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CP3 Communications Practice FAQs

  • 1. What happens if I want to qualify after I have taken and passed CP3 in September 2017 or April 2018?

    You will be required to complete a declaration, which will be submitted alongside your WBS documentation that explains that you have given a presentation either in the workplace, externally as part of your work requirements, or on a work related training course. This must be submitted before 1 September 2018.

    This declaration should also be signed by a Fellow. This will form part of the final sign off process. All other qualifiers from the September 2019 exam session onwards will have to complete the presentation requirements as part of PPD. More information can be found on the PPD Presentation page.

  • 2. What happens if I have already taken CA3 and passed it? Do I have to do anything else?

    No, your CA3 exam will hold as a pass in the communications element of your qualification. If you are still writing your WBS and wish to qualify as an Associate before September 2019 or a Fellow before September 2020 then you may need to complete additional PPD but this is explained here.

  • 3. What is the CP3 exam?

    The CP3 exam is a revised edition of the current CA3 exam. It will assess your ability to communicate effectively in writing to a non actuarial/non technical audience. The CP3 computer based assessment will consist of a single written exam. The presentation element from the current CA3 exam has been removed and placed into PPD from September 2017.

  • 4. What is the structure of CP3?

    The CP3 computer-based assessment is in two parts:

    • Part 1: Scenario Material
    • Part 2: Written Exam

  • 5. What is the scenario material?

    You will be provided with scenario material a minimum of three days before the written exam. This could include a number of documents such as articles, written communications between relevant stakeholders, data sets, tables and charts.

    This will give you the opportunity to review the materials and familiarise yourself with the scenario, and the subject area before sitting the exam. The exam question will be set around the scenario on which the advance material is based.

  • 6. What is the exam format?

    You will be provided with scenario material a minimum of three days before the written exam. This could include a number of documents such as articles, written communications between relevant stakeholders, data sets, tables and charts. This will give you the opportunity to review the materials and familiarise yourself with the scenario, and the subject area before sitting the exam. The exam question will be set around the scenario on which the advance material is based.

    The CP3 is a three hour written paper, which will have two questions:

    • First question - A written communication piece such as a written report, a memo, a letter or a set of briefing notes.
      • 90% of the overall mark.
    • Second question - A short reflective piece which will give you the chance to justify the style and structure of communication and the choice of charts/tables or diagrams you have used in your written answers. .
      • 10% of the overall mark.

  • 7. What if I don't need the full three hours?

    Three hours is the allocated time for this exam

    We don’t want you to feel time pressured when answering the exam question and the three hours will ensure you have sufficient time to complete it. You can upload your submission at any time within the three hours if you have finished the exam question.

  • 8. How often will I be able to take the exam?

    You can take the exam twice a year (April and September).

  • 9. Are there any prerequisites to taking CP3?

    There are no pre-requisites and you can take the CP3 examination at any time, although you may wish to have some relevant work experience to understand the context in which the question will be set.

  • 10. Is this still a computer-based exam or is it moving to an exam centre?

    CP3 is a computer-based online exam.

  • 11. Is the exam marked by actuaries?

    Yes. Each script will be assessed by two markers: an actuary and a non-actuary.

  • 12. Where can I find out more about PPD?

    You can find out more about PPD and the transition rules if you are still a student of the IFoA on the PPD page.

  • 13. Who can I talk to if I have any more questions?
    You can speak to our Education Team.

Contact Details

Education Services Team

education.services@actuaries.org.uk

Institute and Faculty of Actuaries, 1st Floor, Park Central, 40/41 Park End Street, Oxford, OX1 1JD

+44 01865 268207

We aim to respond to all enquiries within two working days.

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Events calendar

  • Implications of 2019 IFRS 17 Exposure Draft

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    24 July 2019

    Fully booked.

    The International Accounting Standards Board (IASB) recently published an Exposure Draft (ED) of limited changes to its insurance contracts standard IFRS 17, effective date 2022.

  • Insurance Investment Roundtable with the IFoA & PRA - 25 July 2019

    EY Offices 1 More London Place London, SE1 2AF
    25 July 2019

    Fully booked.

    The IFoA hosts regular roundtable meetings with the PRA on best practice in insurance investment and the application of the Prudent Person Principle, which governs insurance investment under Solvency II.

  • SIAS Event: Climate Zero to Climate Hero

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    3 September 2019

    Spaces available

    An introductory session to help you get ahead with climate change.

    • Science, terminology and initiatives: handy facts to keep in your back pocket 
    • Getting your point across: how to influence people and avoid common traps and pitfalls
    • Taking action: what are actuaries expected to do...and what are we actually doing?
  • KSS event – The Regulatory Perspective

    Deloitte Saltire Court 20 Castle Terrace Edinburgh EH1 2EG
    5 September 2019

    Spaces available

    This KSS talk, presented by the FCA Head of Department in Scotland, will focus on the following 3 main areas:

    • FCA business plan priorities
    • The future of regulation
    • FCA Engagement in Scotland
  • Sessional Research Event - Risk Margin Working Party

    Staple Inn Hall, High Holborn London, WC1V 7QJ
    9 September 2019

    Spaces available

    For life insurers in the UK, the risk margin is one of the most controversial aspects of the Solvency II regime. Following its implementation, the risk margin came under considerable criticism for being too large and too sensitive to interest rate movements. These criticisms are particularly valid for annuity business – such business is of great significance to the national system for retirement provision. This criticism has led to political interest, and the risk margin was a major element of the Treasury Committee inquiry into Solvency II.

  • GIRO Conference 2019

    EICC, The Exchange, 150 Morrison St, Edinburgh EH3 8EE
    24-26 September 2019
    Spaces available

    GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year. 

     

  • The Future of the Actuarial Profession

    Staple Inn Hall, High Holborn London WC1V 7QJ
    3 October 2019

    Fully booked.

     

    Three actuaries – and CEOs – discuss their views on how the business world is changing and what that might mean for actuaries in the future.

  • Spaces available

    Have you ever thought about working in wider fields? Would you like to play a role in the fight against climate change to make the planet better? 

    It can be difficult to do this - but seeing an example you can follow can make it more realistic. In this ‘green’ case study a template is outlined to show how actuaries can apply their skills more broadly - and in doing so, to make a difference.

  • Sessional Meeting - Autonomous Vehicles and impacts on the wider insurance industry

    Staple Inn, High Holborn, London WC1V 7QJ         
    28 October 2019

    Spaces available

    The Institute and Faculty of Actuaries is running a sessional meeting on autonomous vehicles on 28th October.  The session will showcase the work of the IFoA “Autonomous Vehicles” working party alongside a number of expert external presenters. 

  • Life Conference 2019

    The Convention Centre Dublin, Spencer Dock, North Wall Quay, Dublin 1
    20-22 November 2019
    Spaces available

    The Life Conference is the premier event for professionals interested in life insurance.  Offering a wide range of workshops and plenary sessions it’s the perfect opportunity to discover what’s hot and current in life insurance ensuring you get up to date on the latest thinking and innovation whilst meeting and exchanging ideas with a broad range of professionals.

  • Autumn Lecture 2019, London - Rt Hon Nicky Morgan MP

    Lincoln's Inn The Treasury Office, London WC2A 3TL
    2 December 2019

    Fully booked.

    The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker.  Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.

  • Autumn Lecture 2019: Live Streaming

    Webinar 
    2 December 2019

    Spaces available

    Watch the live stream of this year's Autumn Lecture with guest speaker Rt Hon Nicky Morgan MP.