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CP1 – Actuarial Practice
5 sections available · 22 chapters available
Free CP1 – Actuarial Practice study notes for IFoA (Institute and Faculty of Actuaries) students. Each chapter below covers a key topic with worked examples and practice prompts you can take into the thinka app.
Actuarial advice and meeting the needs of stakeholders
General business environment
Specifying the problem
Apply the Actuarial Control Cycle
Understand the principles of organisational risk governance
Identify risks and understand how risk classification can be used in the design of financial products or for actuarial problem solving
Understand and apply the main methods of measuring and monitoring risk that can be used
Understand the main factors to be considered in deciding on the contract design of financial products
Recognise the potential risks and issues in working with data and understand how to manage those issues and risks
Developing the solution
Understand how models are used to solve actuarial or financial problems
Understand the considerations in setting the assumptions to be used for modelling an actuarial or financial problem
Understand the considerations for determining the cost of a financial product or benefit and the price charged to the consumer
Understand relevant investment management principles
Apply relevant approaches and techniques to the valuation of liabilities
Understand the relationship between assets and liabilities
Understand stakeholder responses to risk and how they can be managed
Recognise the importance of capital for an organisation
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