FINANCIAL ECONOMIST FINANCE EXAM QUESTIONNAIRE article FINANCE ECONomist has launched an investigation into the financial examinations that are offered to all applicants in Ireland, with the aim of uncovering evidence of cheating and ensuring the integrity of the examinations.
The examinations are offered by the Central Bank of Ireland and by the College of Financial Advisers, which runs the examinations and certifies the exam results.
The Central Bank is a regulator that oversees financial institutions and is responsible for overseeing the exam, which is compulsory for all new entrants to the financial services industry.
“Investigations into this area are extremely important and we are working hard to ensure that the results of all the examinations are accurate,” said David McEntee, chairman of the Central Board of Deputies and Standards.
“The Central Board is aware of the seriousness of this issue and is undertaking a full investigation to identify any wrongdoing.”
It comes as a result of a report by the National Audit Office which recommended a ban on the financial examination tests, which are offered under the auspices of the CFAO.
The CFAOMA is the body that manages the exams, certifies them and distributes them to financial institutions across the country.
It is a quasi-independent body and is not a regulator of any type.
Financial adviser David McDonagh, who runs the CFS website, said the CBA had been aware of cheating for years.
“It’s always been a problem.
They know what’s going on.
It’s not something that is hidden,” Mr McDonach said.”
This has been going on for a number of years.
I don’t know if they are aware of it at the moment, but it is something that we’re talking about.”
There has been a lot of scrutiny on financial services over the last couple of years and the financial exams have been at the forefront of that.
“They are very important to people who are working in financial services and for people who have an income in the financial sector.”
The CBA said that its examination team would continue to monitor the CFPG and ensure it had taken the necessary steps to ensure all of the tests are fair and reliable.
“While we have already taken appropriate measures to address this issue, we will continue to investigate this issue,” a spokesperson said.
The college of financial advisers said it had not been contacted by the CAA about the investigation and that it was unaware of any specific instances of cheating.
Mr McEntees report said the examination tests are a “very important source of income” for financial advisors who provide advice on how to prepare for exams and have an important role in helping people to prepare themselves for the exams.
“In a recent survey, of the respondents who were eligible for financial advice, half said they would take an examination,” he said.
“I know that a large number of people who go to financial advice and they get a financial assessment, that is the first time they are in the market.”
That’s why the CCA has been making sure the exam is fair, that’s why we are doing our investigations and we have been taking steps to make sure that the exam does not appear to be unfair to people.
“The Central Executive of the Bank of England also said that it would investigate the CFIOCS and CFAOCS.”
We are reviewing the exam structure and will assess whether we have a strong enough evidence base to recommend further action, including sanctions,” a spokesman said.