A meeting was held for CPD Co-ordinators to introduce the new way of examining professionalism for actuaries. Initially only those who join the Institute after May 2012 will be subject to the new exam and those within 6 years of joining or who qualify whichever is first. No decision has been made about how to examine experienced fellows.
As this years chairman of the Argonauts Actuarial dining Club, I am delighted our concerns (and lobbying) have been taken into account. Having an online exam takes away the requirement for those not in traditional actuarial employment to take a days holiday to sit an exam. It will also Im sure be welcomed by those in traditional organisations that the exam can now be taken in what would otherwise be wasted time such as waiting at airports.
The on-line exam has had input on the technical side from Leeds University’s ethics dept.
Going forward I would like to see more emphasis in the other exams and tutoring on the long term consequences of decisions-especially those in the public interest. Traditionally actuaries dealt with pensions and life assurance which automatically made them think of long-term consequences-now that they have moved into wider fields more emphasis must be brought to bear on this during their training.
Dr. Geraldine Kaye