Definitive Guide to SP1 (Health and Care Principles)

The Health and Care concepts course aims to equip successful candidates with the skills necessary to apply the key actuarial planning and control concepts that are pertinent to the provision of health and care benefits in straightforward settings.

The Health and Care concepts subject seeks to develop in successful candidates the capacity to apply, in straightforward circumstances, the fundamental actuarial planning and control concepts that are pertinent to the provision of health and care benefits.

A candidate will be able to: 

1. grasp the key concepts and methods of actuarial management and control that are pertinent to health and care insurance after successfully completing this course.
2.  apply these ideas to straightforward circumstances in the context of health and care insurance.
3.  examine fictitious situations, including exercising judgement to determine the effects of potential course of action and to create suitable proposals or recommendations pertaining to the administration of the health and care insurance industry.

1. CS2 – Actuarial Statistics 2 
2. CM1 – Actuarial Mathematics 1 
3. CP1 – Actuarial Practice 
4. SA1 – Health and Care Advanced

Syllabus topics 

Health and care products and general business environment (15%) 

 Product design and specific features (25%) 

 Risks and risk management (30%) 

 Models and valuation (15%) 

 Monitoring experience and setting assumptions (15%)

These weightings represent the averaged over several examination sessions approximate balance of the evaluation of this subject amongst the major syllabus topics. The weightings correspond to the number of learning materials that each syllabus topic requires. The relative complexity of each topic, and consequently the amount of justification and support needed for it, will also be reflected in this.

• The depth of prior knowledge that is anticipated; 
• The requirement to give comprehensive foundation understanding on which to build the other objectives.
• How much of each subject is knowledge- versus application-based.

Skill levels

The use of a certain command verb in a syllabus objective does not imply that this is the only way to enquire about the subject matter covered by that objective. The Examiners may use any of the authorised command verbs, which are detailed in the document “Command verbs used in the Associate and Fellowship written examinations,” to ask a question about any topic covered by the curriculum.

Any skill level may be represented by a question, including Knowledge (demonstration of thorough knowledge and understanding of the topic), Application (demonstration of the ability to apply the guiding principles of the topic within a given context), and Higher Order (demonstration of the ability to perform more in-depth analysis and assessment of situations, including making judgements, accounting for different points of view, comparing and contrasting situations, and suggesting solutions).

25% Knowledge, 50% Application, and 25% Higher Order skills are roughly the three skill types assessed in the SP disciplines.

Exam Fees:

Exam dates:

Timetable – May 2023 Examination

Thursday 18th May – Saturday 27th May 2023

Exam centre: