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CP2- Data section paper 2 Summary

J

JoeKing

Member
Should we include the actual data tables with numbers or not? It seems to be inconsistent across the solutions each year. Should we include tables of the fixed, variable costs etc. The population tables etc. It seems unclear to me now. Is the criteria to include if it's a small table and omit if too many tables or too large an individual table. Thanks in advance for your advance for your guidance.
 
As a follow on query. Would I be right in thinking that if there are data checks in the audit trail then include those details in the summary report but if not to state that the data is reasonable in so far as and give a couple of examples why the data is not obviously wrong? Thanks
 
Hi Joe,

I have picked up your queries:

For the first one - I have never included a table data in the Summary Report. The thing is to describe which data you have been provided as part of the modelling exercise that you used.
Fort the second one - You would need to discuss at a high-level on the different data checks you/your colleague performed on the data as you need to remember the audience is an Actuary. You can discuss on the errors found and how this was corrected and give comfort to how you validated the data by showing, for example, a data summary.

Hope this helps!
 
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