acted student brochure 2014

on behalf of the Institute and Faculty of Actuaries

The Actuarial Education Companyon behalf of the Institute and Faculty of Actuaries

Student Brochure for the 2014 exams

The Actuarial Education Company

Welcome Welcome to ActEd’s brochure for the 2014 examinations. Our comprehensive and innovative study products, together with our marking services, teaching expertise and highly regarded professionalism and enthusiasm, give all students the opportunity to maximise their chances of exam success. We would like to highlight a few products that we have released recently: Our Online Classroom is now available in all CT Subjects as well Subjects CA1 and CA3. The Online

Classroom is a great alternative, or addition, to face-to-face tutorials. To discover more and try out the demos visit www.ActEd.co.uk.

If you prefer some live interaction with a tutor but are unable to attend a face-to-face tutorial, then look out for our Live Online Tutorials, which we plan to offer in many more subjects this year. Full details can be found in the latest Tuition Bulletin.

MyTest, our new online revision product, is now available in Subjects CT1, CT2, CT7, CA1, ST2, ST4, ST5

and SA2. You can see a video of MyTest in operation on our website at http://bit.ly/ActEdMyTestDemo.

Course Notes as well as CMPs and Flashcards are now available as eBooks.

If you are retaking a subject this year, please have a look at the CMP Upgrade for the relevant subject before starting your studies. Although there are few changes to the exam structure this year, some syllabuses and the Core Reading have been reviewed and updates to your material will be required. Finally, when ordering from ActEd, we encourage you to use our e-store at www.ActEd.co.uk/estore to ensure that your order is processed as quickly as possible. Good luck with your studies for the 2014 exams. The Actuarial Education Company on behalf of the Institute and Faculty of Actuaries

The Actuarial Education Company McTimoney House 1 Kimber Road Abingdon Oxfordshire OX14 1BZ www.ActEd.co.uk Discussion Forum www.ActEd.co.uk/forums

General queries [email protected] +44 (0) 1235 550005 Fax: +44 (0) 1235 550085 Accounts queries [email protected] +44 (0) 1235 550015

ActEd study programmes 2013/14 Page 1

Contents

Page

Core study materials 2

Revision materials 3-4

Specialist materials 5

Marking 6

Tutorials 7

Advice for students

New students Retakers

8

Advice for students

Students waiting for results Students studying Subjects CT7, ST6 & ST9 Students studying Subject CA1 over two sessions

9

Prices 10-11

Discounted materials and despatch charges 12

Refunds and cancellations 13

Students living outside the UK and Ireland 14

ActEd and the Institute and Faculty of Actuaries 15

How to order 16 Record your ActEd student number here for easy reference. You will need this when you order materials, apply for tutorials and submit assignments for marking. If you are a new student we will assign you a number when we receive your first order.

ActEd student number:

ActEd study programmes 2013/14

Core study materials Our core study materials enable you to develop the basic knowledge and understanding of the principles needed to pass the exam. If you wish, you can supplement these with revision materials. These core study materials are available in all subjects except CT9, CA2 and the Practice Modules. Materials for Subject CA2 and the Practice Modules are described on page 5. Combined Materials Pack The Combined Materials Pack (CMP) is ideal if you are sitting a subject for the first

time. It comprises the following: Study Guide Course Notes (incorporating complete Core Reading) Question and Answer Bank (except for Subject CA3) Series X Assignments.

CMPs 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. In Subjects CT7, ST6 and ST9, the full-price CMP also includes the textbooks referenced by the Core Reading. These textbooks are not currently available as eBooks. Please refer to page 9 for more information.

Course Notes The Course Notes, available in print or as an eBook, will help you develop the basic

knowledge and understanding of principles needed to pass the exam. The Course Notes incorporate the complete Core Reading and include a full explanation of all the syllabus objectives, with worked examples and short questions to test your understanding. In Subjects CT7, ST6 and ST9, students are also required to read material in specified textbooks, which do not form part of the Course Notes. Please refer to page 9 for more details.

Assignments ActEd’s Series X Assignments contain a range of mainly exam-style questions (with

full solutions) to test your understanding of the course. They are ideal for first-time sitters, as they are co-ordinated with each part of the course to give you exam practice as you progress through the Course Notes. If you also purchase marking (which is not included in the price of the CMP or Assignments, please see page 6) then you can have your assignments marked by ActEd. Please visit www.ActEd.co.uk for more details.

Question and Answer Bank The Question and Answer Bank is a comprehensive bank of questions

(including some past exam questions) with full solutions and comments. CMP Upgrade 2013/14 For many subjects, the CMP Upgrade enables you to amend your 2013 CMP to make

it suitable for study for the 2014 exams. Where possible, it includes all significant changes to the Core Reading between 2013 and 2014. However, if a large proportion of the material has changed significantly, making it inappropriate to include all changes, the upgrade will only outline what has changed. In this case we recommend that you purchase a replacement CMP (printed copy or eBook) or Course Notes at a significantly reduced price. The CMP Upgrades can be downloaded free of charge from our website at www.ActEd.co.uk.

Core Reading In most subjects, ActEd’s Course Notes include the complete Core Reading

integrated within the ActEd text. In Subjects CT7, ST6 and ST9, students are also required to read material in specified textbooks, which do not form part of the Course Notes. Please refer to page 9 for more details. If you are a student member of the IFoA and have purchased the ActEd Combined Materials Pack in the same subject, then you may order a stand-alone copy of the Core Reading at a specially discounted price. All other orders for Core Reading should be made from the IFoA website. Please refer to page 15 for more information about Core Reading.


