We have a bank system. We start off with 40 study days in the bank and can spend them how we like - within reason - nothing to be taken monday morning or friday afternoon and we need to be negotiable in times of heavy work.
For each 100 series exam I believe we got 8 days back, 12 days for a 300 / ST.
This seems a reasonable system as it encourages responsible use of study periods, rewards you for passing the exam and if, horror of horrors, you ran out of study bank it would give your employer an indication that you aren't passing the exams at an acceptable rate.
My employers are ex-SNL actuaries, now part of Mercer's so it would not surprise me if the situation was similar over there - although others with direct knoweldge may well know better.
Last edited by a moderator: Nov 18, 2005