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CT9 Nov 27th - Dec 8th

C

Clara Leahy

Member
Hi everyone,
Anyone who did CT9 from Nov 27th - Dec 8th I think it's crazy that we will not be able to complete CT9, are receiving no recognition for the work that we did (the majority of the exam) and may have to do a written exam now on top of the business awareness game and workbook.
Can everyone please send the IFoA emails about this - mine is below if you want inspiration.

education.services@actuaries.org.uk

Hello,

I am emailing about the recent suspension of the CT9 exam. I completed the CT9 business awareness game from 27 Nov – 8 Dec 2017. I am due to sit the online test tomorrow, Friday 5th of January. In the communication I received this morning it mentions that the suspension arises from a decision that was made in October of 2017. I began the business awareness game on the 27th of November and was allowed to continue and complete it on the 8th of December. You confirmed in an email on the 20th of December that I completed and passed 3 of the 4 stages. It makes sense to prevent students from starting future exams but is utterly ridiculous to completely discredit those who put in a substantial amount of time and effort to complete 3 of the 4 stages.

Refunding the cost of the exam to our employers and advising that we count a portion of the time used for PPD is not sufficient compensation for the work completed by this specific group of students. I took 5 study days (pg 2 of the attached study policy) – do you intend to reimburse the company for these days given that your decision was not communicated prior to the business game? This exam took up a full 3 weeks of evenings and two weekends. I took annual leave to prepare my workbook to a high standard, missed mid-week events and did not travel home on those weekends as I was under the impression I was to have another exam completed and receive recognition for that on my CV and in terms of a salary increase. I do not agree that you can simply fail to give us credit for the largest portion of CT9 which we completed, unaware of your imminent decision to discontinue it. If there were doubts we should not have been allowed to commence the work in the first place, and should have been informed earlier as we have now wasted some of our Christmas holidays preparing for the online exam.

Informing us the day before (26 hours) we are due to complete the final section of an exam we began over 5 weeks ago is completely unacceptable.
I hope you will consider how to deal with this particular group of students appropriately when you are making your decision.

Kind regards,
Clara Leahy
 
I was in your group. It is very unfair of them to do this, especially to us who have done the game and workbook which took tons of time.

Hope others in the same situation contact them on this.
 
km389, email them too! Will probably do nothing but just in case
 
I'm also in the same situation. I was amazed by this decision. I got my result for the other parts of CT9 in early December and was planning to do the exam after New Year, as I was told I had a year to do it.

I would seriously question how well this move fits in with the principles of the Institute's own "Actuaries' code".

I've emailed them to complain.
 
Hi,

The Actuaries code doesn’t apply to members of the IFOA! No joke, I have it in writing from them.

They are completely unregulated and if you want to take action you have to do it via the courts.

Your complaint will be swept under the carpet and you’ll be lucky to get any comprehensible response.

DanielKoschalka said:
I'm also in the same situation. I was amazed by this decision. I got my result for the other parts of CT9 in early December and was planning to do the exam after New Year, as I was told I had a year to do it.

I would seriously question how well this move fits in with the principles of the Institute's own "Actuaries' code".

I've emailed them to complain.
Click to expand...
 
In my opinion they should compensate people for preparation time & carry forward some credit towards the new version of this exam etc. If you get fobbed off remember to pass the concerns to Financial Reporting Council too.
 
Hey, You can sit the online test if you go on to the iCoach website. At least then we'll have passed 4 of 4 stages rather than 3 of 4 stages.
 
Clara Leahy said:
Hi everyone,
Anyone who did CT9 from Nov 27th - Dec 8th I think it's crazy that we will not be able to complete CT9, are receiving no recognition for the work that we did (the majority of the exam) and may have to do a written exam now on top of the business awareness game and workbook.
Can everyone please send the IFoA emails about this - mine is below if you want inspiration.

education.services@actuaries.org.uk

Hello,

I am emailing about the recent suspension of the CT9 exam. I completed the CT9 business awareness game from 27 Nov – 8 Dec 2017. I am due to sit the online test tomorrow, Friday 5th of January. In the communication I received this morning it mentions that the suspension arises from a decision that was made in October of 2017. I began the business awareness game on the 27th of November and was allowed to continue and complete it on the 8th of December. You confirmed in an email on the 20th of December that I completed and passed 3 of the 4 stages. It makes sense to prevent students from starting future exams but is utterly ridiculous to completely discredit those who put in a substantial amount of time and effort to complete 3 of the 4 stages.

Refunding the cost of the exam to our employers and advising that we count a portion of the time used for PPD is not sufficient compensation for the work completed by this specific group of students. I took 5 study days (pg 2 of the attached study policy) – do you intend to reimburse the company for these days given that your decision was not communicated prior to the business game? This exam took up a full 3 weeks of evenings and two weekends. I took annual leave to prepare my workbook to a high standard, missed mid-week events and did not travel home on those weekends as I was under the impression I was to have another exam completed and receive recognition for that on my CV and in terms of a salary increase. I do not agree that you can simply fail to give us credit for the largest portion of CT9 which we completed, unaware of your imminent decision to discontinue it. If there were doubts we should not have been allowed to commence the work in the first place, and should have been informed earlier as we have now wasted some of our Christmas holidays preparing for the online exam.

Informing us the day before (26 hours) we are due to complete the final section of an exam we began over 5 weeks ago is completely unacceptable.
I hope you will consider how to deal with this particular group of students appropriately when you are making your decision.

Kind regards,
Clara Leahy
Click to expand...


I was thinking about this and I think this is nothing more than online fraud. You are a victim. The only option is to inform the police.

https://www.actionfraud.police.uk/report_fraud
 
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