CP1: Study Guide Page 1

Subject CP1
2025 Study Guide
Contents

Section 1 Introduction Page 1

Section 2 Subject CP1 – background and contents Page 2
Section 3 Syllabus Page 5
Section 4 Core Reading Page 15
Section 5 Skills and assessment Page 17
Section 6 ActEd study support Page 19
Section 7 General information and support Page 21

1 Introduction
This Study Guide has been created to help you navigate your way through Subject CP1. It contains
useful information you will need before starting to study Subject CP1 for the 2025 exams. You
may also find it useful to refer to throughout your studies.

Further information on study skills can be found on our website at ActEd.co.uk.

Please read this Study Guide carefully before reading the Course Notes, even if you have studied
for some actuarial exams before.

Before you start

When studying for the Institute and Faculty of Actuaries’ exams, you may need:
 a copy of the Formulae and Tables for Examinations of the Institute and Faculty of
Actuaries, 2nd Edition (2002) – these are referred to simply as the Tables
 a scientific calculator and/or software package to help with calculations.

The Tables are available from the Institute and Faculty of Actuaries’ eShop. Please visit
actuaries.org.uk.

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2 Subject CP1 – background and contents

2.1 Links to other subjects

Associateship Qualification
Actuarial Practice (Subject CP1) builds upon principles and techniques from:
 Business Finance (Subject CB1) and Business Economics (Subject CB2)
 Actuarial Statistics (Subject CS1) and Risk Modelling & Survival Analysis (Subject CS2)
 Actuarial Mathematics for Modelling (Subject CM1) and Economic Modelling (Subject
CM2).

Fellowship Qualification
Actuarial Practice underpins the Specialist Principles Subjects (Subjects SP1–SP9) and the
Specialist Advanced Subjects (Subjects SA1–SA7), where the concepts developed in this subject
are used to solve more complex problems, produce coherent advice and make recommendations
in specific practice areas.

Actuarial Practice also provides an essential introduction to Subject SP9 (Enterprise Risk
Management) and the Chartered Enterprise Risk Actuary credential.

2.2 Subject contents

There are ten parts to the Subject CP1 course. The parts cover related topics and are broken down
into chapters. At the end of every other part there is an assignment testing the material from
that part.

The following table shows how the parts and chapters relate to each other. The final column
shows how the chapters relate to the days of the regular tutorials. This table should help you plan
your progress across the study session.

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No of X Tutorial –
Part Chapter Title
pages Assignment 5 days
0 What is Subject CP1 all about? 29
1 Actuarial advice 29
1 2 External environment 27
3 Regulation 34
Introduction to financial products and X1 1
4 28
customer needs
5 Benefits overview and providers of benefits 29
2 6 Life insurance products 37
7 General insurance products 31
8 Bond and money markets 27
9 Equity and property markets 26
3 10 Other investment classes 38
11 Behaviour of the markets 49
12 Valuation of investments 35
X2 2
Relationship between returns on asset
13 15
classes

4 14 Choosing an appropriate investment strategy 31

15 Asset-liability management 33
16 Investment management 23
17 Modelling 35
5 18 Data 38
19 Setting assumptions 31
20 Mortality and morbidity 27 X3 3
21 Expenses 22
6
22 Contract design 49
23 Pricing and financing strategies 27

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No of X Tutorial –
Part Chapter Title
pages Assignment 5 days
24 Risk governance 23
25 Risk identification and classification 37
7
26 Financial product and benefit scheme risks 40
27 Accepting risk 23 X4 4
28 Risk measurement and reporting 30
8 29 Risk transfer 45
30 Other risk controls 44
31 Provisions 28
32 Valuation of liabilities 28
9
33 Reporting results 19
34 Insolvency and closure 25
35 Capital management 28 X5 5
36 Capital requirements 25
10 37 Surplus and surplus management 43
38 Monitoring 34
39 Glossary 26

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3 Syllabus
The Syllabus for each subject is produced by the Institute and Faculty of Actuaries. It includes
information to support the study of this subject. The Syllabus will guide you through what you
need to learn, the application of learning, as well as the skills that you need to develop.

