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IAI Actuarial Core Principles · Business Management · Activities of the Institute of Actuaries of India

Meera is a Fellow actuary who has moved from pricing health insurance to advising on a reinsurance treaty, an area she has never worked in. Her CPD plan so far covers only health pricing topics. Which action is most consistent with a sound approach to CPD and the Actuaries' Code?

Meera should review her development needs against her new reinsurance role, add relevant learning and record her reflection. CPD is about relevance to current work, not just hours, and a qualification alone does not prove competence in a new area.

  1. AContinue the existing plan, because CPD is judged on hours completed rather than relevance
  2. BReview her development needs against the new role and add learning on reinsurance, recording the reflectionCorrect
  3. CDecline all reinsurance work permanently, since a member may never change practice area
  4. DRely on her Fellowship qualification as proof of competence in any area
  5. Ask a junior colleague to complete the CPD activities on her behalf

Explanation

Sound CPD is relevant to the member's current and planned work, so a change of role calls for reassessing needs and addressing gaps. Counting hours regardless of relevance, relying on past qualification, or delegating the learning does not demonstrate competence. Members may change areas provided they acquire the competence.

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