CP2: Modelling Practice (Completely in English)

Learn how to build, document, and communicate actuarial models the professional way.

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Unlike typical coaching, TAG’s approach is logic and intuition first — you’ll learn why models are built a certain way, not just how to do them.

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About CP2: Modelling Practice

Exam Format: IFoA vs IAI

The CP2 exam structure differs slightly depending on the institute:

  • IFoA: Consists of Paper 1 and Paper 2. Both papers are 3 Hours 20 Minutes long. Paper 1 requires an Audit Trail in MS Word, while Paper 2 requires a Summary in MS Word. Both use MS Excel for modelling.
  • IAI: Consists of Paper A and Paper B. Both papers are 3 Hours 15 Minutes long. Unlike the IFoA, both the Audit Trail (Paper A) and Summary (Paper B) must be done entirely within MS Excel.
Important IAI Exam Restrictions
  • You must achieve an overall 50% pass mark, plus a minimum of 30% in both Paper A and Paper B individually.
  • Function Keys (F1 to F12) are disabled.
  • Alt+Tab is disabled.
  • Right-Click is disabled.

Context & Mark Distribution

Both papers carry equal weightage (50% each), but test different skill sets:

Paper Objective Mark Breakdown
Paper 1 / Paper A Check data and build a model for a fellow student & senior actuary. Tests EDA, modelling, and documentation skills.
  • Model & Data Checks: 30-35 Marks
  • Reasonableness Checks & Good Modelling Practice: 7-10 Marks
  • Audit Trail: 55-60 Marks
Paper 2 / Paper B Complete or improve a fellow student’s model and write a standalone summary document for a senior actuary. Tests model understanding, interpretation, and communication.
  • Model Improvements: 15-20 Marks
  • Summary Document: 80-85 Marks

How to Crack CP2

Students typically face three main challenges with CP2: Model Building, Documentation, and Time Management. Our course tackles these head-on with a structured preparation strategy:

  • Go through video lectures to cover all core concepts.
  • Follow our dedicated Paper-wise guidance lectures.
  • Attempt the exam yourself, then watch our past-paper solution lectures.
  • Review at least 2 past paper solutions for IAI/IFoA.
  • Solve at least 6 papers under strict exam conditions.
  • Review all IAI/IFoA exam questions from 2019 onwards.