Revision materials

Our revision materials help you to reach exam standard quickly and efficiently in the final weeks before the exam. For advice about which products to choose, please read our product guide, which can be found on our website. ASET and Mini-ASET ActEd Solutions with Exam Technique (ASET) contains recent exam papers along

with ActEd’s full solutions including techniques for tackling exam questions. (Please visit www.ActEd.co.uk for more details of the papers covered by ASET.)

ASET is fully up-to-date in respect of changes to the Syllabus and Core Reading. It 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). It is available in Subjects CT1-8, CA1, ST1-2, ST4-9 and SA2-4.

Mini-ASET is available later in the year and covers the April 2014 exam paper. It will be available in subjects in which ASET is available.

Revision Notes Our Revision Notes have been designed with input from students to help you revise

efficiently. They are suitable for first-time sitters who have worked through the ActEd Course Notes or for retakers, who should find them much more useful and challenging than simply reading through the course again.

Revision Notes comprise a set of A5 booklets – perfect for revising on the train or tube to work. Each booklet covers one main theme of the course and typically includes: Core Reading with a set of integrated short questions to develop your

bookwork knowledge up to ten years of relevant past exam questions with concise solutions detailed analyses of key past exam questions (selected for their difficulty) other useful revision aids.

Revision Notes are currently available in all of the CT Subjects, CA1 and ST1, ST2, ST4, ST5, ST7 and ST8. (Please note that due to the use of a textbook in Subject CT7, the Revision Notes do not include the full Core Reading.)

Flashcards The A6-sized Flashcards cover the key points of the course that most students like

to commit to memory and are an excellent supplement to our other study materials.

Each flashcard has a question on one side and the answer on the reverse. We recommend that you use the cards actively and test yourself as you progress through the course. Flashcards are available as eBooks as well as a printed product and are currently available in CT1-CT8, CA1 and ST1, ST2, ST4, ST5, ST7, ST8 and ST9.

Sound Revision Sound Revision is a set of audio CDs, designed to help you remember the most important aspects of the Core Reading. The CDs cover the majority of the course, split into a number of manageable topics based on the chapters in the Course Notes. The CDs are perfect for the train, tube, or car journey to work, or where taking folders and course notes is not practical. Students can upload the CDs onto an MP3 player if it is more convenient.

Sound Revision is available in Subjects CT2, CT7, CT8, CA1, ST2, ST4 and ST5.


Revision materials

Mock Exam A Mock Exam A is available in the subjects for which we produce core study materials. It includes two papers for Subject CA1 and one paper for each of the other subjects. Mock Exam A can be purchased with or without marking. (See page 6 for details of our marking products.)

Additional Mock Pack The Additional Mock Pack (AMP) consists of two further mock exams –

Mock Exam B and Mock Exam C. It is ideal if you are retaking and have already sat Mock Exam A, of if you just want some extra question practice. Marking Vouchers can be used if you would like the additional mocks marked by ActEd.

Some employers automatically order mock exams for their students and so you may wish to check with your employer before buying either Mock Exam A or the AMP from ActEd.

MyTest MyTest is a new online revision product specially written for actuarial students. The more you use it, the more it learns about the gaps in your knowledge and understanding. Questions become ever more focused onto these gaps, until they are filled.

Some of the questions in each large bank of My Test questions are multiple-choice and can be marked automatically, while others force you to think of your own answer before comparing against a given solution. At the end of a MyTest session, you are given visual feedback on how you scored. Good or bad, you will know immediately.

MyTest is available in Subjects CT1, CT2, CT7, CA1, ST2, ST4, ST5 and SA2. You can see a video of MyTest in operation on our website. We also have a free demo of MyTest so that you can try out the system for yourself. The demo contains 20 sample questions (half from CT1 and half from CT7), and you can log in using the following details:

http://www.acted.co.uk/mytest user name: 100 password: demo

The demo works identically to the full version of MyTest except for the “suspend” feature which is only available in the full version.


Specialist materials Our specialist materials are designed to meet the needs of specific groups of students in specific subjects. A short set of Course Notes is available to help you prepare for the Subject CA2

Practical Exam. Our Marked Assignment Projects give you the opportunity to practise assignments of a similar standard to the one you will face on Day 2 of the Exam. The projects will require you to produce a model in a spreadsheet (using MS Excel), an audit trail and a summary (using MS Word). We will mark your script and return it via email, providing useful feedback to help to ensure that you are successful when you take the Exam.

If you purchase the CMP, Course Notes or Core Reading in your chosen SA subject

and you are planning to sit the Practice Module exam, then you will also need the generic Practice Module Core Reading. You can order it using the e-store or on ActEd's standard order form using the product code "P0".

Our Multi-choice Booklets offer over 400 multi-choice questions to help students prepare for their exam. The questions cover both the generic material (covered by the P0 Core Reading) and the subject specific material (covered by the Core Reading in the relevant SA subject).

The Foundation ActEd Course (FAC) is designed to help you refresh and improve your mathematical skills in preparation for the CT Subjects and is recommended by the IFoA.

FAC covers the mathematical skills that are required for the CT Subjects. It is designed as a reference document and each chapter contains explanatory notes, examples and self-assessment questions to test understanding. There is also a summary test and a Question and Answer Bank, providing extra practice.

For more information, visit our website at www.ActEd.co.uk, where you’ll find the full Syllabus for FAC, a sample of the Course Notes and an initial assessment to test your mathematical skills.

