted as CLU 324
Advocis 237 is accepted as CLU 334