Examination News

Examination Histories

Efforts are ongoing to update examination histories but many records have been affected by the changes to the syllabus. There is no need to resend a request for an amendment to your records if this has already been sent.

September 2006 Examinations

Personalised entry forms for the above examinations are being despatched via our mailing house. These forms may only be used for the September 2006 examinations by the person named on the form.

If you have not yet received a form please use the unpersonalised version which can be found on the website. Please ensure your full name, address and ARN are included. Without the ARN your examination entry form cannot be processed.

The closing dates for receipt of entries are:

Overseas: 17 July
UK & Ireland: 7 August

A list of available centres is included in each set of entry instructions. This will be updated regularly as new centres become available up until Friday, 7 July 2006. Requests for new centres WILL NOT be accepted after this date.

We would like to remind you that it is your personal responsibility to ensure that we have received your examination entry form by the closing date. We aim to acknowledge all entries within 10 working days of receipt. Please note that we are unable to accept late entries and therefore it is essential that you call the Exam Entry Hotline number +44 (0)1865 268259 before the closing date.

September 2006 Examination Dates

Key Dates for 2007

2007 examination dates

April

September

Subjects CA1 and CT4 Joint Papers

Work-based Skills

PLEASE BEAR IN MIND THAT FELLOWSHIP CANNOT BE ATTAINED UNTIL THE WORK-BASED SKILLS CRITERIA HAVE BEEN MET.

Work-based Skills takes a minimum of three years to complete and with some of you well underway with your exams, qualifying will not be possible without completion of Work-based Skills where it is applicable.

Any problems or concerns please e-mail wbs@actuaries.org.uk.

Special Overseas Rates

Careers Committee

Business Awareness Module and Modelling Module

Please help ensure you can attend the date and venue of your choice by applying as soon as you are eligible.

Business Awareness Module Course Dates

The dates of courses for the rest of 2006 are as follows:

Students are reminded that they are expected to take the Module within 18 months of joining the Faculty or Institute. Further information is given on the website. If this does not answer your query, please e-mail bam@actuaries.org.uk.

Modelling Module Course Dates

The dates of courses for the rest of 2006 are as follows:

Please note that the course arranged at St Catherine’s College for 17/18 August is intended for NEW applications.

Eligibility for Modelling Module – change to the requirements

We have received several requests from employers to allow students to apply for the Modelling Module while they are awaiting the results of Core Application subjects.

We do not want to hold students back from taking this module, once they have the necessary background knowledge to be successful. So, we have softened the criteria to allow students to apply, with the approval of their employer, while awaiting the results of CA1 and/or CA3. The criteria have been changed to:

• Students are encouraged to apply, with the approval of their employer, when they have seriously attempted CT1–CT8, CA1 and CA3, or their earlier equivalents, and have worked through the sample projects and considered the other relevant material on the website.
• Students must have already gained an exemption, pass, FA or FB in subjects CT1–CT8. For subjects CA1 and CA3, the same criteria are recommended but students can apply whilst they are awaiting the results from either, or both, of these subjects as long as their employer is happy that they are ready to take the module.

Further information is given on the website. If this does not answer your query, please e-mail modelling@actuaries.org.uk.

Overseas Students

Students who are based overseas are encouraged to attend courses in the UK or one organised by their local actuarial society. Contact details are given on the website.

Several local societies are planning to offer courses. The Actuarial Society of South Africa will be running both Business Awareness and Modelling Modules in July this year. The Actuarial Society of India is planning to run its first BAM course in July this year; the Singapore Actuarial Society is planning to run its first Modelling course in August this year. The Society of Actuaries in Ireland has taken the view, at least for the time being, that students there should attend a UK course for BAM in order to give them a wider choice of dates.

Students successfully completing a course overseas will then apply (and pay) for an exemption in the same way as for other subjects.

We are developing a distance learning version of each module aimed at students who cannot attend a face-to-face course. It is intended to launch these later in the year.

Preparation for the Business Awareness Module and Modelling Module

The two modules were introduced because employers and users of actuarial services wanted the actuarial qualification expanded to create more “rounded” actuaries with improved:

• communication skills
• business understanding, and
• teamworking skills

to complement the highly valued technical skills.

This was reconfirmed in the Profession’s recent research for the current Strategy Review. Both modules involve the need for students to prepare well before attending the course so that they are ready to participate fully in the discussions and group exercises, applying what they have learned and developing their “softer skills” in communication, business understanding and teamworking.

In particular, the courses involve interactive sessions, team tasks and group discussion followed by presentation of results and ideas to the wider audience. These softer skills form an important and integral part of the learning experience in conjunction with the more formal assessment at the end of the course.

Students are reminded that the emphasis of the modelling module is on the appropriate communication of the audit trail and summary of approach and results. Students are expected to come to the course competent in spreadsheet modelling and word processing, building on their audit and communication skills during the course. The material worked on during the course, including the examination assignment, can use material from any of the earlier subjects.