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Exam Test Candidate

The Institute and Faculty of Actuaries (IFoA) appoint appropriate individuals to review proposed exam papers and associated marking schemes, referred to as Exam Test Candidates (ETCs).  We are seeking to increase our bank of ETCs which we draw upon each year to undertake this review.

ETCs are appointed by the IFoA to help maintain the standards of the IFoA.

Current vacancies

We have now finished recruitment for Exam Test Candidates for the 2022 paper setting. You can register an expression of interest for the 2023 paper setting below.

Future vacancies: register your interest

Complete the expression of interest form

Task Specification

Background

The IFoA is the UK’s only chartered professional body dedicated to educating, developing, and regulating actuaries based around the globe. We have a worldwide membership of over 32,000 of which over 51% are student members. 47% of our membership and 66% of our students are based outside the UK, reflecting the increasingly global nature of actuarial practice.

The IFoA qualifications comprise of a number of modules and related assessment subjects.

ETCs are engaged to review, comment and provide feedback to the IFoA on new assessment material and are a vital part of the exam process.

ETCs are expected to:

  • take part in a conference call to discuss specific considerations to be made during the review of your allocated subject materials (if necessary)
  • review all reference material provided, including but not limited to – core reading, syllabus, Exam Test Candidate (ETC) handbook, and instructions from the setting team in advance of receiving your assigned exam paper
  • keep confidential all documents received and take measures to keep all documentation linked to the examination secure at all times
  • review the first draft examination material checking all aspects of the document in accordance with the process requirements as set out in the ETC Handbook
  • submit an ‘honest  attempt of the exam paper, sat in true exam conditions – no access to reference material – supervision is not required
  • provide constructive comments in the feedback form provided
  • review the marking schedule after you have submitted your completed attempt
  • compare your answers with the marking schedule to analyse any potential issues, highlighting potential problems in both the exam paper and marking schedule
  • complete all documentation and return by the agreed deadline
  • be available if required to discuss comments with the Chief Examiner.

Person Specification

The ETC will be someone who:

  • is qualified as an Associate or Fellow no longer than 2 years since their last exam sitting. In the case of an Associate member – In this scenario, the person would only be able to perform the role of ETC for subjects which they have already been examined and passed.
  • have passed all the required examination for Associate or Fellow and is yet to transfer their status.
  • has a sound knowledge of the chosen subject area and is able to consider the needs of our students with cultural and language differences
  • has good time management skills and works well to tight deadlines
  • has good attention to detail

Tenure

ETCs are appointed to the bank for up to two years following the date that their last exam to qualify was passed. For non-members, the tenure will be up to a maximum of four years or lapse if they become a student member of the IFoA, whichever is sooner.

Time Commitment

The main volume of ETC work takes place during the end of September / beginning of October each year.

ETCs will need to allocate time to prepare and this will vary for each individual.  Core Reading will be provided in advance and will need to be reviewed with particular attention to areas that are less familiar.

You should allow between 10 and 12 hours to complete the task. A week is given to complete and return your feedback.

This is a remunerated role and a fee will be paid

Mutually agreed services will be outlined in a ‘Schedule of services’ which will be provided to you on successful appointment.  On successful completion of the services, you will be required to submit an invoice to the IFoA.  The IFoA will provide you with a template invoice to use, and this invoice will be processed by a member of the IFoA’s Assessment team.  If you wish to view the ‘Schedule of services’ and the applicable terms and conditions, prior to expressing interest in this role, please contact the Quality team.  Please note that this role is classified as a ‘Self-Employed Contractor’.

Additional Information

The IFoA delivery team is made up of IFoA Executive staff and our volunteer community.  Every individual who supports the IFoA, is valued, and are recognised, as part of our volunteer community and works in partnership with the IFoA Executive staff to deliver our strategy and Royal Charter, in line with our values 

At the IFoA the term “volunteer” includes volunteers (members and non-members: lay), Office Holders, and Self Employed Contractors (paid roles).

Volunteering provides you with a wide range of opportunities.  With all rights and opportunities come responsibilities and we ask all our volunteers to comply with the terms of the IFoA’s Governance Manual and Volunteer Information Pack (VIP).  Please view our ‘what you need to know’ webpages before offering to provide support.  The key elements will be highlighted to you as part of your contract for services with the IFoA.

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E.g., 10/08/2022
End date
E.g., 10/08/2022

Events calendar

  • Spaces available

    This session will focus on the transformation roadmap of the healthcare sector in KSA and the role of actuarial capabilities in enhancing its evolution to the desired end stage as per the objectives of the Vision 2030. The discussion will focus how the system has evolved so far and shed light on  the expected future changes. Through examining  the transformation, we will highlight how the sector is and can use actuarial  expertise to not only assist with this transformation but also use basic actuarial principles to identify the key risks and their respective mitigation strategies.