Students can use the Syllabus as a guide for learning and development. We recommend that you
use the Syllabus as an important part of your study.

3.1 Aim
The aim of Subject CP1 is to understand how to apply the underlying actuarial principles,
mathematical and statistical techniques, as well as business finance and economics concepts, to a
range of problems and issues in commercial and business environments, focussing on problems
and issues in financial services, with application to wider domains and industries.

3.2 Topics and topic weightings

This subject covers the following topics:
1. Actuarial advice and meeting the needs of stakeholders (5%)
2. General business environment (20%)
3. Specifying the problem (15%)
4. Developing the solution (45%)
5. Living with the solution (15%)

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.

Students should ensure that they are well prepared across the entire syllabus and have an
understanding of the principal terms used within the course. These principal terms are covered
throughout the course notes, particularly in Chapter 39.

3.3 Objectives
The detailed syllabus objectives for Subject CP1 are given below. To the right of each objective are
the chapter numbers in which the objective is covered in the ActEd course. The relevant
individual syllabus objectives are also included at the start of each course chapter.

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1. Actuarial advice and meeting the needs of stakeholders (5%)

Recognise the considerations in providing actuarial advice and meeting the needs of
stakeholders and the main benefits and financial products that actuaries advise on:

1.1 Understand the clients that actuaries advise and the considerations to ensure that
this advice meets the needs of stakeholders. (Chapter 1)

1.1.1 How stakeholders other than the client may be affected by any actuarial
advice given.

1.1.2 The business roles that actuaries advise.

1.1.3 Why and how certain factual information about the client should be
sought in order to be able to give advice.

1.1.4 Why subjective attitudes of clients and other stakeholders – especially

towards risk – are relevant to giving advice.

1.1.5 The professional and technical standards that may apply to actuarial
advice.

1.2 Understand the main benefits and financial products that actuaries advise on.
(Chapters 4, 5, 6 and 7)

1.2.1 Main providers of benefits on contingent events.

1.2.2 Main types of social security benefits and financial products and how they
can provide benefits on contingent events that meet the needs of clients
and stakeholders.

1.2.3 Main principles of insurance and pensions that impact on these benefits
and products.

1.2.4 Ways of analysing the needs of clients and stakeholders to determine

appropriate financial products.

2. General business environment (20%)

Understand how the external business environment can impact an organisation’s

commercial decisions:

2.1 Understand the regulatory environment for an organisation. (Chapter 3)

2.1.1 Principles and aims of prudential and market conduct regulatory regimes.

2.1.2 The role that major financial institutions can play in supporting the
regulatory and business environment.

2.1.3 The concept of information asymmetry.

2.1.4 How certain features of financial contracts may be identified as unfair,

and the impact of the requirement to treat a customer fairly.

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2.2 Understand the various external forces on an organisation and their impact.
(Chapter 2)

2.2.1 The implications of external forces on financial products for the main
providers of financial products:
 legislation, regulation, tax and accounting standards
 State benefits
 capital adequacy and solvency
 corporate governance and risk management requirements
 competitive advantage and commercial requirements
 changing cultural and social trends, demographic changes and
lifestyle considerations
 climate change and other environmental issues
 international practice
 technological changes.

2.3 Understand the impact of the investment environment.

(Chapters 8, 9, 10 and 11)

2.3.1 The characteristics of the principal investment assets and of the markets
in such assets.

2.3.2 How the risk profile of the principal investment assets affects the market
in such assets.

2.3.3 Principal economic influences on investment markets.

2.3.4 Other factors affecting supply and demand in investment markets.

3. Specifying the problem (15%)

Understand how to identify, classify, measure and manage risks in a range of commercial
situations including use of the actuarial control cycle for risk management:

3.1 Apply the actuarial control cycle for an organisation. (Chapter 0)

3.1.1 The actuarial control cycle and the purpose of each of its components.

3.1.2 How the actuarial control cycle can be applied in a variety of practical
commercial situations, including its use as a risk management control
cycle.

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3.2 Understand the principles of organisational risk governance.

