Actuarial technician

ST0004, actuarial technician level 4

This is a summary of the key things that you – the apprentice and your employer need to know about your end-point assessment (EPA). You and your employer should read the EPA plan for the full details. It has information on assessment method requirements, roles and responsibilities, and re-sits and re-takes.

What is an end-point assessment and why it happens

An EPA is an assessment at the end of your apprenticeship. It will assess you against the knowledge, skills, and behaviours (KSBs) in the occupational standard. Your training will cover the KSBs. The EPA is your opportunity to show an independent assessor how well you can carry out the occupation you have been trained for.

Your employer will choose an end-point assessment organisation (EPAO) to deliver the EPA. Your employer and training provider should tell you what to expect and how to prepare for your EPA. 

The length of the training for this apprenticeship is typically 24 months. The EPA period is typically 2 months.

The overall grades available for this apprenticeship are:

• fail

• pass

• merit

• distinction

When you pass the EPA, you will be awarded your apprenticeship certificate.

EPA gateway

The EPA gateway is when the EPAO checks and confirms that you have met any requirements required before you start the EPA. You will only enter the gateway when your employer says you are ready.

The gateway requirements for your EPA are:

• achieved English and mathematics qualifications in line with the apprenticeship funding rules

• for the professional discussion underpinned by a portfolio, you must submit a portfolio of evidence

Assessment methods

A project with a Case study.

You will be asked to complete a Case study. The EPAO will give you suggested project titles. As part of the project, you need to write a Case study and submit this to the EPAO. The Case study should be a maximum of 1000 (with a 10% tolerance).

}You will have 2 weeks to complete the project and submit the Case study to the EPAO.

You will have a question and answer session with an independent assessor to discuss the project. It will last 30 minutes. They will ask at least 5 questions.

Professional discussion

You will have a professional professional discussion with an independent assessor. It will last 60 minutes. They will ask you at least 10 questions. The questions will be about certain aspects of your occupation. You need to compile a before the EPA gateway. You can use it to help answer the questions.

Who to contact for help or more information

You should speak to your employer if you have a query that relates to your job.

You should speak to your training provider if you have any questions about your training or EPA before it starts.

You should receive detailed information and support from the EPAO before the EPA starts. You should speak to them if you have any questions about your EPA once it has started.

Reasonable adjustments

If you have a disability, a physical or mental health condition or other special considerations, you may be able to have a reasonable adjustment that takes this into account. You should speak to your employer, training provider and EPAO and ask them what support you can get. The EPAO will decide if an adjustment is appropriate.

This document explains the requirements for end-point assessment (EPA) for the actuarial technician apprenticeship. End-point assessment organisations (EPAOs) must follow this when designing and delivering the EPA.

Actuarial technician apprentices, their employers and training providers should read this document.

An approved EPAO must conduct the EPA for this apprenticeship. Employers must select an approved EPAO from the Education and Skills Funding Agency’s Register of end-point assessment organisations (RoEPAO).

A full-time apprentice typically spends 24 months on-programme (this means in training before the gateway) working towards competence as a actuarial technician. All apprentices must spend at least 12 months on-programme. All apprentices must complete the required amount of off-the-job training specified by the apprenticeship funding rules.

This EPA has 2 assessment methods.

The grades available for each assessment method are:

Assessment method 1 - case study :

• fail

• pass

• distinction

Assessment method 2 - professional discussion underpinned by a portfolio:

• fail

• pass

• distinction

The result from each assessment method is combined to decide the overall apprenticeship grade. The following grades are available for the apprenticeship:

• fail

• pass

• merit

• distinction

The EPA is taken in the EPA period. The EPA period starts when the EPAO confirms the gateway requirements have been met and is typically 2 months.

The EPAO should confirm the gateway requirements have been met and the EPA should start as quickly as possible.

The apprentice’s employer must confirm that they think their apprentice is working at or above the occupational standard. The apprentice will then enter the gateway. The employer may take advice from the apprentice's training provider(s), but the employer must make the decision.

The apprentice must meet the gateway requirements before starting their EPA.

These are:

• achieved English and maths qualifications in line with the apprenticeship funding rules

• for the professional discussion underpinned by a portfolio the apprentice must submit portfolio of evidence

Portfolio of evidence requirements:

The apprentice must compile a portfolio of evidence during the on-programme period of the apprenticeship. It should only contain evidence related to the KSBs that will be assessed by this assessment method. It will typically contain 10 discrete pieces of evidence. Evidence must be mapped against the KSBs. Evidence may be used to demonstrate more than one KSB; a qualitative as opposed to quantitative approach is suggested.

