Core Practices
Advice For Students Studying Subject CP1 For The 2023 Exams
Subject CP1 may well be the first later exam or indeed the first IFoA exam that you are sitting. We have produced a series of video units to provide you with some guidance on studying this subject which we hope will be useful, particularly if you are new to the 'IFoAs exams.
The first unit covers Introduction and key concepts
The second unit covers Study skills
The third unit covers Exam skills
We have a range of study materials that you can use when sitting Subject CP1. We have broken the materials down into those that we consider to be 'essential' and 'highly recommended' plus those products which can make your revision very effective. Students learn in different ways so you will need to read the details of each product to see what will work for you.
For advice about which products to choose, please read our product guide. Advice on the exams, revision and our products is also available in our Tutor Talk videos.
Essential
| Product | Description | More information |
|---|---|---|
| Combined Materials Pack (CMP) | Ideal for those sitting the subject for the first time. It comprises the Study Guide, Course Notes and Series X Assignments. | This is available in eBook or paper format (except PBOR, which is accessed via a VLE). Please refer to our CMP page. |
Highly recommended
| Product | Description | More information |
|---|---|---|
| Tuition Face-to-face/Live Online/Online Classroom | Choose from a Regular Tutorial, Block Tutorial or Online Classroom. | Please click here for further details of the types of tuitio for further details of the types of tuition and the Tuition Bulletin which details the courses available. |
| Series X Marking / Marking vouchers | We are happy to mark your attempts at the X Assignments. Objective, personalised feedback from a high quality marker will highlight areas on which to work and help with exam technique. | Marking is not included with the Series X Assignments or the CMP and you need to order it separately. Please refer to our Marking page to get more details of how you can get your scripts marked. |
| Mock Exam | An exam-standard Paper 1 and Paper 2 to use as a realistic test of your exam preparation. | This is available in eBook or paper format. Click herefor more information on Mock Exam for more information. |
| Mock Exam Marking | Feedback on your weaknesses and areas needing more attention is really useful as you approach the exam. | Marking is not included with the Mock and you need to order it separately. Please refer to our Mock Exam Marking page for information such as deadline dates. |
| Additional Mock Pack (AMP) | Consists of two further mock exams and it is ideal if you are retaking and have already sat the Mock Exam, or if you just want some extra question practice. | This is available in eBook or paper format. Marking is not included with the AMP and you need to order two Marking Vouchers if you would like the additional mocks marked by ActEd. |
Effective Revision
| Product | Description | More information |
|---|---|---|
| Revision Notes | A set of A5 booklets which are perfect for revising on the train or tube to work. Each booklet covers one main theme of the course and includes: Core Reading with a set of integrated short questions; relevant past exam questions and solutions; plus other useful revision aids. | These are available in eBook or paper format. These can be particularly useful for retakers. See the Revision Notes page to read more details about this product. |
| ASET | Contains ActEd's solutions to recent past exam papers, plus comment and explanation. | This is available in eBook or paper format. Click herefor further guidance on ASET for further guidance. |
| Flashcards | A set of A6-sized cards that cover the key points of the subject that most students want to commit to memory. | These are available in eBook or paper format. The Flashcards page has more information. |
| Sound Revision | A set of audio files, designed to help you remember the most important aspects of the Core Reading. | The recordings cover the majority of the course, split into a number of manageable topics based on the chapters in the Course Notes. |
Advice for students studying CP1 over two sessions
As the materials are updated yearly, students who plan to sit the exam in September 2023 but intend to start studying before April 2023 will not need to update their 2023 materials.
The Subject CP1 Online Classroom provides access for 13 months and so can be used over two sessions without an additional purchase.
Advice For Students Studying Subject CP2 For The 2023 Exams
Recent changes
The syllabus and format of the CP2 exam are very similar to the CA2 exam, which it replaces. The one change to note is that the Examiners have said that the CP2 exams will put more emphasis on issues relating to data.
Course Notes
ActEd has produced course notes which we recommend you use in your preparation. These include sections covering:
- the principles required for analysing data, developing a model, creating an audit trail and presenting results
- advice on using software and exam technique tips
- a detailed worked example and a sample marking schedule
- the syllabus
- aims, further reading and useful checklists
- example spreadsheets, audit trails and summary reports
- self-assessment questions and projects.
