CP3 Pass List Sep 2018

Discussion in 'CP3' started by JamaicanJem, Dec 13, 2018.

  1. markf268

    markf268 Member

    I would suggest that you could have just used "age" here - the definition of what age you are using is a technical point and really doesn't matter to the customer so can be written more concisely.
     
  2. PeteC

    PeteC Keen member

    Thanks for your suggestion. I suppose with age next birthday, which is how the policy is measured I thought in the present. As opposed to knocking a year off the the ages to make it the current age.

    One to think about next time
     
  3. almost_there

    almost_there Senior Member

    It's simply a rip-off. They fail to show how people qualifying in other allegedly 'equivalent' associations are held back from qualifying as actuaries by exams of such low pass rates failing for such petty, inconsistent reasons and inexplicable marking processes for which IFoA refuse to fully disclose. Pity IFoA have not been subject to proper oversight over the years. Thankfully the disgraced FRC are being shut down and replaced so there is some hope. People need to get their examples ready and put it to them from day 1. Don't sit back and expect others to do it.
     
    Last edited: Jan 5, 2019
  4. PeteC

    PeteC Keen member

    What do you think people (mainly part qualified students) can do here?
     
  5. almost_there

    almost_there Senior Member

    With FRC being removed as the oversight body for IFoA then it presents an opportunity for members to lobby politicians for change.
     
  6. Alaric

    Alaric Made first post

    Arguably members shouldn’t have to lobby politicians. The profession should look to self-regulate if the FRC is being removed; the profession is there for its members and should hold itself accountable to the standards members expect.

    With this exam, the standards expected haven’t been achieved. This isn’t the first time they’ve had platform issues and the use of a global adjustment as a fix benefits some over others as different people had differing experiences judging from this thread.
     
  7. almost_there

    almost_there Senior Member

    They should, yes, but they don't. There is a serious malaise there, a culture that I find to be self-serving. They fob off complaints and have done so for years, so I don't think they are fit to self-regulate. They've only themselves to blame. The disrespect shown to members who raise genuine concerns is terrible. FRC let them get away with it. Students don't have any kind of vote. IFoA Council don't even discuss issues raised by members. People have emailed Council and IFoA Presidents only to get no response except their emails intercepted by IFoA solicitors.
     
  8. almost_there

    almost_there Senior Member

  9. qnehl1

    qnehl1 Member

    I am glad I am not the only person who has issues with this exam!
    My two main highlights are:
    • Effectively putting a pricing basis in a letter to a customer is actually laughable! There is no way this would be done in practice.
    • The whole model solution is presented like a financial textbook, not a letter to a customer with very limited financial knowledge. Overall in my opinion there is just too much information in the solution.
    • How is "Age next ".....Birthday?? classified as jargon?! :D:D:D. Pretty sure a two year old could understand that one!
     
    Alaric likes this.
  10. Alaric

    Alaric Made first post

    Could be that everyone who took this exam has grounds for an appeal, based on the below and the discussions within this thread. Arguably the more people that appeal the stronger the case is, I am certainly considering it. Note that appeals have to be submitted within 40 days of the exam results, today would be day 28 of the 40 (day 40 being 22/01, assuming I’ve calculated correctly). The relevant page of the IFoA website reads:

    You may make an appeal on the following grounds
    • Irregular procedure or improper conduct of an assessment.
    https://www.actuaries.org.uk/studying/after-exams/make-appeal
     
  11. Alaric

    Alaric Made first post

    Here’s a thought. So in using the ‘global adjustment’, those within the IFoA (principal examiner and the Board of Examiners) are actually in breach of the actuaries code. Based on what’s been said within the thread, there no way that this meets the principles for integrity and impartiality. So we whistleblow and bring those responsible before the Disciplinary Committee.
    https://www.actuaries.org.uk/upholding-standards/standards-and-guidance/actuaries-code
     
    Last edited: Jan 10, 2019
  12. almost_there

    almost_there Senior Member

    Alaric, I believe the case for IFoA losing self-regulation is far greater than for failures of this particular exam. We are talking about many years of complaints not handled properly. Examiners would need to be IFoA members to come under the disciplinary process.
     
  13. PeteC

    PeteC Keen member

    It looks like they think they've found a solution to the technical problems faced by (almost?) everyone who has taken the CP3 exam

    There are now three times we can sit the exam
    9:00, 9:30 and 10:00 on the same day
     
    Last edited: Jan 16, 2019
  14. patron

    patron Keen member

    Are they options you get when you go to book the exam?
     
  15. PeteC

    PeteC Keen member

    Yup
     
    patron likes this.

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