Evidence sources may include:

• workplace documentation and records, for example:
• workplace policies and procedures
• witness statements
• annotated photographs
• video clips (maximum total duration 5 minutes); the apprentice must be in view and identifiable

This is not a definitive list; other evidence sources can be included.

The portfolio of evidence should not include reflective accounts or any methods of self-assessment. Any employer contributions should focus on direct observation of performance (for example, witness statements) rather than opinions. The evidence provided should be valid and attributable to the apprentice; the portfolio of evidence should contain a statement from the employer and apprentice confirming this.

The EPAO should not assess the portfolio of evidence directly as it underpins the discussion. The independent assessor should review the portfolio of evidence to prepare questions for the discussion. They are not required to provide feedback after this review.

The apprentice must submit any policies and procedures as requested by the EPAO.

The assessment methods can be delivered in any order.

The result of one assessment method does not need to be known before starting the next.

Overview

A case study involves the apprentice completing a significant and defined piece of work that enables the apprentice to demonstrate the KSBs mapped to this method. The case study must start after the apprentice has gone through the gateway.

The case study must provide the apprentice with the opportunity to demonstrate the KSBs mapped to this assessment method to the highest available grade. The EPAO must refer to the grading descriptors to ensure that case studies are pitched appropriately. The case study and any components must be assessed holistically by the independent assessor when they are deciding the grade for this assessment method.

This assessment method has 2 components:

• project with a project output in the form of a case study

• question and answer session

Together, these components give the apprentice the opportunity to demonstrate the KSBs mapped to this assessment method. They are assessed by an independent assessor.

Rationale

This assessment method is being used because:

Actuarial technicians work in a range of contexts where their work is both long running, complex and varied. The nature of the occupation makes observation and practical demonstration of competence unfeasible and expensive to assess on a one-to-one basis. A knowledge test would evidence recall and time-bound abilities to perform certain technical calculations but would not provide assessment of competence in building and analysing complex mathematical models and making appropriate judgements. Similarly a project approach would not be appropriate because of the wide variety of contexts in which actuarial technicians are employed such that the guaranteed level of scope in any project would not be assured to arise during the EPA period.

A Case Study format enables the apprentice to be tested in a replicable context against key aspects of competence that can be set to a known extent ensuring comparability of assessment across apprentices and time. It is a method that is valid for the occupation as actuarial technicians are required to construct mathematical models from analysis of evidence and present their findings.

The Case Study should cover one of the following areas of practice depending on the employers needs:

• Life and Health Insurance

• General Insurance

• Pensions.

Delivery

The EPAO must provide a project assessment method specification. It must detail how a project can enable an apprentice to meet the KSBs mapped to this assessment method to the highest available grade. The EPAO must also provide suggested project titles.

The project output must be in the form of case study.

The apprentice must start the project after the gateway. The employer should ensure the apprentice has the time and resources, within the project period, to plan and complete their project.

The apprentice may work as part of a team to complete the project, which could include internal colleagues or technical experts. The apprentice must however, complete theircase study unaided and it must be reflective of their own role and contribution. The apprentice and their employer must confirm this when the case study is submitted.

Component 1: A project with case study

Thecase study must include at least:

• Stage 1 Understand the task
• Stage 2 Obtain,check and manipulate data
• Stage 3 Evaluate and select appropriate model or method
• Stage 4 Add assumptions required to run the model
• Stage 5 Run the model or do the method
• Stage 6 Confirm accuracy and reasonableness of results generated
• Stage 7 Analyse results

Appendices

- Audit trail of work

- Mathematical Models

- Map of KSBs to assessment method

The case study must have a word count of 1000 words. A tolerance of 10% above or below the word count is allowed at the apprentice's discretion. Appendices, references and diagrams are not included in this total. The apprentice must produce and include a mapping in an appendix, showing how the output evidences the KSBs mapped to this assessment method.

The apprentice must complete and submit the case study to the EPAO by the end of week 2 of the EPA period.

Component 2: Question and answer session

The question and answer session must be structured to give the apprentice the opportunity to demonstrate the KSBs mapped to this assessment method to the highest available grade.

The apprentice must be questioned about their project and case study.

The question and answer session must last for 30 minutes. The independent assessor must use the full time available for questioning. The independent assessor can increase the total time by up to 10%. This time is to allow the apprentice to respond to a question if necessary.

