CP2-Modelling Practice - All English

CP2-Modelling Practice – All English

₹16,000.00

CP2: Modelling Practice – Regular Course.
Faculty: Shivangee Agarwal & Devansh Dhona
Course Duration: 100+ Hours

Category:

CP2 – Modelling Practice

Develop Expertise in Actuarial Modelling, Excel Applications and Professional Reporting

CP2 – Modelling Practice is a Core Practices subject in the actuarial qualification pathway offered by the Institute and Faculty of Actuaries (IFoA), UK, and the Institute of Actuaries of India (IAI).

The subject focuses on applying actuarial knowledge to practical business problems through spreadsheet modelling, data analysis, model validation, documentation and professional communication.

CP2 builds upon mathematical, statistical and actuarial concepts, emphasising the ability to construct reliable models, interpret results and communicate findings effectively.

Unlike primarily theoretical actuarial examinations, CP2 assesses practical modelling and reporting skills using Microsoft Excel and Microsoft Word.

Course Structure & Syllabus

CP2 combines practical spreadsheet modelling, analytical reasoning and professional documentation.

Key Topics Covered:

  1. Data Preparation & Analysis:
    Data cleaning, validation, identifying inconsistencies, exploratory analysis and preparing datasets for actuarial modelling.
  2. Model Design & Development:
    Designing structured Excel models, defining inputs and assumptions, developing calculations and generating appropriate outputs.
  3. Model Testing & Validation:
    Reasonableness checks, reconciliations, error identification, sensitivity testing, scenario analysis and verification of modelling results.
  4. Documentation & Audit Trails:
    Documenting data sources, methodologies, assumptions, model structures, calculations, checks and limitations.
  5. Interpretation & Communication of Results:
    Analysing model outputs, identifying key findings, evaluating risks and explaining conclusions.
  6. Professional Reporting:
    Preparing structured reports, summarising modelling approaches, presenting results and communicating recommendations to stakeholders.
  7. Model Improvements & Next Steps:
    Identifying additional investigations, potential model enhancements, further analysis and recommendations for future work.

The CP2 syllabus focuses on practical actuarial modelling, spreadsheet accuracy, model validation, documentation and professional communication.

Syllabus Topics & Weightages

The CP2 syllabus comprises six principal areas, with the following indicative weightages under the IFoA curriculum:

Topic Weightage
Preparation and Analysis of Data 10%
Development of a Model 20%
Model Testing 5%
Documentation 45%
Communication of Results and Conclusions 10%
Next Steps 10%
Total 100%

These weightages represent approximate syllabus coverage. Actual question distribution may vary between examination sittings.

Examination Structure

CP2 consists of two compulsory practical examinations: CP2 Paper 1 (Modelling and Audit Trail) and CP2 Paper 2 (Model Analysis and Reporting).

Both papers must be attempted during the same examination sitting.

Particulars IAI (India) IFoA (UK)
Paper 1 Modelling & Audit Trail Modelling & Audit Trail
Paper 1 Duration 3 Hours 15 Minutes 3 Hours 20 Minutes
Paper 1 Weightage 50% Combined Assessment
Paper 2 Model Analysis & Reporting Model Analysis & Reporting
Paper 2 Duration 3 Hours 15 Minutes 3 Hours 20 Minutes
Paper 2 Weightage 50% Combined Assessment
Examination Software Excel & Word Excel & Word
Examination Mode Centre-Based Online In-Person at Exam Centres or Remotely Invigilated Online

Important Examination Guidelines

  • Paper 1 – Modelling & Audit Trail:
    Candidates analyse supplied data, construct an appropriate spreadsheet model, perform validation checks and prepare an audit trail documenting their work.
  • Paper 2 – Model Analysis & Reporting:
    Candidates work with a supplied model, perform additional analysis, interpret results and prepare a structured summary report.
  • Practical Assessment:
    Both papers evaluate spreadsheet modelling, analytical reasoning, model documentation and the practical application of actuarial concepts.
  • IFoA Examination Mode:
    Students can indicate their preference for an authorised examination centre or remote online invigilation. Final allocation is subject to availability and IFoA guidelines.
  • IAI Examination Mode:
    Examinations are conducted online at designated examination centres in accordance with IAI’s examination arrangements.
  • Examination Requirements:
    Students must comply with the respective institute’s rules regarding permitted software, examination materials, file submissions and conduct.

Passing Criteria

The passing requirements differ between IAI and IFoA.

Institute Passing Requirements
IAI (India) Minimum 30% in each paper and 50% aggregate
IFoA (UK) Approximately 56%–65% (varies across examination terms)

Important Information:

  • Both Paper 1 and Paper 2 must be attempted during the same examination sitting.
  • IAI requires a minimum of 30% in each paper and 50% overall.
  • IFoA determines the passing mark for each examination sitting. The 56%–65% range is indicative, not a fixed official requirement, and actual passing marks may fall outside this range.
  • Candidates who do not clear CP2 must reappear for both papers in a subsequent examination sitting.