(Chapters 24 and 27)

3.2.1 The risk management process for a business that can aid in the design of
financial products.

3.2.2 The differences between systematic and diversifiable risk.

3.2.3 How enterprise risk management can add value to the management of a
business.

3.2.4 The roles and responsibilities of various stakeholders in the management

of risk.

3.2.5 Risk appetite and the attainment of risk efficiency.

3.3 Identify risks and understand how risk classification can be used in the design of
financial products or for actuarial problem solving. (Chapters 25, 26 and 27)

3.3.1 Techniques used to identify the risks associated with financial products for
their purchasers and providers.

3.3.2 The risks and uncertainties affecting:

 the level and incidence of benefits payable on contingent events
 the overall security of benefits payable on contingent events.

3.3.3 How risk classification can aid the design of financial products.

3.3.4 The possible risk categories that apply to businesses in general, and
particularly financial services businesses.

3.4 Understand and apply the main methods of measuring and monitoring risk that
can be used. (Chapter 28)

3.4.1 The methods used to quantify risk.

3.4.2 Uses of scenario analysis, stress testing and stochastic modelling in the
evaluation of risk.

3.4.3 Methods of risk aggregation and their relative advantages and

disadvantages.

3.4.4 The methods of measuring and reporting risk that can be used by the
main providers of financial products.

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3.5 Understand the main factors to be considered in deciding on the contract design
of financial products.

3.5.1 The factors to be considered in determining a suitable design for financial

products in relation to: (Chapter 22)
 the characteristics of the parties involved
 the risk appetite or risk aversion of the parties involved
 the regulatory environment
 the market for the product
 competitive pressures
 the level and form of benefits to be provided
 any options or guarantees that may be included
 the benefits payable on discontinuance or transfer of rights
 the method of financing the benefits to be provided
 the choice of assets when benefits are funded
 administrative issues
 the charges that will be levied
 the capital requirements.

3.5.2 The issues surrounding the management of options and guarantees.

(Chapters 22 and 30)

3.6 Recognise the potential risks and issues in working with data and understand how
to manage those issues and risks. (Chapter 18)

3.6.1 Ethical and regulatory issues associated with the use of data, and data
governance.

3.6.2 Data requirements for determining values for assets, future benefits and
future funding requirements.

3.6.3 Checks on data.

3.6.4 Circumstances under which the ideal data may not be available and ways
in which this can be addressed.

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4. Developing the solution (45%)

Understand how models are used to solve actuarial or financial problems, including the
considerations in setting the assumptions to be used for modelling, and apply relevant
approaches and techniques to the valuation of liabilities:

4.1 Understand how models are used to solve actuarial or financial problems.
(Chapter 17)

4.1.1 The approaches available to produce the solution to an actuarial or

financial problem.

4.1.2 The construction of actuarial models in terms of:

 the objectives of the model
 the operational issues that should be considered in designing and
running models.

4.1.3 The use of models for:

 pricing or setting future financing strategies
 risk management: assessing the capital requirements and the
return on capital or the funding levels required
 assessing the provisions needed for existing commitments to
provide benefits on contingent events
 pricing and valuing options and guarantees.

4.1.4 How sensitivity analysis of the results of the models can be used to help
decision making.

4.2 Understand the considerations in setting the assumptions to be used for

modelling an actuarial or financial problem.

4.2.1 The principles behind the determination of assumptions as input to a

model relevant to producing a specific solution, having regard to:
(Chapter 19)
 the types of information that may be available to help in
determining the assumptions to be used
 the extent to which each type of information may be useful, and
the other considerations that may be taken into account, in
deciding the assumptions
 the level of prudence in the assumptions required to meet the
objectives of the client.

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4.2.2 Allowance for mortality and morbidity: (Chapter 20)

 principal forms of heterogeneity within a population, the ways in
which selection can occur and how the use of risk classification
can address the consequences of selection
 how to determine the appropriate grouping of data to achieve the
optimal level of homogeneity
 why it is necessary to have different mortality tables for different
classes of lives
 principal factors that contribute to the variation in mortality and
morbidity by region and according to the social and economic
environment
 how various types of selection (eg temporary initial selection,
class selection) can be expected to occur among individuals or
groups
 the concept of mortality convergence
 how decrements can have a selective effect on the remaining
business.