StatsPack StatsPack is designed to help if you haven’t studied statistics before, studied

statistics a long time ago or are struggling with Subject CT3. Each chapter of the course notes contains explanatory notes, examples and self-assessment questions to test understanding, as well as extra practice questions for consolidation. The StatsPack Online Classroom contains pre-recorded tutorials with worked examples, which complement the course notes. We recommend that you purchase the complete Stats Pack, which contains both the Course Notes and Online Classroom, but you may also purchase one of the items separately.

The Subject CT3 notes cover all the material required for the Subject CT3 exam but some students can find the speed of CT3 too demanding. StatsPack enables you to cover the fundamental ideas of statistics at a slower speed. Unlike other statistical textbooks it is geared specifically towards actuarial students. Please visit www.ActEd.co.uk for more details.

The Stats Refresher Online Tutorial is designed to help students studying Subjects

CT4 or CT6 who have exemptions from Subject CT3, but may have studied the relevant material several years ago.

The tutorial is online, which means that the material can be worked through at a convenient time and pace. The tutorial consists of a discussion of the theory required followed by worked examples. Please visit www.ActEd.co.uk for more details.

Foundation ActEd Course

CA2 Course Notes and Marked Assignment Project

Stats Refresher Online Tutorial

Practice Module materials


Marking You can have your attempts at any of the currently available assignments or mock exams marked by ActEd. When marking your scripts, we aim to provide specific advice to improve your chances of success in the exam. We also aim to return your script as swiftly as possible. We only accept the current version of assignments for marking, ie those published for the sessions leading to the 2014 exams. If you wish to submit your script for marking but only have an old version, then you can order the current assignments free of charge provided you meet the conditions set out on our website at www.ActEd.co.uk.

You can buy Series X Marking and/or Mock Exam A Marking for a specified subject (eg Subject ST2) for the current exam sitting. You will not be able to defer this marking to a future exam sitting. By submitting your scripts in line with our published recommended submission dates, you will make steady progress through the course. We also publish a set of final deadline dates – if you miss the final deadline date for an X Assignment or Mock Exam A, your script will not be marked. Recommended submission dates and final deadline dates are available on the ActEd website at www.ActEd.co.uk.

Marking Vouchers Marking Vouchers are the flexible alternative to Series Marking. They are transferable between study sessions, between subjects and even between students. The holder has the right to submit an attempt at any current assignment or mock exam paper for marking at any time, irrespective of the deadlines. However, you will need to adhere to the explicit Marking Voucher deadline dates in each session to ensure that your script is returned before the date of the exam.

Marking Vouchers are valid for four years from the date of purchase and can be used or refunded at any time up to the expiry date (which is shown clearly on each voucher). See page 13 for full details of our refund and cancellation policy. Please ensure that you purchase the correct number of vouchers for the subjects that you are studying.

If you would like us to mark Mock Exam B or Mock Exam C then you will need to purchase a Marking Voucher (or two vouchers for both papers in each Subject CA1 mock exam).

Solutions to Series X Assignments and Mock Exam A We typically send out full solutions with the Series X Assignments and Mock Exam A. However, if you order Series X Marking (or Mock Exam A Marking) at the same time as you order the Series X Assignments (or Mock Exam A), you can choose whether or not to receive a copy of the solutions in advance. If you choose not to receive them with the study material, you will be able to download the solutions via a secure link on the internet when your marked script is returned (or following the final deadline date if you do not submit a script).

Submitting assignments We strongly recommend that you scan your assignments and mock exams and email them to [email protected]. Alternatively, you can submit them by fax or post. However you choose to submit your assignments, please read the instructions on the assignment coversheet before completing your assignment. Unless you are using a Marking Voucher, any scripts received by ActEd after the deadline date will be returned unmarked. It is your responsibility to ensure that your script is sent in good time to reach us. If you are posting your script, we strongly recommend that you photocopy your script before you send it. Your script will be passed to the next available marker and will be returned to you either by first class post or via a secure link on the internet. We encourage markers to return scripts quickly, but you should be aware that scripts submitted around the time of the final deadlines may have a significantly slower turnaround time than usual. There are special arrangements for the submission of assignments for students living outside the UK and Ireland. Please refer to our website for more details.

Series Marking and Mock Exam Marking


Tutorials ActEd’s interactive tutorials are challenging and rewarding. Our tutors will help you to develop your higher-level understanding and exam technique in an enjoyable environment. The maximum group size is usually 12 for face-to-face tutorials and 24 for live online tutorials. Please refer to the latest Tuition Bulletin on our website for the full details of the courses on offer. Regular Tutorials Regular Tutorials are ideal if you want tuition throughout the session to make sure that

you fully understand the material as you progress through the course. We’ll expect you to have read the relevant parts of the Course Notes before the tutorial and to work hard on the day. Regular tutorials typically involve two or three days of tuition (five days in CA1), spread throughout the study session. Late-starting Regular Tutorials begin slightly later in the study session.

Block Tutorials These are courses held closer to the exams, offered as an alternative to Regular

Tutorials, typically lasting two or three consecutive days (or a total of five days in Subject CA1).

Live Online Tutorials Live Online Regular or Block Tutorials are ideal if you like the discipline and motivation

of a structured and timetabled course but are unable to travel to one of our face-to-face courses. We aim to replicate as closely as possible what you would experience on a face-to-face tutorial – but deliver it online.

