We are continuing to invite students to apply for the CA2 Model Documentation, Analysis and Reporting modules, and many dates are on offer. Students who cannot attend a face-to-face course in the UK or overseas can now enrol for the Distance Learning version of the course.

• Application form for courses in July 2008-June 2009 [pdf]
  Includes dates and fees for courses currently available
• Application form for one-day retake exam, July 2008-June 2009 [pdf]
  Includes dates and fees for courses currently available
• Guidance on knowledge students will be assumed to have.
  We have set out the knowledge we assume students will have before studying for the CA2 Module. Sept 2006 [pdf]
• Course content, including start and finish times May 2007 [pdf]
• Sample projects
• Information for non-UK students
• Exam counselling service
• Frequently asked questions
• Distance Learning version: based on the same material

Further information can be obtained by contacting courses@actuaries.org.uk

Aims of the CA2 Module

The aim of this module is to ensure that the successful candidate understands how to model data, document the work (including maintaining an audit trail), analyse the methods used and outputs generated and communicate the approach, results and conclusions.

The successful candidate will be able to 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 technical audience

Previous related study

Based on the feedback from students and employers during the first year of this module it was decided to use the following criteria for courses from 1 September 2006. The student is strongly recommended to satisfy the following:

• seriously attempted subjects CT1-CT8 or their earlier equivalents (having gained a pass, FA or FB)
• with one year’s work experience
• and with employer approval

This means that the student and employer have great flexibility in deciding when they work through this module and can apply before they meet the above criteria. However, students should bear in mind that the examination assignment can draw on material from CT1 – CT8.

Better candidates are those who have experience of communicating technical material to peer and senior colleagues. Hence, students may wish to wait until they have tackled CA3 or CA1 before taking this module.

Students need some familiarity with computer based spreadsheets and word processing packages. The test centres have Word and Excel packages. Guidance on the level of knowledge required is on the website.

Module format

The course is a 2-day event. In advance a number of Excel techniques and a practice assignment are worked on, which must be brought to the course.

The first day is intended to help students feel prepared for the assessment and on the second day the assessment takes place.

Preparation: (Day 1)
a.m.:
Aims of module
Feedback from pre-course work on Excel techniques
Good spreadsheet design and audit trails, working on a new assignment

p.m.:
Good summaries
Review of pre-course assignment, using marking schedule
Outline of the main reasons why students fail

Assessment (Day 2)
Students work on individually assessed assignment

Students with special needs

Students are reminded that special measures, such as extra time, are available for this module. However, students need to apply for these measures in the normal way and have these agreed for CA2 in advance with the Courses team. More information

Sample projects

As further guidance on the module, we provide four sample projects. The worked solutions given for Projects L6, L3, L1 and L2 are intended to demonstrate the standard required for a good pass. They are not perfect solutions and other approaches will be acceptable.

The first two of these projects, Projects L6 and L3, are previous examination assignments which have been worked through by the examiners to illustrate what is required of students.

Project L1 is a little shorter than a full examination assessment, and Project L2 is shorter and less complex than the examination will be.  However, both are useful examples of the techniques and outputs required for this course.

Please note that all the projects are intended to show the broad scope of this course.  You will work on the audit trail and communications aspects, in particular, during the first day of the course.

Sample Project L6 - Greyhound racing

• Instructions, background and additional information [pdf]
• Spreadsheet of data [excel file]
• Summary [pdf]
• Spreadsheet [excel file]

Sample Project L3 - Assurance premiums

• Instructions and background including relevant Core Reading [pdf]
• Spreadsheet of data [excel file]
• Summary [pdf]
• Spreadsheet [excel file]

Sample Project 1 - Historical market data analysis

• Instructions [pdf]
• Spreadsheet of data [zipped excel file] 
• Summary [pdf]
• Spreadsheet [excel file]

Sample Project 2 - Estimating the volatility parameter (sigma)

• Instructions [pdf]
• Summary [pdf]
• Spreadsheet [excel file]

Examination assignments

Students will be provided with some data and be asked to build some simple models, document the work, including maintaining an audit trail, analyse the methods used and outputs generated and write a summary outlining the description, approach, results and conclusions. They will hand in a spreadsheet with appropriate documentation and the summary. The summary is intended to demonstrate that the candidate has understood the task, the models produced and the results, and can communicate these to a senior colleague. Students can ask the assessor for help to move them forward. Help given will be recorded and taken into account in the assessment. The software used is a spreadsheet (Excel) for the model and audit trail and a word processing package (Word) for the summary. The instructions for the assignment will indicate which Core Reading is relevant and include relevant extracts from the Core Reading. Students can bring in reference books. Copies of Core Reading for subjects CT1-8 and Formulae and Tables will be available in the room. During the assessment refreshments will be available including tea/coffee breaks and a compulsory lunch break (minimum ½ hour). Students will not be permitted to speak to each other about the assignment.

• Assessment criteria

Student conduct

There have been a number of instances of unprofessional behaviour from students attending the CA2 Module. Students are reminded that:

• They are expected to behave appropriately throughout the course
• In particular, Day 1 is conducted in a relaxed atmosphere but it is still part of the assessment. Bad conduct, including misuse of the computers and disruptive behaviour, may result in the student being dismissed from the course and being refused entry to the exam. Dismissal from the course will be treated as a disciplinary offence.
• The exam on Day 2, or through the Distance Learning version, carries the normal strict exam requirements as set out in the Examination Regulations

Any evidence of plagiarism will be treated seriously.

Results

Results will be released according to a fixed schedule of dates.The process is the same as for the other CA examinations, namely, each script is marked by the assessor and the marks are reviewed by the Principal Assessor’s team to ensure consistency of standards between modules. A pass list is agreed, together with fail grades for unsuccessful candidates. Results are reported to the Board of Examiners. Candidates will be notified by letter. Results will also be published on the website.

Further details about this service for students will be announced on the website once the review is complete.

Retakers

Candidates who are retaking this subject can:

• attend a further two day course to benefit from the learning experience on Day One
• just sit the exam either:
  
• • an 'exam only' day - see the One-day Retakers application form for dates
  • a Distance Learning exam - see the Distance Learning application form for dates

Pass rates

We have seen a fall in the pass rates for this subject with the main reasons for failure being:

• 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 colleague.

Better candidates are those who have experience of communicating technical material to peer and senior colleagues. Hence, as mentioned earlier, students may wish to wait until they have tackled CA3 or CA1 before taking this module.