How many and what are the tests for actuarial sciences?
- Sunday Nov 8,2009 10:40 PM
- By diddy
- In Others
I was looking into actuarial sciences, and I was wondering how many tests there were in all, and what they are. Thank you.
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One Comment
Preliminary Actuarial Examinations administers the jointly sponsored Exams 1/P, 2/FM, 3F/MFE, and 4/C of the Canadian Institute of Actuaries, Casualty Actuarial Society, and the Society of Actuaries. Information about these exams is provided below.
Exam 1/P - Probability
The examination for this course consists of three hours of multiple-choice questions offered through Computer-Based Testing. The purpose of this course is to develop a knowledge of probability. The application of these tools to problems encountered in actuarial science is emphasized. A thorough command of calculus and probability topics is assumed. Additionally, a very basic knowledge of insurance and risk management is assumed.
Exam 2/FM - Financial Mathematics
The examination for this course consists of three hours of multiple-choice questions offered through Computer-Based Testing. This course covers interest theory (discrete and continuous). It assumes a basic knowledge of calculus and probability.
Exam 3F/MLC - Financial Economics
The examination for this course consists of two-and-a-half hours of multiple-choice questions. This course covers interest rate models, rational valuation of derivative securities, simulation, and risk management techniques.
Exam 4/C - Construction and Evaluation of Actuarial Models
The examination for this course consists of three and a half hours of multiple-choice questions offered through Computer-Based Testing.
The CAS Syllabus of Basic Examination and the Education Area of the SOA Web site contain descriptions of the education and examination system for the Preliminary Actuarial Examinations.
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