The task in Assignment X1 Q1 is to reply to a letter querying why the transfer value (TV) has changed. You are asked to include an explanation how the TV will change in future. The specimen solution describes the effect of interest rates and of the passage of time, but omits the effect of changes in assumptions other than interest rates. I appreciate that the more you write the greater the probability of overwhelming the recipient. On the other hand, the marking schedule sets aside marks for both completeness and for professionalism. Given that there is a good chance that assumptions will change, the specimen solution could arguably be marked down, since we may be setting ourselves up for irate future letters on future TV changes that are not explainable by interest rate changes. So my question is the following: To what extent should we err in our answers on the side of simplicity at the cost of risking being incomplete/unprofessional?