Online Classroom This is another online alternative to attending a Regular or Block Tutorial, so may

particularly appeal if there isn’t a tutorial with suitable dates or location for you. Students will have access for one exam session to pre-recorded tutorial units covering the same topics and questions as used on a typical face-to-face tutorial. Students can discuss problem areas amongst themselves and/or with a tutor using a discussion forum.

Online classroom is currently available in all CT Subjects and Subjects CA1 and CA3 and we hope to launch it in a few ST Subjects during the year. Students attending a Regular or Block Tutorial in the same session may purchase the Online Classroom at a significantly reduced cost. Registration will automatically expire after the April 2014 (or September/October 2014) exam. Please visit www.ActEd.co.uk for more details.

Revision Tutorials Revision Days and Online Revision Tutorials are designed to give additional practice

at interpreting and answering past exam questions. They are most suitable if you have previously attended Regular or Block Tutorials in the relevant subject.

Exam-skills webinar This course is designed to help you maximise your chance of passing your exam. It’s

aimed at students sitting CA1 or an ST Subject for the first time. The webinar (or online tutorial) is interactive and includes questions and short exercises. You are able to ask and respond to questions via a written chat facility.

Subject CA2 Tutorials Our Subject CA2 Preparation Day, delivered face-to-face and online, builds upon the

CA2 Course Notes. It will help develop the required documentation skills and technical Excel knowledge needed to pass the CA2 exam. As part of the tutorial you will also attempt an exam-style question to be completed in 3.5 hours. This assignment will then be marked and written feedback will be sent to you shortly after the day.

Subject CA3 Tutorials A choice of face-to-face tuition is offered consisting of a one-day preparation tutorial

and a realistic mock exam experience day. For more details please visit our website at www.ActEd.co.uk.

Personal Tuition Tuition on a one-to-one basis or for a small group of people is available on request.

It can be suitable for students who have particular needs that may not be met by our public courses. Please contact us for more details.


Advice for students

Advice for new students Please read the IFoA Student Handbook carefully to understand how the exam system works. It is important that you start studying as soon as possible – we would expect this to be on or before 1 November 2013, so you should order your materials and apply for tutorials as soon as possible.

If you are sitting a subject for the first time, we recommend that you order a Combined Materials Pack, Series X Marking, and Mock Exam A with Marking (unless your employer will automatically purchase a Mock Exam for you). Our Revision Notes, ASET, MyTest, Sound Revision and Flashcards are also very popular. For advice about which products to chose, please read our product guide, which can be found on our website. Our tutorials are also very helpful. You can choose between a Regular or Block Tutorial or for some subjects, a Live Online Tutorial or the Online Classroom. A Revision Day or an Online Revision Tutorial is a very useful addition. Please note that there is a significant degree of overlap between Regular and Block Tutorials and we do not expect students to attend both of these in a given subject in the same session. There is no overlap between Revision Tutorials and other tutorials. If you have not studied maths for a long period, you may find it useful to study the Foundation ActEd Course (FAC) described on page 5. To help you judge whether or not you would find FAC helpful, visit our website at www.ActEd.co.uk, where you will find an initial assessment. This contains typical mathematical problems that will be encountered in the early actuarial exams. Some sample pages can also be found on the website. We have also produced an Online Classroom to supplement FAC and complimentary access will be given to all new students this year when they purchase their first CMP or a printed copy of FAC. If you are sitting Subject CT3 and have never studied statistics before, you may find it useful to study StatsPack alongside the Subject CT3 notes. StatsPack is described on page 5.

Advice for students retaking a subject If you have the 2013 Combined Materials Pack and intend to retake a subject in April or September 2014, you should make sure that your study material is up-to-date. Use the CMP Upgrade to find out how the Syllabus and Core Reading have changed from 2013 to 2014. CMP Upgrades can be downloaded free of charge from our website at www.ActEd.co.uk. Alternatively, you can purchase a CMP Upgrade at www.ActEd.co.uk/estore or by using the order form, which can be downloaded from our website. In many cases you will be able to use the CMP Upgrade to update your 2013 Combined Materials Pack manually. However, in subjects where there have been many changes, you may prefer to, or may have to, purchase a new set of Course Notes or a new Combined Materials Pack at a special retaker price. These prices can be found on page 12. Whatever subject you’re retaking, we recommend that you buy Mock Exam A or the Additional Mock Pack, the Revision Notes and/or the Flashcards (if available and you haven’t purchased them before). See pages 3 and 4 for more details about our revision products. If you have not used marking before, then we recommend that you consider using Series X Marking. You might also wish to get one or more Mock Exams marked this time. Results of a recent survey suggest that attempting the assignments and mock exam and having them marked improves your chances of passing the exam. If you haven’t already attended tutorials, you’ll find a Regular Tutorial, a Block Tutorial, or the Online Classroom very useful. Alternatively, if you have previously attended tutorials in a subject you might prefer a Revision Tutorial. See page 7 for more details about our tutorials.


Advice for students

Advice for students waiting for exam results We do not advise you to adopt a study strategy that might require you to cease studying partway through a session. We recommend that you choose to study subjects at the beginning of the session with the expectation that you will sit those exams. If you cannot judge how well you did in the last set of exams, don’t start to study too many subjects in the next session – it is much better to take on an extra subject if you are ahead of schedule than it is to drop subjects midway through the session and switch back to a previous subject. If you might need to change your plans in the light of your exam results, then we’d recommend that you apply for a Block Tutorial or a late-starting Regular Tutorial rather than Regular Tutorials and that you choose Marking Vouchers rather than Series Marking. This will give you much more flexibility should your plans change.

