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Your journey through the Fellowship examinations
Core Technical Subjects
CT1
CT2
CT3
CT4
CT5
CT6
CT7
CT8
CT9
Financial Mathematics
Finance and Financial Reporting
Probability and Mathematical Statistics
Models
Contingencies
Statistical Methods
Business Economics
Financial Economics
Business Awareness Module (BAM)
ACTUARIAL
EDUCATION
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.
Core Application Subjects
CA1
CA2
CA3
Actuarial Risk Management
Model Documentation, Analysis and Reporting
Communications
There are two papers in Subject CA1.
Assessment in Subjects CA2 and CA3
takes place via an online Practical Exam.
Please refer to the IFoA website for
more details.
Specialist Technical Subjects
ST1
ST2
ST4
ST5
ST6
ST7
ST8
ST9
Health and Care
Life Insurance
Pensions and Other Benefits
Finance and Investment A
Finance and Investment B
General Insurance - Reserving and Capital Modelling
General Insurance - Pricing
Enterprise Risk Management
Students are required to take two
subjects only from ST1–ST9.
There is one paper in each of Subjects
ST1-ST9 and SA1-SA6.
Specialist Application Subjects
SA1
SA2
SA3
SA4
SA5
SA6
Health and Care (UK)
Life Insurance (UK)
General Insurance (UK)
Pensions and Other Benefits (UK)
Finance (UK)
Investment (UK)
Students are required to take one
subject only from SA1–SA6.
The IFoA recommends that every UKbased 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.
The Actuarial Education Company
on behalf of the Institute and Faculty of Actuaries
Student Brochure for the 2016 exams
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.
Revised 24 February 2016
Contents
Page
Core study materials
1
Revision materials
2-3
Specialist materials
4
Marking
5
Tutorials
6
ActEd and the Institute and Faculty of Actuaries
7
Refunds
7
Advice for students
8
New students
Retakers
Advice for students
9
Students waiting for results
Students studying Subjects CT7, ST6 & ST9
Students studying Subject CA1 over two sessions
Prices
10-11
Discounted materials and despatch charges
12
How and when to order
13
ActEd student number:
Welcome to ActEd’s brochure for the 2016 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.
Record your ActEd student number above 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.
Good luck with your studies for the 2016 exams.
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
ActEd@bpp.com
+44 (0) 1235 550005
Fax: +44 (0) 1235 550085
Accounts queries
ActEdAccounts@bpp.com
+44 (0) 1235 550015
Core study
study materials
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 4.
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 5)
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 2015/16
For many subjects, the CMP Upgrade enables you to amend your 2015 CMP to make
it suitable for study for the 2016 exams. Where possible, it includes all significant
changes to the Core Reading between 2015 and 2016. 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 7 for more information about Core Reading.
A ct Ed s t u d y p r o g r a m m e s 2 0 1 5 / 1 6
Pag e 1
Revision materials
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 Minini-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,
CA3, ST1-2, ST4-9 and SA2-4.
Mini-ASET is available later in the year and covers the April 2016 exam paper. It will
be available in subjects in which ASET is available except Subject CA3.
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, ST9, SA2, SA3 and SA5.
Sound Revision
Sound Revision is a set of audio files, designed to help you remember the most
important aspects of the Core Reading. They cover the majority of the course, split
into a number of manageable topics based on the chapters in the Course Notes. The
recordings are perfect for the train, tube, or car journey to work, or where taking
folders and course notes is not practical.
Sound Revision is available in Subjects CT2, CT7, CT8, CA1, ST2, ST4 and ST5.
Pag e 2
A c t E d s t u d y p r o g r a m m e s 20 1 5 / 1 6
Revision materials
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 5 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, or 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 an 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, CT4, CT7, CA1, ST2, ST4, ST5, ST7, ST8 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.
Access to MyTest will automatically expire at the end of the exam session current at
the time of purchase. If you wish to use MyTest for the subsequent exam session then
you will need to re-purchase at a reduced rate.
