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The Actuary The magazine of the Institute & Faculty of Actuaries

CA2 changes to entry criteria

During 2008 the CA2 exam came under some scrutiny for the decline in the pass rate since the subject was introduced in 2005. The exam content was revised and exam counselling for the subject was introduced as part of the measures to address this decline.

When the course began, the entry criteria for students to gain a place on the course-based exam were that they had to have a pass or an exemption from the Profession in subjects CT1-8, have one year’s work experience and employer approval.

The criteria were relaxed in October 2006 at the start of the 2006/2007 session to the following: Students are strongly recommended to apply when:

>>They have seriously attempted CT1-CT8 (gaining a Pass, FA, or FB) and have one year’s work experience
>> They have worked through the sample projects on the website
>> They have employer approval.

From the review in 2008, which carefully analysed when students were now choosing to attend the CA2 course-based exam and the pass rates, the Education Committee has decided to introduce the following criteria for entrants:

With effect from July 2010 all students wishing to sit the course-based exam will be required to:
>> Have either passed or been granted an exemption from the Profession for ALL CT subjects
>> Have at least one year’s work experience with an actuarial employer
>> Have approval from the student’s employer

There can be no exceptions to this ruling. This decision has been taken to ensure that students have gained sufficient experience and will therefore be better prepared. The Profession is committed to ensuring that standards for the education of actuaries are maintained and in implementing this change it has fully considered the implications to all students.