Course Notes are available in printed format and as an eBook, which can be purchased as an addition to the printed product or as a stand-alone product.
Here are some samples from the Course Notes:
Download Analysing Data Sample
Download Worked Example Sample
The Course Note samples are in Adobe Acrobat format, and you will need the latest version of Adobe Acrobat Reader to view and print it. If you don't have Adobe Acrobat Reader, you can download it here.
You may also like to use one of ActEd's Assignments and Mock Exams to help you prepare for the CP2 course.
Data files for the Worked Examples in the Course Notes
We have presented two Worked Examples of the Course Notes. The instructions for both projects are in the course notes along with a full analysis of a set of solutions produced by a student attempting them under exam conditions.
The data for the Paper 1 Worked Example is contained in the text - so no data file is required if you wish to try the question 'hands-on' rather than just reading through the student's solution presented in the Course Notes.
For the Paper 1 Worked Example, the solution audit trail is in the Course Notes. The solution spreadsheet model is available here:
Download Worked Example Project (Paper 1)
The Paper 1 Worked Example spreadsheet above is also the starting point for the Paper 2 Worked Example. So, if you wish to try this project 'hands-on' you will need this spreadsheet along with the audit trail from the Course Notes.
For the Paper 2 Worked Example, the solution summary report is in the Course Notes. The solution spreadsheet model is available here:
Download Worked Example Project (Paper 2)
Face-to-face and Online Tutorials
The CP2 Preparation Day builds upon the CP2 Course Notes. It helps develop the required documentation skills and technical Excel knowledge needed to pass Subject CP2, using an exam-style question as a case study. We offer the choice of an online or face-to-face course, where students will need to bring their own device capable of running the required software (eg Excel, Word).
An Online Classroom is also available, which is a great alternative to a tutorial, particularly if you're not based in the UK or near a tutorial venue.
Please view the Tuition Bulletin to see the courses on offer. Full details of the application process can be found Full details of the application process can be found here.
The Subject CP2 Online Classroom is a collection of units covering the key elements of the CP2 exam. The Online Classroom contain a mix of:
- teaching, helping you to really get to grips with how to meet the objectives of Subject CP2, and
- exercises demonstrating key skills you will need for the exam.
How does the Online Classroom differ from the Preparation Day for Subject CP2?
Preparation Days give a full day of tuition with a group of students at a scheduled time which includes working through example assignments. However, the exam skills covered in both the Online Classroom and the Preparation Day are the same.
What else is in the Online Classroom?
Just like a face-to-face tutorial, in addition to all the tutorial units, the Online Classroom also provides documents (downloadable) containing:
- the exercises and solutions
- checklists for you to use in the exam
- guidance on how and when to use the Online Classroom, and how to integrate it with your other study resources to best suit you and maximise your chances of exam success.
Students booked onto a confirmed CP2 Preparation Day or who have previously attended a CP2 Preparation Day may purchase the Online Classroom at a significantly reduced cost. Please refer to the retaker rate.
Students will have access for up to 13 months.
Online Classroom demo
The best way to discover the Online Classroom is to see it in action. You can watch a sample of the CP2 Online Classroom introduction video.
Assignments and Mock Exams
In addition to the tutorial support for CP2, we offer a set of Assignments and Mock Exam papers, which give you an opportunity to practise the skills needed for the CP2 exams.
Please note that Assignment 3 and the two Mock Exam papers are updated versions of the Mock Exams we offered for CA2. So these may not be suitable for you if you have already attempted them previously.
Assignments
There are three Assignments:
- Assignment 1 (1¾ hours) focuses on the Excel aspects of CP2
- Assignment 2 (1¾ hours) focuses on the audit trail, summary report and charts
- Assignment 3 (3¼ hours) is similar to a CP2 Paper 2 exam
Assignments 1 and 2 require you to submit written answers (similar to the assignments in the other subjects).
Assignment 3 requires you to produce a spreadsheet model (using MS Excel) and an audit trail (using MS Excel or MS Word).
To attempt Assignment 3, you will need to download the file Assignment 3 Spreadsheet Model.
