I didn't think this was an IAI forum but there are as many quotes from IAI members as there are from the IFOA. Firstly I have nothing against IAI members. My gripe is with the people in charge.
With regards to the pass mark. Ask the IAI and see what they say. I haven't got the evidence I'm afraid. Although I do have evidence that I'm not able to join the IAI only due to my British nationality. Funny thing is that I also have an Indian OCI card.
From what I have heard, the MRA between the IAI was not negotiated by the IAI. There is no coincidence that the IAI follows the IFoA. The IFoA have "told" the IAI that they can't accept U.K Citizens if they want to share our resources whereas the IFoA will welcome IAI members who can afford to pay the U.K. Level fees. The reason is most likely money. The IAI exams are significantly cheaper and the IFoA did not want to lose revenue and open the floodgates for IFoA members to pay a fraction of the exam entry fee and lose their custom. So while you might not think the IFoA is not out to get you, it's because they're doing it from under your nose. The IFoA is not acting in the interest of its members and advancing actuarial knowledge. If the IFOA was acting in our interests they would not open the floodgates to the actuarial profession and preserve rather than destroy exclusitivity.
Regarding globally recognised. I work abroad and students who can speak a foreign language laugh at me as I struggle with the U.K. Qualification. My Swiss colleagues are done in 2/3 years with the SAV and then they ask someone to sign them off as a FIA. Some of their exams are 20 minutes long and they they start studying a week before the exam. There are several I know of working in the U.K. But they'll never tell you they got their qualification via a MRA.
Last edited by a moderator: Sep 13, 2017