Certificate in Financial Mathematics (CT1)

ActEd is pleased to offer study materials, tuition, marking and tutor support for this first step into The Actuarial Profession.

What level of mathematics is required?

This exam requires you to understand and apply the following A-level, Higher or Leaving Certificate topics:

Algebra

• Manipulating equations and inequalities
• Working with logs and exponentials
• Solving simultaneous linear equations in 2 variables
• Solving quadratic equations

Series

• The sums of arithmetic and geometric series

Calculus

• Differentiation and integration of polynomial, exponential and logarithmic functions
• The product, quotient and chain rule for differentiation
• Integration by parts and integration by substitution
• Using differentiation to find and identify turning points
• Using integration to find the area under a curve

Statistics

• Mean and variance of discrete random variables
• Finding normal probabilities

What can I do to get my maths up to scratch?

You could use your local library and borrow P1, P2 and P3 (or C1, C2 and C3) A-level textbooks to cover the Pure/Core topics. Alternatively, we publish the FAC course which covers these topics and many others required by the remaining CT exams. This course is written assuming that you have previously met these topics and just need a refresher. Further information can be found on our FAC page.

The statistics topics, which are needed for the last chapter of the course, can be found in a T1 (or S1 and S2) A-level textbook. Alternatively, we publish the StatsPack which is written for students who have never met any statistics before. Further information, including sample pages, can be found on our StatsPack page.

What study materials do you offer?

We offer a Combined Materials Pack (CMP) which includes:

• the Profession's Core Reading for the exam
• ActEd's explanations, worked examples and self-assessment questions with full worked solutions
• A Q&A Bank which includes over 130 extra questions with full worked solutions to bring you up to exam standard
• 4 exam-standard assignments with full worked solutions

Is there any tuition available?

Yes. Many students find that receiving tuition helps them grasp the materials much more easily than studying the CMP on their own. Our tutors are employed for their ability to make concepts clear to students and this is reflected in the excellent feedback we receive and in the 30% higher pass rate achieved by those who attend.

We offer face-to-face, fully interactive tutorials (not lectures!) with group sizes of typically 9-12 students. These build on your home study of the material and get you tackling exam questions. Regular Tutorials are spaced out over the study period whereas Block Tutorials cover the same material but are taught on consecutive days towards the end of the study period. Attendees also get email support from their tutor.

Alternatively, we offer the CT1 Online Classroom which offers pre-recorded tutorials straight to your computer covering the same material as a 3 day tutorial which also comes dedicated tutor support.

You can also register on ActEd's Online Discussion Forum, where you can interact with your fellow students. ActEd tutors keep an eye on the discussions and intervene when necessary to avoid any misunderstandings.

Can I get my work marked?

We offer marking of the X assignments (which are included in the CMP) or you can purchase a Mock Exam with Mock Marking.

Our dedicated marking team will give you feedback that helps you both understand your mistakes and learn from them (so it's not just ticks and crosses!).

Revision

You can download CT1 past papers and brief solutions for free directly from the Profession's website. It is important that you tackle as many past papers as possible in the run up to the exam.

In addition, we do offer a variety of revision materials as extras to the CMP, tuition and marking. These include Flashcards to help you memorise key formulae, definitions and proofs; ASET, which provides fully worked solutions (with exam technique) to past exams and Revision Notes.

Don't forget!

In the exam you will be provided a copy of the "Formulae and Tables". This contains a handful of the CT1 formulae, some compound interest tables and some statistical tables.

We recommend that you purchase a copy to familiarise yourself with its contents. They are available separately from the Profession's Publications Unit.

Placing an order for the first time

So in summary, you'll need to place an order for the CT1 CMP and if possible attend a tutorial (or order the online classroom). Marking would be a great addition on top of these two.

For help on completing the ActEd application forms, please view Placing your first order.

Any other questions?

It can be a bit daunting starting a new career. If you would like some help choosing the study package that best meets your needs then please email us or CT1@bpp.com and we'll be delighted to help you.

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