Core Practices
Aim of this subject
The aim of Subject CP1 is to understand how to apply the underlying actuarial principles, mathematical and statistical techniques as well as business finance and economics concepts to a range of problems and issues in commercial and business environments, focusing on problems and issues in financial services, with application to wider domains and industries.
Context within the wider curriculum
Associate Qualification - Subject CP1 builds from the CB, CS and CM subjects.
Fellowship Qualification - Subject CP1 underpins the SP and SA1 subjects, where the concepts CP1 develops are used to solve more complex problems, produce coherent advice and make recommendations in specific practice areas.
CP1 also provides an essential introduction to Subject SP9 and the Chartered Enterprise Risk Actuary (CERA) credential.
Assessment
The Subject CP1 assessment comprises two timed online exams, which are each 3 hours and 20 minutes.
How to study Subject CP1
ActEd's Combined Materials Pack (CMP) is our essential package for studying Subject CP1 efficiently and effectively. It includes the Course Notes, assignments, and a mock exam, as well as access to the 'Studying Subject CP1' course in our virtual learning environment, The Hub. The pack spans across all the main phases of exam preparation from preparing to learn, through learning and checking, to rehearsing and assessing.
There are ten parts to the Subject CP1 Course Notes. The parts cover related topics and are broken down into chapters. At the end of every other part there is an assignment testing the material from that part. The Mock Exam comprises two 100-mark papers (Paper 1 and Paper 2), testing material across the whole course.
Advice for students studying CP1 over two sessions
As the materials are updated yearly, students who plan to sit the exam in September but intend to start studying before April will not need to update their materials.
The Subject CP1 Online Classroom provides access for 13 months and so can be used over two sessions without an additional purchase.
Other products and services to help you
The full range of products and services available for Subject CP1 is shown below. An overview of ActEd's products and services, and guidance on how to choose the best ones for you, can be found here.
Aim of this subject
The aim of Subject CP2 is to understand and apply the critical steps to model data, document the work, create and maintain an audit trail, analyse the methods used and outputs generated and effectively communicate to colleagues the approach, results and conclusions.
Context within the wider curriculum
Associate Qualification - Subject CP2 uses techniques and applies concepts from the CS and CM subjects and Subject CP1.
Assessment
The Subject CP1 assessment comprises two timed online exams, which are each 3 hours and 20 minutes. Answers are submitted in Word and Excel.
How to study Subject CP2
ActEd's Combined Materials Pack (CMP) is our essential package for studying Subject CP2 efficiently and effectively. It includes the Course Notes, assignments, and a mock exam, as well as access to the 'Studying Subject CP2' course in our virtual learning environment, The Hub. The pack spans across all the main phases of exam preparation from preparing to learn, through learning and checking, to rehearsing and assessing.
There are three parts to the Subject CP2 Course Notes. The parts cover related topics and are broken down into chapters. There are also three assignments: one focussing on Excel, on focussing on audit trails and charts, and one similar to a CP2 Paper 2 exam. The Mock Exam comprises two 100-mark papers (Paper 1 and Paper 2), testing material across the whole course.
Other products and services to help you
The full range of products and services available for Subject CP2 is shown below. An overview of ActEd's products and services, and guidance on how to choose the best ones for you, can be found here.
Aim of this subject
The aim of Subject CP3 is to provide effective written communications of a technical nature to a non-technical audience. These communications need to convey appropriate information without unnecessary complexity, through the use of appropriate forms of communications, use of appropriate language and identification of the relevant issues to be addressed for the intended audience.
Context within the wider curriculum
Associate Qualification - The communications drafted in the Subject CP3 exams will be based on real-world actuarial scenarios and so knowledge of the CB, CS and CM subjects and Subject CP1 will be useful.
Assessment
The Subject CP3 assessment is a timed online exam, which is 3 hours and 5 minutes.
How to study Subject CP3
ActEd's Combined Materials Pack (CMP) is our essential package for studying Subject CP3 efficiently and effectively. It includes the Course Notes, assignments, and a mock exam, as well as access to the 'Studying Subject CP3' course in our virtual learning environment, The Hub. The pack spans across all the main phases of exam preparation from preparing to learn, through learning and checking, to rehearsing and assessing.
There are seven chapters to the Subject CP3 Course Notes. There are three assignments and a mock exam, which have the same format as the CP3 exam.
Other products and services to help you
The full range of products and services available for Subject CP3 is shown below. An overview of ActEd's products and services, and guidance on how to choose the best ones for you, can be found here.