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Update: A global adjustment was made to the pass mark for the CP3 exam.
In light of the technical issues experienced by candidates sitting the September CP3 exam, the matter was referred to the Board of Examiners for further consideration.
It was concluded by the Board that the extent of the problem was significant enough to consider implementing a global adjustment. An adjustment was agreed, and resulted in the pass mark of the CP3 exam being reduced to 58.
About this event
The IFoA’s Actuarial Research Centre (ARC) is convening a research event on the subject of Periodical Payment Orders (PPOs) in late February 2019.
Last month saw the launch of the second year of the AMP. Over 100 people attend the launch event at the Pension Insurance Corporation offices in London, which included a Masterclass and panel discussion hosted by Sarah Winckless MBE.
During some of the most turbulent months the government has seen, the IFoA has still been making an impact in Parliament. This time showcasing our research on the Sustainable Development Goals (SDGs) and climate change. In November, a debate was held to discuss the progress made across government departments in integrating the Universal Sustainable Developments Goals into domestic policy in preparation for the United Kingdom’s Voluntary National Review presentation at the United Nations in September 2019.
Claire Jones, Chair of the IFoA’s Resource and Environment Research and CPD Committee, reports on a recent sessional meeting.
The New York state attorney general is suing ExxonMobil in a landmark case about climate change disclosures. The suit claims that the company made “materially false and misleading” statements to its investors about the risks posed to its business by climate change regulations. The case is especially significant because it’s not about the physical risks of climate change, but is focused on the transition risks, and because it reinforces the likelihood of climate-related liability risks.
The on-line actuarial journal Risks will produce a special edition on this subject, and is currently soliciting articles.
The IFoA believes Frank Redington's remarkable achievements make him a worthy nominee to feature on the UK's new £50 note.
The Financial Reporting Council, who are responsible for setting standards on technical actuarial work in the UK, are seeking views on their Actuarial Statement of Recommended Practice 1: Financial Analysis of Social Security Programmes. Technical actuarial work related to Social Security Pensions was identified by the FRC as representing a high level of risk to the public interest.