Advice for students studying Subjects CT7, ST6 or ST9 These subjects have moved away from the traditional “Core Reading” approach. Instead, the majority of the Core Reading is replaced by references to the textbooks listed in the table below. As a result ActEd’s Course Notes in these subjects are not intended to be used as stand-alone courses. Instead, the notes aim to summarise the key principles and results and to explain in more detail the most difficult topics in the Syllabus. A Question & Answer Bank and a set of Series X Assignments have been produced as normal. ActEd’s full-price Combined Materials Pack in each subject will include the relevant textbooks, as well as the Course Notes, Q&A Bank and X Assignments, in the bundled price. However, all of these items may also be purchased individually. ActEd’s prices for purchasing the textbooks separately can be found in the table below and the prices of ActEd’s other materials can be found on page 10.

CT7 Economics for Business by J. Sloman, K. Hinde and D Garratt, A Hunt (6th Ed), ISBN 978-0-273-79246-8

£48

ST6 Options, Futures and other Derivatives by J. C. Hull, (8th Ed), ISBN 978-0-273-75907-2

Financial calculus: an introduction to derivative pricing by M. Baxter and A. Rennie, ISBN 978-0-521-55289-9

£68

£45

ST9 Enterprise Risk Management From Incentives to Controls by J. Lam, ISBN 978-0-471-43000-1

Financial enterprise risk management, by Paul Sweeting, ISBN 978-0-521-11164-5

£52

£60

Advice for students studying CA1 over two sessions As the materials are updated yearly, students who plan to sit the exam in September 2014 but intend to start studying before April 2014 will not need to update their 2014 materials. If you wish to use Series X Marking in Subject CA1 over two sessions then please let us know this when you order. The Subject CA1 Online Classroom cannot be used over two sessions without an additional purchase. We recommend that students either defer their purchase or take advantage of the retaker rate for the second session.


Prices

Core study materials

Prices are quoted per individual subject.

CT1–6 CT8

CT7 CA1

CA3 ST1, ST2, ST4, ST5, ST7, ST8

ST6 ST9 SA1–6

Combined Materials Pack (CMP) a includes Course Notes, Question and Answer Bank (not in CA3), Series X Assignments

£116 £146d £409 £69 £210 £270d £284d £237

Course Notes (included in CMP) a £66 £48d £230 £44 £118 £78

d £133

Question and Answer Bank (included in CMP) £44 £153 - £79 £89

Series X Assignments (included in CMP) £36 £128 £25 £66 £74

Core Reading (incorporated in Course Notes) b £16b - £38b - £21b - - £31b

CMP Upgradec (where available) £11c - £11c

Notes

These prices are for full-price material only. Please see page 12 for reduced-rate material details. You may need to add despatch charges to the above prices. Please see page 12 for details.

a. Prices of printed CMPs/Course Notes and eBooks are the same except that VAT is added for orders of eBooks from within the EU. If the eBook is ordered in addition to the paper product, the additional charge is £20 + VAT for each subject.

b. Core Reading is only available from ActEd to student members of the IFoA who have purchased a CMP from ActEd in the same subject (ie since 1 September 2004).

c. CMP Upgrades can be downloaded free of charge from our website. In some subjects a complete upgrade cannot be produced due to the large number of changes made. Please visit www.ActEd.co.uk for details of the subjects affected.

d. The CT7, ST6 and ST9 CMPs include the required textbooks. Please see page 9 for more details. The books are not included in the Course Notes.

Revision materials

Prices are quoted per individual subject and exclude VAT, which will be added where indicated.

CT1–8 CA1

CA3 ST1, ST2, ST4–9

SA1–6

ASET (available in CT1-CT8, CA1, ST1-2, ST4-9, SA2-4) £34 £60 - £36 £32

Mini-ASET (available in CT1-CT8, CA1, ST1-2, ST4-9, SA2-4) £11 £21 - £11

Flashcards (VAT will be added to orders from within the EU, available in CT1-8, CA1, ST1-2, ST4-5, ST7-9) £29 £40 - £32 -

Mock Exam A (& Mock Exam B in Subject CA3) £15 £31 £17 £17

Additional Mock Pack £28 £56 - £28

Revision Notes (available in CT1-CT8, CA1, ST1-2, ST4-5, ST7-8) £59 £103 - £70 -

Sound Revision (VAT will be added to orders from within the EU, available in CT2, CT7-8, CA1, ST2, ST4-5) £26 £35 - £28 -

MyTest first registration (VAT will be added to orders from within the EU, available in CT1-2, CT7, CA1, ST2, ST4-5 and SA2)

£44 £58 - £58

MyTest re-registration (VAT will be added to orders from within the EU,available in CT1-2, CT7, CA1, ST2, ST4-5 and SA2)

£22 £29 - £29

Note: The prices of Flashcards shown apply to both the printed and eBook product. If the eBook is ordered as an addition to the printed product, the additional charge is £11 (+ VAT for orders from within the EU) for each subject.

Practice Modules P1–P6 (each incl P0) P0 only

Core Reading – £38

Multi-choice Booklets £53 £29


Prices Specialist materials

Prices shown exclude VAT, which will be added where indicated.

CA2 Course Notes £45 StatsPack (+VAT in EU) Course Notes only

Online Classroom only (+VAT in EU)

£60 £40

£40 CA2 Marked Assignment Project I or 2 (+VAT in EU) £79

Foundation ActEd Course (FAC) £55 Stats Refresher Online Tutorial (+VAT in EU) £25

Marking

Prices shown exclude VAT which will be added.

