For the benefit of those of you currently carrying a CA11 or CA12 exemption, the Institute have confirmed that: 1. These exemptions will expire at the end of 2006, i.e. if you haven't got the other part of it by then, then you'll have to pass the whole thing. 2. There's no way of going back and cashing in exemptions differently, i.e. you're stuck with the choices you made at the end of 2004 Some might consider this a bit harsh. What do you think?
Where did you hear that? Is it on the Institue's site? If true, I think it is extremely harsh and very disappointing, especially after a couple of poor sittings I was rethinking my exam strategy. I currently have an exemption in CA11 from 301 and could have had an exemption in CA12 as I had also passed 304 previously. If you look on the "Frequently Asked Questions" report published Feb 2005 on the Transition Arrangements on the Institute's website: http://www.actuaries.org.uk/files/pdf/students/faqs.pdf then on question 10 says "Once I have made my choice of subjects in transition (CA1 and ST) will I be able to change this?" the answer is "At the moment the decision is not to let students change but we may review this in December 2007..." December 2007? Is this a typo? Does it mean December 2006? Or have they extended the period of keeping CA1 as two separate exams for an extra year? If so, is has this been communicated at all? Bah, who knows! I may give them a ring to clarify... (They previously mentioned the possibility of extending the temporary split for the 2007 exams in the document http://www.actuaries.org.uk/files/pdf/students/transition.pdf point 7 on page 2.)
