Subject CA2 frequently asked questions

Do I need any specific computer knowledge?

The assignments will require knowledge of computer spreadsheets and word processing using Office 2007. Guidance is given, in the document available via the link on the right, on the level of knowledge required. Past exam questions are provided to help students understand the level of knowledge required. Employers are encouraged to look at these to provide guidance to students.

Can sample questions be made available?

Yes, there are past exam questions on the website.

Can you delay attendance if the work on the pre-exam work suggests that the student is not yet competent? Will a refund be given if a student does not attend?

If a student has registered for attendance at the exam and cannot cope with the pre-exam work then attendance may be deferred but there will be some additional charge (for details of this you should refer to the cancellation policy in our exam policies document on the right). The past exam questions are intended for students to try before submitting their application.

What is the emphasis in the assessment?

The emphasis is on the audit trail developed in the spreadsheet and the ability to analyse outputs and interpret the results obtained so that conclusions may be drawn. The key assessments are clear communication through both the audit trail and summary. The aims of the exam are that the successful candidate should demonstrate:

• Analysis and summary of data
• Development of a model with clear documentation (including an audit trail) 
• Ability to analyse the methods used and the model's outputs 
• Ability to apply and interpret the results
• Communication of the approach, results and conclusions to a senior actuary.

The communication aspects are the main part of the CA2 exam and these account for over 80% of the marks. There are only 10 marks for the techniques used in the model.

However, it will be much more difficult to present useful results in the summary if the model does not reflect what the client has actually asked for, and much more difficult to include good reasonableness checks in the audit and added value analysis of the results in the summary, if the results are not robust and/or do not make sense.

The sample projects illustrate what is required, and students will also work through a detailed marking schedule for a past exam during Day One of the practical exam.

How will students fail?

The main reasons for failing are:

• producing a poor audit trail that would not allow a colleague to carry out a proper check of the work
• producing an inadequate summary of the work for a senior actuary.

Is there an appeals process?

Students may appeal and the arrangements are in line with those for the session based exams.

Students should read the Appeals Policy information, then complete the application form and send it to the Practical Exams Team in Oxford.

How much of the exam do retakers have to do?

Candidates can retake the two-day practical exam to benefit from the learning experience of day one. Alternatively, retakers can apply to attend one of the 'Exam only' dates which are now available - please see the application form. Retakers can also apply to take the online exam route (spaces permitting).

Will a student who performs badly on day one be sent home?

If a student appears really badly prepared then this might be a recommendation but we do not envisage this happening often.

What happens if a student keeps failing?

We hope that this will not be the case. We offer exam counselling in this subject.

Will marking of assessments be too subjective?

An Assessors’ handbook has been developed with detailed criteria to ensure that assessors follow a similar approach. Assessors receive training and all results are reviewed by the Principal Assessor's team to ensure a consistent standard.

How long is the assessment?

The student will be able to spend all day on the assignment if they wish.

Will it be open book?

Yes, relevant Core Reading will be available in the room.

How much study time is needed?

Our suggestion at present is 50 hours.

How will a student practise if s/he has no home computer, or will it have to be done in office time?

We hope that employers will allow students an opportunity to practise if they do not have easy access to a computer.

Can it count towards work-based skills log?

The development in the office is likely to form part of work-based skills but the attendance at the two-day exam is less likely to count.

Could the whole exam be done by an individual at home?

An online exam version is available for students who would find attendance at an assessment centre difficult.

What happens if the IT system crashes?

Procedure notes are available on alternatives for each venue.

Will there be security in exam centres?

This is one of the requirements we are making on venues.

Will ActEd provide training?

Yes, a course with marked practice assignments is available, plus a face-to-face revision day with mock exam.

Will a pass list be published on the website?

Yes.

Will the exams be available in overseas locations?

Yes, separate information is available on the website.