CT1–8 CA1

CA3 ST1, ST2 ST4-9

SA1–6

Series X Marking £202 £490 £211 £301 £332

Mock Exam A Marking £58 £116 £58

Marking Vouchers £65 per voucher

Face-to-face and Live Online tuition

Prices shown per student and exclude VAT which will be added.

CT Subjects CA1, CA3 Preparation Day, ST and SA Subjects

CA2 Preparation Day and CA3 Mock Exam Day

(includes marking)

Face-to-face £127 per day (£64 per half-day)

£140 per day (£70 per half-day)

£209 per day

Live Online £110 per day (£55 per half-day)

£120 per day (£60 per half-day)

£189 per day

Personal Tuition (Tuition on a one-to-one basis or for a small group of people may be available on request. It can be suitable for students who have particular needs that may not

be met by our public courses.)

£100 per student per hour contact time plus £80 per hour non-contact time (where relevant, eg for tutor preparation, marking etc), plus tutor travel

expenses (depending on location). Please email [email protected] for more details.

Online Classroom

Prices are per exam session and exclude VAT which will be added to orders from within the EU.

Standard price

Accompanying a confirmed

3, 4 or 5-day tutorial in the same session

Accompanying a confirmed

2-day tutorial in the same session

Retaker Rate

CT2 £196 £25 £25 £80

All other CT Subjects £245 £25 £80 £80

CA1 £358 £40 - £120

CA3 £120 - - £40

The Retaker Rate only applies to students who have previously attended a 2, 3, 4 or 5-day tutorial with ActEd in the relevant subject, or who have previously purchased the Online Classroom in the same subject. In Subject CA3 only, the retaker rate applies to students who have previously attended a 1-day tutorial.

All prices correct as at 1 October 2013 but may be subject to change.


Discounted materials and despatch charges Retaker discounts CMP Upgrades (described on page 2) are available from our website at www.ActEd.co.uk. However, students retaking a subject can also benefit from reduced-price Combined Materials Packs or Course Notes (printed or eBook). The discounts apply only if you have previously purchased the equivalent full-price material in the same subject (ie since September 2004) directly from ActEd. Discounts do not apply if your original course was supplied through a university or directly by the Profession (in the UK or India).

When ordering retaker-price materials, please use the designated place on the order form or tick the relevant box when using the e-store.

Subject Retaker price for

printed CMP Retaker price for printed

Course Notes Retaker price for CMP or Course Notes eBook

CT1-CT6, CT7 (without textbook), CT8 £45 £35 £20 (+VAT in EU)

CA3 £30 £22 £20 (+VAT in EU)

CA1, ST1, ST2, ST4, ST5, ST6 (without textbooks), ST7, ST8, ST9 (without textbooks), SA1-SA6

£60 £45 £20 (+VAT in EU)

Reduced-rate materials Students living in countries that qualify for special overseas rate exam fees may also be eligible to purchase Combined Materials Packs (excluding any relevant textbooks) at a discount. Please note that different despatch charges to those shown below apply for these orders. Please refer to our website for more details: www.ActEd.co.uk/Html/ordering_reduced_rate_material.htm. Despatch charges Charges are set out in the table below and must be added to the cost of the materials in order to calculate the total amount to be paid. The despatch charge is on a per-copy basis, but we will reduce the charge by £9 (for orders despatched to Ireland), £10 (Europe & South Africa), or £13 (rest of the world) for each additional item of study materials ordered after the first (with a minimum total charge of zero). For example, if you live in Ireland and you order the CT6 CMP and CA2 Course Notes, the despatch charge will be £15 + £7 – £9 = £13. Items are usually sent by courier except for smaller items sent to the UK and Ireland, which are sent via post or airmail. Students based in non-EU countries may incur import tax on delivery of materials. Any charges levied by the customs authorities are the responsibility of the recipient rather than ActEd.

Despatch charges for printed material (excluding VAT, which will be added for items marked *)

UK

Ireland and

Channel Islands

Europe South Africa

Rest of the

world

CT1-6, CT8, CA3, ST1, ST2, ST4, ST5, ST7, ST8 and SA CMPs, CA1, ST and SA Course Notes

- £15 £19 £6 £31

CT7, CA1, ST6 & ST9 CMPs - £15 £24 £6 £36

CT and CA3 Course Notes; FAC; Revision Notes; ASET; StatsPack

- £10 £19 £6 £26

CA2 Course Notes; CMP Upgrade; Core Reading; Flashcards*; Q&A Bank; Practice Module Booklets; textbooks

(each) - £7 £13 £10 £21

Mini-ASET; Mock A; Additional Mock Pack; Assignments; CA2 MAP*; Sound Revision*

- £6 £10 £10 £17

Please refer to page 13 for full details of our refund and cancellation policy.

All prices as at 1 October 2013 but may be subject to change.


Refunds and cancellations

Printed Study material Refunds are only available if the pack is returned with the original shrink-wrap intact within 28 days of purchase. In these circumstances, we will issue a credit note to the value of the material returned less an administration fee (10% of the price of the returned goods, maximum £15 per item). Marking Series X Marking and Mock Exam A Marking are valid only for the session in which they are purchased. They cannot be deferred to a later study session. Please purchase marking vouchers if you require this flexibility. The only exceptions to this are Series X Marking and Mock Exam A Marking in Subject CA3, which are valid for one year from the date of purchase.

