APPROACH -SUMMARY REPORT

[dushyant kochar]

How many marks are there specifically for describing the "approach used" in the summary report? so suppose if someone rushes in this part of the summary report how much marks is he likely to loose? In the question there is always around 20 marks for the introduction, data, assumptions and approach, but how much is EXACTLY for the approach is never told. Plz help.

 

[Sarah Byrne]

The marks available for each element can vary for each paper so it is hard to break it down exactly. But, you could look at the examiner's report from April 2017 (available on the IFoA website) which includes marks against each item to help you work out a rough breakdown in that instance.

Do consider that rushing any area of the methodology section would lose marks under that specific area but also under the more general 'a senior actuary can understand what was done' section. There are also marks available in the summary drafting section for producing a clear/concise approach section (and introduction, data and assumptions too).

So, try not to rush it (you shouldn't be too time pressured in Paper 2) and do the best job you can of everything!

Good luck!

Sarah

 

[dushyant kochar]

The marks available for each element can vary for each paper so it is hard to break it down exactly. But, you could look at the examiner's report from April 2017 (available on the IFoA website) which includes marks against each item to help you work out a rough breakdown in that instance.

Do consider that rushing any area of the methodology section would lose marks under that specific area but also under the more general 'a senior actuary can understand what was done' section. There are also marks available in the summary drafting section for producing a clear/concise approach section (and introduction, data and assumptions too).

So, try not to rush it (you shouldn't be too time pressured in Paper 2) and do the best job you can of everything!

Good luck!

Sarah

Thanks for the reply ma'am