North American ALU Transfer of Credit
The Academy of Life Underwriting recognizes that some older LOMA, American College (CLU) and certain Advocis courses are equivalent to the elective courses currently required for the Level One Certificate and the AALU and FALU designations and diplomas. The Academy also recognizes that some current or former courses offered by other institutions are equivalent to the current elective courses. The list below describes the transfer of credit available to students who have completed the courses or designations shown.
NB: Over the years, course numbers and descriptions have changed. See Appendix A below for a list of some of the changes that have occurred.
ALU ONE is accepted as new ALU 101
ALU TWO is accepted as new ALU 201
CLU & LOMA EXAMS
Holders of the FLMI designation, regardless of when it was awarded, will be given credit for all LOMA examination requirements of the ALU program. Holders of the CLU or ChFC designation, regardless of when it was awarded, will be given credit for all CLU examination requirements of the ALU program.
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.
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.
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.