4.2.3 Allowance for expenses: (Chapter 21)

 the types of expenses that the providers of financial products
must meet
 how expenses may be allocated when pricing financial products.

4.3 Understand the considerations for determining the cost of a financial product or
benefit and the price charged to the consumer. (Chapter 23)

4.3.1 How to determine the cost of providing benefits on contingent events.

4.3.2 The factors to take into account when determining the appropriate level
and incidence of contributions to provide benefits on contingent events.

4.3.3 The influence of provisioning and regulatory capital requirements on

pricing and setting financing strategies.

4.4 Understand relevant investment management principles.

(Chapters 12, 13, 14 and 16)

4.4.1 The principles and objectives of investment management and the needs
of an investor, taking into account liabilities, liquidity requirements and
risk appetite.

4.4.2 Methods for the valuation of individual investments and their

appropriateness in different situations.

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4.4.3 The theoretical relationships between the total returns and the
components of total returns, on equities, bonds and cash, and price and
earnings inflation.

4.4.4 Methods for the valuation of portfolios of investments and their

appropriateness in different situations.

4.5 Apply relevant approaches and techniques to the valuation of liabilities.

(Chapters 31 and 32)

4.5.1 Reasons for the valuation of the benefits from financial products and the
impact on the choice of methodology and assumptions.

4.5.2 How to determine values for provisions in terms of:

 the need for placing values on provisions and the extent to which
values should reflect risk management strategy
 the principles of fair valuation of assets and liabilities and other
market-consistent methods of valuing the liabilities
 the reasons why the assumptions and methods used to place a
value on guarantees and options may differ from those used for
calculating the accounting provisions needed
 how sensitivity analysis can be used to check the appropriateness
of the values.

4.5.3 Methods of allowing for risk in cashflows.

4.5.4 Methods of allowing for uncertainty in present values of liabilities.

4.5.5 The influence of comparisons with market values.

4.6 Understand the relationship between assets and liabilities. (Chapters 15 and 16)

4.6.1 The principles of investment and the asset / liability matching

requirements of the main providers of financial products.

4.6.2 How actuarial techniques such as asset / liability modelling may be used
to develop an appropriate investment strategy.

4.6.3 The use of a risk budget for controlling risks in a portfolio.

4.6.4 The techniques used to construct and monitor a specific asset portfolio.

4.6.5 The need to monitor investment performance and to review investment

strategy.

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4.7 Understand stakeholder responses to risk and how they can be managed.
(Chapters 27, 29 and 30)

4.7.1 Methods of risk acceptance, rejection, transfer and control for

stakeholders.

4.7.2 Difference between the risks taken as an opportunity for profit and the
risks to be mitigated.

4.7.3 Principle of pooling risks.

4.7.4 Risk management aspects of a particular business issue and development

of an appropriate risk management strategy.

4.7.5 Tools for the management and control of risk.

4.7.6 Management of risks with low likelihood but high impact.

4.8 Recognise the importance of capital for an organisation. (Chapters 35 and 36)

4.8.1 Interrelationship between risk and capital management.

4.8.2 Implication of risk for capital requirements, including economic and

regulatory capital requirements.

4.8.3 How the main providers of benefits on contingent events can meet,
manage and match their capital requirements.

4.8.4 Implications of the regulatory environment in which the business is

written for provisioning and capital requirements.

4.8.5 Risk-based capital and other measures of capital needs.

4.8.6 Merits of an economic balance sheet to determine risk-based capital

requirements.

4.8.7 Use of internal models for assessment of economic and regulatory capital
requirements.

5. Living with the solution (15%)

Monitoring, reporting and responding to experience:

5.1 Apply appropriate techniques to manage and maintain an organisation’s

profitability. (Chapters 35, 36 and 37)

5.1.1 How the main providers of financial products can control and manage the
cost of:
 payments arising on contingent events
 expenses associated with the payment of benefits.

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5.1.2 How regulatory capital requirements impact on a provider’s profitability.

5.1.3 The tools available for capital management.

5.2 Analyse and understand performance and the considerations for an organisation
to distribute surplus. (Chapters 16 and 37)

5.2.1 How a provider can analyse actual performance against expected

performance.

