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PART III RESULTS SEMESTER 1 2014

In Semester 1 2014 the new computer-based exams were used for the first time for Global Retirement Income Systems, as well as Life Insurance, General Insurance and Investment Management and Finance (which had used the new exams in the previous semester).

The overall pass rate, including the UK ST9 ERM, UK STI Health and Care and ASSA F101 Health Principles exams, for Semester 1 2014 was 35%. This was the same as the previous semester.

The pass rates over the last 10 semesters, including the UK ST9 ERM and UK ST1 Health and Care and ASSA F101 Health Principles exams follows.

2014

(1)

2013

(2)

2013

(1)

2012

(2)

2012

(1)

2011

(2)

2011

(1)

2010

(2)

2010

(1)

2009

(2)

35% 35% 41% 39% 37% 33% 36% 40% 40% 40%

 

It was pleasing to see increases in the pass rate on the previous semester in three courses: Global Retirement Income Systems, General Insurance 3A and Commercial Actuarial Practice. Pass rates dropped slightly in Life Insurance 2B and General Insurance 3B. It was disappointing to see particularly significant decreases on the previous semester in Life Insurance 2A and Investment Management and Finance 5B.

Opposite are the pass rates for each course in Semester 1 2014 compared with the previous four semesters.

Course

2014

(1)

2013

(2)

2013

(1)

2012

(2)

2012

(1)

2011

(2) 

Course 1 Investments

n/a n/a n/a

42%

30%

31% 

Course 2A Life Insurance

26%

42%

52%

33%

33%

20% 

Course 2B Life Insurance

37%

39%

26%

40%

25%

15% 

Course 3A General Insurance

26%

18%

32%

30%

28%

23% 

Course 3B General Insurance

26%

27%

35%

38%

38%

31% 

Course 5A Investment Management and Finance

n/a

51%

n/a

57%

n/a

62% 

Course 5B Investment Management and Finance

29%

n/a

57%

n/a

59%

n/a

Course 6A Global Retirement Income Systems

60%

n/a

42%

n/a

31%

n/a

Course 6B Global Retirement Income Systems

n/a

41%

n/a

21%

n/a

63%

UK ST9* Enterprise Risk Management

30%

22%

40%

33%

37%

26%

UK ST1 Health and Care

36%

10%

45%

38%

38%

 n/a

Course 10 Commercial Actuarial Practice

60%

58%

53%

56% 57% 55%

* pass rates for UK ST9 above are for non-Fellows only. The pass rates for Fellows in the UK ST9 exam have been as follows:
Semester 1 2014: 6 sat, 2 passed, (33%). Pass rate for all members 30%.
Semester 2 2013: 6 sat, 2 passed, (33%). Pass rate for all members 39%.
Semester 1 2013: 3 sat, 0 passed, (0%). Pass rate for all members 39%.
Semester 2 2012: 4 sat, 2 passed, (50%). Pass rate for all members 33%.
Semester 1 2012: 6 sat, 4 passed, (67%). Pass rate for all members 39%.
Semester 2 2011: 7 sat, 2 passed, (29%). Pass rate for all members 26%.

PASS RATES AND EXAM CENTRES

This analysis of the overall Part III pass rates in different locations excludes the UK Part III exams.

Location

2014

(1)

2013

(2)

2013

(1)

2012

(2)

2012

(1)

Sydney 37% 34% 41% 37% 34%

Melbourne

39%

31%

38%

38%

45%

Other Australian

33%

57%

41%

59%

29%

Overseas

37%

35%

47%

36%

30%

 

The pass rates across the main exam centre categories were very similar in Semester 1 2014. The Sydney and Overseas pass rates were the same as the overall pass rate. The Other Australian category was slightly lower with 33%, with the pass rate for Melbourne being slightly higher at 39%. This is broadly similar to the previous semester, with the exception of the Other Australian category, which was significantly higher last semester.

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