Hello everyone How did you find the September 2020 sitting? I thought it was long but doable. I was takent aback by the XoL questions, wish I had a few more minutes to clean it up.
Felt the same way. I was also taken aback by the comment question... i felt it would have been easier had it been a describe question
I wasnt able to complete the paper, but I felt there was not a lot of bookwork, unlike old times, most of the paper was application based. Were you able to complete all the question with nothing unanswered?
i was able to complete the paper... but i felt i didnt do any justice to the 8 mark premium rate change questiona dn the 11 mark question on xol pricing I just wrote about how the reinsurer could go about using either exposure based or experienced based pricing and went on to explain the two methods... not sure if that's the best way to go with that question
Did you feel this paper was starkly out of line for an SP8, practically no book work, plus lengthy, plus most questions were application based.
I agree that the paper was long. There was less time to actually think and construct your answers unfortunately. Less bookwork type questions than April 2020 which was also an online exam. However, I think this will be the trend going forward given that it is an open book exam. I was thrown off at the comment about the premium rate formula and the describe XOL calculation of liabilities question in the end. I think these were the two hardest questions, total of 20 marks. Atleast the burning cost calculation was nice! In regard to time management, my strategy is usually 1.8 mins multiplied by the numbers of marks of the question. I try to stick to this and move on if the time runs out. That leaves me with 15minutes in the end to tackle any questions that I needed more time on. Hope that helps!
I anticipated that most questions would be application based or higher order based. Frankly i think this is the way it's going to be for future exams as well... What do you think the pass mark for this exam would be? Do you think it'll be as high as 60?
I feel this exam was a tad more lengthier and difficult relative to the April 2020 exam, my hunch is the pass mark could've around 57, what do others think?
felt the same, time pressured, and unsure about the rate change and xol pricing questions. for the rate change q, i simply wrote that there are two method to assess rate change, comment of adv & disadv i. use the formula to calculate individual policy rate change (+adj for limit, t&c, using ILF etc.) ii. use the formula to calculate portfolio level rate change for the xol q, i split the answers by commenting pricing methods for working layer, high layer, cat layer. then mentioned also other RI features like aal, aad, reinstatement etc. any Acted tutor could comment on these two questions?