5.2.2 How a provider can analyse performance of an investment portfolio

against a benchmark.

5.2.3 Sources of surplus / profit and the management actions that can control
the amount of surplus / profit.

5.2.4 Why a provider will carry out an analysis of the changes in its
surplus / profit.

5.2.5 How any surplus / profit arising may be distributed.

5.2.6 Considerations in determining the amount of surplus / profit that may be

distributed at any time and the rationale for retention of surplus / profit.

5.3 Understand how an organisation can monitor its experience and manage risk.

5.3.1 Reports and systems that may be set up to control the progress of the
financial condition of the main providers of financial products.
(Chapter 33)

5.3.2 Reports and systems that may be set up to monitor and manage risk at
the enterprise level. (Chapter 28)

5.3.3 Issues which need to be taken into account on the insolvency or closure of
a provider of financial products. (Chapter 34)

5.3.4 How the actual experience can be monitored and assessed, in terms of:
(Chapters 21 and 38)
 the reasons for monitoring experience
 the data required
 the process of analysis of the various factors affecting the
experience
 the use of the results to revise models and assumptions.

5.3.5 How the results of the monitoring process in the actuarial control cycle or
the risk management control cycle are used to update the financial
planning in a subsequent period. (Chapter 38)

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4 Core Reading
This section explains the role of the Core Reading and how it links to the Syllabus, supplementary
ActEd text and the examination.

4.1 Core Reading

The Core Reading has been produced by the Institute and Faculty of Actuaries. It supports
students in their learning and development of this subject by providing information and
explanation of the topics and objectives in the Syllabus.

The Core Reading is updated annually to reflect any changes to the Syllabus and current practice,
as well as for continuous improvement.

The current version of the Core Reading is up-to-date as of 31 May 2024. It references the version
of any legislation, standards, professional guidance, etc as of this date. Any known upcoming
changes to the references are noted where relevant in the Core Reading.

Accreditation
The Institute and Faculty of Actuaries would like to thank the numerous people who have helped
in the development of the material contained in the Core Reading.

Further reading
Additional resources to support candidate learning and development for this subject can be found
on the Module pages on the Institute and Faculty of Actuaries’ website:

actuaries.org.uk/curriculum/

4.2 Links to the Syllabus

Each part of the Core Reading relates directly to the Syllabus.

The Core Reading supports coverage of the Syllabus in helping to ensure that both depth and
breadth are re-enforced.

4.3 Links to the examination

Examiners can set questions based on any area of the Syllabus within any examination sitting and
will consider and draw from the Core Reading when setting examinations questions.

Students will be expected to apply the Core Reading to scenarios and questions proposed by the
examiners.

The exams in April and September 2025 will be based on the Syllabus and Core Reading as at
31 May 2024. We recommend that you always use the up-to-date Core Reading to prepare for
the exams.

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Past papers indicate to students how the examiners apply the Core Reading. The Examiners’
Reports provide further insight as to how students answered the questions and how marks were
awarded.

4.4 ActEd text

The Core Reading deals with each syllabus objective and covers what is needed to pass the exam,
and the Subject CP1 Course Notes include the Core Reading in full, integrated throughout the
course.

However, the tuition material that has been written by ActEd enhances it by giving examples and
further explanation of key points. Here is an excerpt from some ActEd Course Notes to show you
how to identify Core Reading and the ActEd material. Core Reading is shown in this bold font.

In the example given above, the index will fall if the actual share price goes below the theoretical
ex-rights share price. Again, this is consistent with what would happen to an underlying portfolio.

After allowing for chain-linking, the formula for the investment index then becomes:

 Ni ,t Pi ,t This is
I (t )  i ActEd
B(t ) text
where Ni ,t is the number of shares issued for the ith constituent at time t; This is Core
B (t ) is the base value, or divisor, at time t. Reading

Copyright
All study material produced by ActEd is copyright and is sold for the exclusive use of the
purchaser. The copyright is owned by Institute and Faculty Education Limited, a subsidiary of the
Institute and Faculty of Actuaries. Unless prior authority is granted by ActEd, you may not hire
out, lend, give out, sell, store or transmit electronically or photocopy any part of the study
material. You must take care of your study material to ensure that it is not used or copied by
anybody else.

