This question asks about the risks relating to a with-profit endowment policy. I took this to mean a pure endowment policy but the answers talk about an endowment assurance... Is it obvious that this would be an endowment assurance - am I missing something?
Hello Based on a brief look through past papers, the examiners tend to use "endowment assurance" rather than just "endowment" which hopefully removes the confusion. If a question did refer to an "endowment", this is generic - ie could be either an endowment assurance of a pure endowment. (This is consistent with how the terms are defined in the CA1 Core Reading). I've made a note to clarify this question to "endowment assurance" though for the next version of CA1 - thanks for pointing it out. Hope this helps and that the studying's going well Lynn
There's a guide on the profession's website: http://www.actuaries.org.uk/students/help_support/student_handbook/study_hours#1 But this is just a guide. If it was me I would want to put in enough hours to: - read both courses - do all the Q&A questions - do all the X assignment questions - do all the past paper questions from at least the last 3 years, if not 5 years - learn the key formulae and bits of bookwork Scary!