Command Verbs - IFoA exam Flashcards
Define
Give the exact meaning of.
Describe
Express, fully and clearly, the details or facts of. e.g. Describe the benefits payable under a term assurance policy.
Draw
Produce a representation of…a diagram, graph, chart etc. e.g. Draw a diagram to illustrate the profit-maximising price.
Label
Attach a name to unidentified terms …on a graph, chart, diagram, table. e.g. Label the axes.
List
Make a list of. e.g. List the Technical Actuarial Standards issued by the Financial Reporting Council.
State
Express the details or facts of…. without elaboration. e.g. State the principles of investment.
Write Down
Provide exactly what has been asked for, without explanation or elaboration.
Calculate
Ascertain or reckon mathematically.
Construct
Produce what has been asked for, with appropriate structure. e.g. Construct a table showing….
Demonstrate
Prove with certainty or exhibit by practical means.
Derive
Develop a result from first principles or from the given starting point ,
Describe
Express, fully and clearly, the details or facts of. e.g. Describe the risks arising under a specific given scenario.
Determine
Find the solution by argument or calculation, making clear your reasoning. e.g. Determine the type of event that has occurred, based on the data provided.
Draft
Produce a document in the specified format e.g. report, letter, etc. Note: Draft applies to assessments for CP3 only.
Draw
Produce a representation of…a diagram, graph, chart etc. e.g. Draw a scatterplot.
Explain
Make clear the meaning or purpose or details of, or the justification for.
Express
Write down the result in the specified terms.
Fit
Choose and implement a model or distribution that determines a relationship between observed values in a population and the expected values from the model or distribution. e.g. Fit a generalised linear model to the data.
Give
Write down what has been asked for, without elaboration. e.g. Give an example of….
Label
Attach a name to unidentified terms …on a graph, chart, diagram, table. e.g. Label the curves which correspond to each of the given scenarios.
List
Make a list of. e.g. List the assumptions or rating factors that would be required to price this product.