It was remarkable to see that the pass mark in the July 2003 sitting of the savings and investments exam was 70 per cent. Clearly, the exam is proving popular, with many IFAs keen to sit it.
Having sat the exam in July, my only concern is that the multiple-choice nature of the exam makes it less credible than other AFPC exams. While the exam had a handful of very difficult questions, overall, the multiple-choice format makes it easier and perhaps more profitable for the CII to mark.
I studied for G60, which was a quantum leap over the level of knowledge required for FPC. It is important for the industry to maintain the high standard required for any AFPC paper, be it a half or full credit. I do not feel multiple-choice is right for AFPC. SV1 needs to be a full written paper like other half credits K10 and K20, where the knowledge and understanding has to be produced from scratch. This is the only way we can aspire to the same professional standing as solicitors and accountants.
Manjit Singh IFA broker consultant, Biggleswade, Bedfordshire