Hi Does anyone know if, in the early CTs, we get marks for the methods used, ie if the answer is incorrect due to calculations or using wrong numbers? Also if we get the wrong answer for part a) of a question and then use it in part b), will this automatically be wrong or can be obtain full marks for part b)? Thanks
Yes there are method marks available but you have to earn them. By this I mean it must be clear where you went wrong so you do need to leave a clear audit trail. For example write down your equation of value. You might have : value of premiums.... Then you write the formula, then the values then the answer. etc. If the value you want is tabulated, use it. Eg don't risk a slip working out an interest only annuity factor if its readily available to you. Once you make a slip, you cannot be penalised again. But if there is another mathematical slip you will lose another mark. Regarding carrying forward to another qn, you will still need to be clear that you are using the answer in (i) to get close to full marks. Another tip is if you feel your answer is unreasonable say so. You may not have time to fully rework it, so you could carry forward a 'reasonable guess' into part 2. I'm talking here if you get a probability > 1 ie you need to be very confident you are wrong before taking this move. So in short, you do pick up marks along the way so not all is lost if you have a 'bad calculator day'! Good luck
Sorry - I should have stated the obvious... the number of method marks depends on the number of marks available. If its a 2 mark qn it may be all or nothing!