Legal action will be taken if these terms are infringed. In addition, we may seek to take
disciplinary action through the Institute and Faculty of Actuaries or through your employer.

These conditions remain in force after you have finished using the course.

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5 Skills and assessment

5.1 Exam skills

In each examination, students 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 understanding
of that knowledge as well as through questions that ask for the application of relevant
knowledge to scenarios.
 Application will be demonstrated through answering questions that assess the ability to
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 the ability to
use relevant knowledge, concepts and skills to solve problems, draw appropriate
conclusions, and make meaningful and appropriate comments on those conclusions.

In Subject CP1:
 Paper 1 will primarily test knowledge and application skills
 Paper 2 will primarily test the application and higher order skills.

The approximate split of assessment across the three skill types is:

Skill type Paper 1 Paper 2 Overall

Knowledge 30% 10% 20%
Application 55% 45% 50%
Higher Order skills 15% 45% 30%

The Institute and Faculty of Actuaries use command verbs (such as ‘Define’, ‘Discuss’ and
‘Explain’) to help students to identify what the question requires. The examination can be
composed of questions drawing from any part of the syllabus and using any command verb.

The Institute and Faculty of Actuaries has produced guidance on ‘Command verbs used in the
Associate and Fellowship examinations’, to help students to understand what each command
verb is asking them to do.

You can find the relevant document on the Institute and Faculty of Actuaries’ website at:

actuaries.org.uk/qualify/prepare-for-your-exams

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5.2 Assessment
Assessment is in the form of two 3 hour 20 minute timed, online examinations:
 Paper 1 consists of a number of questions of varying marks
 Paper 2 will usually include scenarios with questions of varying marks that are relevant to
each scenario.

The allocated time includes reading time, as well as the time taken for students to download
and/or print the question paper. Answers must be constructed and typed in Microsoft Word.

In order to pass this subject, both Paper 1 and Paper 2 must be sat within the same sitting, and a
combined mark of a pass achieved.

5.3 Further information

The Institute and Faculty of Actuaries has produced a number of documents, which it advises
students to read and understand. In particular, the:
 Qualification Handbook, which contains information on studying and preparing for exams,
as well as available support and resources
 Examinations Handbook, which contains practical assistance on how to sit an Institute and
Faculty of Actuaries’ examination
 Assessment Regulations document, which includes rules on eligibility, entry and conduct
during an online assessment.

The Qualification Handbook can be found at:

actuaries.org.uk/qualify/student-and-associate-exam-news/qualification-handbook

The Examinations Handbook and Assessment Regulations document can be found at:

actuaries.org.uk/qualify/my-exams/ifoa-exams

IMPORTANT NOTE: These documents may be updated and re-published in the weeks leading up
to each exam session. It is important that you keep up-to-date with any changes and
developments.

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6 ActEd study support

An overview of ActEd’s products and services, and guidance on how to choose the best ones for
you, can be found on our website at ActEd.co.uk/productguide.

6.1 Summary of ActEd products and services

Detailed descriptions of all ActEd’s products and services can be found on our website at
ActEd.co.uk. However, the specific products and services available for Subject CP1 include:
 Course Notes
 X Assignments – six assignments:
– X1-X3: 80-mark tests containing a mix of short-answer and longer scenario-based
questions from specific parts of the course (you are allowed 2¾ hours to complete
these)
– X4 and X5: 100-mark tests containing a mix of short-answer and longer
scenario-based questions from specific parts of the course (you are allowed 3¼
hours to complete these)
– X6: a 100-mark test containing two scenarios testing material across the whole
course (you are allowed 3¼ hours to complete this)
 Series X Marking
 Online Classroom – over 140 tutorial units
 Flashcards
 Sound Revision
 Revision Notes – eleven A5 booklets
 ASET (2020-23 papers) – four years of exam papers, ie eight sittings, covering the period
April 2020 to September 2023
 Mini ASET – covering the April 2024 exam paper
 Mock Exam – two 100-mark tests (Paper 1 and Paper 2)
 Additional Mock Pack (AMP) – two additional 100-mark Paper 1 tests and two additional
100-mark Paper 2 tests
 Mock Exam Marking
 Marking Vouchers.

