Hi all, I hope it is OK to ask a question like this here. I am repeating CP3 on the 20th and was looking through my mark breakdown the other day. I'm slightly worried that I may be making silly errors in my conclusion/summary. I wrote the below: Summary The FOA has issued an update notice requiring a series of mandatory and optional changes to policyholder projections. The above highlights potential changes from Safehavens’ current projection methods and provides an illustration of the stochastic method. If you have any further questions please don’t hesitate to contact me. Yours Sincerely Alex Smith Product Actuary I only scored 2 out of 6 of the available marks! (for my final reviewed, 3/3.5 on 1st and second review). Looking at the marking schedule and noting that I provided a date for the meeting in the introduction I'm wondering if anyone has tips on how to write a better summary/conclusion. I feel like I touched on some points below but clearly not enough to score marks. Summary/close [max 6] Currently a deterministic approach is used (1) Under the changes there will be the option to use a stochastic method to estimate future fund values (1) Confirm there are a lot of decisions to make about optional choices (1) Some definite changes are needed (1) Provide date of project meeting as requested (this could appear elsewhere and gain credit if its placement is appropriate ). (1) Offer of further assistance (1)
Hi Alex I'd say your introduction is too high level, although you don't want to repeat detail of the main body of your communication it nevertheless does need to highlight the key idea that you've discussed, ie deterministic vs stochastic modelling. In the conclusion it is often a good idea to set out the key action to be taken / recommendation if there is one, in this case it is an action, ie to set up a project meeting to make the final decisions. It was great that you offered to answer questions. So in summary, look to draw out the key idea you have been discussing and if appropriate give an action/ recommendation and that should boost your mark.
