There is only one specimen exam paper for the new format CA2 exam. Both paper 1 and paper 2 refer to the same model ie the music sales. My question is are the two papers always based on the same model? Can Paper 2 be based on a completely different topic to Paper 1?
Thanks for your reply ntickner, however won't future CA2 takers in this format will have the benefit of knowing whether this is "usually" the case? After a couple of years, even if CA2 students discuss no specific details of what was covered, I think there will be a general understanding of whether this is the case. It seems about as likely as students knowing that Assets and Liabilities can occur on both CA1 papers, but this is not necessarily the case, it is just very very likely etc If this is the case, it seems those taking it during the interim are at a distinct disadvantage not knowing whether they should spend the 6 days between papers considering alternative problems or not. I am currently half-way through on of these, and I am making the assumption that there the second paper is more likely relating to the same problem as in Paper 1, so I am focusing on thinking about how to present the results of this problem. Would it be a breach of the exam rules for me to post a follow-up post confirming whether this is correct? Thanks
I am also half way through one of these papers but I thought the Institute was pretty clear that the models wouldn't be the same based on this line on the website with the specimen paper: In this specimen examination both parts of the paper use the same model. In future CA2 examinations each part of the exam will use a different model. http://www.actuaries.org.uk/students/pages/subject-ca2-2015-specimen-exam-papers So I think it would be disingenuous to say this and then use the same model.
Ah, thanks for this! Sets my mind at rest. If anyone else struggle as much as me on paper then this might be a stroke of luck : )
It seems that the new format of exam allows less time. Now we only have 3h and 15 mins for the model and the audit trail. Previously, you could allocate about 2.5h on summary, 2h for audit trail and about 3.5h for the model.
This is a valid point, and one I picked up on in the March exam, where Paper 1 required a fair amount of modelling work to be done. That is, there were a number of steps that had to be taken, and then described. In the past, there used to be the opportunity to cross-subsidise the two parts of the paper - eat into your summary time by spending more on the model. This was evident in the results - it was very common for the model and audit to get better marks than the summary in the average submission. In March, I suspect that the reverse will be true - Paper 2 being handled better than Paper 1 in general, as students will have more time to dedicate to the summary, while having to rush through the model/audit trail a bit. Whether this is a good thing or not is not for me to say, but it certainly requires a change of strategy for Paper 1.
How would you allocate your time for Paper 1? I allowed 1 hour and 15 mins on audit trail and thus 2 hours on the model. However, the model was not complete.
btw, how is everyone doing for time for time for part 1? do you manage to finish your model, checks and audit trail in 3 h and 15 mins?
Hi guys, Does anyone know if there is a huge difference between the CA2 combined materials pack for the new format of CA2 compared to the previous format? I have the old one from my sitting in 2014 and so wandering if it will still be ok to use this for the new format? Thanks!
For CA2 it's only the assessment format that has changed rather than any serious content of the course. This means that the 2014 Course Notes are still valid in terms of how to build a robust spreadsheet, what should go into an Audit Trail, and how to compose a Summary Report. However, you need to be aware that any reference to the actual exam (eg its structure, format and timing) should be ignored. It's entirely your choice, but to give yourself the best possible chance of success in the new exam format I'd recommend you get hold of the latest version of the Course Notes.
