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    CT7 Pu 15 PDF

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    CT7 Pu 15 PDF

    Uploaded by

    Polelar
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    CT7-PU-15.pdf

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    705 views8 pages

    CT7 Pu 15 PDF

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    of 8

    CT7: CMP Upgrade 2014/15 Page 1

    Subject CT7
    CMP Upgrade 2014/15

    CMP Upgrade

    This CMP Upgrade lists all significant changes to the Core Reading and the ActEd
    material since last year so that you can manually amend your 2014 study material to
    make it suitable for study for the 2015 exams.

    Alternatively, you can buy a full replacement set of up-to-date Course Notes at a
    significantly reduced price if you have previously bought the full price Course Notes in
    this subject. Please see our 2015 Student Brochure for more details.

    This CMP Upgrade contains:

    all changes to the Syllabus objectives and Core Reading.

    changes to the ActEd Course Notes, Series X Assignments and Question and
    Answer Bank that will make them suitable for study for the 2015 exams.

    The Actuarial Education Company IFE: 2015 Examinations


    Page 2 CT7: CMP Upgrade 2014/15

    1 Changes to the Syllabus objectives and Core Reading

    1.1 Syllabus objectives

    There are no changes to the syllabus objectives.

    1.2 Core Reading

    There are no changes to Core Reading.

    IFE: 2015 Examinations The Actuarial Education Company


    CT7: CMP Upgrade 2014/15 Page 3

    2 Changes to the ActEd Course Notes


    Module 8

    Page 19

    At the bottom of the page, the first sentence in the definition of a Nash equilibrium has
    been changed to accord with the textbook definition. It now reads:

    A Nash equilibrium is the position resulting from everyone making their optimal
    decision based on their assumptions of rivals decisions.

    Module 17

    Page 5

    About half-way down the page, under Investment, which is itself under the
    subheading Injections, the following sentence has been added:

    When calculating national income, investment includes stocks.

    Page 6

    At the top of page 6, the following has been added:

    Aggregate demand is similar but is not exactly the same as total expenditure because it
    is planned demand rather than actual expenditure. In particular, planned investment
    does not include unplanned changes in stock.

    Page 7

    The first sentence of the final paragraph has been extended so that it now reads:

    The expenditure method adds up all actual expenditure on domestically produced


    output (and includes stock under investment).

    The Actuarial Education Company IFE: 2015 Examinations


    Page 4 CT7: CMP Upgrade 2014/15

    Module 18

    Page 10

    Under the sixth function of the Bank of England, the third sentence has been corrected
    and extended to read:

    Its Financial Policy Committee is responsible for macro-prudential regulation and the
    Prudential Regulation Authority (a subsidiary of the Bank of England) is responsible
    for ensuring the liquidity of individual banks. (A separate institution, the Financial
    Conduct Authority is responsible for consumer protection relating to financial
    products.)

    IFE: 2015 Examinations The Actuarial Education Company


    CT7: CMP Upgrade 2014/15 Page 5

    3 Changes to the Q&A Bank


    Q&A5

    Question 16

    Option A has been changed. It now reads:

    to shift the aggregate supply curve upwards

    The solution now reads:

    Supply-side policies aim to shift the AS curve to the right (and not upwards) in order
    to increase national income. Such a shift will lead to a higher output for any given price
    level and equally a lower price for any given output.

    The Actuarial Education Company IFE: 2015 Examinations


    Page 6 CT7: CMP Upgrade 2014/15

    4 Changes to the X Assignments


    X3

    Question 31

    In the solution, the following points have been added:

    encourages the spread of new technology; might lead to inward investment and
    increased skills in developing countries

    Each point is awarded [].

    Question 32

    The following note to markers has been added to the solution to part (ii):

    Markers: Please give credit for a mathematical proof of this result.

    IFE: 2015 Examinations The Actuarial Education Company


    CT7: CMP Upgrade 2014/15 Page 7

    5 Other tuition services


    In addition to this CMP Upgrade you might find the following services helpful with
    your study.

    5.1 Study material

    We offer the following study material in Subject CT7:


    Online Classroom
    Flashcards
    Sound Revision
    MyTest
    Revision Notes
    ASET (ActEd Solutions with Exam Technique) and Mini-ASET
    Mock Exam
    Additional Mock Pack.

    For further details on ActEds study materials, please refer to the 2015 Student
    Brochure, which is available from the ActEd website at www.ActEd.co.uk.

    5.2 Tutorials

    We offer the following tutorials in Subject CT7:


    a set of Regular Tutorials (usually lasting two or three full days)
    a Block Tutorial (lasting two or three full days)
    a Revision Tutorial (lasting one full day)
    Live Online Tutorials (lasting three full days)
    Live Online Revision Tutorials (lasting one full day).

    For further details on ActEds tutorials, please refer to our latest Tuition Bulletin, which
    is available from the ActEd website at www.ActEd.co.uk.

    The Actuarial Education Company IFE: 2015 Examinations


    Page 8 CT7: CMP Upgrade 2014/15

    5.3 Marking

    You can have your attempts at any of our 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 and to return your scripts as quickly as possible.

    For further details on ActEds marking services, please refer to the 2015 Student
    Brochure, which is available from the ActEd website at www.ActEd.co.uk.

    5.4 Feedback on the study material

    ActEd is always pleased to get feedback from students about any aspect of our study
    programmes. Please let us know if you have any specific comments (eg about certain
    sections of the notes or particular questions) or general suggestions about how we can
    improve the study material. We will incorporate as many of your suggestions as we can
    when we update the course material each year.

    If you have any comments on this course please send them by email to [email protected]
    or by fax to 01235 550085.

    IFE: 2015 Examinations The Actuarial Education Company

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