Results, Commentary and Next Steps. Marks for incorrect answer.

[N_Exam]

Hi,

I have done the Sept 2020 Paper 2 exam. It is about an insurance company that is bringing out a new product to insure mobile phones.

The final scenario is to find (using Goal Seek) a policy excess that results in a given profitability for the product. However, my answer was incorrect. I thought my answer was wrong but pressed ahead with the exam.

My Results, Commentary and Next Steps related to this incorrect answer were done correctly (e.g. I did the plots correctly and made valid comments etc.) but they were centered around this incorrect answer. Thus, the commentary, conclusion and next steps would not be in the examiners solutions and the examiner would have to exercise their judgment whether to give me any marks.

This leads me to ask:-

· So if this was my exam, would I receive any results, commentary, conclusion and next steps marks associated to this incorrect answer?



· If I think an answer is slightly wrong. I will bring attention to it by saying e.g. “this needs further investigating to verify its accuracy”. But should I then make commentary, conclusion and next steps point on it in order to get marks?


Thank you,

 

[Sarah Byrne]

If you get an incorrect result that then leads to incorrect conclusions you will lose some marks for your discussion of the results. However, the extent would depend on how far away form the expected your conclusions were. If your next step was reasonable you may still be given credit for this.

It's worth adding that you will still be able to earn the majority of marks in the summary report - marks for the introduction, method, inclusion of tables/charts and all the other discussion of results and next steps. There will also probably be results available from the model received at the start of the task to discuss and earn marks from.