In the Core Principles stage there are three main modules: Actuarial Statistics (CS), Actuarial Mathematics (CM), and Business (CB). All of these modules need to be passed to be able to qualify as an Associate or a Fellow.

CS and CM modules consists of two subjects each. Each subject consist of two examinations. One is a three hour and fifteen minutes paper-based exam and the other is a one hour and forty five minutes computer based exam.

CB module consists of three subjects. CB1 and CB2 are written examinations of three hours fifteen minutes each, whereas CB3 is an online examination of 2 hours duration.