Does anyone else think that this was a really unfair question? It's actually a technically difficult concept to explain compared to say describing different annuities. I think it's the hardest question in the last ten years. I will definitely fail if something like that comes up again. I would be interested to know the tutor's opinion. I know a normal amount of people passed but I have no doubt the examiners had to be generous when marking in order to meet their quota.
Yes it was a really unfair question. But expect more of the same as they would rather persuade you to pay £750 to do their practical course.
prayer Dear God: Please forgive me for remembering you only during exams. But I pray, and I pray, please do not have us to explain the Black-Scholes formula in CA3. Last time it was Immunisation, and it was too bad!
I agree that it was probably the hardest CA3 question ever. However, in CA3 if you get such an apparently technical question you should keep reminding yourself that it is a layperson to whom you are writing. You can't be expected to educate a layperson upto a high standard of understanding in 500 words (it takes pages and pages in the ActEd notes!). Focus upon the key, simple, high-level concepts that they could be expected to understand and don't try & convey all the other technical details. Keep it simple!
