Separate names with a comma.
Hi, I have one more question on the last sentence in the answer to Q7.6 (iv). It is said that "Corporate policies and more recent protection...
Thank you Lindsay.
Hi, I do not fully understand the answer to Q2. Here the corporation tax is calculated as (BLAGAB profit + Non-BLAGAB profit) * corporation tax...
Hi, I am reading the examiner's report of the 2019 September sitting. I noticed that the examiners are looking for a welcoming language and tone....
Thanks Lindsay, this is exactly what I was looking for. Sorry for the confusion in my question, I indeed missed a 'not'.
Thanks a lot for this detailed answer. It helps me greatly! English is my second language so I guess that slows me down a bit. I will try with the...
Hi, I am doing some past exams and am struggling with time management for paper 1. I can easily go about 7-8 pages, which is impossible under...
Hi, I have a question on 2020 April paper. I am wondering why a brief summary of The Daily article is necessary? I would expect some readers of...
Thank you Sarah!
Hi, I have a question on the result section in the sample summary (last paragraph on page 4). The statement is: "The expected claims under the...
Thank you!
Thank you very much for the detailed answer! May I ask if paraphrasing is a good idea? Sometimes I find it inevitable to repeat some backgrounds...
Hi, I have two general questions: In the exam instructions, it is asked to use double spacing. However, there is normally a limitation on pages...
Thanks Sarah!
Hi, Thank you for the answer. I think this is something slightly different. In the calculation sheet provided, this formula is used for each...
Hi, I guess this is not necessarily a question about CP2 contents, but I am struggling to understand the formula under "First year's premiums":...
Hi Lindsay, Thank you very much for the quick and detailed reply. I appreciate it very much!
Hi, I am searching for past papers and I only found three on IFoA website: CP3 and CA3 Past exam papers, reports and syllabus | Institute and...
Thank you very much Sarah!
Hi, I bought the CMP end of 2021 but only started to prepare for it this year. I am wondering if there exists an online section (like Y...
Hi. In the third bullet point, it is mentioned that share prices in closed-ended funds are also more volatile than the prices of the underlying...
Thanks a lot, very clear! Nice holidays :-)
Hi, I have a small question on question (iii) on page 9. The question asks to list the circumstances when an institutional investor would be very...
Hi, Thanks a lot for looking into this. I am still struggling to understand one point: why is there loss related to a leasehold? if there is...
Hi, I am reading the texts on page 15 of Chapter 9, and the following texts got me a bit confused: "Compared with freehold investment, a...
Thank you very much Richie, and my apologies for forgetting to include the question number, hope that didn't cause you trouble locating the question.
Hi, thanks a lot for the answer! It makes much more sense now to me.
Hi, The question is on page 23 and the answer is given on page 25. I do not understand the 6th bullet point given in the answer: issuer...
Hi, I have a small question on the text on page 9 of CP1-08: Bond and money markets (Chapter 8). The text is explaining the reason for holding...
I would suggest you to write to education services as soon as possible, then you might still be able to save it (if needed) before the scripts go...
The answer given deducts 13981 calculated in cell M60 from the end of the accumulated amount of 50000. However, this 13981 is the end of year loan...
Thanks Steve!
The question is on page 3 and the answer is given on page 16. In the answer to (ii), it says that since the risk-free rate is included, the...
Hi, When applying the Bornhuetter-Ferguson method, I noticed for the first year (the year with full run-off), sometimes the initial expected...
Hi, I am struggling to understand why we need to switch to real-life probability measure for Q5 (ii) and why risk-neutral probability measure is...
I asked IFoA about this, below is the quote of reply I received from them: "In the past we did ask you to put your ARN in the header/footer. We no...
This is a bit worrying me. What I did is to copy and paste what I wrote during the exam, for example, if I wrote out a formula, I copy and paste...
Hi, I checked with IFoA on this last year. Below is the quote of the answer I got from them: If you have already typed some text or a...
Hi, I am so sorry that I might be very late to discover this problem. I am hoping somebody might know the answer here. On page 32 of the...
No, CFA does not take exemptions from what I understood.
Thanks a lot!!!!
Hi, I might be very late to ask this, but would really appreciate it if somebody could help here. In the calculation sheet given for Q3 (iii),...
