Fellowship Exams Twice a Year

[kamek85]

Originally Posted by Colymbosathon ecplecticos

Don't worry, it won't shorten travel time.

I'm pretty sure it will, and I'm certain your views are driven mostly by insecurity and envy of younger students who will have attained Fellowship in less time than you.

[bdschobel]

Originally Posted by limabeanactuary

I'm guessing there will be separate committees for spring and fall sittings, just because of the amount of work involved, as well as scheduling issues.

No, each exam committee will write two exams at the same time. Consistency should be greatly improved.

Bruce

[bdschobel]

Originally Posted by Colymbosathon ecplecticos

It is a terrible idea. Here's how crap like this happens:

1) Somebody decides that this would be a good thing to do. Maybe they failed their last exam and had to wait a whole year to retake it (shocking!).

2) The decision is made by higher ups, but they don't want to be seen to dictate to the workers, so they ask them: "Ignoring any resource issues, would this be possible?" Of course, it is possible.

3) Now the implementation decision is taken, and when the workers point out the lack of resources, they are told: "This decision has been made, you now need to implement it." The way that this is done is to lower quality standards and cut out one or more levels of review.

In reality, travel time increases for many candidates. Before, they could tell their boss, look I know that fall is a busy time for us, but I need to study for a fall exam. Now they are told, "Take it in the spring." In effect, such a candidate now has one sitting per year instead of the two they have today.

Unintended consequences, all because of the lack of imagination of senior management and sloganeering.

This is rank speculation and almost completely wrong. That's simply not how decisions affecting SOA exams are made -- and it's not even close to how this particular decision was made.

Bruce

[tbakos]

Originally Posted by JMO

Offering twice as often makes it tougher on the first-time candidates who compete with those who came close 6 months previously and have spent the next six months refining and polishing their preparation.

OK, I admit it. That's kind of a stretch.

As Bruce indicates later, both exams in a year will be prepared by Exam committee at one time. There are usually plenty of questions to choose from so this may not be much additional work.

If the same exam is offered twice per year, there would, probably, be fewer candidates per sitting, therefore, fewer graders may be required for each grading and, probably, not many more in total for the whole year. The number of graders are determined by the number of candidates.

Yes, JMO, a stretch, I think. Better prepared candidates should mean the passing percentage goes up. The exams are graded to assure minimum adequate knowledge - an absolute standard. Exams are not graded so as to pass only a percentage of the candidates writing. So, better prepared candidates would only mean the passing percentage would go up - no penalty for first time writers (that they wouldn't have had anyway in the old one exam per year structure).

Originally Posted by bdschobel

No, each exam committee will write two exams at the same time. Consistency should be greatly improved.
Bruce

Is that mean E&E committee size (or the question writer pool size) is going to be roughly 2*current size?

[bdschobel]

No, no.

Bruce

[tbakos]

Originally Posted by no

Is that mean E&E committee size (or the question writer pool size) is going to be roughly 2*current size?

Usually (at least when I was an E&E volunteer) the Exam committee volunteers come up with more questions than are needed for one exam. Some may not be used because they are duplicative of material already covered by a question. Those questions are saved for next year (right now). With a 2 per year exam cycle they will be saved for six months and are less likely to be outdated by a changing syllabus or changing times.

[Colymbosathon ecplecticos]

Originally Posted by tbakos

Better prepared candidates should mean the passing percentage goes up. The exams are graded to assure minimum adequate knowledge - an absolute standard. Exams are not graded so as to pass only a percentage of the candidates writing. So, better prepared candidates would only mean the passing percentage would go up - no penalty for first time writers (that they wouldn't have had anyway in the old one exam per year structure).

Amazing. People drink the kool-aid and become PHBs.

Fact: Passing percentages will go down or standards will be lowered. Reason? The cost of failing an exam is now lower (because you can take it again 6 months later; this is an example of a real-world option.)

So, if candidates are better prepared it is because they will be taking the exam multiple times. So much for the lower travel time idea.

[tbakos]

Originally Posted by Colymbosathon ecplecticos

Amazing. People drink the kool-aid and become PHBs.

Fact: Passing percentages will go down or standards will be lowered. Reason? The cost of failing an exam is now lower (because you can take it again 6 months later; this is an example of a real-world option.)

So, if candidates are better prepared it is because they will be taking the exam multiple times. So much for the lower travel time idea.

Please explain your reasoning for concluding that standards will be lowered with more frequent FSA exams.

I don't get how your "reason" given above applies given that exams are graded against an absolute standard that will not change just because exams are offered more frequently. Perhaps you don't believe that?

Are you suggesting that the SOA should go in the opposite direction to improve its E&E process --> that is, give FSA exams less frequently, like once every other year?

[limabeanactuary]

You can take a look at AFE exams and passing rates, if you're concerned. The last couple years, AFE has been given twice a year.