Refunds on Series X Marking are only given if they are requested before any assignment has been submitted for marking and the final deadline date for the session has not passed. Neither full nor partial refunds are given once an assignment has been submitted for marking. Refunds on unused Mock Exam A Marking are not given once the final deadline date has passed.

Marking Vouchers can be cancelled if they are returned to ActEd before the expiry date and a credit note will be issued to the person/company who made the original payment. Tuition Once you have applied for a course, you may change your choice of course or cancel without charge, so long as we are notified in writing (email is fine) by the relevant finalisation date. You must let us know that you wish to cancel whether you have been given a provisional place or been placed on a waiting list. If you cancel after the finalisation date you will be invoiced for a cancellation fee of:

50% of the course fee if you cancel more than seven days before the start of the course 100% of the course fee if you cancel within seven days of the start of the course.

If, at finalisation, you are not allocated a place on one of the courses you requested, or you applied before the finalisation date and the dates of your course have changed from those shown on the provisional timetable, you may cancel without charge up to seven days before the start of the course. If you cancel within seven days of the start of the course you will be invoiced for a fee of 100% of the cancelled course fee.

If you cannot attend one or more days of your tutorial then you are still liable for the full cost of the course. However, you may be able to swap to another course of the same type in the same subject - please contact ActEd for more details. If you might change your study plans in light of your exam results, we recommend that you book a place on a late-starting Regular Tutorial (if available) or a Block Tutorial, rather than a standard Regular Tutorial.

Refunds cannot be given in the event of malfunction or incompatibility of your software or hardware, which is outside of ActEd's control. Sufficient opportunity is given before a Live Online Regular/Revision Tutorial for you to test your hardware and software. We will also email you instructions on how to do this before the course.

Refunds for the Online Classroom (excluding Live Online Regular/Revision Tutorials) are only available if requested within 14 days of purchase and the resources are not accessed. If you receive reduced-rate access (ie accompanying a confirmed 2, 3, 4 or 5-day tutorial in the same session) to the Online Classroom and subsequently cancel your tutorial place, then you will be invoiced for the standard price of the Online Classroom (if used). Other online resources Refunds are only available if requested within 14 days of purchase and the resources have not been accessed.

Refunds on eBooks cannot be given in the event of malfunction or incompatibility of your software or hardware, which is outside of ActEd's control. Therefore we recommend that you check the compatibility of your software or hardware before placing an order. See the Technical Information and Frequently Asked Questions document for more information on how to do this. Additionally, refunds cannot be given in the event of printer problems (including lack of paper and toner) which result in the print limit being reached.

We do not advise you to adopt a study strategy that might require you to cease studying partway through a session. If you might need to change your plans in the light of your exam results or gaining exemptions, then we’d recommend that you apply for a late-starting Regular Tutorial or a Block Tutorial, rather than a standard Regular Tutorial, and that you choose Marking Vouchers rather than Series Marking. You should also defer purchase of any Online Classroom until after results. This will give you much more flexibility should your plans change.


Students living outside the UK and Ireland Most of the information in this brochure applies to students living outside the UK and Ireland. The main differences are described below. Your ActEd contact All students (except those living in Australia and New Zealand) should direct queries to ActEd’s UK office and place orders either by fax, post or through the e-store (at www.ActEd.co.uk/estore). Students living in Australia and New Zealand should order all material and services through ActEd Australasia:

Acted Australasia

Suite 5, level 2 67 Castlereagh Street Sydney NSW 2000 Tel +612 8015 7722 Fax: +612 8015 7723

Email: [email protected] Website: www.ActEd.com.au

Students living in countries that qualify for special overseas rate exam fees may be eligible to purchase Combined Materials Packs and the Online Classroom at a discount. Please refer to www.ActEd.co.uk/Html/ordering_reduced_rate_material.htm for more details. Study material Materials may become available about one week later than the dates shown on page 16. Students in countries outside of the EU may also incur import tax or a customs charge on delivery of materials. These charges are levied by the customs authorities and are the responsibility of the recipient rather than ActEd. Marking Special arrangements are available to overseas students to help reduce postal delays when returning marked scripts. Please visit www.ActEd.co.uk for more information. Tutorials and webinars Students may wish to attend one of our Block Tutorials held in the UK or use a Live Online Tutorial or the Online Classroom where available. The latest Tuition Bulletin is available from our website or will be sent to you on request.


ActEd and the Institute and Faculty of Actuaries

The role of ActEd, IFE and OTM The Actuarial Education Company (ActEd) is a subsidiary of BPP Actuarial Education Ltd. ActEd is contracted to provide actuarial tuition for students on behalf of Institute and Faculty Education Ltd (IFE), a subsidiary of the Institute and Faculty of Actuaries (IFoA). The IFoA, through IFE, set ActEd’s prices each year. The Office of Tuition Monitoring (OTM) has responsibility for monitoring the quality of all aspects of ActEd’s services to ensure that they meet strict standards. You may meet members of OTM at ActEd’s tutorials from time to time. All aspects of the examination process (Syllabus, Core Reading, exam dates, exam entry, exam setting, exam marking, communication of exam results, and production of Examiners’ Reports) are the direct responsibility of the IFoA. Full details of the examinations are given on the IFoA website. Core Reading is produced by the Institute and Faculty of Actuaries. The purpose of Core Reading is to ensure that tutors, students and examiners have a clear, shared appreciation of the requirements of the Syllabus for the examinations. The Core Reading gives a complete coverage of the Syllabus so that the appropriate depth and breadth is apparent. In examinations students are expected to demonstrate their understanding of the concepts in the Core Reading; these are based on the legislation, professional guidance etc that are in force when the Core Reading is published, ie on 31 May in the year preceding the examinations. Examiners have the Core Reading manual when setting the papers. If you have any comments about ActEd’s services please contact Darrell Chainey (Managing Director) at ActEd in the first instance. We will endeavour to act on any suggestions or complaints and we will copy correspondence to OTM where appropriate. If you are unhappy with our response, you may take your complaint directly to OTM at Napier House.