Products are generally available in both paper and eBook format. Visit ActEd.co.uk for full details
about available eBooks, software requirements and restrictions.

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6.2 Tuition
The following tutorials are typically available for Subject CP1:
 Regular Tutorials (five full days / ten half days)
 Block Tutorials (five days).

Tutorials are typically available both face-to-face and live online.

Full details are set out in our Tuition Bulletin, which is available on our website at ActEd.co.uk.

6.3 Questions and queries

From time to time you may come across something in the study material that is unclear to you.

Our online discussion forum at ActEd.co.uk/forums (or use the link from our home page at
ActEd.co.uk) is dedicated to actuarial students so that you can get help from fellow students on
any aspect of your studies from technical issues to study advice. ActEd tutors visit the site
regularly to ensure that you are not being led astray and we also post other frequently asked
questions from students on the forum as they arise.

If you are still stuck, then you can send queries by email to the Subject CP1 email address
[email protected], but we recommend that you try the forum first. We will endeavour to contact
you as soon as possible after receiving your query but you should be aware that it may take some
time to reply to queries, particularly when tutors are running tutorials. At the busiest teaching
times of year, it may take us more than a week to get back to you.

If you have many queries on the course material, you should raise them at a tutorial or book a
personal tuition session with an ActEd tutor. Please email [email protected] for more details.

6.4 Feedback
If you find an error in the course, please check the corrections page of our website
(ActEd.co.uk/paper_corrections.html) to see if the correction has already been dealt with.
Otherwise, please send the details via email to the Subject CP1 email address [email protected]. Our
tutors work hard to ensure that the courses are as clear as possible and free from errors.

ActEd also works with the Institute and Faculty of Actuaries to suggest developments and
improvements to the Syllabus and Core Reading. If you have any comments or concerns about
the Syllabus or Core Reading, these can be passed on via ActEd. Alternatively, you can send them
directly to the Institute and Faculty of Actuaries’ Examination Team by email to
[email protected].

© IFE: 2025 Examinations The Actuarial Education Company

 CP1: Study Guide Page 21

7 General information and support

7.1 Safeguarding
We want you to feel comfortable within our learning environment and safe in the knowledge that
if you ever needed support, you know where to go.

If you need support, please contact BPP’s Safeguarding team at [email protected] or for
urgent concerns call 07464 542 636.

Additional information can be found at ActEd.co.uk/learningsupport.

7.2 BPP learning support

BPP’s Learning Support team offers a wide range of support for all students who disclose a
learning difficulty or disability. This support is accessible to all ActEd students free of charge.

Please contact BPP’s Learning Support team at [email protected] for more information.

Additional information can be found at ActEd.co.uk/learningsupport.

7.3 The Prevent Duty

The Prevent Duty is to protect people from radicalisation and being drawn into extremist views
and terrorism. As a Government-regulated training provider, ActEd has a duty to ensure that our
learners are well informed and stay safe, and to empower our students to know what to look for
and when to report concerns.

Please report any concerns to a tutor or email [email protected] or for urgent concerns call
07464 542 636.

More information is available at:

 ActEd.co.uk/learningsupport
 officeforstudents.org.uk/advice-and-guidance/student-wellbeing-and-
protection/counter-terrorism-the-prevent-duty/

The Actuarial Education Company © IFE: 2025 Examinations

All study material produced by ActEd is copyright and is sold
for the exclusive use of the purchaser. The copyright is
owned by Institute and Faculty Education Limited, a
subsidiary of the Institute and Faculty of Actuaries.

Unless prior authority is granted by ActEd, you may not hire

out, lend, give out, sell, store or transmit electronically or
photocopy any part of the study material.

You must take care of your study material to ensure that it

is not used or copied by anybody else.

Legal action will be taken if these terms are infringed. In

addition, we may seek to take disciplinary action through
the Institute and Faculty of Actuaries or through your
employer.

These conditions remain in force after you have finished

using the course.

© IFE: 2025 Examinations The Actuarial Education Company