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The candidate is required to build a spreadsheet model from scratch to validate charity triathlon data, compute competitor speeds, expected speeds and expected times, rank expected finishing positions, and produce summary statistics and charts. Additional tasks include calculating prize payout, total income and outgo, deriving overall profit or loss, and re-solving for a swim-stage λ parameter to achieve zero (or near-zero) profit, with an accompanying audit trail and spreadsheet self-checks.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/institute-and-faculty-of-actuaries-curriculum-2019-specimen-examination-subject-cp2-actuarial-modelling-paper-one/398996/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/institute-and-faculty-of-actuaries-curriculum-2019-specimen-examination-subject-cp2-actuarial-modelling-paper-one/398996.png","ImageObject",300,407,{"name":92,"@type":93},"awa","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-10","2026-09-27",true,{"@type":102,"interactionType":103,"userInteractionCount":44},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What modelling tasks must be completed in the spreadsheet model?","Question",{"text":112,"@type":113},"The paper requires validating competitor data, calculating speeds and expected speeds, computing expected times and overall times, determining expected finish positions, producing summary statistics and charts, calculating prize money, and evaluating total income/outgo and overall profit or loss. It also requires recalculating a λ parameter for the swim stage and the percentage swim-time change to reach zero (or near-zero) profit.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What data and scenario information is provided to support the model?",{"text":117,"@type":113},"A background document describes the scenarios that must be modelled and documented. The charity triathlon results for the 30 registered competitors are provided in an Excel spreadsheet included in the booklet.",{"name":119,"@type":110,"acceptedAnswer":120},"What must the audit trail include?",{"text":121,"@type":113},"The audit trail must state the purpose of the model, list data and assumptions, describe the methodology for each calculation stage, and explain the checks performed. 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You must build your model from the beginning and not use an imported e-template.  \nThis paper contains all of the information required to complete the exam. No other files are supplied.  \nYour file names must include your ARN, the name of the document and the paper sat (e.g. 9000000-SummaryPaper1) and each file should contain your ARN as a header or footer.  \nPlease note that the content of this booklet is confidential and students are not to discuss or reveal the contents under any circumstances nor are they to be used in a further attempt at the exam.  \nIf you encounter any issues during the examination please contact the Online Education team [at](at online_exams@actuaries.org.uk T. 0044)[ ](at online_exams@actuaries.org.uk T. 0044)[online_exams@actuaries.org.uk](at online_exams@actuaries.org.uk T. 0044)[ T. 0044](at online_exams@actuaries.org.uk T. 0044) (0) 1865 268 255  \nThis page has been left blank.  \nExam requirements  \n1. Read the background document, which describes the scenarios that need to be modelled and documented for this project. Technical assistance for the modelling work, should you require it, can be found in the additional guidance contained in this booklet.  \nNo marks will be deducted for the use of this guidance.  \n2. Construct a spreadsheet model that produces the following calculations and charts. You should ensure that your spreadsheet contains appropriate self-checks and that you have performed robust reasonableness checks at each stage of your calculations.  \n(i) Validate the competitor data supplied for the charity triathlon and amend any corrupt or missing data. [10]  \n(ii) Calculate each competitor’s speed for each stage of the charity triathlon. [2]  \n(iii) Calculate each competitor’s expected speed for each stage of the Minister’s triathlon, using your results in part (ii) and the formula and parameters provided. [2]  \n(iv) Calculate the expected time for each competitor to complete each stage of the Minister’s triathlon, and hence each competitor’s overall time for the triathlon. [2]  \n(v) Determine the position in which each competitor is expected to finish in the Minister’s triathlon. [2]  \n(vi) Calculate summary statistics (min, max, mean and interquartile range) for the competitors’ expected overall times for the Minister’s triathlon. [2]  \n(vii) Illustrate the summary statistics from part (vi) using a single chart. [3]  \n(viii) Calculate the prize money paid out for the Minister’s triathlon. [2]  \n(ix) Calculate the total income and outgo for the Minister’s triathlon and hence determine the overall profit or loss. [2]  \n(x) Illustrate the total income, outgo and profit or loss from part (ix) using a single chart. [2]  \n(xi) Repeat the calculations in parts (iii),(iv),(v),(viii) and (ix) in order to determine anew λ parameter for the swim stage such that the event makes a zero (or close to zero) profit. [3]  \n(xii) Calculate the percentage change in swim times needed for the event to make a zero (or close to zero) profit. [1]  \nMarks available for spreadsheet model and checks:  \nAccurate completion of above modelling steps and data checks [33]  \nDemonstration of good modelling technique and practice [7]  \nOther (non-data) checks [7]  \n[Sub-total 47]  \n3. Produce an audit trail for your spreadsheet model which includes the following aspects:  \n􀁸 purpose of the model  \n􀁸 data and assumptions used  \n􀁸 methodology, i.e. description of how each calculation stage in the model has been produced  \n􀁸 explanation of the checks performed  \nYou should ensure that your audit trail is suitable for both a senior actuary, who has been asked to approve your work, and a fellow student, who has been asked to peer review and correct your model, or to continue work on it, or to use it again for a similar","cbCaid0DnmtQQLHe","https://ap.wps.com/l/cbCaid0DnmtQQLHe","pdf",524073,"English","# Instructions to the candidate\n# Exam requirements\n## Spreadsheet model calculations and charts\n## Audit trail for the spreadsheet model\n# Background: Minister’s triathlon event\n# Charity triathlon","[{\"question\":\"What modelling tasks must be completed in the spreadsheet model?\",\"answer\":\"The paper requires validating competitor data, calculating speeds and expected speeds, computing expected times and overall times, determining expected finish positions, producing summary statistics and charts, calculating prize money, and evaluating total income/outgo and overall profit or loss. It also requires recalculating a λ parameter for the swim stage and the percentage swim-time change to reach zero (or near-zero) profit.\"},{\"question\":\"What data and scenario information is provided to support the model?\",\"answer\":\"A background document describes the scenarios that must be modelled and documented. The charity triathlon results for the 30 registered competitors are provided in an Excel spreadsheet included in the booklet.\"},{\"question\":\"What must the audit trail include?\",\"answer\":\"The audit trail must state the purpose of the model, list data and assumptions, describe the methodology for each calculation stage, and explain the checks performed. It should be suitable for a senior actuary’s approval and a fellow student’s peer review.\"}]","INSTITUTE AND FACULTY OF ACTUARIES - Curriculum 2019 - SPECIMEN EXAMINATION - Subject CP2 - Actuarial Modelling - Paper One | PDF",1790490964,23]