S
Smith
Member
As taught by the CMP, all information included in the answer for CP3 exam should only be from the advance material and the question body. However, in the course of studying the X1.1, I'm really confused by the specimen solution, that there are several points, from my point of view, containing information that are not provided by the advance material and the question, such as:
1) the second paragraph of Executive summary, "...he removed...the requirement for an annuity to be purchased...", but there are not explicit wordings stating such requirement in given material.
2) the fourth paragraph of Executive summary, "Those who choose to purchase annuities are more likely to be in good health and live for longer." Although it's a common sense knowledge for actuarial students, but it seems not explicit stated in the given information.
3) the fifth paragraph of Executive summary, "we need to re-price annuity contracts...", this remedy solution is not mentioned in the given material too.
4) the last paragraph of the section of Implications for business and profit, "...the share price will react very swiftly...", this information is also not mentioned in the given material.
5) the first paragraph of the section of Implications for business mix and profit, the two bulletin points seems not given by the advance material and the question body.
6) the third bulletin point of the section of How to maintain profitability, "offering annuities where payments increase with inflation", is also not mentioned in the given material.
Indeed, above points, regarding the knowledge itself, are normal for actuarial students. But is it contradict with the stipulated principle of CP3 in the syllabus, that it is just a test of your ability to filter information and communicate it to a particular audience, instead of delivering some common actuarial points?
Thanks for advice!
1) the second paragraph of Executive summary, "...he removed...the requirement for an annuity to be purchased...", but there are not explicit wordings stating such requirement in given material.
2) the fourth paragraph of Executive summary, "Those who choose to purchase annuities are more likely to be in good health and live for longer." Although it's a common sense knowledge for actuarial students, but it seems not explicit stated in the given information.
3) the fifth paragraph of Executive summary, "we need to re-price annuity contracts...", this remedy solution is not mentioned in the given material too.
4) the last paragraph of the section of Implications for business and profit, "...the share price will react very swiftly...", this information is also not mentioned in the given material.
5) the first paragraph of the section of Implications for business mix and profit, the two bulletin points seems not given by the advance material and the question body.
6) the third bulletin point of the section of How to maintain profitability, "offering annuities where payments increase with inflation", is also not mentioned in the given material.
Indeed, above points, regarding the knowledge itself, are normal for actuarial students. But is it contradict with the stipulated principle of CP3 in the syllabus, that it is just a test of your ability to filter information and communicate it to a particular audience, instead of delivering some common actuarial points?
Thanks for advice!