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Hi, This one can be quite complicated but in general, there's no difference between the reserve at the end of one year and the reserve at the...
It's being valued as 5k paid to each life, and so when they are both alive they'll get 10k in total.
Hi, 1. Unlikely but possible, especially in paper A if you have used rounded numbers earlier (eg from the Tables). But they'd probably only...
Hi, In the 'Q4 Base' data tab for that question it says at the bottom "The company does not hold non-unit reserves". It's easily missed though -...
It's similar to the alternative way of approaching it, which is presented on page 28 of Chapter 20 of ActEd's course notes. But if you group the...
Yes that's correct. By all means reference the past paper question so that we can help with that (or check for a mistake). Thanks
Yes (reference Section 4, Chapter 21).
Yes, check out Section 3.5 of Chapter 18.
Yes, as long as you show your working and it's clear what you have done. So all three are OK. Obviously check out the Exam Handbook at...
This is explained in Section 4 of Chapter 22 of the course notes.
The process of investigation into inappropriate conduct during examinations is published in the IFoA's Assessment Regulations. All students...
Unfortunately it also says: "If you would like to take an exam of the IFoA as a non-member you can take either the CS1 or CM1 exam." And "Please...
You can only use the generic formula for the whole period if you are given only one function for the rate of payment and one for the force of...
I think you need A(t, 10). And not A(5,t). You want to accumulate each payment at time t up to time 10.
Hopefully to point you in the right direction: The force of interest is different (and zero) in the first first years. So first work out the AV...
Correct - see page 11 of...
Hi Abby, You can't use pre-prepared templates and so no you can't copy from another Word doc I'm afraid. But you're fine to copy stuff you've...
I can't see anything in the regs but i don't think this would be a problem. Other students have mentioned in other threads that they have done...
You don't need to do it one by one. Depending on the version of Word and the complexity of what you are copying, I think it often defaults to...
Yes that's fine. And you can copy in values from Excel but make sure you still show all your working.
I would definitely have another go, especially at the parts you didn't get right. The whole point of attempting questions is to find things you...
Yep that makes sense. Hopefully all hypothetical - it would be a very unusual exam questions:) . I'd move on!
If the repayments are in advance then the final repayment will be at the start of the final year and not the end. And so try working out the loan...
Hi Lauren, It could be either but I would default to the survival benefit. The end of the policy term is a special case and we usually quote the...
Yes, as long as you are just moving across values or working that you have produced yourself in the exam time then it's fine.
Hi, Yes the statement about actual experience was the biggest clue that a retrospective reserve was required. This was the most straightforward...
The exam handbook states: "You are strictly prohibited from copying and pasting, or re-typing content, word for word, from any source or multiple...
That depends what you did last time :-). But I don't see why not. The IFoA haven't published any change document and so as far as I can tell the...
I agree mavvj - it's very subjective. If you used a very broad definition you could argue that nearly every point scoring comment you make is...
Hi Dexter, You can use Excel to do the calculations but don't embed a spreadsheet in the the Word document. It would be fine to cut and paste the...
I appreciate the confusion that now exists for many of you. The following represents my personal view and interpretation of the guidance issued....
That's absolutely fine and very sensible.
Hi, I think there was a 12-month window back in 2014-15 for students to claim exemptions that way but I don't think it's possible now. However,...
Out of interest - does it say 8 Sept 2020, and did you have a March/April date before that? Just wondering if it's still there from last Sept....
Hi Han, Technical papers on the subject seem to use the expression non-linearity in a couple of different ways. In addition to that mentioned...
Hi Mark, I think it's worth checking with the IFoA. I don't think it's going to be possible given that: This session, registration forms had to...
I'm not an expert in CB1 but I've had a quick look and agree with your answers. :-)
The majority of the material on NPV was removed from the course a few years ago and so most of the old exam questions on this topic are now beyond...
Hi MLC, For OT, as you are paying the reinsurer a part of your original (gross) premium, then the reinsurer will pay a part of all claims,...
I don't think so Rajat. The few paragraphs you are referring to were only recently added to the Core Reading. It doesn't say a great deal but...
