Past paper questions (post-2019)

10/08/21 - file updated - please use the latest version!

Attached is an updated exam question log. The chapter references refer to the new 2019 Course Notes for Subject SA1. Given the high-level nature of Subject SA1 it isn't always possible to give a specific chapter reference, and in many cases the question part will cover material from throughout the course. This is question log intended as a guide only.

Some parts of questions have been marked as no longer examinable following the changes to Subject SA1 for 2019. Other parts could be examinable with a small modification (for example setting the question outside of the UK). This may mean that the solution would differ which you would need to consider when reviewing the Examiners' Report for the question.

We hope you find it useful when preparing for the Subject SA1 exam.

Kind regards
Sarah

 

For other subjects, question grids are available as part of our revision products. However, as there are no revision products for Subject SA1 we make it available on the forum to try and help students.

 

Hi Jesca

Sorry - we can only make it available as a pdf.

Sarah

 

Hi Becca

This question could absolutely still be asked - there was no material on it in the notes on 2015 either so you're not missing anything! Perhaps there may need to be some additional clarification about the solvency regime the insurer is in and therefore solution may be slightly amended. SA1 is non-EU specific, and so in a country under a different regulatory regime, VIF could still be appropriate. As you say under SII that may not be appropriate, in which case we could consider using the value of the BEL as a starting point. Similarly, the solution to part (iv) might then be slightly amended too - although many points are relevant to calculating the BEL and VIF.

Sarah

 

The file at the top of this thread has been updated for the April 2019 exam.

Thanks
Sarah

 

Aarti - the file at the top of the thread has been updated for the September 2019 paper.

Thanks
Sarah

 

Hi

Thanks for your message. An old version of the log was updated by accident - you're right, this question should show as no longer examinable. Please see the updated file at the top of this page. Apologies for any inconvenience caused.

Many thanks
Sarah

 

Hi Mary26

We have had some issues with uploaded files since the Forums are back up and running. I have re-attached the file to the post at the top of the thread (and also updated the log to include the April 2020 paper). Hopefully you are able to open it now - if not please let me know.

Best wishes
Sarah

 

The file at the top of the thread has been updated to include the Sept 20 paper.

 

Given that there are only 2 or 3 questions on the exam, then there won't be lots of questions in past papers of every topic. The material on IFRS and GAAP has only recently been added to the course, which explains its lack of past exam questions. Professional standards can come up as a small part of lots of questions, eg if the context of the question is writing a report, then it should comply with the relevant professional guidance such as quality of data and peer review. Analysis of surplus and EV have been examined a lot in SA2 and I will look out for some questions for you later in the week - you need to be careful though as SA2 used to contain a lot more detail on EV than the current SA1 course.

Best wishes

Mark

 

Here are some questions from past Subject SA2 exams that might be worth a look at for your revision of SA1:

April 2015 Q2 - Analysis of change in EV - in particular is VIF=0?
September 2015 Q1 - EV question on annuities (so similar to immediate needs long-term care)
April 2019 Q1 - Solvency II
April 2020 Q1 - Analysis of surplus and IFRS 17
April 2020 Q2 - Solvency II (the last part also looks at professional guidance APS X2 for 3 marks)
April 2020 Q3 - Tax

There are differences between SA1 and SA2 and so not every point made in these questions will apply for SA1. However, I've tried to avoid mentioning questions that are too specific to SA2, eg with-profits questions. I'm afraid I don't have a suitable ALM question from SA2.

Best wishes

Mark