Many students who took the "Professional A" exam yesterday (Sunday) as part of the exams for a pension/financial consulting license complain that the exam was particularly difficult. The students say that out of 700 examinees, about 250 of them contacted the Israel Securities Authority by email, from which they received a response that the pass rate is about 33%, which is "perfectly reasonable."
The students are convinced that this is not a reasonable percentage and note that in previous years the pass rate was over 50%. "The test was just one big disgrace, people studied for over six months for a test that was mostly unrelated to the material, yet they brought more than one correct answer to some of the questions, and in addition some of the questions have more than one correct answer," Adir Yashar, chairman of the Israel Securities Authority's Professional Examinations Committee A, told Israel Hayom. The Board of Examinees also notes that the possibility of submitting a request for public complaints is being considered.
Israel Securities Authority Director General Oded Shapirer, Photo: Roni Shaitzer
In response to one of the securities authority's Facebook posts, more than 100 comments have already accumulated from disappointed students. "I took hundreds of tests, including an academic degree with honors," writes one applicant. "The test in Professional A that took place does not reflect in the slightest the syllabus knowledge required to study for the test. It is inconceivable that hundreds of people who invest six months (and some have been for several years) have to guess answers because the questions simply do not make sense. I hope you will think that this test was not manifestly proportionate, but was intended to fail in an extreme way."
The Israel Securities Authority said in response: "Applicants for a future license will provide financial services to the public and are therefore required to prove the relevant knowledge base required to provide professional and quality service.
It is important to note that the list of subjects for this test and the required knowledge base remains the same and has not changed. Candidates may appeal the results through the Authority's website. The Authority conducts the examination process in a professional and responsible manner and carries out the necessary checks so that the process will be proper and fair, as is also done in this examination."
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