The Institute and Faculty of Actuaries (IFoA) has introduced important updates regarding the use of the Formulae and Tables Book (2025 Edition – “Red Book”) for the April 2026 examination session. Students preparing for upcoming actuarial exams must take note of these key changes.
Key Highlights – April 2026 Exams
- All April 2026 exam papers are based on the 2025 Edition (Red Book).
- The older 2002 “Orange Book” is no longer valid and should not be used for preparation or in exams.
Digital Access (All Exams)
- Every candidate will get access to the latest electronic version of the Formulae & Tables Book directly on the exam platform.
Hard Copy Rules (Limited Exams Only)
- Only CM1 and CS1 candidates are allowed to bring a clean or minimally annotated copy of the 2025 Edition.
- No other editions or versions will be accepted in the exam hall.
No Hard Copy Allowed
- For all other exams, no physical book is allowed, including the Red Book.
Special Case – CM2 & SP6
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Candidates will have:
- Full electronic access
- Relevant extracts included within the exam paper
September 2026 Update
- IFoA will completely phase out hard copies from September 2026 onwards.
- Only digital access will be provided for all exams.
Final Advice for Students
- Prepare strictly using the 2025 Formulae & Tables Book
- Get comfortable with digital navigation during exams
- Avoid relying on outdated materials