Eligibility Criteria

CP2 is a Core Practices examination suitable for students developing practical actuarial modelling and professional reporting skills.

  • Students can pursue CP2 through the IAI or IFoA examination pathway, subject to the respective institute’s eligibility and registration requirements.
  • No prior actuarial examination pass is required before attempting CP2 under the IFoA pathway.
  • Knowledge of mathematical, statistical and actuarial concepts from the Core Principles subjects is recommended.
  • Familiarity with Microsoft Excel and Microsoft Word is essential for the practical examination.
  • Students must fulfil the applicable registration and examination entry requirements of their selected actuarial institute.

Learning Objectives

Studying CP2 develops the ability to:

  • Analyse and prepare data for actuarial modelling.
  • Design and construct structured Excel models.
  • Apply actuarial techniques to practical business problems.
  • Perform model validation and sensitivity testing.
  • Prepare comprehensive audit trails and documentation.
  • Interpret modelling results and identify key risks.
  • Communicate findings through professional reports.
  • Recommend appropriate model improvements and further analysis.

Practical Applications of CP2

The knowledge gained in CP2 is applicable across several actuarial and financial disciplines:

  1. Life & General Insurance:
    Developing pricing and reserving models, analysing claims experience and assessing product profitability.
  2. Pensions:
    Modelling retirement benefits, projecting liabilities and evaluating funding scenarios.
  3. Investment & Asset-Liability Management:
    Preparing cash flow projections, conducting sensitivity analysis and evaluating investment risks.
  4. Enterprise Risk Management:
    Developing scenario models, stress-testing financial outcomes and analysing business risks.
  5. Actuarial Consulting & Advisory:
    Preparing transparent actuarial models, documenting methodologies and communicating results to management and clients.

CP2 develops practical modelling and communication competencies that complement CP1 – Actuarial Practice and CP3 – Communication Practice, while supporting advanced actuarial studies and professional applications.

Technical Requirements – AEI Learning Application

To access online classes, recorded lectures and digital study resources, students must ensure their devices meet the following minimum technical requirements of the Actuators Educational Institute (AEI) Learning Application.

Device / Platform Minimum Requirement
Android Android 9.0 or above
Windows PC / Laptop Windows 10 or above
iPhone / iPad (iOS) iOS 12.0 or above
MacBook / iMac (macOS) Apple M1 chip or above with macOS 14 or later
WHAT YOU WILL GET

Course Deliverables

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Recorded Lectures
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Softcopy of AEI Own Study Materials
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Access to Student Dashboard
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Technical Support
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Weekend Live Paper Solving Classes
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Mock Test with Detailed Evaluation (3 Sets)
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Course Extension (2 More Terms)
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Interactive Q & A Forum

Devansh DhonaAIR 1
Chayan Agarwal82
Adarsh Agarwal79
Hitakshi Shah79
Neha Agarwal77
Nandini Aggarwal76
Anoushka Kothari75
Sapan Gupta75
Priyansh Gupta74
Sneha Banerjee73
Manchite Chowdhury73
Ayushman Paul71
Dhruvi Shah71
Geetika Dhona71
Tirth Shah71

FACULTY

Meet The Instructor


Shivangee Agarwal is a globally qualified actuary holding the prestigious credentials of FIA (UK), FIAI (India) and FSA (USA), along with the C.Act designation, giving her professional recognition across three of the world’s leading actuarial bodies. She is also IFRI Certified, holds a Master’s in Data and Business Analytics from IIM Indore, and completed her B.Com (Hons. in Finance) from St. Xavier’s College, Kolkata. She secured All India Rank 1 in CT7 – Business Economics, reflecting her strong academic foundation in actuarial science, finance and analytics.

With over 10 years of teaching experience, she has taught and mentored 5,000+ students across Actuarial Science, Data Analytics and Finance. At Actuators Educational Institute, she teaches the Paper B components of CM subjects, along with CS2, CB2, CP2, CP3 and FRM, and also conducts training in Excel, VBA, SQL and R Programming. She has delivered workshops and academic sessions at institutions including SRCC, Lady Shri Ram College, St. Xavier’s College, Mithibai College, IIM Indore and IBS Hyderabad, combining deep technical expertise with a practical, structured and exam-focused teaching approach.

Devansh Dhona is an accomplished actuarial professional who has cleared 10 out of 13 actuarial papers and secured All India Rank 1 in CP2. A B.Com (Hons.) graduate from St. Xavier’s College, Kolkata, he brings strong technical knowledge along with practical experience from the General Insurance industry.

At Actuators Educational Institute, Devansh teaches ACET, CP2 and SOA FAM. His teaching approach focuses on conceptual clarity, structured problem-solving, and application-oriented learning, helping students build strong fundamentals and approach actuarial examinations with greater clarity and confidence.

PLAYLIST

Demo Class Videos


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