The Chartered Insurance Institute has lost 35 advisers’ exam papers and told those affected they will have to resit their exams.
Last week, the CII emailed the 35 advisers, who all sat the CF5 integrated financial planning exam in April and were expecting their results on May 6, to tell them their exam papers had been mislaid.
The CII says the parcel containing the written exams was collected from its offices by courier to be delivered to an examiner but was not scanned in at the courier’s collecting depot.
The CII says the papers are unlikely to be found and the exam will have to be retaken.
Advisers have been entered into another sitting at no charge and will be refunded their exam fee.
A CII spokesman says: “It is very disappointing that this has happened. We had to make allowances in the event that the missing papers do not turn up. We will ensure this does not happen again.”
Asset & Investment Management is one of the affected firms. Paraplanner Vincent Wong says: “This is absolutely appalling. Advisers are under enough pressure as it is. We hope that such costly and time- wasting mistakes can be avoided in future.”