IFoA Actuarial Exams are now closed book - what does it mean for you?

I received an email on Monday 7th October detailing exam changes for the next Institute and Faculty Of Actuaries (IFoA) exam sitting in April 2025. This was an extensive email addressing Exam Integrity and Exam changes. Let's get into it.

Background

Exams have been online since COVID with April 2020 being the first sitting where exams were online only and not at "in person" exam centres. Since then, exams have been online only, open book, with no proctoring (invigilation) and staggered exam start times. There are many opinions as to whether this is good or bad for students and the profession. On the one hand it might be easier for students to pass exams, on the other hand exams are made harder as a result. Bookwork questions were phased out and more higher level questions were asked, which requires the student not to rely on or copy the notes, but to use tools to give an actuarial viewpoint or discussion to tackle problem type questions. There were also reports of widespread cheating allegations once the exams moved online. These allegations were addressed by the IFoA and the IFoA did their best to convince abiding students that they would not be disadvantaged.

What are the changes?

1. The exams will now be proctored (invigilated):
   This means someone will be watching you via your webcam and listening to you via your microphone.

2. You will have to identify yourself:
   Meaning you will have to show your ID before the exam takes place.

3. The exams will now be closed book and closed web:
   You cannot use your notes or look up material on your computer.
   You will only be able to use one application and one website, i.e., the exam site for the duration of the exam.

4. The exams will all begin at the same time.
   This removes the staggered start times of exams.

Why might have these changes been brought in?

There has been a lot of discussion on these changes already. Notably on the ActuaryUK reddit. Let us first address why these changes may have been brought in.

1. Proctoring has already been implemented in other professions and it was only a matter of time before the IFoA followed suit. This change may have been brought about because of cheating allegations. This move would make it much harder to cheat. I like this change and was surprised it was not brought in earlier. There are some concerns about having to be in view of the webcam at all times, but I'm sure they will make allowances for going to the bathroom once or twice in a three hour exam.

2. Identifying yourself is a simple but effective change when coupled with proctoring. This means someone cannot sit an exam on behalf of someone else which makes sense.

3. This is an unusual change as it represents a huge pivot for the IFoA. Exams were becoming increasingly about higher order skills and less about recalling bookwork. The closed web aspect maybe being brought in to prevent the use of AI in answering questions, which is understandable. Closed book is perhaps a move to less higher order skills and an attempt to prevent copying of notes.

4. This one is a no brainer, there is no reason not to start all exams at the same time. Staggering exam times just opens up an unncessary can of worms.

What these changes might mean for you?

Initially I don't expect much difference in the exam papers, but a return to more bookwork type questions is very likely. Although, this does not mean that there will not be a fair share of higher order questions. Therefore, past papers are still going to be relevant, as is the use of application. Open book exams put more emphasis on understanding the question and picking the right bookwork to match the question. Closed book will be a difficult adjustment as it relies a lot on memory recall. I believe understanding the content in depth and having a strong knowledge base of the subject will be a requirement from now on. The first sitting will be hard for everyone to begin with.

In terms of actually sitting the exam, proctoring is not going to be a big difference. (This is assuming you were sitting the exam fairly to begin with.) In this regard, whether someone watches you or not is not going to have an affect on you writing the exam. The only issue may be IT or operational issues, which is a stress that can be done without. This will likely iron out after one or two sittings.

My thoughts

I am not a huge fan of exams. It is stressful and perhaps not a true reflection on people's ability to do their professional work. However, having said that, I do believe actuaries should have a strong knowledge base which can be tested through examinations. I have ideas on how to improve exam papers but that is a topic for another day.

I believed that open book was a good idea. This is because bookwork questions were a thing of the past and the emphasis was much more on application and higher order skills. The return to closed book goes back on this and will likely retest bookwork. This seems like a poor move to me. No one in the professional work place operates in a closed book environment.

Proctoring, ID checks and same exam times all make sense to me and I believe these are good changes. However, the IFoA may yet backtrack on these changes or find some sort of middle ground, as has been the case in the past. For example, new exam systems aimed for April 2024 were delayed. A nice middle ground could be open book with proctoring, but this has its own challenges.

Overall the changes are mixed, both positive and negative, in my opinion. For students, it remains to be seen whether the IFoA will commit to the changes, and even if they do commit, there is a likelihood the exam system and/or syllabus will change yet again over the period of you sitting exams.