CII draws up its alternative assessment
Share
The Chartered Insurance Institute has revealed details of its RDR work-based assessment, which will include an assessment day involving a case study, scenario discussion, role play and a technical interview.
The CII says the current model is still under development but will be piloted in September. It says the costs will be “significantly greater” than the written exam route, although these have yet to be decided.
It will incorporate two components, one involving evidence submission, which will allow advisers to disclose previous qualifications and provide evidence of continuing professional development.
This will be followed by an assessment day which will include a short knowledge test, professional discussion, a case study, scenario discussion, role play and a technical interview with an independent assessor to establish equivalent knowledge and skill levels.
The CII says the alternative assessment is designed for experienced advisers, who will need to demonstrate achievement of all the learning outcomes identified in the QCF level four standards.
It is developing a trial assessment tool to ensure candidates are comfortable with the level of knowledge and skills required to pass the full assessment day.
Director of financial services markets Steve Jenkins says: “Details of the cost of the alternative assessment are still to be completed but we hope that by sharing our work to date we can gauge the level of interest from the market.
“What is clear is that because it is conducted on a one-to-one basis, the cost of alternative assessments will be significantly greater than the traditional written paper diploma examination suite.”
Roger Heath Associates chief executive Roger Heath says: “I am almost 60 and my exam technique and skills are a long time forgotten. I think this sounds like a good option for advisers in my position.”
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
View results 10 per page | 20 per page
Readers' comments (17)
Paul Veitch | 31 Mar 2010 4:07 pm
Strange that the first issue mentioned is the cost, makes you wonder what is driving this whole nonsense.
Unsuitable or offensive? Report this comment
Tim | 31 Mar 2010 4:11 pm
If poor old Roger Heath is worried about his exam technique at 60, I wonder what makes him so confident about his role play- maybe he's a friend of Max Mosley??
Unsuitable or offensive? Report this comment
Anonymous | 31 Mar 2010 4:11 pm
Before I entered financial services I was a practicing part qualifed cost & management accountant. I also had a Diploma in Business Studies. I applied for prior learning accreditation 12 months ago to the CII & they are still messing me about asking for ever more information from me regarding training and exams I took many years. I'm furious as I'm busy trying to earn a living & studying for more JO exams!! So last night in reply to yet another email from yet another person now looking at my application I sent them an email lodging a formal complaint about how my application had been handled. As my prior training gave me a good background to financial services I passed FPC 1, 2, & 3 at the same time. It was hard going but I passed first time!
I'm just studying J02 Trusts at the moment & I can honestly say amongst all the quagmire of technical gumph an adviser has to trail through, I can honestly say about 2 paragraphs of the entire syllabus will ever add value to the advice I give clients...
And interestingly enough the 2 types of trust that IFA's use in financial services ie. Dicounted Gift Trusts & Loan Trusts...are not covered in the CII J02 syllabus!!!
Madness yet again...
Rant over
I hope this alternative route is not just a money making exercise with built
Unsuitable or offensive? Report this comment
Anonymous | 31 Mar 2010 4:16 pm
a fudge and a slap in the face for all those who have worked so hard to pass exams. In any other reputable profession there is no such alternative.
Unsuitable or offensive? Report this comment
Anonymous | 31 Mar 2010 4:21 pm
The non-profit making CII are at it again I see. 'Let's exploit these poor unfortunate fools while we have the chance'
Unsuitable or offensive? Report this comment
Anonymous | 31 Mar 2010 4:33 pm
Will these old men stop bleating and get the exams.
If you are not good enough to do the exams - get out of the industry and let the ones that know what they are doing get on with things.
From an already diploma qualified adviser - who also dislikes exams, but worked hard to get them!
Unsuitable or offensive? Report this comment
Anonymous | 31 Mar 2010 4:56 pm
Once again we get two polarised views on exams, we have the advisers who have passed exams who seem to think passing an exam makes them a better adviser than one who has not, and we have the adviser who has a wealth of experience who cannot face exams who feels experience should count for not sitting exams. Surely the answer is the middle ground, we all need to sit some form of exams and studying and past experience should also gain an individual some credit and I believe that the proposal on paper appears to have a lot of merit. We need to stop this bickering about I'm better than him nonsense because I have exams and all work together to have one cohesive strategy about how we all stay in the industry whilst improving our professionalism both in the public domain and with other professionals.
Unsuitable or offensive? Report this comment
Anonymous | 31 Mar 2010 5:56 pm
Anon 4.56.
Please would you apply to be head of the FSA.
Your comments are the best I've seen and totally agree with.
Well played.
Unsuitable or offensive? Report this comment
Anonymous | 31 Mar 2010 7:18 pm
To me it says it all when Roger Health says"my exam technique and skills are a long time forgotten" as I have question what else he has forgotten, as the exams are about your knoweldge.
I wonder how many people imagine that this assessment will be the solution to sitting and passing exams which are frankly are not hard if you do the study and have a good working knowledge of the areas your are to be examined on.
Unsuitable or offensive? Report this comment
Martin Smith | 31 Mar 2010 7:46 pm
One of my favorite quotes by Warren Buffett sums it up perfectly…
“In evaluating people, you look for three qualities: integrity, intelligence, and energy. And, if you don’t have the first, the other two will kill you.”
Unsuitable or offensive? Report this comment