  • Spaces available

    The purpose of this research paper is to explore enterprise risk management lessons which can be learnt from the Covid-19 pandemic in preparation for potential future pandemics as well as other “gray rhino” or “black swan” events. This paper is not intended to be an all-encompassing solution to the issues presented by Covid-19; rather, the content has been provided to help drive discussions regarding how risk management processes may need to evolve in line with the dynamic nature of the underlying risks that they sometimes need to capture.

  • Spaces available

    This session is for new candidates and existing candidates where we will be discussing the practical steps you need to take leading up your exam and on the day. We will be discussing how to testing the online exam platform, downloading and uploading your paper and key information from the Exam Handbook.

    The exam webinar is for candidates, new to IFoA exams and returning candidates, sitting in the September 2022 exam session.

  • Spaces available

    The role of Non-Executive Directors has become increasingly challenging and critical over the past few years.

    Big picture thinking, Governance knowledge, Independent mindset, Ambassador potential and Energy and commitment: these are the essential skills sought in a successful NED, according to the Chartered Governance Institute (UK & Ireland).

    In parallel, Environmental, Social and Governance (ESG) criteria are increasingly key and used by investors to measure the sustainability and ethical impact of investing in an organisation.

  • Spaces available

    This webinar will cover:

    • Some background on the risks of misselling in an ESG context, including the DWS case

    • Achieving positive impact is a strong antidote to the risks of greenwashing or ESG misselling, however this risks having a tension with fiduciary responsibilities

    • This tension can be resolved with a concept called Universal Ownership

    • Under Universal ownership, investors have an appetite to make a loss in order to achieve positive impact, and yet still have no compromise on their fiduciary responsibilities

  • Spaces available

    In the UK, the idea of collective defined contribution (CDC) pension schemes is gaining more attention with the launch of the Royal Mail CDC scheme, the first of its kind in the UK. Our recent research on CDC plans investigates the sources of the putative benefits of CDC schemes: the smoothing of pensions for members.  Using an attribution analysis to burrow into the scheme design, the reason for the smoothing of members' pensions is explained and understood.

  • Spaces available

    The IFoA's Infrastructure Working Party, led by Chris Lewin, will present its new introductory guide to infrastructure investment, which will be published on the IFoA web-site prior to the webinar.   Those readers whose institutions have already taken the plunge into infrastructure will know that it is a highly complex and diverse field of activity.   This guide does not explore all the matters which investors take into account, but it does discuss many of the more important points, including the risks and past returns, benchmarking, and ESG and SDG considerations.    Attendees will be invi

  • Social Care Agenda

    11 October 2022

    Spaces available

    Social care reform has long been on the to-do list for successive governments over the last two decades. In February, the government’s proposed reforms to adult social care [including cap on care costs] was published. Against this backdrop of funding promise and rising National Insurance taxation, in this session we will debate the resilience of these new proposals, the impact of future demand for care services and what role for the insurance industry and the important role it has played in long-term care funding in other countries where public-private partnership works.

  • Spaces available

    Health contributes to happiness at the personal, family, community and societal level.  Health, importantly underpins all our economic security. This talk will explore the drivers of our health, the measurement of health and the steps we can take to improve health – most of which lie outside the NHS.

  • GIRO Conference 2022

    ACC Liverpool  
    21 November 2022 - 23 November 2022
    Spaces available

    We are delighted to announce the return of GIRO as an in-person conference, giving you an opportunity to connect with actuaries in your practice area. Join leading experts to discuss key issues, emerging ideas, and new research across the General Insurance sector.

  • Life Conference 2022

    ACC Liverpool Kings Dock Liverpool Waterfront Liverpool Merseyside L3 4FP
    23 November 2022 - 25 November 2022
    Spaces available

    Life Conference returns as an in-person conference in 2022, giving you an opportunity to connect with your peers and fellow actuaries in your sector, in person. You will also hear leading experts discuss key issues, emerging ideas, and new research across the Life insurance sector.

  • Spaces available

    Mortality and morbidity risk varies by variables such as age, sex and smoking. In traditional actuarial experience analysis, these variables, and certain combinations thereof can be explored. However, with the wealth of data now available it is becoming increasingly challenging to identify the key drivers of experience and account for the interaction between different variables. A univariate approach often compares apples and pears, for example males are more likely to smoke and have larger policies than females. Likewise, variable interactions are missed unless specifically included.