Hello, As part of my preparation, I am attempting past question papers under SA2. I often see topics/terminology in the questions that I cannot find in any of the study material. For example, I often see "peak 1/2" under solvency-related questions. In Sep 2014 exam, I see "Part VII of the Financial Services and Markets Act 2000", and I have no idea what this is. I do see the act itself mentioned on page 401, but no details or even any mention of part VII. I could of course google it and find out. But in real exam conditions, we would need at least a basic familiarity with a topic, as reading the topic for the first time during the exam will eat up too much time. In general, when I see such topics in past exam papers (which I cannot find in the study material), should I assume that these are simply outdated topics that are no longer relevant to future exams (meaning we should not expect questions about them in the future)? Or will candidates be expected to google, read and apply to the question at hand? Thanks, Regards, Phani
Hi Phani, I am not an ActEd tutor but since I just did SA2 in April, I think its worth chipping in my opinion. The examples you mention above are in fact out of syllabus. If you have the ASET past papers, these questions will be excluded. However do bear in mind that it is possible to be given unfamiliar terms in the exam, except that they won't expect you to know them straight away; there will be a brief description on what they are. You are expected to apply your SA2 knowledge from the core reading to deal with it. For example, they can set a question saying country X is coming up with a new regulation, describing what is happening in such regulation. And then discuss the implication of this change to the insurers in country X. Hope this helps, Trevor
Hi - just to clarify on these points. In terms of the question that you mention in Sept 2014: Part VII transfers are described in the course notes. They are first mentioned (briefly) in Core Reading included in Chapters 7 and 8, and the transfer process is then described in more detail in Section 6 of Chapter 9. Hence that question is still in scope - and we do include it in the ASET product. References to Peak 1 / Peak 2 relate to the Solvency I regime as applied in the UK, so the details underlying this methodology are no longer included in the Core Reading. However, most of the questions set in a Solvency I environment would still be useful as question practice - for example, think about how you would answer it differently if asked in a Solvency II context. Our ASET 2014-2017 product includes adjustments to the questions / solutions for years 2014-2017 to reflect subsequent syllabus changes. It also includes a grid showing a mapping of the question parts from 2008 to 2017 to chapters - and this excludes all those which would no longer be examinable. Hope that helps.