A ct Ed s t u d y p r o g r a m m e s 2 0 1 5 / 1 6
Page 3
Specialist materials
materials
Our specialist materials are designed to meet the needs of specific groups of students in specific subjects.
CA2 Course Notes and
Marked Assignment
Project
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 ones you will face in 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 scripts and return via email, providing
useful feedback to help to ensure that you are successful when you take the Exam.
Practice Module
materials
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).
Foundation ActEd
Course
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 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.
The FAC Online Classroom gives you 12 months’ access (from the date your order is
processed) to pre-recorded tutorials (covering the same material as the Course Notes)
with worked examples. We recommend that you purchase the complete FAC, which
contains both the Course Notes and Online Classroom, but you may also purchase one of
the items separately.
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 gives you 12 months’ access (from the date your order is processed) to prerecorded tutorials (covering the same material as the Course Notes) with worked
examples. We recommend that you purchase the complete StatsPack, 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.
Stats Refresher
Online Classroom
Classroom
The Stats Refresher Online Classroom 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. You will be
able to access the Stats Refresher Online Classroom for 12 months from the date your
order is processed.
Pag e 4
A c t E d s t u d y p r o g r a m m e s 20 1 5 / 1 6
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 2016 exams. If you
wish to submit your script for marking but only have an old version, then you can request the current assignments free of charge
provided you meet the conditions set out on our website at www.ActEd.co.uk.
Series Marking
and
Mock Exam Marking
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
E xam 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).
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
submitted (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 ActEdMarking@bpp.com.
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.
Your script will be passed to the next available marker and will be returned to you 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.
A ct Ed s t u d y p r o g r a m m e s 2 0 1 5 / 1 6
Page 5
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. Although we cannot guarantee any maximum group size, we usually aim for at most
12 on face-to-face tutorials and 18 on most live online tutorials (except exam-skill sessions which are unlimited). 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-toface 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
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, CA2, CA3,
ST2 and ST5. Students attending a Regular or Block Tutorial in the same session may
purchase the Online Classroom at a significantly reduced cost. In Subjects CT1-CT8,
CA1, ST2 and ST5, registration will automatically expire after the April 2016 (or
September/October 2016) exam. In Subjects CA2 and CA3, registration lasts for
6 months. 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.
E xamxam - skills session
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 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
The Preparation Day builds upon the CA2 Course Notes. It will help develop the
required documentation skills and technical Excel knowledge needed to pass Subject
CA2, using an exam-style question as a case study.
We offer the choice of an online or face-to-face course. Computers will be provided on
the face-to-face course for you to practise the key skills required.
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.
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ActEd and the Institute
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 supports coverage of the syllabus in helping to ensure that both depth and breadth are re-enforced. 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.
If you have any comments about ActEd’s services please email us at ActEd@bpp.com 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 wish to follow BPP’s formal complaints procedure (which can be found at
www.acted.co.uk/Html/terms_conditions.htm) or take your complaint directly to OTM.
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 student admissions, the examination system, exemptions, exam counselling, professional
skills courses and work-based skills should be directed to them:
Tel:
Fax:
Email:
Institute and Faculty of Actuaries
+44 (0) 1865 268207
+44 (0) 1865 268233
education.services@actuaries.org.uk
Website:
www.actuaries.org.uk
Refunds and cancellations
ActEd’s full Terms & Conditions and Privacy Policy, which include ActEd’s policy on cancellation and refunds can be viewed at
www.acted.co.uk/Html/terms_conditions.htm and a copy will be emailed to you once you have placed your order.
You can, subject to certain exceptions, cancel your order and obtain a full refund if you request it within a specified timeframe.
In order to cancel your place, please refer to our Terms and Conditions, which contain full details of our cancellation and refund
policies and our cancellation form.
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
lat e-starting Regular Tutorial or a Block Tutorial,
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
much more flexibility should your plans change.
A ct Ed s t u d y p r o g r a m m e s 2 0 1 5 / 1 6
Page 7
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 2015 for the April 2016 exams, 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,
Pack Series X
Marking,
Marking and Mock Exam A with Marking (unless your employer will automatically purchase a Mock Exam for you).