Hi Steve, Thanks for looking into this. The bullet point I am referring to from the chapter summary is the second one, where it states the drift...
The question is on page 1 and answer's given on page 3. My question is regarding the second bullet point given, where it considers the drift of...
Thanks all for answering. I also got a reply from exam support today, please find below: "You can copy and paste work from Excel or R, for example...
Thanks a lot!
Hi, I am reading the examination guidelines for 2021 September exam and I find it very confusing to understand whether or not copying and pasting...
Hi, I do not fully understand why the term assurance component and the deferred whole life assurance component are independent of each other....
Hi, When doing the 2nd question 11 (page 8 for question, page 54 for answer) from CM1 ASET 2016 April paper, I noticed a very large rounding...
Clear, thanks a lot!
In Q24.1 (question on page 45, answer on page 51) of the chapter end practice questions, (i) states that the dependent probabilities of decrement...
Hi Mark, Thank you very much for this very detailed reply. I can tell I was terribly wrong earlier. Thank you very much for explaining this so well.
Hi Steve, Thanks a lot! Sorry English is my second language and I really failed to see the difference between "settled" and "paid".
The question is on page 6 and the answers are given on page 31. I have a small question about the fourth assumption given in (ii) of the...
Hi Steve, Again, thanks a lot for the very fast reply. I think I am getting it, but just to make sure I am getting it right: What the question...
Hi Steve, Thanks a lot for the answer. I still don't quite get it. Let me refine my description: if there was one claim from an accident 2 years...
In the example question on page 6 of chapter 21, the subquestion (ii) says if the table shows the amounts of claims paid, tabulated by reporting...
Hi Steve, Thanks a lot for the answer. I understand it now.
The question is on page 25 and the answer is given on page 32-33. I do not fully understand how the share bonus and cash bonuses are calculated...
Thank you very much Joe for always being very helpful here!
Thanks a lot for the very detailed answer, it helps me greatly! :-)
Hi, I am preparing for CM1 exam this year and I noticed that the symbols for annuity factors are extremely difficult to type out in word compared...
No problem at all and thanks again for answering. I was not very certain so good to have this confirmation from you! :)
Hi Steve, Thanks a lot for the answer. There is one thing that I still do not fully get: the question is asking for the Tail Value at Risk at...
The question is on page 26 and the answer's given on page 33. I do not really understand the very last step/formula, why do we need to add the...
I personally think for September 2021 sitting, what matters most is once they determine a format, they stick to it and be clear on the rules. The...
Sorry my sincere apologies, now I see how wrong I was, I took the maturity benefit as the real benefit here, but actually they are premiums. Sorry...
Hi Joe, Thanks again for answering. I now understand it! :-)
Hi Joe, First of all, thanks a lot for helping out again here! The equation given by the answer (89049.01 = 400 + (12X) * a..... + (12X) *...
Question is on page 37 and answers are given on page 43-45 I have two questions related to (i) of this question: 1. I got a bit confused of what...
I'm lucky here, I got 77 and passed. 47 is really not that far away from the pass line given experience and given the increased level of...
Hi, I have some email correspondence with IFoA team before the April exam regarding how to reference correctly. Although I asked for an example...
The question is on page 21 and the answer is given on page 24 and 25. My question relates to the calculation at the bottom of page 24. In the...
Hi Joe, sorry for the late reply. Thank you very much for the explanation, I see I indeed made a mistake by relating this question to the texts...
I do not fully understand why the state that only the male is alive is expected to have the largest reserve: The sum assured for the first death...
In the answer given, the mu_(70+t) is derived from q_70. But since mu_70 is directly available in the Tables, why cannot we directly use mu_70 for...
Indeed, I left a comment to IFoA that I find the communication this time way worse than that of the 2020 Sept sitting. I remember they listed all...
I could not finish all the questions as a lot of typings were required (almost same amount as in a writing exam, and I was suffering from the...
I also found it harder than previous ones, and I had the wrong idea that there would be 25% multiple choices. Needless to say, I could not finish...
Hi, I am brand new to the exam. I would like to know if it is still wise to take the new CM1 exam in April with this current syllabus change? Or...
