Hi, I had previously appeared for the SP8 April 2021 Exam. I have scored 0 marks on the Burning Cost question. Although I had provided the following solution in my paper : *Here I had included a snipped picture of the required and detailed calcualtions as performed in excel* Turnover for 2021 6660.15 = 6343 * 1.05 Expected Claims Cost for 2021 8.381686181 (Turnover for 2021 * Average Cost of claims per unit of Turnover) The Risk Premium is 8.4M The following ASSUMPTIONS have been made : - The exposure (turnover) for the past does not need to restated to allow for inflation. - The large losses are completely developed. - The inflation of 3% is appropriate for both large and other claims. - There is no change in the coverage of the policy offered. Could I understand why this could be the reason? Kind Regards, Nishant Rateria
Hi Nishant When trying to reconcile marks, we'd suggest asking a colleague to mark your attempt using the examiners' schedule. Hopefully they'll be able to give you some guidance as to why you might be missing the marks. For the use of Excel within the exams process, you'll need to keep up to date with the Exam Regulations on the IFoA website. And for any concerns about how your script has been marked, again the IFoA will be the ones to contact. Ian