The independent assessor must ask at least 5 questions. They must use the questions from their EPAO’s question bank or create their own questions in line with the EPAO’s training. Follow up questions are allowed where clarification is required.

The purpose of the independent assessor's questions is:

• to verify that the activity was completed by the apprentice
• to seek clarification where required
• to assess those KSBs that the apprentice did not have the opportunity to demonstrate with the case study, although these should be kept to a minimum
• to assess level of competence against the grading descriptors

The independent assessor must have at least 2 weeks to review the case study, before the question and answer session, to allow them to prepare questions.

The apprentice must be given at least 2 days’ notice of the question and answer session.

Assessment decision

The independent assessor must make the grading decision. They must assess the project components holistically when deciding the grade.

The independent assessor must keep accurate records of the assessment. They must record:

• the KSBs demonstrated in the case study and question and answer session
• the apprentice’s answers to questions
• the grade achieved

Assessment location

The question and answer session must take place in a suitable venue selected by the EPAO for example, the EPAO’s or employer’s premises. It should take place in a quiet room, free from distractions and influence.

The question and answer session can be conducted by video conferencing. The EPAO must have processes in place to verify the identity of the apprentice and ensure the apprentice is not being aided.

Question and resource development

The EPAO must develop a purpose-built assessment specification and question bank. It is recommended this is done in consultation with employers of this occupation. The EPAO must maintain the security and confidentiality of EPA materials when consulting with employers. The assessment specification and question bank must be reviewed at least once a year to ensure they remain fit-for-purpose.

The assessment specification must be relevant to the occupation and demonstrate how to assess the KSBs mapped to this assessment method. The EPAO must ensure that questions are refined and developed to a high standard. The questions must be unpredictable. A question bank of sufficient size will support this.

The EPAO must ensure that the apprentice has a different set of questions in the case of re-sits or re-takes.

EPAO must produce the following materials to support the project:

• independent assessor EPA materials which include:
  • training materials
  • administration materials
  • moderation and standardisation materials
  • guidance materials
  • grading guidance
  • question bank
• EPA guidance for the apprentice and the employer

The EPAO must ensure that the EPA materials are subject to quality assurance procedures including standardisation and moderation.

Overview

In the discussion, an independent assessor and apprentice have a formal two-way conversation.

The apprentice can refer to and illustrate their answers with evidence from their portfolio of evidence. It gives the apprentice the opportunity to demonstrate their competency across the KSBs mapped to this EPA method.

Rationale

This assessment method is being used because:

• it allows the apprentice to be assessed against KSBs that may not naturally occur as part of the case study

• it allows the apprentice to show case their depth of understanding relating to the KSBs

• it allows the independent assessor to consider the context and sector that the apprentice operates within, giving flexibility to ensure that all the KSBs can be assessed appropriately

• it is cost effective, and it allows consideration of the potential need to conduct the EPA remotely.

Delivery

The professional discussion must be structured to give the apprentice the opportunity to demonstrate the KSBs mapped to this assessment method to the highest available grade.

An independent assessor must conduct and assess the professional discussion.

The purpose of the independent assessor's questions will be to explore competence within the KSBs mapped to the assessment method and enable the apprentice to demonstrate distinction criteria as necessary.

The EPAO must give an apprentice 2 weeks notice of the professional discussion.

The independent assessor must have at least 2 week(s) to review the supporting documentation.

The apprentice must have access to their during the professional discussion.

The apprentice can refer to and illustrate their answers with evidence from their , however the is not directly assessed.

The professional discussion must last for 60 minutes. The independent assessor can increase the time of the professional discussion by up to 10%. This time is to allow the apprentice to respond to a question if necessary.

The independent assessor must ask at least 10 questions. Follow-up questions are allowed where clarification is required. The independent assessor must use the questions from their EPAO’s question bank or create their own questions in-line with the EPAO’s training.

The independent assessor must make the grading decision. The independent assessor must keep accurate records of the assessment. They must record:

• the apprentice’s answers to questions
• the KSBs demonstrated in answers to questions
• the grade achieved 

Assessment location

The professional discussion must take place in a suitable venue selected by the EPAO (for example the EPAO’s or employer’s premises).

The professional discussion can be conducted by video conferencing. The EPAO must have processes in place to verify the identity of the apprentice and ensure the apprentice is not being aided.

The professional discussion should take place in a quiet room, free from distractions and influence.