Our Revision Notes, ASET, MyTest,
MyTest , Sound Revision and Flashcards are also very popular. For advice about which
products to choose, 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.
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 4. 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.
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 4.
Advice for students retaking a subject
If you have the 2015 Combined Materials Pack and intend to retake a subject in April or September 2016, 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 2015 to 2016. 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 2015 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,
Pack the Revision
Notes and/or the Flashcards (if available and you haven’t purchased them before). See pages 2 and 3 for more details
about our revision products.
If you have not used marking before, then we recommend that you consider using Series X Marking.
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,
Tutorial a Block Tutorial,
Tutorial or the Online Classroom very
useful. Alternatively, if you have previously attended tutorials in a subject you might prefer a Revision
Revisio n Tutorial.
Tutorial See
page 6 for more details about our tutorials.
Pag e 8
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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 latelate- 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
£69
Financial calculus: an introduction to derivative pricing by M. Baxter and A. Rennie,
ISBN 978-0-521-55289-9
£46
Enterprise Risk Management From Incentives to Controls by J. Lam (2nd Ed), ISBN 978-1-118-41361-6
£77
Financial enterprise risk management, by Paul Sweeting, ISBN 978-0-521-11164-5
£75
ST9
Advice for students studying CA1 over two sessions
As the materials are updated yearly, students who plan to sit the exam in September 2016 but intend to start studying
before April 2016 will not need to update their 2016 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.
A ct Ed s t u d y p r o g r a m m e s 2 0 1 5 / 1 6
Pag e 9
Prices
Core study materials
Prices are quoted per individual
subject.
CT1–
CT1–6
CT8
CT7
CA1
CA3
ST1, ST2,
ST4, ST5,
ST5,
ST7, ST8
ST6
ST9
SA1–
SA1–6
£127
£159d
£446
£75
£230
£295d
£330d
£259
£72
£52d
£251
£48
£129
Combined Materials Pack (CMP) a
includes Course Notes, Question and Answer
Bank (not in CA3), Series X Assignments
Course Notes (included in CMP) a
£85d
£146
Question and Answer Bank (included in CMP)
£48
£167
-
£86
£97
Series X Assignments (included in CMP)
£40
£139
£27
£72
£81
Core Reading (incorporated in Course Notes)
b
£18b
CMP Upgradec (where available)
£42b
-
-
£12c
£23b
-
£33b
-
£12c
-
Notes
These prices are for fullfull-price material only. Please see page 12 for reducedreduced-rate material details. You may need to add despatch charges to the above
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 and South Africa. If the eBook is
ordered in addition to the paper product, the additional charge is £22 + 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 but a brief overview of the changes made is produced instead.
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–
CT1–8
CA1
CA3
ST1, ST2,
ST4–
ST4–9
SA1–
SA1–6
ASET (available in CT1-CT8, CA1, CA3, ST1-2, ST4-9, SA2-4)
£37
£66
£20
£39
£44
Mini-ASET (available in CT1-CT8, CA1, ST1-2, ST4-9, SA2-4)
£12
£23
-
£31
£44
-
Mock Exam A
£17
£33
£19
£19
Additional Mock Pack
£31
£61
£31
£31
Revision Notes (available in CT1-CT8, CA1, ST1-2, ST4-5, ST7-8)
£64
£112
-
£77
-
£28
£39
-
£31
-
£48
£63
-
£63
£24
£32
-
£32
Flashcards (VAT will be added to orders from within the EU,
available in CT1-8, CA1, ST1-2, ST4-5, ST7-9, SA2, SA3, SA5)
Sound Revision (VAT will be added to orders from within the EU and
South Africa, available in CT2, CT7-8, CA1, ST2, ST4-5)
£12
£35
£35
MyTest first registration (VAT will be added to orders from within the
EU and South Africa, available in CT1-2, CT4, CT7, CA1, ST2, ST4-5, ST7,
ST8 and SA2)
MyTest re-registration (VAT will be added to orders from within the EU
and South Africa, available in CT1-2, CT4, CT7, CA1, ST2, ST4-5, ST7, ST8
and SA2)
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 £12 (+ VAT for orders from
within the EU and South Africa) for each subject.
