Advice

Hello,

Would it be advisable to take CP3 if I have only taken CS1 and CM1. The 2021 CP3 syllabus states that "Individuals may wish to complete their core modules before sitting CP3, but they are not required to do so." I would be exempted from the other Core Principle papers (apart from CB3) when I begin my masters in September 2021. But I intend to sit for at least a paper in the coming April 2021 sitting.

Thanks in advance.

 

This is a question that only you can answer.

CP3 is a communication based exam. The content of the exam can be on any aspect of the earlier exams, which is assumed knowledge. So you could be at a knowledge disadvantage if the exam is based on course material that you have not yet studied / passed.

However, the observation that this is a communication and not a knowledge based exam means that you could still pass in-principle even without the requisite knowledge.

 

I think it is doable. Just make sure you get through the notes as quickly as possible (the notes are tiny), and start practicing as many question papers as possible. You'll get a feel for the type of questions that come up, and also, all the information that you need in order to answer the question, will either be on the question paper or in the materials that they send you a few days in advance.

I felt that the exam was more about the way you communicate (language/tone used, content + "how much" to say keeping your targeted audience in mind), if that makes sense. It's not really assessing your technical knowledge in too much depth (as long as you have some general knowledge of actuarial works/insurance, premiums, claims, etc., I think you'll be fine, I wouldn't get too bogged down with the fact that you haven't completed all CS/CMs). Try the Sept 2018 exam paper, you'll understand what I'm trying to say.

Personally, I've struggled with some of the exams, but this was one that I felt was very easy. Don't underestimate the preparation work for it though, make sure you practice a good bit and be very well-prepared as you would for the other exams. Hope that helps, best of luck.

 

Thanks for sharing! Appreciate it.

 

Thanks for this! That's encouraging to know. Will remember to get as much practice in as I can.