There were mainly two arguments from readers who did not take reality into account:
The first concerns the numbers who still have to write. If I may use the key individual (KI) stats as an example: It states that one third of the registered KIs still have to write before the end of June. This applies to those who have not yet written – at all. Those who did write, and failed, have until the end of September to write and pass. You cannot add the unsuccessful candidates to those who have not yet written, and assume the June deadline applies to all of them.
Those who do not write before the end of June, will miss the boat.
Secondly. The pass rate for KIs is 73.6%, and for Reps, it is 65.2%. Numerous enquiries from readers, before this press release from the FSB, quoted a pass rate of 20%, based on “informed sources.”
Where are those sources now?
Running off to the bank, I suspect.
The Pied Piper of Dreamalong has played his false tune, leaving his believers like rats drowning in the river of unbelievable dreams while he strolls off into the sunset, apparently not overly concerned about their welfare.
It appears that many concerned FSPs are blaming the FSB for the fact that there is so little time left. The fact of the matter is that the exams were available from 1 November 2010. The original deadline of 31 December 2011 was extended to the end of June, with an additional three months if you failed. If you chose to postpone writing, it is hardly the Regulator’s fault, is it?
The stark reality is this: conform to the requirements, or face the consequences. There is no alternative.
If this sounds harsh, forgive me, but there comes a time when one has to face the facts. I am not being unsympathetic, I am being realistic..