lol true 5 years is very hard, I think I said 6 though, I think ND thought I meant 5 when I referred to the IAA program taking that long. 5+1 for honours in Actuarial Studies = the 6 years.
RE: how long to qualify as a FIAA, I've heard its unlikely to pass every exam first try, so 5 yrs is reasonable. Still, the IAA exams don't have the lowest first time pass all modules rate. That'd be the CPA in the U.S. lol. 5% pass all modules first time last time I heard.
I said 6 years for Senior Manager, but I admit even then its not guaranteed. 6.5 is more likely at the firm I'm at. 6 if you get advance promotion (e.g. at Janurary, instead of normally at June) Even though the salary guides I chucked here:
http://community.boredofstudies.org/462/commerce-business/110627/accounintg-firms-cadetships/5.html?posted=1#post2403451
even though they say 6 years, I agree with Minai, it'd be very unlikely to be in 5 years. its often 3.5 before AssMan, 4.5 before Man1, 5.5 before Man2, 6.5 before Senior Manager.
signing off now, i've wasted too much of my exam prep on pro-accounting propaganda on this site lol