SP2

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SKU: N/A Category: Actuaries

About Course

SP2 – LIFE INSURANCE PRINCIPLES

Area	Description
Introduction	Life Insurance Principles (SP2) provides an introduction to the main principles and knowledge required in life insurance, and how these principles can be applied in simple scenarios.
Aim	To develop a student’s ability to apply, in simple situations, the main principles of actuarial planning and control that are relevant to the provision of life insurance business.
Outcome	Builds on material covered in earlier subjects and equips a student with the skills and broad working understanding of life insurance business to the level that may be required of a qualified actuary in a life insurance company.
Next Step – SA2	Life Insurance Specialist Advanced (SA2) further develops the principles from SP2, providing a more in-depth understanding. It considers in much more detail the environment in which a life insurance company operates, including life insurance markets, regulation, legislation, taxation, financial management, monitoring and strategies.

Detail	Information
Assessment Duration	3 Hours 20 Minutes

Skill Type	Weightage
Knowledge	25%
Application	50%
Higher Order Skills	25%
In the SP subjects, the approximate split of assessment across these three skill types is 25% Knowledge, 50% Application and 25% Higher Order Skills.

Why TAJ

#	Feature	Details
1	Experienced corporate faculties	With 13–14 exams cleared to make you understand the application of knowledge contained in the subject.
2	Classes available in all 3 modes	Classroom, Live Online and Videos.
3	Multiple small batches	To focus on personal interaction and development.
4	Regular assignments and feedback sharing	To discuss your improvement areas.
5	Detailed study plan and chapter-wise important topics	With detailed descriptions and main highlights.
6	Exclusive writing and discussion sessions	Oriented towards case studies and past paper discussions.
7	Regular doubt classes	To help you learn technical skills and clear your conceptual knowledge.
8	Writing & discussion sessions – our USP	It’s not only about writing, it’s about what to write and how much to write – taken by the All India ST4 Topper.
9	Handwritten notes	For each and every chapter.

Area	Coverage
Aim	To develop a student’s ability to apply the main principles and techniques of actuarial management and control that are relevant to life insurance.
Overview	Builds on material covered in earlier subjects to cover the key principles of life insurance.

Detail	Information
Exam	3 hours and 20 minutes
Calculator	A scientific calculator is allowed in the exam. However, you can use only one of the models from the list below. This can also be used for future exams.

#	Allowed Calculator Model	Note
1	Casio FX82 (ES/MS)	With or without any suffix
2	Casio FX83 (ES/MS)	With or without any suffix
3	Casio FX85 (ES/MS)	With or without any suffix
4	Sharp EL531	With or without any prefix or suffix
5	Texas Instruments BA II Plus	With or without any suffix
6	Texas Instruments TI-30	With or without any suffix
7	Hewlett Packard HP12c	With or without any suffix

#	Topic	Weightage
1	Life Insurance Products and General Business Environment	15%
2	Product Design and Specific Features	25%
3	Risks and Risk Management	30%
4	Models and Valuation	15%
5	Monitoring Experience and Setting Assumptions	15%

Skill Type	Weightage
Knowledge	25%
Application	50%
Higher Order Skills	25%
In the SP subjects, the approximate split of assessment across these three skill types is 25% Knowledge, 50% Application and 25% Higher Order Skills.

About Faculty

Faculty	Mrs. Silky Goyal
Background	Coming straight from the industry and now at a place where her heart lies.
Founder	A visionary on the path of becoming an actuary, she laid the foundation of The Academic Junction.
Teaching Style	Corporate experience combined with on-job training helps her blend real-life experiences with theoretical concepts, making theory subjects practical and more interesting.
To know more about our faculty – Click on LinkedIn Profile