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CP3 Communications Practice

In October 2016, the Institute and Faculty of Actuaries (IFoA) announced that the current communications exam, CA3, will be replaced by CP3 in the new curriculum. While the new curriculum will take effect from 31 December 2018, a decision was taken to launch the new CP3 exam in September 2017

This page provides you with guidance on the format of the exam, an example exam paper, a sample marking guide, and examples of a good answer and a poor answer.

Format of the Exam

The CP3 exam will assess your ability to communicate effectively in writing to a non actuarial/non technical audience.  The CP3 computer based exam will consist of a single written exam.

The presentation element has been removed from the examination and is now completed as part of Work Experience/Work-Based Skills/Personal and Professional Development (PPD) 

The CP3 computer-based assessment is in two parts: 

Part 1: Scenario Material

You will be provided with scenario material a minimum of  three days before the assessment is due to be taken. 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.

Candidates are not required to undertake any research or additional reading relating to the technical material beyond what is provided in the scenario documents.

Part 2: Written Paper

The CP3 exam is a three hour 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.

Resources

You will find a sample exam paper, the relevant advance material, a marking guide and examples of a good answer that would result in a pass and a poor answer that would result in a fail.

These are provided to give you an illustration of the format, and support your preparation for the exam.

We have also created FAQs that you can read here.

Marking Process

Each script will be assessed by two markers (an actuary and a non-actuary) who will mark the script according to the marking schedule.

PPD Presentation Element

As part of the CP3 examination you will need to undertake an assessment of your communication skills. To find out the details and the how you submit evidence of this, please visit the PPD Presentation page.

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.