If I took the Foundations for Trustees (Foundations) courses in the past, do I need to take the new Foundations of Trust Management Standards (FTMS) course?
Individuals who have previously taken Foundations for Trustees courses are encouraged, but not required, to enroll in the new FTMS program. The new program provides a streamlined course curriculum, applicable to all types of funds.
How does the FTMS course relate to the Advanced Trustee Management Standards (ATMS) program?
Learning objectives for FTMS focuses on baseline knowledge and comprehension, assuring that participants understand the foundational information necessary to fulfill their responsibility as a trustee. After participating in the FTMS program and successfully completing the test, participants may move on to ATMS which focuses on application and analysis. FTMS followed by ATMS produces well-educated, knowledgeable and confident trustees.
What is the time line for FTMS and ATMS program changes?
The first offering of the new FTMS course was presented in September 2011. The FTMS program will be offered again July 23-25, 2012 in Toronto. Current ATMS courses will be offered through most of 2012 with a new ATMS course to be unveiled prior to the Annual Canadian Employee Benefits Conference in November 2012.
ATMS will continue to be offered in its present format through August 2012. This allows two opportunities to complete an ATMS certificate:
May 2012: ATMS Parts I, II—Group Benefits and II—Pensions
August 2012: ATMS Parts II—Pensions, III—Pensions and IV
Why did the International Foundation make these changes?
The International Foundation understands that trustees play a crucial role in addressing the health and retirement needs of plan members. New trustees, in particular, must quickly gain an understanding of the basic principles of trust fund management as well as an awareness of knowing where to find resources in order to make informed decisions. The assessment component offers trustees an opportunity to validate their learning. The introduction of FTMS is the first step of a larger strategy to provide a cohesive, integrated educational path for trustees at all levels.
Does the FTMS program have a testing component?
Yes, FTMS includes an optional test. The program’s curriculum covers key knowledge areas for management of trusts, with set learning objectives of need-to-know issues for new trustees. The test has 40 multiple-choice questions and you are encouraged to use your class materials and notes for reference.
Can I earn a certificate if I don’t take the test?
If you attend all of the required sessions, you will earn a certificate of attendance, as customary. You will earn a certificate of achievement if you also successfully pass the test.
What kind of test will be administered? Is the test required for FTMS?
The test is an online, open-book test with 40 questions (70% or better is required to pass). The objective of the test is to ensure trustees not only have a basic understanding of the effective management of trusts but also the ability to find the answers they need. The test is not required for FTMS. If you elect not to take the test you can still earn a Certificate of Attendance. However, the test component is required if you plan to continue on with ATMS.
If I fail, will my fund be notified?
The test results are confidential. The International Foundation will not notify your fund of your results. However, your fund may have an educational policy that requires you to provide this type of information. Should you fail the test, you will have an option to retake it. One retake is included with your registration. If you do not pass on the second attempt, you can apply for an additional retake at a reduced fee.