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Cp2 Syllabus 2026 Final Proof

The Modelling Practice (CP2) syllabus for the 2026 examinations outlines the aims, objectives, and assessment methods for students pursuing the Associateship Qualification. It emphasizes the importance of data preparation, model development, documentation, and effective communication of results, with specific topic weightings provided. Assessment consists of two papers requiring candidates to demonstrate knowledge, application, and higher-order skills in modelling practices.

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14 views6 pages

Cp2 Syllabus 2026 Final Proof

The Modelling Practice (CP2) syllabus for the 2026 examinations outlines the aims, objectives, and assessment methods for students pursuing the Associateship Qualification. It emphasizes the importance of data preparation, model development, documentation, and effective communication of results, with specific topic weightings provided. Assessment consists of two papers requiring candidates to demonstrate knowledge, application, and higher-order skills in modelling practices.

Uploaded by

Manjit Bhusal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Associateship Qualification

Modelling Practice (CP2)

Core Practice

Syllabus for the 2026 Examinations

April 2025
Syllabus Modelling Practice (CP2) 2026

Modelling Practice (CP2)


Syllabus for the 2026 Examinations
This syllabus includes information to support the study of this subject. It will guide you through what
you need to learn, application of learning as well as the skills that you need to develop. Information
regarding the assessment of this subject is also included.

This syllabus includes:

• Aim of the subject


• How this subject links across the Qualifications
• Subject topics and topic weightings
• Subject objectives
• Assessment information

Aim
Understand and apply the critical steps to model data, document the work, create and maintain an audit
trail, analyse the methods used and outputs generated and effectively communicate to colleagues the
approach, results and conclusions

Links Across the Qualifications


Associateship Qualification

In the assessment of this subject, students will use techniques and apply concepts developed in CM1,
CM2, CS1, and CS2 as well as application of CP1 principles.

Topics and Topic Weightings


1. Preparation and analysis of data [10%]
2. Development of a model [20%]
3. Model testing [5%]
4. Documentation [45%]
5. Communication of results and conclusions [10%]
6. Next steps [10%]

© Institute and Faculty of Actuaries 2


Syllabus Modelling Practice (CP2) 2026

Objectives
1 Preparation and analysis of data [10%]
1.1 Use appropriate tools for checking, cleaning, restructuring and transforming data to make it
suitable for analysis
1.2 Summarise data using appropriate analysis, descriptive statistics and graphical representation
1.3 Select and carry out appropriate statistical tests of reasonableness
1.4 Make appropriate assumptions about the data provided
1.5 Repair corrupt or missing data

2 Development of a model with clear documentation [20%]


2.1 Plan and produce a spreadsheet model to solve a specified problem
2.2 Create appropriate charts to support visual interpretation of the results

3 Model testing [5%]


3.1 Perform checks on the intermediate and final results of a model
3.2 Comment on the reasonableness of the results from a model under different scenarios

4 Documentation [45%]
4.1 Create a clear audit trail, which could be followed by a senior actuary and would enable the
model to be worked on and corrected by a fellow student and includes:
• key assumptions
• description of data and model checks
• methodology
• reasonableness checks
4.2 Draft a clear summary of the model and the results for a senior actuary to include:
• the data
• assumptions
• approach taken
• results
• conclusions
• suggested next steps to develop the model

5 Communication of results and conclusions [10%]


5.1 Provide commentary on the results from a model appropriate for the target audience. This
should cover, but not be limited to:
• Analytical comments on each stage of the results, including explaining patterns in the results
and any unusual features
• An explanation of the differences between the results under the various strategies modelled

© Institute and Faculty of Actuaries 3


Syllabus Modelling Practice (CP2) 2026

6 Next Steps [10%]


6.1 Identify possible next steps for the client having taken into consideration the initial modelling
and the results, including:
• Possible enhancements to the model
• Additional modelling to provide additional information to support the project’s objectives

Assessment
The assessment of this subject will consist of two examinations, CP2 Paper 1 and CP2 Paper 2.

• CP2 Paper 1 will ask you to consider a scenario and data, complete a data analysis, create a model
and provide an audit trail.
• CP2 Paper 2 will ask you to consider a model that has already been produced, carry out some
additional modelling, analyse the methods used and the outputs, apply and interpret the results, and
communicate the approach, results and conclusions.

The duration of each examination is three hours and twenty minutes and is timed and online. In order to
pass this subject, you must sit both CP2 Paper 1 and CP2 Paper 2 within the same sitting and achieve
a combined mark of a pass.

In both papers, a number of questions will be set with varying marks and in line with the above syllabus
topic weightings and skill levels.

Topic weighting

The topic weighting percentage noted alongside the topics is indicative of the volume of content of a
topic within the subject and therefore broadly aligned to the volume of marks allocated to this topic in
the examination. For example if a topic is 20% of the subject then you can expect that approximately
20% of the total marks available in the examination paper will be available on that topic.

Candidates for assessment should ensure that they are well prepared across the entire syllabus.
The examination can be composed of questions drawing from any part of the syllabus within any
examination sitting and using any command verb. This includes knowledge, techniques, principles,
theories, and concepts as specified. Candidates should not rely on past papers alone and should
ensure they have covered the entire syllabus as part of their learning and development of this subject.
A list of command verbs used in the examinations is included on the IFoA website.

In each examination, candidates will be expected to demonstrate, through their answers, that they have
knowledge of, can apply and use higher order skills in this subject:

• Knowledge will be demonstrated through answering questions that assess your understanding of that
knowledge as well as through questions that ask you to apply relevant knowledge to scenarios.
• Application will be demonstrated through answering questions which assess that you can identify and
apply relevant concepts and skills to solve problems (both numerical and non-numerical).
• Higher order skills will be demonstrated through questions that will assess that you can use relevant
knowledge, concepts and skills to solve problems, draw appropriate conclusions, and make
meaningful and appropriate comments on those conclusions.

© Institute and Faculty of Actuaries 4


Syllabus Modelling Practice (CP2) 2026

As a guide, in the examination of this subject, you can expect that approximately 5% of the total number
of marks for this examination be allocated to the demonstration of knowledge, 80% to application and
15% to higher order.

IFoA Guidance and Regulations

Please ensure you have read and understood the Assessment Regulations and Examinations
handbook ahead of your exam. Useful and important information can be found in the Qualifications
Handbook. These are all available on the IFoA website.

© Institute and Faculty of Actuaries 5


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