The Institute and Faculty of Actuaries
Role of CAA, Module 5 Models and Audit Trails - Markers [PDR]
The syllabus for Module 5 of the new Certified Actuarial Analyst (CAA) qualification was launched on
7 April 2014 and the first exams will be offered in early March of 2015. The Module 5 syllabus can be
found on the CAA webpages of the Institute and Faculty of Actuaries’ website.
A Marker for Module 5 reports to the Module 5 Principal Examiner. A Marker needs to follow the
specific requirements for CAA, Module 5 which are summarised below.
“Task” and “Person” Specification:
“Task” Specification
Markers for Module 5 will be responsible for first and second marking of student scripts. The role will
be similar to that of other Markers under the Fellowship qualification. It will include the following key
tasks:
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Attend a meeting with the Head of Learning and Assessment to discuss the aims of the new
Analyst qualification and Module 5, in particular. This will include discussing the process for
marking and setting the exams. It is intended that this will be a face-to-face meeting, which
will include all of the Examining Team, but attendance via video link/telephone will be
possible. This will be a one-off meeting.
Per exam session, mark up to a maximum of 40 allocated scripts in accordance with predetermined deadlines. Submit results using the bespoke marking sheet.
Taking part in the test batch marking exercise seven working days after the exam has
finished. This exercise involves:
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Marking five sample scripts within seven days after the exam has ended.
Taking part in a conference call with the Examining Team to discuss marking
consistency, issues with the paper, likely pass mark, alternative methods found, marking
schedule issues, etc. This process will occur approximately four times a year.
Support
Administrative support for the role will be provided by the Logistics Team, and a handbook will be
provided containing full details of the role and responsibilities.
Tenure
The tenure of this role is a minimum of two years and we would expect most Markers to continue in
the role for up to three years.
A fee per script marked will be paid for this role.
Time Commitment
Marking: Each Marker will be required to mark for a minimum of two exam sessions per year which
will be held in March 2015, June 2015, October 2015 and February 2016.
A marking load will consist of approximately 40 scripts with each script taking between 45 – 60
minutes to mark. All completed markings must be submitted within four weeks after the close of the
exam session.
Test Batch Marking: Markers will be required to mark five test scripts four times a year. This
involves returning marks within five days to facilitate the marking meeting which is scheduled seven
working days after the exam session has ended.
They are also required to attend the marking meeting, either in person or via conference call. Each
marking meeting is scheduled for approximately one hour, plus script marking time.
Training: Mandatory training sessions will be held annually for one day.
*PDR
This is a PDR role and a fee will be paid.
Professional Development and Responsibility (PDR): In addition to the traditional volunteer roles and
tasks which our members undertake each year, there are also a number of other opportunities
whereby members can offer to provide “paid” support for a fixed service. These opportunities are not
by definition, “volunteering” roles. However, we recognise that the fee paid is nominal and we, as a
profession, are therefore extremely grateful to, and reliant on, those members who provide this
service to enhance and develop our profession.
“Person” Specification
Our Education Directorate is seeking to hear from suitably qualified and experienced Fellows. This
role is open to any suitably qualified members regardless of their geographical location.
October 2014