The Institute and Faculty of Actuaries The Institute and Faculty of Actuaries is responsible for professional matters including all aspects of the examination system. All enquiries about the examination system should be directed to them: Institute and Faculty of Actuaries Tel: +44 (0) 207 632 2100 Fax: +44 (0) 1865 268211 Email: [email protected]

Website: www.actuaries.org.uk

For enquiries about Admissions please contact:

Post: Institute and Faculty of Actuaries, Maclaurin House, 18 Dublin Street, Edinburgh, EH1 3PP Tel: +44 (0) 131 240 1325 Email: [email protected]


How to order

You can order your study materials and apply for tutorials at www.ActEd.co.uk/estore. Alternatively you can complete the relevant order form, which can be found on our website at www.ActEd.co.uk. and send it to us by post or fax. We do not accept orders by telephone, but we will be happy to give you advice if you call us. Study materials are sent directly from our printers by courier (for large items) or first class post (for small items sent within Europe). In most cases study material arrives within 4–5 working days of ordering, assuming the relevant availability date stated below has passed. However, delivery may take slightly longer during the 2–3 weeks after each set of exams and exam results. Items sent overseas may take considerably longer, so we recommend that you order as early as possible. Although some study materials are not available until midway through a session, you are encouraged to place your order in full at the start of the session. We’ll despatch immediately all the items available at the time of your order and automatically send any outstanding items as they become available. Full details of our provisional tutorial timetable and more details of the application process for tutorials are set out in our Tuition Bulletin, available on our website at www.ActEd.co.uk. To maximise your chance of getting a place on your chosen tutorial, you should apply as soon as possible and certainly well before the relevant finalisation date shown in the Tuition Bulletin.

Expected availability dates for study material Foundation ActEd Course Available now StatsPack & Stats Refresher Available now CA2 products Available now Combined Materials Pack (CT and CA subjects) 20 September 2013 Combined Materials Pack (ST and SA subjects) 4 October 2013 Please note that e-books may not be available until around 3 weeks after these dates, but we will release them as soon as we can. CMP Upgrade 2013/14 (available free of charge from www.ActEd.co.uk) 18 October 2013 Mock Exam A 24 January 2014 Additional Mock Pack 13 December 2013 Flashcards 17 January 2014 Sound Revision 13 December 2013 MyTest 29 November 2013 ActEd Solutions with Exam Technique (ASET) 7 February 2014 Mini-ASET 15 August 2014 Revision Notes – April 2014 exams 6 December 2013 Revision Notes – September 2014 exams 18 April 2014 Online Classroom – April 2014 exams late October 2013 Online Classroom – September 2014 exams late May 2014

Core Technical Subjects

Core Application Subjects

Specialist Technical Subjects

Specialist Application Subjects

CT1 Financial Mathematics CT2 Finance and Financial Reporting CT3 Probability and Mathematical Statistics CT4 Models CT5 Contingencies CT6 Statistical Methods CT7 Business Economics CT8 Financial Economics CT9 Business Awareness Module (BAM)

CA1 Actuarial Risk Management CA2 Model Documentation, Analysis and Reporting CA3 Communications

ST1 Health and Care ST2 Life Insurance ST4 Pensions and Other Benefits ST5 Finance and Investment A ST6 Finance and Investment B ST7 General Insurance - Reserving and Capital Modelling ST8 General Insurance - Pricing ST9 Enterprise Risk Management

SA1 Health and Care (UK) SA2 Life Insurance (UK) SA3 General Insurance (UK) SA4 Pensions and Other Benefits (UK) SA5 Finance (UK) SA6 Investment (UK)

There is one paper in each of Subjects CT1–CT8. Subject CT9 consists of internet-based study, attendance at a two-day course and internet-based

assessment. Please refer to the IFoA website for more details.

All CT and CA subjects are compulsory although you may be

exempt from one or more subjects depending on your previous studies.

There are two papers in Subject CA1. Assessment in Subjects CA2 and CA3 takes place via a face-to-face or online

Practical Exam. Please refer to the IFoA website for more details.

There is one paper in each of Subjects ST1-ST9 and SA1-SA6.

Students are required to take two subjects only from ST1–ST9.

Students are required to take one subject only from SA1–SA6.

The IFoA recommends that every UK-based student taking a Specialist

Applications paper takes the relevant UK Practice Module at the same time. Please refer to the IFoA website for

more details.

All aspects of the examination process are the direct responsibility of the Institute and Faculty of Actuaries. You are advised to read the Student Handbook issued by the IFoA for further information on the examinations or visit its website at www.actuaries.org.uk.

Your journey through the Fellowship examinations

The Actuarial Education Companyon behalf of the Institute and Faculty of Actuaries

Tel: +44 (0) 1235 550005Fax: +44 (0) 1235 550085

[email protected]

Student Brochure for the 2014 exams

acted student brochure 2014

Documents

students students

students new students

acted study programmes

results students

revision materials

discounted materials

specialist materials

subjects ca1