Modelling Practice (CP2) Exam
Learn to prepare data, build and test a spreadsheet model, document the work and report the results.
Learning Objectives
5 objectivesCheck, clean and summarise data so that it is suitable for analysis.
Plan and build a spreadsheet model to solve a specified problem.
Test a model's results and comment on their reasonableness under different scenarios.
Document the work with a clear audit trail and a summary for a senior actuary.
Communicate the results and suggest next steps for the client.
Programme Outline
6 topicsPreparation and Analysis of Data
Checking, cleaning, restructuring and transforming data, summarising it, testing reasonableness, and repairing corrupt or missing data.
Development of a Model
Planning and producing a spreadsheet model, and creating charts to interpret the results.
Model Testing
Checking intermediate and final results, and commenting on reasonableness under different scenarios.
Documentation
Creating a clear audit trail and drafting a summary of the model and results.
Communication of Results and Conclusions
Commentary on the results suitable for the target audience.
Next Steps
Identifying possible next steps for the client.
Hands-On Resources
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