Hi all, At my company we have the following study allowance for the earlier exams (old CTs) as follows: CS1: 13 days CS2: 17 days CM1: 17 days CM2: 13 days CB1: 10 days CB2: 10 days Along with a cap of 30 days for an April exam and 20 days for a September exam. There is also a cap of 40 days for the year. I am sitting CM1 in April (if it isn't cancelled) using 17 days and hopefully CM2 and CB2 in September but this would add up to 23 days. My company are saying that I would be capped at 20 days if I were to take these 2 exams in September, and if I wish to have an extra 3 days I could use up some annual leave. Personally, I think asking me to use annual leave up is a bit harsh. I was wondering if I could get some opinions from other actuaries out there? My argument was that as I'm only sitting CM1 in April (17 days) I could use 23 days for September, thus adding up to the yearly cap of 40 days. Thanks!
Hello Imy We also have an annual cap, but instead of a separate cap for each session, we don't allow more than one study day to be taken per week on average for each sitting. The restrictions are there to ensure that study days are reasonably spread throughout the sitting with minimal impact on work. I think you would struggle to fit in 23 study days in the summer sitting were you to take just one day a week. Some company's may use managerial discretion to allow students to go against the rules set out in the company policy - but this would only be due to exceptional circumstances, otherwise it could be seen as unfair to other students. If you don't want to use annual leave you might want to reconsider which subjects you sit. The summer sitting is shorter - and very intensive studying during this period will mean you will see very little sunshine! And if you don't like the study policy you can always feed this back to management/HR and see if you can get it changed - if not for yourself then at least for future students who might face the same dilemma.