Hi Recoba, They are counting in half marks and so you would need 120 to pass. Good luck!
There are lots of choices and it will depend on how much study you want to commit to each sitting. In the current system, lots of sponsored...
The asset share of a unit linked policy is no different to any other policy, so expenses are deducted and changes don't come into it. It's...
I think the last point about difficulty with OT is also specific but yes the rest are all generic. I suppose the question doesn't actually ask...
The first two look the same. The third is a bit different and is covering the possibility of the 'level risk premium' type mentioned in the notes....
1. Yes they are. Though they also suggest you might opt for a bit less risk than that. 2. It's referring to the tax position of the company...
https://www.actuaries.org.uk/studying/student-news
They are just dividing both sides of the equation before through by 1.1?!?
4. Or just gets it wrong, or goes bust.
It's a pretty standard question. You need to derive the result quoted at the top of page 17, chapter 15, to show that S5 is also log-normally...
your formula implies 800 pa paid monthly in advance, ie 800/12 every month. We've got 100 each month with an R in it. Your might be a reasonable...
it's the same method, just different interest rates to work with. In the first question, you have two risk free rates relevant at issue, time 0....
the DPP has to coincide with an income payment. If you receive income annually then you will round to the next whole year (not the nearest). The...
It's not really a choice of method; more about how much breadth or depth to give. Yes sometimes a word like "key" or "main" will help, but also...
A very tricky question. 1. Yes, working from first principles you can use an annuity with the rate of payment including the term 1.01^t. But...
So that policyholders benefit from the rise in asset prices (that hopefully will one day be realised). (But I wouldn't worry too much about this...
It's just saying that if you are using a simple formula method to set the price, eg equating the PV Premiums with the PV of Benefits and expenses,...
Hi, I think it depends on how difficult you find each course - it's good to concentrate on your weak areas. General guidance from the IFoA doesn't...
Unusual and tricky question. If you get the latter part then I think you've understood the most important stuff. Your thought in your Q1 is...
The question is asking about the existing product "range", not existing products. So we're looking at developing and pricing new products to...
Chapter 11 already! well done. Yep you make a fair point. It overlaps a little with the first point made in the mortality section about asset...
A2010 Q6 First thing to say is that you can do it the "long way" using the full method as you put it. You can still get full marks and so I...
I think it's clumsy wording. Is this any better: (The value of) Paid up sum assureds on the basis of future experience, should be supported by...
Standard formula for monthly annuity (from Subject CT5). It's on Page 36 of the orange Tables.
sorry, but I can't see that reference on Page 7 of Chapter 10??? Yes, there's an inverse relationship.
Generally speaking, the gross yield ignores tax, the net yield allows for tax. Tax might be payable on coupons (income tax) or capital gains...
1. The original term was 35 years. They're requesting the change after 15 years from the start. 2. The proportionate paid up method doesn't...
1. yes - they're talking mainly about internal management accounts and so anything is "allowed" 2. Kind of: it means you could calculate...
Update from ActEd We're currently working with our parent company BPP to produce some e-books and hope to trial something in a couple of products...
Just go 100% for an Associate, given the exams are in order, and when you get there (or nearly there) decide if you want to go for Fellow. It...
1. In terms of relevant practice, you can pretty much go as far back as you like, 102, A1, Subject 2!! But given you've got three years of CT1...
I think anything is possible. No different to any other exam. But not sure how easy it is to do amazingly briliiantly on Q2 and it will depend...
I think Obri has hit the nail on the head. The transfer value half-way through the year means that the MWRR puts more weight on the poor returns...
Share Capital is part of the fund that belong to shareholders, so it's part of the free reserves, along with share premium account, retained...
Looks like they've done 8%(300 - 81), ie percentage of premiums less expenses (since expenses paid at start of the year but claims not until the...
The exam pass mark is probably around 50% (based on information previously published by the Profession). Your grade B does sound a little...
All of the London CA1 tutorials are very busy this session. Demand has far exceeded our expectations. However, we are in the process of adding...
It doesn't exist yet, but we would like to develop one or more part-time diplomas (replacing say the CTs, some of the CTs and the CAs or even the...
