Actuarial Qualification Scheme – Part III – Core Practices (CP’s)
The Core Practises (CPs) exams are made up of CP1 – Actuarial Practice, CP2, – Modelling Practice and CP3 – Communications Practice.
The CP1 exam consists of two exams i.e. a 3-hour paper exam which requires short answers and a second paper with longer case study type questions. This 2nd paper will allow for 45 minutes of planning and 2.5 hours of writing time.
The CP2 exam consists of two 3 hour online exams. Both exams have to be taken and passed together.
The CP3 exam was introduced in September 2017. The presentation element of the previous CA3 exam has been replaced by an element of the new Personal and Professional Development scheme. The CP3 exam is now a 3-hour online exam. Students are provided with scenario material 3 days before the exam. Materials could include a number of documents such as written communications between relevant stakeholders, articles, data sets, tables and charts. The exam will be based on this material.
More information about the current exam content can be found here.