Skip to content

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

Rohan, a newly qualified Associate of the Institute of Actuaries of India working at a Mumbai life insurer, asks his manager why he must record Continuing Professional Development (CPD) each year. Which response best describes the main purpose of CPD for a professional actuary?

The main purpose of CPD is to keep an actuary's knowledge and skills current so that their work stays competent for the roles they perform. It supports public trust in the profession and does not replace the Code, peer review or grade progression.

  1. ATo keep his knowledge and skills up to date so that his work remains competent for the roles he performsCorrect
  2. BTo earn credit that exempts him from the Actuaries' Code once he has recorded enough hours
  3. CTo replace the need for any peer review of his work by senior colleagues
  4. DTo qualify automatically for promotion to Fellow after a fixed number of years
  5. To allow the employer to reduce the firm's own training budget

Explanation

CPD exists so that members maintain and develop competence relevant to their work, which supports the public interest and the profession's standing. It does not exempt anyone from the Code, replace peer review, or confer a higher membership grade.

Did you get it right without looking?

One question tells you little. A timed set on Activities of the Institute of Actuaries of India shows your real accuracy, how long you take and where you lose marks.

Practise Activities of the Institute of Actuaries of IndiaFree diagnostic mock

More Activities of the Institute of Actuaries of India questions