Part III Orientation session

1
Part III Orientation session

• June 22, 2006
• Presenters
• Ken Guthrie (Director, Professional Education)
• Don Johnstone (IAG)
• Dennis Mosolov (Ernst and Young)

2
Session outline

• Overview of Institute Education Program and
  services
• Distance Education at a glance
• Part III education process
• Myths and Facts
• Student feedback from 2005
• Chief Examiners perspective
• Recent qualifier perspective
• Any questions you have?
• New website and assignment process

3
Overview of Institute Education

• Part I
• Part II
• Part III
• 4 modules
• CAP residential
• PER
• Professionalism Course
• (for more info on the new Part III program go to
  the Insights presentation in the Education
  section of the Institute web site)

4
What to expect for Part III

• Tutorials (3-4 per semester)
• Discussion forums (managed by Course
  Leaders/Fellows)
• Web support (past exams and assignments, BoE
  reports, reading material, access to reports etc)
• Two Assignments and one Examination
• Access to Institute staff via email
• Study groups (formal/informal)?

5
Assessment Process

• Assignments
• (10 each)
• Developed by Course Leader
• Reviewed and scrutineered by Faculty
• Final changes made and approved
• Marked by Fellows and sample marked by Course
  Leader

• Exams (80)
• Developed by Course Leader and Chief Examiner
• Scrutineered by 2 Fellows
• Final changes made and approved
• Double marked by Fellows
• Borderlines reviewed by Chief Examiner

6
Part III Policies and Procedures

• Handbook (available on web)
• Fee relief
• Special consideration
• Students with disabilities
• Chief Examiners reports
• Temporary exam centres
• Academic honesty
• Withdrawal from subjects

7
Traditional vs Distance Ed
8
What this means for you

• Greater responsibility for learning
• Less structure to study
• Imbalance of life roles (competing)
• Increased individual pressure
• Less contact with others (more isolated)

9
What you can do to help

• Be sure to get your mentor involved with your
  education (regular meetings)
• Try to form links/study groups with people
  (tutorials, forums, work)
• Discuss requirements with work
• Be familiar with the web support mechanisms
• Set up a study routine and stick to it !

10
Who are the Part III students

• Over 70 based in Australia
• Over 450 enrolments each semester
• Majority work in General/Life Insurance
• 95 have completed Part I and Part II
• 40 spend 11-15 hours per week studying Part III
  (60 spend 11-20 hours)
• Average time to complete Part III is three years
• 40-50 new fellows qualify each year

11
What do students say about Part III

• tutorials are helpful, especially dealing with
  past exam papers
• a lot of material to cover in a relatively short
  period of time
• the exams focus on your ability to apply general
  principles in various situations
• when I did assignments I put my study on hold
  for a few weeks
• I wish I had spent more time practising past
  exam papers
• the time frame for the study is quite tight

12
Advice from 2005 students

• take past exams into the final exam
• do lots of practice questions
• study consistently, put in the time
• read widely,
• work experience is extremely important
• get a mentor or study group to discuss
  applications
• be prepared. Dont assume its like Part I or
  II

13
Myths and Facts

• The Institute sets pass rates at 30
• Myth. If you reach the pass mark, you pass.
• You must pass the assignments to pass the subject
• Myth.
• Discussion Forums are used for Q and A
• Myth.
• Qualified Fellows recommend at least 15 hours of
  study per week
• Fact.
• Highly unlikely that you will pass the subject if
  you dont pass the exam
• Fact. Students who fail the exam will generally
  not pass the subject, or may fall into the
  borderline category

14
Chief Examiner perspectives

• Role
• Drafting exams, overviewing exam process, writing
  reports for Board of Examiners
• Exam process
• What you need to do to pass
• Scaled and raw marks, questions passed,
  assignments
• How papers are spread
• Knowledge Understanding (20), simple judgement
  (40), complex judgement (40)
• Borderline candidates
• CE reports

15
Recent graduate perspective

• Strategies used to study
• What to do to pass exams
• Managing increased workloads (study, work and
  family)
• What helped me get through

16
Q A