CB3 Exam Structure

CB3 Exam Structure no text

CB3 Exam Structure

The registration process will be on First Come First Served Basis and the batch will be open for all students to register.

How frequently will be the CB3 course conducted?

CB3 online examination will be conducted twice in a year. The decision to run any exam will depend upon sufficient students registering. Institute of Actuaries of India reserves the right to cancel an exam should insufficient numbers apply.

Examination Explained

  • Login details: You will be given Login ID and password wherein the study material & case studies will be made available to study online for the examination. CB3 Study Material will be avaialbe only in windows platform.
  • Business Game: Business game will be scheduled for 10 days for all the students.
  • 7 Exercises/Case Studies: Once login details are received by you, you need to download the 7 Exercises/Case studies which you are required to complete & submit on the date specified while registration.
  • Online Examination: There will be an online examination which will be made available to you under your login access. It will be a two hour examination.

You need to pass this exam in order to pass CB3, demonstrating that you understood the principles covered in the online tutorials and the business game.

The Business Simulation Game

An integral part of the CB3 course is a Business Simulation Game facilitated by Elgood Effective Learning. Students take on the role of Directors of a furniture business and are given the task of improving the companys financial performance (measured by Share Price). Students will be working in small groups and need to:

  • Analyse and assess the current competitive environment (A player briefing document is provided at the start of the activity).
  • Develop a strategy for their business.
  • Implement that strategy within a pre-defined framework.
  • Review their performance against expectations and make adjustments to reflect the new competitive landscape.

The students are allocated to a team by IAI and are responsible for allocating a team coordinator, who is responsible for entering the teams decisions on-line and circulating the teams results. The team must also decide how to work together to make their decisions using email, phone calls or setting up their own groups to collaborate.
The Simulation Game lasts for a period of ten working days and within this period there are four decisions periods, each representing a half year for the business. In each period the students are provided with the current financial and market situation, which along with their chosen strategy forms the basis for their debate and decision making. The decision periods occur every few days. The schedule for these is provided in advance and sits alongside the other elements of the CB3 course. Once a team have made their decisions for a period the team coordinator enters them online and once processed an email is sent to the coordinator who downloads and circulates the results to all team members.

Participation within the Simulation Game provides students with an opportunity to:

  • Use some of the theory offered within the CB3 course (strategic thinking) and other courses (communication).
  • Develop their business acumen skills by taking decisions in a competitive business environment.
  • Assess their own skill levels; particularly with regards to business analysis and team participation.

It is not necessary to take leave from office for working professionals

If you have any queries about Examination please email us at exam@actuariesindia.org

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