Any advice?

Hi,

I'm planning on sitting CM1 in April 2019 and I want to sit another paper alongside it but I can't decide between CM2 and CS2, (I have exemptions for CS1, CB1 and CB2).

Has anyone got any recommendations or opinions on which would be better to sit alongside CM1?

 

I feel that CS2 would be a better fit (if CM1 = CT1 + CT5 and CS2 = CT4 + CT6). It's been some years now since I sat them but I feel that CS2 would be better than CM2 (which is the old CT8) due to the difficulty of the exams. CM2 should probably be done on its own, one year the pass rate for CT8 was only 31%... This is just my subjective opinion and I also have only sat the exams in CT form so I'm not quite sure what they are like in their new form.

 

Hi, I have a follow up question..

I am also planning to sit CM1 in April, and was considering CS2 alongside it. I'm working full time (as many do). Being that it will be my first exam sitting (and I have exemptions from CS1 and CM2), should i just stick with CM1 alone since i haven't sat before, or do you think CS2 alongside is easily possible?

Any advice is welcome

 

I am also thinking to do CM1 in April 2019 and was thinking if anybody would be interested in being part of a CM1 whatsapp group, so we could all help each other? If you would like to, please do send me your details in a private chat.

Thanks!

 

Another person that doesn’t understand the exam system due to poor communication from the ifoa. Taking two of the new subjects is about 400 to 500 hours of studying. Of course it’s possible, but most people would struggle. If you fail you have to do it all over again. Life was easier with the old system where you only had to sit the individual CT and not the entire CM or CS

No one seems to comment on the fact that you can take the individual components separately if you take the exams in India. The ifoa have also changed their mind On whether you can take the componants independently or not without telling anyone.

The ifoa has published a disclaimer to say that the system could still change so I’m not sure what that is all about...

 

Sorry what do you mean by this part?

 

The CM & CS subjects each have two papers - a paper-based exam and a computer-based exam. When the IFoA first announced the 2019 strategy they said that you'd be able to pass/fail/resit the two papers separately. But this has changed and they are now taken/passed/failed together (with a 70%//30% loading attached to the two papers). So it's like CP1/CA1: one subject/exam with two papers.

 

IFoA moving in the wrong direction, in my view.

 

your entitled to your view, Imo they are moving in the right way - the computer element makes sense.

 

I'm talking about them no longer allowing people to take the papers separately. If anyone has a link to IFoA changing their minds it would be useful, thanks.

 

When the new curriculum was first published, it was clearly stated that the individual exams of CM and CS could be “sat and passed individually”. Somewhere down the line, with no communication from the IFoA, this changed and is quite clearly not the case anymore. I was only able to take 1 CT per sitting and study 125 to 150 hours and now I have to take two exams in the CM or CS series which require 200 to 250 and also study the same material all over again as you are all well aware. When your take resits into account, which are very normal, the problem is compounded.

If you see what the IAI say about the curriculum change, their members are allowed to take the Indivudual componant of CM and CS and they also get an extra exam sitting in December.

 

I can't see any merit in making someone effectively take the computer exam again and again as part of this just because they haven't done well enough in the written paper. Of course it does mean that IFoA will be getting the full fee for every fail for both papers rather than for the paper that was failed.

 

what is the difference between the british and australian actuarial exams? Kindly advice

 

It doesn’t exist. There was no communication made. So while people claim a proper notice period has been applied, it really hasn’t. This is another example of why an adequate notice period has not been provided (the other main example being changing no students would be disaadvantaged moving to lies about the average student not being disadvantaged when in fact according to the IFoAs own figures, around 10,000 students had one of the Affected CT exams outstanding last sitting)

I would appreciate if acted would send me a summary of all the posts which they have modified.

I am wasting my time summarizing the facts for other members who clearly have not noticed what the IFoA is doing and acted are just deleting my clear and accurate guidance for no reason.

Other posters should be aware that my posts might not actually be my posts since acted editing and modifying them.

Regarding British and Australian exams - the only way you will find out is if you travel thousands of kilometers to Australia, manage to get a work permit and a job, start taking the exams for a few years etc.