Is the exam paper likely to have questions this copied from real life? I thought it was more likely to ask hypothetical case studies.
The exam paper may be more likely to have hypothetical case studies. But the syllabus states (my emphasis in italics): 2.6 Demonstrate the application of ERM to real and hypothetical contexts: 2.6.1 Discuss important past examples of both good risk management practices and of risk failures, and discuss how better risk management might have prevented these failures 2.6.2 Analyse hypothetical examples ex ante and discuss how the situations described could benefit from risk management. Specific case studies are discussed in the Core Reading and hence students may be expected to be familiar with them (at least be familiar with the key risk management lessons - examiners are unlikely to test the detail). Check out April 2012 Question 8. Is Happy Cow a hypothetical case study or is it a past example of risk management failure?
Simon, Thanks for replying to my question, and thanks for link to Parmalat. Parmalat isn't mentioned in either Lam or Sweeting, so it would seem unfair of the Institute to assume knowledge about it, or reward that directly in the mark scheme. This is my first UK exam. Also, Simon, what is the benefit of getting ActEd marking of assignments if we get given the mark scheme anyway? Can't I add up the points, and see what I missed, myself? Thanks, Rioch
Hi Rioch - you are right - the examiners would assume no prior knowledge of any particular case study if not mentioned in the Core Reading. Hence giving quite a lot of description of the scenario in that question. Perhaps if they had asked about one of the case studies in the course notes they could have been briefer as they would expect students to be familiar with the case? They would certainly not expect you to have encylopedic knowledge of any case study. Re Marking: you are welcome to mark your own script (many students do). If an ActEd marker does it for you they will use their experience of the exams to add additional comments and feedback to help you develop your answers and your exam technique. We are likely to be more objective than you will be. Sales pitch over
