Hi all, 1. How much time would you suggest to spend on when you draft for Results/conclusion and Next Steps? The Institute's guideline is to spend 2 hours on drafting the summary. But given that lots of marks are available for these sections, I was wondering how much time I should be allocating to these sections. 2. For Next Steps sections, how many bullet points should we be aiming for? 3. Also when you draft the methodology parts for a summary, the key difference from Audit Trail is the audience, i.e. the audience for the summary is a senior actuary rather than a colleague/student. However you still need to give specific details around data and assumptions used. Apart from not needing to mention any specific cells/reference to excel formulas in the summary, what else can I do/not do for the summary document (compared to audit trail)? I am struggling to understand clearly what I should/should not do in terms of delivering the methodology based on audit trail in a summary document. Many thanks in advance CA2 student
Hi 1. That's going to depend a little bit on the project, but you could use the number of marks available as a guide since the split is often given for these subsections. 2. The Course Notes suggest between 12 and 15. 3. The Summary explains how the model works, and the Audit Trail explains how the spreadsheet works. For example, the Summary might talk about a cashflow projection which includes premiums, expenses and claims, whereas the Audit Trail explains how the formulae actually work.
Hi Steve, Many thanks for the very helpful comments especially around differentiating between the summary and the audit trail. The purpose of the two different drafts are now clearer to me. Thank you.
Hi hperth, I would love to spend more than 2 hours on drafting the summary if I can. But I usually end up spending full 1 hour just going through audit trail, model and carrying out the extra spreadsheet work. Thanks for your comment anyway!
