Moonstone: Regulatory Examinations Review
Seldom has one seen such disparate views on a matter of national interest as those expressed on the 2013 matric results. While the government sang its own praises based on statistical improvements, concerns were raised by others about the bigger picture, and particularly how much value one can place on a certificate when the pass rate for some subjects is only 30%.
An article in Business Day states:
While the results were given the thumbs-up by Umalusi, the statutory body
that sets and monitors education standards, Umalusi chairman Sizwe Mabizela
said much work still had to be done to improve the standard of education.
"There is a need to focus on the quality of passes rather than obsessing
with pass rates."
Dr Mabizela said the pass rate masked "deep and worrying"
inequalities in the education system. "There are many schools that lack
even the most basic infrastructure and necessities such as libraries,
laboratories or even textbooks for any semblance of normal schooling to take
place."
Our industry’s "matric” results differed vastly, both in terms of pass mark,
pass rate and fall-out.
Pass Mark
The pass mark of 65% (RE1) and 66% (RE 5) came in for much criticism despite
the fact that it was set at this rate as the REs were professional
examinations, and not merely a token gesture. It was intended to provide the
public with the assurance that financial advisors were skilled to provide
financial advice in accordance with stringent legal requirements.
Compare this to the nearly 70% of last year’s matriculants who passed without a
bachelor’s pass, and who now have to try and find employment in an environment
where work is very scarce.
Noted academic, Professor Jonathan Jansen, called for the pass mark to be
increased to at least 50% for this qualification to have more value than the
paper it is printed on.
Pass Rate
The matric pass rate increased to 78.2% in 2013. The regulatory examination
pass rates, announced in December, were 93% (RE1) and 92% (RE5), respectively.
Viewed together with the pass marks discussed above, the industry can pat
itself on the back on achieving this. Job seekers with an RE1 and RE5
qualification will be in huge demand in an industry with a high staff turnover,
as opposed to school leavers with an inferior qualification.
Fall-Out Figures
An article in Mail & Guardian states:
Paul Joubert, senior economic researcher at the Solidarity Research
Institute, said that of the 1.2-million pupils in grade one in 2002, 34%,
(about 408 000) went on to pass matric. One reason for the drop in numbers was
"culling", where weak pupils in Grade 11 are prevented from going on
to matric to boost pass rates.
No doubt, there will be losses where people are unable to pass the regulatory
examinations in time. This is no light-hearted matter, given that some of these
people have spent a lifetime building up a practice to their own benefit, and
that of their clients. This is indeed the biggest tragedy of the process, and
one must express the wish that a solution to this can be found, given that the
biggest losers in the process will be their clients.
The way forward
The postponement of the level 2 REs, and proposed amalgamation of the RE1 and
RE5 are but some of the changes we can expect, resulting from lessons learnt in
the past few years.
Professionalisation of the industry will remain the key objective, and
consultation with the industry will no doubt enhance cooperation in achieving
this. We have seen encouraging signs of such interaction, and are confident
that a new dispensation lies ahead.
