Exam fee refund problem

Hi all Aussie fellows,

Has anyone ever went through the process of refund for their exam fee due to sickness or whatever reasons they were? I was bit confused when I was doing refund for exam fee. I was unable to attend the exam because I wasn't feeling well, medical certificate provided.

As we all pretty familiar, we are paying AUD$550 for every part 1 exams(at least since I joined 2008). It was stated for every refund, 20% would be deducted from total amount, doing the math and I believed I would receive AUD$440. In fact I only able to get refunded for around AUD$250, directly from UK.

For this matter I contacted IAAA, they reckoned it was due to the exchange rate, and they do not take any cut from the AUD$550 we paid for each exam, which means all the money we paid would be going to UK. Then I contacted UK, they gave me a different version of answer, which quite differ from what IAAA told me. They said they only received £195.00 ~ AUD$310 from IAAA for each part 1 exam. Where has the AUD$200 gone to?

From what I am aware of, exchange rate for AUD to £ has never close to what they reckon it was since 2008. Even if it is due to the exchange rate, why the amount of we paying hasn't changed for these few years? Does it means the exchange rate been staying the same these few years?

I felt ripped off by someone, anyone had the same experience before?

 

Wow, that really sucks! I was also unable to do my exam due to sickness. I fully expected to get 80% of the refund back (not that it has been processed yet, but here's hoping). I wonder where the missing money went indeed? I'll let you know what happens when my amount arrives (if and when!)