Practice Modules
Core Reading
Multi-choice Booklets
Pag e 10
P1–
P1–P6 (each incl P0)
P0 only
–
£41
£58
£31
A c t E d s t u d y p r o g r a m m e s 20 1 5 / 1 6
Prices
Specialist materials
Prices shown exclude VAT, which will be added where indicated.
FAC (+VAT in EU)
£66
StatsPack (+VAT in EU)
£66
Course Notes only
£44
Course Notes only
£44
Online Classroom only (+VAT in EU)
£44
Online Classroom only (+VAT in EU)
£44
CA2 Course Notes
£50
Stats Refresher Online Classroom (+VAT in EU)
£26
CA2 Marked Assignment Project (+VAT)
£121
Note: The prices of FAC and Stats Pack Course Notes 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
£12 (+ VAT for orders from within the EU and South Africa) for each subject.
Marking
Prices shown exclude VAT which will be
added.
Series X Marking
Series X5 Marking (the essential five)
Mock Exam A Marking
CT1–
CT1–8
CA1
CA3
ST1, ST2
ST2
ST4ST4-9
SA1–
SA1–6
£211
£511*
£221
£314
£347
-
£262*
-
£61
£121
£61
Marking Vouchers
£68 per voucher
*More details about the marking options for Subject CA1 can be found on our website.
FaceFace-toto-face and Live Online tuition
Prices shown per student and exclude VAT which will be added.
CT Subjects
CA1, CA2,
CA2, CA3
Preparation Day,
ST and SA Subjects
CA3 Mock Exam Day
(includes marking)
Exam Skills
Face-to-face
£134 per day
(£67 per half-day)
£147 per day
(£73.50 per half-day)
£219 per day
-
Live Online
£116 per day
(£58 per half-day)
£126 per day
(£63 per half-day)
£198 per day
£37
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.)
£105 per student per hour contact time plus £84 per hour non-contact time (where
relevant, eg for tutor preparation, marking etc), plus tutor travel expenses (depending
on location). Please email ActEd@bpp.com for more details.
Online Classroom
Prices are per exam session and
exclude VAT which will be added
to orders from within the EU.
EU.
Standard
price
Accompanying a confirmed
3, 4 or 55-day tutorial in the
same session
Accompanying a confirmed
2-day tutorial
in the same session
Retaker
Rate
CT2
£206
£26
£26
£84
All other CT Subjects
£257
£26
£84
£84
CA1
£376
£42
-
£126
CA2
£63
-
-
£21
CA3
£126
-
-
£42
ST2 & ST5
£278
£28
-
£89
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 CA2 and CA3 only, the retaker rate applies to students booked onto a confirmed Preparation Day in that subject or
who have previously attended a Preparation Day in that subject.
All prices correct as at 1 October 2015 but may be subject to change.
A ct Ed s t u d y p r o g r a m m e s 2 0 1 5 / 1 6
Page 11
Discounted
Discounted materials and despatch charges
Retaker discounts
CMP Upgrades (described on page 1) 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
£48
£37
£22 (+VAT in EU and
South Africa)
CA2 & CA3
£32
£24
£22 (+VAT in EU and
South Africa)
CA1, ST1, ST2, ST4, ST5,
ST6 (without textbooks), ST7, ST8,
ST9 (without textbooks), SA1-SA6
£64
£48
£22 (+VAT in EU and
South Africa)
ReducedReduced-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 £8 (for orders
despatched to Ireland, Europe & South Africa), or £15 (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 CA3 Course Notes, the despatch charge will be £12 + £8 – £8 = £12.
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.
