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

Rahul Deshmukh, a Fellow actuary, signs off a reserving report for a general insurer in Pune. His only learning during the year was reading a newspaper business section, which he considers sufficient CPD. Which assessment is most consistent with how CPD is viewed by a profession such as the actuarial profession?

His approach is unacceptable because CPD should be relevant to the actuary's work and development needs, and should be planned and recorded. Casual general reading does not show a structured effort to maintain competence, and responsibility rests with the member, not only the employer.

  1. AAcceptable, because any reading at all counts as CPD regardless of relevance
  2. BAcceptable, because CPD is only required for actuaries who are not Fellows
  3. CUnacceptable, because CPD must be relevant to the member's work and development needs, and be planned and recorded rather than incidentalCorrect
  4. DUnacceptable, because CPD can only be earned by attending paid courses run by the Institute
  5. Acceptable, because only the employer, not the member, is responsible for CPD

Explanation

Effective CPD is relevant to the member's role, reflects on learning needs and is recorded. Incidental general reading does not demonstrate this. Option 3 is wrong because CPD may come from many activities, not only Institute courses.

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