Mock Exams
Our main Mock Exam contains two papers to mimic your real exam:
- Paper 1 (3¼ hours) is similar to a CP2 Paper 1 exam
- Paper 2 (3¼ hours) is similar to a CP2 Paper 2 exam
To attempt Mock Exam Paper 1, you will need to download the file Mock Exam Paper 1 Data.
To attempt Mock Exam Paper 2, you will need to download the file Mock Exam Paper 2 Spreadsheet Model.
We also offer an Additional Mock Pack (AMP, which contains two further Mock Exams (Mock Exam 2 and Mock Exam 3), each containing two papers.
To attempt Mock Exam 2 Paper 1, you will need to download the file Mock Exam 2 Paper 1 Data.
To attempt Mock Exam 2 Paper 2, you will need to download the file Mock Exam 2 Paper 2 Spreadsheet Model.
To attempt Mock Exam 3 Paper 1, you will need to download the file Mock Exam 3 Paper 1 Data.
To attempt Mock Exam 3 Paper 2, you will need to download the file Mock Exam 3 Paper 2 Spreadsheet Model.
The Mock Exam and AMP is available as an eBook as well as printed paper.
Marking
We offer marking of the Assignments and Mock Exams by an ActEd marker. The marker will provide you with detailed feedback on your work and highlight potential areas for improvement to maximise your chances of success in the exams. You will also receive a breakdown of your marks. Model solutions are also provided.
In order for ActEd to mark your Assignments and Mock Exams in good time, we recommend that you submit your work for marking at least 4 weeks before your exam. In any event, the Assignments and Mock Exams must be submitted before the final deadlines in order for us to be able to mark them.
ActEd's Solutions with Exam Technique (ASET)
ActEd Solutions with Exam Technique (ASET) contains exam papers along with ActEd's full solutions including techniques for tackling exam questions.
ASETs are available in printed format or as an eBook. EBooks can be purchased as an addition to the printed product or as a stand-alone product. ASET is fully up-to-date in respect of changes to the Syllabus and Core Reading.
You require some electronic files in order to complete some CP2 exam questions. For your convenience these files are given below.
ASET includes not only a possible solution to each question on the exam paper, but also comments to help you with your exam technique, alternative approaches and references to the course material.
ASET is a useful complement to the Examiners' Reports (available from the IFoA website).
Advice For Students Studying Subject CP3 For The 2023 Exams
CP3
We recommend that you study for CP3 after you have tackled all of the Core Principles subjects (or equivalent CT subjects) and CP1 (or CA1). When thinking about when to take CP3 please also bear in mind that it can't be 'crammed', as it requires practice!
We've got lots of tools and resources to help you maximise your chance of success in the CP3 exam ... have a look at the 'Timeline for Success' below, and Click on the individual elements for more information. Planning ahead will pay dividends!
We've also considered questions that students may ask about CP3, and you can download these and our answers in our FAQ document download these and our answers in our FAQ document here.
If you are unable to click on the individual elements in the graphic above please use the list below.
- CP3 Course Notes
- CP3 X Assignments
- CP3 Online Classroom
- CP3 Tutorial
- CP3 ASET
- CP3 Mock Exams
- CP3 Exam
Course Notes
We have a range of study materials that you can use when sitting Subject CP3. Have a look at the 'Timeline for Success' for more information.
Course Notes and Assignments for CP3
We recommend you purchase our Course Notes and X Assignments using our estore.
The Course Notes for Subject CP3 have been written to teach you the general principles and techniques of good business writing, and to give you advice on passing the CP3 exam. The notes should be worked through before attempting any exam-style questions (eg assignments).
The notes are relatively short (about 170 pages) - a sample (including content pages) is available to download download sample noteshere.
Course Notes are available in printed format and as an eBook, which can be purchased as an addition to the printed product or as a stand-alone product.
Assignments
The main way to become a good 'actuarial communicator' is to practise.
The Series X Assignments are included in the Combined Materials Pack. They can be purchased with or without marking.
These assignments have the same format as the actual CP3 exam. Material that must be read in advance of attempting the questions under exam conditions is supplied as part of the assignment pack. This material includes numeric data, and spreadsheets containing this data can be downloaded below.
Please refer to the latest corrections document before completing your assignment(s).
- Download 'first spreadsheet for X1'
- Download 'second spreadsheet for X1'
- Download 'spreadsheet for X2'
- Download 'spreadsheet for X3'
The CP3 coversheets for the 2023 assignments and mocks can be found The CP3 coversheets for the 2023 assignments and mocks can be found here.
