The Chartered Insurance Institute is planning to pilot half-credit AFPC
papers in a bid to make the qualification more attractive to IFAs.
A proposal was passed at a CII board meeting last week to offer papers
worth half the credit of existing papers.
The pilot scheme will kick off from April 2001 on the topics of pension
fund withdrawal and investment considerations for pensions.
The CII is hoping that providing the choice of full or half-credit papers
will make examinations more accessible.
It is keen to emphasise that the move will not compromise standards and
that testing will be just as thorough as on existing papers.
Director of qualifications and research Tony Tudor says: “The move fits in
very well with the idea of continuing personal development as most people
studying for AFPC are doing so part time, juggling study with work. This
offers a new route to the same thing and provides advisers with greater
LIA director of public affairs John Ellis says: “It is great news. Pass
rates for AFPC have been quite low. Half-papers will not lower standards
but will encourage more people to study part-time.”
The CII is aiming to raise awareness of financial exclusion through its
educational literature. The initiative follows a meeting with Treasury
Divisional director Freddie Hospedales says: “This issue gives financial
services companies the perfect opportunity to get out and show the public
and the Government that, against all rumours, this profession, as well as
being one of the most successful sectors of the UK economy, also has a
considered social responsibility.”