CAS Exam 5

The CAS navigation labels the exam page "exam-5-basic-ratemaking-and-est-claim-liabilities," so the two content areas are basic ratemaking and estimating claim liabilities. Expect ratemaking topics such as loss costs, expenses, trend, credibility, and classification ratemaking, and reserving topics such as development techniques and expected-loss methods. Confirm the detailed syllabus on the CAS site.

Not confirmed here. The CAS exam pages returned "Page not found" when retrieved, so question count and time limit are unavailable from the source. Do not rely on remembered figures from earlier sittings, since exams are revised. Check the current CAS syllabus and exam schedule for the authoritative numbers before you plan your timing practice.

Unavailable from the retrieved source, which returned "Page not found" for the exam pages. Passing scores and fees are set by the CAS and can change between sittings. Consult the CAS exam fees page and past exams and pass marks page directly rather than any third-party summary, including this one.

The CAS navigation lists Exam 5 under "ACAS Exams," alongside Exam 1 and 2, Exam MAS-I, Exam MAS-II, the CAS DISCs, and the Course on Professionalism. The FCAS group lists Exams 7, 8, and 9. So Exam 5 belongs to the Associateship stage, before the fellowship exams.

Candidates generally find it a step up because it rewards calculation fluency and clear written assumptions rather than recognition. Ratemaking and reserving problems often chain several steps, so one early error propagates. Build speed on standard calculations first, then practice explaining method choices in writing, since partial credit depends on visible work.

Neither order is mandated. A practical approach is to alternate: ratemaking gives you loss cost and trend mechanics, while reserving gives you development patterns and expected loss methods. The two share underlying data concepts, so alternating reinforces both. Finish with mixed sets that force you to identify which method a question is asking for before calculating.

Typical causes: skipping the assumption statement so graders cannot award partial credit, mixing incurred and paid bases mid-calculation, forgetting to restate trend or development to a common cost level, and running out of time on long multi-part questions. Practice writing short, labeled steps and check units and periods before finalizing each answer.

The retake policy is not stated in the retrieved source, which returned "Page not found" for the exam pages. Retake rules, sitting frequency, and any waiting periods are set by the CAS and are subject to change. Confirm the current policy through the CAS candidate FAQ and exam registration pages before assuming a schedule.

Use the CAS site directly: the Exam 5 page linked from the ACAS Exams navigation, the exam fees page, the exam schedule, the candidate FAQ, and past exams and pass marks. This page is independent study material, is not affiliated with or endorsed by the CAS, and does not state official figures where the source was unavailable.