If you don't have Adobe Acrobat Reader, you can download it here.
Assignments
The Online Classroom is an exciting new approach to studying for the actuarial exams. It acts as either a valuable add-on to a tutorial (face-to-face or live online) or a great alternative to a tutorial, particularly if you're not based in the UK or near a tutorial venue.
Key highlights
-
Comprehensive
Content equivalent to a typical tutorial, including easy-to-understand tutor explanations of topics, tutor-guided question practice and questions and solutions handouts. -
Interactive and multi-sensory
You study actively, pausing the recordings to answer questions and checking your understanding throughout. By watching, listening and participating in short chunks, you enhance the learning process.
At the heart of the Subject CP3 Online Classroom is a comprehensive, easily-searched collection of 12 tutorial units. These contain a mix of:
- teaching, helping you to really get to grips with how to meet the objectives of Subject CP3, and
- guided questions, enabling you to learn the most efficient and effective ways to meet the requirements of the CP3 exam.
Online Classroom demos
The best way to discover the Online Classroom is to see it in action. You can watch an excerpt from a CP3 Online Classroom tutorial unit here:
What else is in the Online Classroom?
Just like a face-to-face tutorial. in addition to all the tutorial units, the Online Classroom also provides documents (downloadable) containing:
- key learning from each unit
- the tutorial questions
- solutions to the tutorial questions, alongside exam hints and tips
- information about the exam
- guidance on how and when to use the Online Classroom, and how to integrate it with your other study resources to best suit you and maximise your chances of exam success.
Students booked onto a confirmed CP3 tutorial or who have previously attended a CP3 tutorial may purchase the Online Classroom at a significantly reduced cost. Please refer to the retaker rate.
Students will have access for up to 13 months. After expiry, if you wish to re use the Online Classroom in the same subject, you will need to re-register and an additional fee will be payable.
Tutorials
To build upon your learning from the CP3 Course Notes and help develop the communication skills you need to pass the exam you may like to attend one of our one-day tutorials (delivered face-to-face or live online). The tutorial includes exercises providing opportunities to practise your written communication skills. You will leave the tutorial with your own personal action plan so that you know how you need to improve before the exam.
Please view the Tuition Bulletin to see the tutorials on offer. Full details of the application process can be found Full details of the application process can be found here.
Advice For Students Studying Subject Cp3 For The 2023 Exams
We have a range of study materials that you can use when sitting Subject CP3. Have a look at the 'Timeline for Success' for more information.
We recommend that you prepare for the Subject CP3 Exam by completing at least one mock exam under exam-style conditions.
Mock Exam If you use our Mock Exam you will be prompted to download a spreadsheet. You should not download it or review it until prompted to do so. The spreadsheet can be downloaded by clicking on this link..
If you choose to have your Mock Exam answers marked by ActEd then you will need to purchase Mock Exam Marking or a Marking Voucher and you will need to email your answers in pdf format. However, if you would prefer to self-mark then you can use the full marking schedule and example solution supplied with each mock exam.
If you choose to have your Mock Exam answers marked by ActEd then you will need to purchase Mock Exam Marking or a Marking Voucher and you will need to email your answers in pdf format. However, if you would prefer to self-mark then you can use the full marking schedule and example solution supplied with each mock exam.
Additional Mock Pack The Additional Mock Pack (AMP) consists of two further mock exams. It is ideal if you are retaking and have already sat the Mock Exam, or if you just want some extra question practice. Marking Vouchers can be used if you would like the additional mocks marked by ActEd (Mock Exam 2 and Mock Exam 3 cannot be marked using Mock Exam Marking).
If you use our Mock Exam 3 you will be prompted to download a spreadsheet to refer to with the advance material. This spreadsheet can be downloaded by clicking on this link for spreadsheet to refer to with the advance material in Mock Exam 3.
Subsequently, when reading the questions you will be prompted to download a 'further information spreadsheet' for Mock 3. You should not download it or review it until prompted to do so. This spreadsheet can be downloaded by clicking on this link for download a 'further information spreadsheet' for Mock 3.
The Mock Exam and AMP are available in eBook or paper format.