IAI CP1 Practice Questions - IAI Subject CP1 Actuarial Practice Exam

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When giving actuarial advice, an actuary should distinguish between 'factual', 'advisory' and 'recommendation' content primarily because:

Regulators ban recommendations Factual statements never need evidence Advice and recommendation mean the same thing The client must understand what is objective versus where judgement and a preferred course of action are being applied

Correct Answer:

The client must understand what is objective versus where judgement and a preferred course of action are being applied

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