UK
Ireland
and
Channel
Islands
CT1-6, CT8, CA3, ST1, ST2, ST4, ST5, ST7, ST8
and SA CMPs, CA1, ST and SA Course Notes
-
CT7, CA1, ST6 & ST9 CMPs
Europe
South
Africa
Rest of
the
world
£12
£20
£7
£32
-
£12
£24
£7
£36
CT and CA3 Course Notes; FAC; Revision Notes; ASET;
Flashcards*; StatsPack
-
£8
£18
£10
£25
CA2 Course Notes; CMP Upgrade; Core Reading; Q&A Bank;
Practice Module Booklets; textbooks (each)
-
£8
£14
£10
£22
Mini-ASET; Mock A; Additional Mock Pack; Assignments;
CA2 MAP*; Sound Revision*
-
£6
£10
£10
£20
Despatch charges for printed material
(excluding VAT, which will be added for items marked *)
Pag e 1 2
A c t E d s t u d y p r o g r a m m e s 20 1 5 / 1 6
All prices as at 1 October 2015 but may be subject to change.
How and when to order
Please order through our e-store (at www.ActEd.co.uk/estore). Alternatively, if you prefer to order by email/fax/post,
please visit our website for the relevant forms. 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.
As we like to keep our materials as up to date as possible, some of the study materials are not available until midway
through a session. However, you are still 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,
tutorial , you should apply as soon as possible and
certainly well before the relevant finalisation date shown in the Tuition Bulletin.
Bulletin .
Expected
Expected availability dates for study material
Foundation ActEd Course
StatsPack & Stats Refresher
CA2 2015 products
Subject CA2 Notes 2016
Subject CA2 MAP 2016
Available now
Available now
Available now
December 2015
January 2016
Combined Materials Pack (CT and CA subjects)
Combined Materials Pack (ST and SA subjects, except SA4)
Combined Materials Pack (Subject SA4)
18 September 2015
2 October 2015
early November 2015
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.
We will also be able to provide some early Chapters of Subject SA4 earlier than November if you wish to start studying earlier than
this.
CMP Upgrade 2015/16 (available free of charge from www.ActEd.co.uk)
Mock Exam A
Additional Mock Pack
Flashcards
Sound Revision
MyTest
30 October 2015
22 January 2016
11 December 2015
15 January 2016
11 December 2015
27 November 2015
ActEd Solutions with Exam Technique (ASET)
Mini-ASET
5 February 2016
13 August 2016
Revision Notes – April 2016 exams
Revision Notes – September 2016 exams
4 December 2015
16 April 2016
Online Classroom – April 2016 exams
Online Classroom – September 2016 exams
November 2015
late May 2016
A ct Ed s t u d y p r o g r a m m e s 2 0 1 5 / 1 6
P ag e 1 3
Your journey through the Fellowship examinations
Core Technical Subjects
CT1
CT2
CT3
CT4
CT5
CT6
CT7
CT8
CT9
Financial Mathematics
Finance and Financial Reporting
Probability and Mathematical Statistics
Models
Contingencies
Statistical Methods
Business Economics
Financial Economics
Business Awareness Module (BAM)
There is one paper in each of Subjects
CT1–CT8. Subject CT9 consists of
internet-based study, attendance on a
two-day or online course and internetbased 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.
Core Application Subjects
CA1
CA2
CA3
Actuarial Risk Management
Model Documentation, Analysis and Reporting
Communications
There are two papers in Subject CA1.
Assessment in Subjects CA2 and CA3
takes place via an online Practical Exam.
Please refer to the IFoA website for
more details.
Specialist Technical Subjects
ST1
ST2
ST4
ST5
ST6
ST7
ST8
ST9
Health and Care
Life Insurance
Pensions and Other Benefits
Finance and Investment A
Finance and Investment B
General Insurance - Reserving and Capital Modelling
General Insurance - Pricing
Enterprise Risk Management
Students are required to take two
subjects only from ST1–ST9.
There is one paper in each of Subjects
ST1-ST9 and SA1-SA6.
Specialist Application Subjects
SA1
SA2
SA3
SA4
SA5
SA6
Health and Care (UK)
Life Insurance (UK)
General Insurance (UK)
Pensions and Other Benefits (UK)
Finance (UK)
Investment (UK)
Students are required to take one
subject only from SA1–SA6.
The IFoA recommends that every UKbased 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.