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CIS NEWS UPDATE
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CIS INTRODUCES CREDIT SYSTEM – May 18, 2009 |
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The Chartered Institute of Stockbrokers (CIS) has issued the results of the last sitting of the March Professional exams, saying that the pass rate was not encouraging in Level 2 but was fair in Levels 1 and 3. Level 1 exam consists of 5 papers while Levels 2 and 3 have 4 papers each. The general poor performance was attributed to inadequate preparations on the part of the candidates.
To ease the burden of performance due to the rigorous nature and the high standards CIS demands, in their meeting of Thursday, May 14, 2009, the Governing Council approved the introduction of the credit system for its professional examinations starting from September 2009 diet after considering the positive effects it would have on performances of the students taking the examinations.
The credit system will allow candidates to retain any examination paper passed in the professional examination levels of the CIS qualification. Candidates are required to complete an examination level before attempting the next examination level. They are not allowed to combine two levels of the examination at any sitting.
A candidate will be required to enter for all the examination papers in each examination level. No candidate will be allowed to apply to sit for one examination paper unless the other examination papers have been previously passed or exempted.
Under the referral system which was operated till March 2009, students were referred in not more than two subjects provided they achieved certain minimum marks. They were also required to pass the referred examination papers in the following two examination diets otherwise they had to repeat the entire examination subjects.
he new policy now makes it possible for the students to keep those papers they pass and write the remaining papers at their own convenient time subject to passing the entire exam within a period of eight years. This is a welcome relief for students given the rigorous nature of the examination. It will also go a long way in improving the pass rate in the examination.