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dok87
Member
Omg!
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I felt sick after the exam...
Even though I thought I have done enough revision, on the day I spend too long doing the AOS, panicked and run out of time at the end...
I am fairly certain I've failed so will need to retake.
Good thing is I am doing P2 soon will still need to keep my SA2 knowledge up to scratch.
I'm exactly the same as above, both with the AOS panic and doing P2 ASAP.
Typical Institute though! Q1 i) and ii) where again so ambiguous that you could only pick up on the difference in request if you had done lots of past paper questions and just so happened to stumble across it.
Most people I spoke to afterwards took i) as calculate the AOS, and ii) comment on it. These kind of questions are unfair cause in a work context if someone asked you to "derive" the surplus arising and then "analyse" it; you can always ask a follow up question to clarify what they want. This kind of ridiculousness is just a play on words.
I thought the rest of Q1 was fair. I thought Q2 was also fair but I'm kicking myself for not picking up on the change in corporation tax going forward I to 2014 and 2015. Lots of comments on this I missed out on.
Q3 - really helped to have read up a little, but struggled with time in the final two parts to get enought down.
Shame cause I think the paper probably was passable!
See you in September!
I'm almost certain the examiners wanted to find out whether the students knew the difference between surplus at beginning and end of year, surplus arising during the year, and which components contributed to surplus arising over the year.
I think there are at least four "big" components of modelling in actuarial valuation - 1. GPV/NPV reserving including ICA/Pillar2 capital, 2. EV including cost of capital, 3. AoS, 4. AoEV (not taking into account the actual reports and FSA returns). Hence it's not actually a surprise that we got an AoS question.
Im just curious to know in what past paper that a similar AOS question also appeared?
The paper was generally fairer than recent papers in my opinion as there was a decent spread of topics tested. However, I didnt pick up many of the first 28 marks on the AOS question (only wrote about 3 pages in total for that 28 mark part and a lot of that was nonsense!!) so that will set me back a fair bit.
Anyone have any idea what the pass mark may be??