Which segment of people were excluded? I recall them sending a survey out to ACAS and FCAS at the time. Anyone who wasn’t paying dues really shouldn’t have gotten a say.
That said, I agree that the potential merger was brought up very abruptly, and they certainly did try to persuade members that it was a great idea. Very glad it got shut down when it did.
For example, instead of saying January 25th is when 6c will be released. They could have said our expectation is that exams 5/6 will be possibly be released on Thursday/Friday and the upper levels will be released into the next week and we are still confirming the timelines.
Instead of saying you will find out the day before…
You don’t have to go back that many years to find a time when the CAS releases exams “as soon as possible” and didn’t publish expected release dates.
This is a completely new process, with new uncertainties, taking place at a new time of year that wasn’t the time people volunteered for. I don’t think it’s that remarkable that they haven’t given you a date. I’m sure they COULD give a date, but then when they beat the date (and it’s likely they will beat the date they are certain they will hit) they’d hold the results for a few days to meet their promise. The results are already quite late in the cycle, and i believe the goal is ASAP.
It’s extremely material because quite a lot of the activities can’t begin until all the papers are graded.
Step 1, grade every paper twice (once each by two graders), was completed shortly after the last exam was given. But then they pick a preliminary passmark and a regrade band, and then they need to give graders time for the regrade (previously scheduled and in Vegas, but remote this year, and probably just “do it ASAP”). Then there is a bunch of analysis and meetings and such. Held among people who have other priorities and didn’t have a ton of time to schedule those meetings.
Yes, they charge much higher dues. And higher exam fees. And higher costs for syllabus material. And a lot more of their exam adminstration is done by employees rather than by volunteers. And they are a much larger group that has more resources even without charging more.
The SOA did do exactly that in 2020, actually. Spring FSA exams were postponed to mid-July. Results came out mid-September, with fall exams at the end of October.