Question and resource development

The EPAO must develop a purpose-built assessment specification and question bank. It is recommended this is done in consultation with employers of this occupation. The EPAO should maintain the security and confidentiality of EPA materials when consulting employers. The assessment specification and question bank must be reviewed at least once a year to ensure they remain fit-for-purpose.  

The assessment specification must be relevant to the occupation and demonstrate how to assess the KSBs mapped to this assessment method. The EPAO must ensure that questions are refined and developed to a high standard. The questions must be unpredictable. A question bank of sufficient size will support this.

The EPAO must ensure that apprentice has a different set of questions in the case of re-sits or re-takes.

The EPAO must produce the following materials to support the professional discussion underpinned by a portfolio:

• independent assessor assessment materials which include:

• training materials
• administration materials
• moderation and standardisation materials
• guidance materials
• grading guidance
• question bank

• EPA guidance for the apprentice and the employer

The EPAO must ensure that the EPA materials are subject to quality assurance procedures including standardisation, training, and moderation.

The assessment methods contribute equally to the overall EPA pass grade.

Performance in the EPA determines the apprenticeship grade of:

• fail

• pass

• merit

• distinction

An independent assessor must individually grade the: case study and professional discussion underpinned by a portfolio in line with this EPA plan.

The EPAO must combine the individual assessment method grades to determine the overall EPA grade.

If the apprentice fails one or more assessment methods, they will be awarded an overall EPA fail. 

To achieve an overall pass, the apprentice must achieve at least a pass in all the assessment methods. To achieve an overall EPA ‘merit,’ the apprentice must achieve a pass in the Case Study with questioning or the Professional Discussion and a distinction in the other Assessment MethodTo achieve an overall EPA ‘distinction,’ the apprentice must achieve a distinction in both assessment methods.

Grades from individual assessment methods must be combined in the following way to determine the grade of the EPA overall.

An apprentice who fails one or more assessment method(s) can take a re-sit or a re-take at their employer’s discretion. The apprentice’s employer needs to agree that a re-sit or re-take is appropriate. A re-sit does not need further learning, whereas a re-take does.

An apprentice should have a supportive action plan to prepare for a re-sit or a re-take.

The employer and EPAO agree the timescale for a re-sit or re-take. A re-sit is typically taken within 1 months of the EPA outcome notification. The timescale for a re-take is dependent on how much re-training is required and is typically taken within 1 months of the EPA outcome notification.

Failed assessment methods must be re-sat or re-taken within a 6-month period from the EPA outcome notification, otherwise the entire EPA will need to be re-sat or re-taken in full.

Re-sits and re-takes are not offered to an apprentice wishing to move from pass to a higher grade.

An apprentice will get a maximum EPA grade of distinction for a re-sit or re-take, unless the EPAO determines there are exceptional circumstances.

The EPAO must have reasonable adjustments arrangements for the EPA.

This should include:

• how an apprentice qualifies for reasonable adjustment
• what reasonable adjustments may be made

Adjustments must maintain the validity, reliability and integrity of the EPA as outlined in this EPA plan.

Internal quality assurance refers to how the EPAO ensures valid, consistent and reliable EPA decisions. The EPAO must adhere to the requirements within the roles and responsibilities section:

The EPAO must also:

• have quality assurance systems and procedures that ensure fair, reliable and consistent EPA regardless of employer, place, time or independent assessor
• appoint independent assessors who are competent to deliver the EPA and who:
  • have recent relevant experience of the occupation or sector to at least occupational level 4 gained in the last 2 years or significant experience of the occupation or sector
• operate induction training for anyone involved in the delivery or assessment of the EPA
• provide training for independent assessors in good assessment practice, operating the assessment tools and making grading decisions
• provide ongoing training for markers and invigilators
• provide standardisation activity for this apprenticeship standard for all independent assessors:
  • before they conduct an EPA for the first time
  • if the EPA is updated
  • periodically as appropriate (a minimum of annually)
• conduct effective moderation of EPA decisions and grades
• conduct appeals where required, according to the EPAO’s appeals procedure, reviewing and making final decisions on EPA decisions and grades
• have no direct connection with the apprentice, their employer or training provider.

Affordability of the EPA will be aided by using at least some of the following:

• utilising digital remote platforms to conduct applicable assessment methods

• using the employer’s premises

• conducting assessment methods on the same day

Professional body recognition is not relevant to this occupational apprenticeship.