Hi, I sometimes completely misinterpret questions. Using Q2 vii in Sep 2011 paper as an example, I thought the question was asking for possible "problems". But the model answer has a lot on general pricing methods such as what rating factors to use and what loading to add. What confuses me more is in the subsequent question (viii) it uses the same word "issues" and the model answer actually talks about problems. How am I supposed to tell what the examiner means in cases like this? Thanks.
Unfortunately there's no definitive answer here. Generally speaking, 'factors to consider' would mean 'everything of relevance', and 'issues' would be 'problems' as you say. There clearly may be some overlap here. Sometimes students interpret a question in a slightly different way to how the examiners had hoped - the good news is that when finalising the marking schedule (after they've seen a few sample student scripts), the examiners will be lenient if many students interpret a question a particular way, if they deem that a valid interpretation. If you think there's a chance you've misinterpreted a question, it's always worth stating your assumption in your answer, so that the examiners can take that into account. Don't forget, the pass mark is around 60%, so you don't have to get anywhere near everything they mention in order to pass, so you would hopefully still be ok if you took a slightly different approach. Hope that helps!
