The aim of Actuarial Practice is to use the technical and business skill learnt in the Actuarial Statistics, Actuarial Mathematics and Business subjects combining them with new material on how the skills are applied to solve real world problems. The material provides the essential knowledge of risk management techniques and processes required by all actuaries and is an essential introduction to Enterprise Risk Management, subject SP9 and the Chartered Enterprise Risk Actuary qualification. The course also underpins all the other SP and SA subjects.
Actuarial Practice (CP1) builds on the technical material covered in all the earlier subjects and uses the techniques learnt to solve practical problems that might arise in any area in which actuaries practice. Additional material on risk management is introduced as an essential introduction to the Chartered Enterprise Risk Actuary qualification.
Please note - CP1 Paper 2 question papers have 45 minutes of planning time before the start of this examination. You may make separate notes or write on the exam paper but not in your answer booklet. Calculators are not to be used during the reading time. You will then have two hours and 30 minutes to complete the paper. Students are expected to read the question in full, and they can look at the formulae and tables.