Business awareness (Subject CT9)

Business awareness (CT9) has been designed to help you understand:

• The business environment you will be working in, including the related challenges
• How to tackle business related problems
• Your professional responsibilities
• The need to equip yourself for lifelong learning

The main content of this practical exam involves a two day residential experience. The programme for the two days is available, and a summary of the subjects covered is given below.

Please note that in order to pass this practical exam you must be in attendance for the entire two days. You must not be late for sessions, or request to leave early as this will be treated as non-attendance.

It is recommended that you take this exam within 15 to 18 months of joining the profession, assuming that you have the necessary work experience. Successful completion of this exam is a requirement of qualification for those joining the Institute and Faculty of Actuaries from 1 July 2004.

All students joining on or after 1 March 2012 will need to have passed the Professional Awareness Test before they can take Subject CT9.

All the application forms and information that you will need are available via the links on the right. Application forms are only available during the booking periods.

You can get further information on all practical exams by emailing practicalexams@actuaries.org.uk

The format of Business awareness

This practical exam can be taken as either a two-day face-to-face exam, or as an online version.

• The face-to-face version of CT9 involves pre-exam study followed by a two day residential exam which includes discussion sessions and a business game. There is also an online multiple-choice exam after the residential element
• The online version of CT9 involves pre-exam study, an online business game, a set of written exercises, and an online multiple-choice exam. The business game takes place in short daily sessions over a ten working day period.

What does Business awareness cover?

• Industry developments and challenges - an overview covering all practice areas
• Strategic thinking - case studies and problem solving techniques
• Business game - supporting the learning objectives of the course
• Professionalism and ethics - principles and case studies
• Personal development - an overview of lifelong learning and work based skills
• Legal principles

Based on this you will need to do some advance study, which should take approximately 20 hours. This consists of:

• Online tutorials
• Reading material to prepare for the business game
• A case study to analyse on strategic thinking

It is essential that you carry out all the advance work.

Following the two days you will need to do a further 10-15 hours of online tutorials and study. This must be completed before you take the online exam.

The formal exam will be available to you on the Friday two weeks after attending the two day practical exam, and should take less than two hours to complete. You need to pass this exam in order to pass CT9, demonstrating that you understood the principles covered during the two days and in the online tutorials.

Applying for the exam

You will only be able to apply during the open booking periods. Please read the practical exam policies and instructions available on the right, before you apply. An online version of CT9 is available for overseas students.

There are various ways that you can enter during the booking period:

• Enter online by logging in to your personal account if you are paying by card. This will give you greater access to the current dates and locations
• Download and complete an application form from the right, and return it to us

At the moment we cannot take online bookings for the online exam version, and you will need to complete and return the application form.

There have been instances of unprofessional behaviour from students at this practical exam. Poor conduct may result in dismissal from the exam, which we will treat as a disciplinary offence.

Waiting list

Students who already have a confirmed place on a practical exam can register on a waiting list for earlier places. You will need to complete and return the form available on the right, indicating your preferences for time and location, though we can not guarantee to meet these.

Where will the CT9 exams take place?

Exams are being scheduled to be held at the following venues:

For those unable to attend a face-to-face exam the online version of CT9 available.

Email communications

We correspond with students via email, and all pre-exam work will be emailed to your preferred email address.

We have experienced an increased volume of reports of the non-receipt of emails sent to Hotmail accounts. It is your responsibility to check your inbox regularly (including the 'Junk email') and inform us if you have not received the necessary information or material. Alternatively, please login to your membership account and provide an alternative preferred email address.

Results

Pass lists are published on the first working day of each month providing a student passes the exam within a time frame spanning over two months.

For example if a students passes the exam between the period 26th January - 25th February, their name will appear on the pass list that is published on 1st March.