IFoA Mathematics

I think due to the Advertising Standards Authority investigation of IFoA they've now removed the 3-6 years claims to say "To qualify as a fellow takes, on average, 6-7 years."
https://www.actuaries.org.uk/studying/prepare-your-exams/suggested-study-hours-and-pattern
https://www.actuaries.org.uk/become-actuary/careers-advice/careers-faqs

 

Didn’t they just publish on Facebook that it take 6.5 years for 12 exams (associateship)? How do we now get to to 6 to 7 years for fellowship? How long are the lies going to continue? When is someone from the IFoA going to comment?

 

Nearly all those who failed CT3 will also have CT4 and CT6 outstanding. So pre transition: 3 subjects and three 3 hour exams to go. Post transition, 2 subjects, two 3 hours and two 1.5 hour exams to go. Many might also have CT1 and 5 to go, leading to a slight reduction. Many attempted CT8 this time instead of CT4 or 6 and so position similar for them too. Not denying many are still impacted but its not quite as simple as you make out.

 

While 6-7 years is closer to the truth, it's clear the 3-6 years claims were false and misleading. This has gone on for such a long time.

• Mr Derek Cribb CEO when interviewed in online articles stated repeatedly it took on average 3-6 years to qualify.

https://archive.shine.cn/business/b...ing-expertise-to-assessing-risk/shdaily.shtml
https://educationtimes.com/article/98/2015033020150330111145365d2bcb8fd/Actuarial-science.html

• Various stakeholders relied on this 3-6 years information from IFoA website, such as University careers services and even the UK Government's professions web-page.

https://www.gov.uk/actuaries-england-scotland-wales
https://info.lse.ac.uk/current-students/careers/resources/employment-sectors/actuarial-careers

They did publish that. They also claim to have high standards of honesty and integrity. I haven't yet seen any apology.

 

I agree there might even be some that advantage from the new system. But your example still makes someone worse off. 4 exams instead of 3 and also you’re required to study for a minimum of 200 or 250 hours whereas before it was 125 or 150. Anyway. Mr Cribb and several of his cronies said that no one would be disadvantaged. Again a one to one mapping would have been far easier and there would be none of this debate. There is no excuse for the lies

 

if it always has to be 1-1 then you can never make a structural change to the system. I don't like all the changes but things have to be allowed to change.

 

I thought you said you wouldn’t read my posts anymore?

 

Why does there have to be a structural change of the content is the same? What is the point? And then to lie about it too...

 

I didn’t publish my statement in the annual report audited by god knows how many very well paid professionals

 

exactly no one cares. Not even the qualified accountants. The CEO can get away with lying in an annual report and have people like you, who have no association with him to defend him.

As I have explained to you several times, please free not to respond or post if it troubles you

 

Ask the Ifoa. See what they will tell you!

If you look at their membership statistics a third of people aged between 36 and 40 are still students. I doubt most will go on to finish, especially due to changes in exam systems. A lot of people give up on the first exams too. It’s hard to say unless the IFoA confirm but I can believe that it is a high number.

 

Hi Infinity,
I have seen your posts and I'm not having a dig at you here, so please don't take this the wrong way.
I definitely sympathize with the impact that exams can have on your life: time, family, social life etc, but a vast majority of us are in the same boat (not specifically in terms of outstanding exams etc, but the impact).
You've elected to voice your frustrations and fair enough, that's your right and choice. However consider this, the amount of time and energy you spend venting here and posting at late hours, could also be considered to be impacting your personal life? I could think of better things to do at 11pm on a weekday night, than go back and forth with someone on an online educational forum.

My advice: just make a decision. Either continue with the exams and focus your energy on passing or consider an alternative route?

End of the day, life is too short to get worked up over pedantic matters. No-one is forcing us to study for these exams, we do that out of choice, and if it's not working, no harm in changing.
I just feel that the primary purpose of these forums is to encourage students to work together (in a study capacity) and to seek support from Acted tutors.

Anyway, that's just my twopence worth.

 

Which ones?

 

Thanks for your advice but I’ve invested too much time in my career to now give it up. I will be complaining until I get an answer from the IFoA.

Rather than have a go at me, please contact the ifoa and ask them for an explanation on how long it takes to qualify and why they’ve lied about the new curriculum not affecting anyone.

As you might have seen in the news, the FRC is being closed down due to their improper behavior.

 

By route, I wasn't solely referring to qualification. Alternatively could change career or just stop with the exams altogether.

 

Not "having a go" at you mate, just highlighting that in the grand scheme of life, this isn't the end of the world..

End of the day, no-one is forcing us to take these exams. I guess the phrase that comes to mind is "If you can't handle the heat, get out of the kitchen".

Anyway, as I mentioned, it's just my twopence worth. Good luck with whatever you choose to do.

 

Great idea. I’m going to become a footballer. I think I’ll be really successful

 

The heat and the kitchen are fine. It’s the cooks that are spoiling the broth.

 

Haha I love it!

 

Haha! I have to say I love the sarcasm!
I think you should run for president of the iFoa. Maybe the campaign slogan could be "To Infinity and beyond"

 

Someone's turned up the heat after promising not to.