CAA Fellow Actuary (China) study plan

Derive and apply the collective risk model (compound Poisson frequency-severity aggregation) to compute the mean, variance, and probability of ruin for a small portfolio in a timed exercise

Compute aggregate claim distributions using Panjer recursion and normal/Panjer approximations, and compare the accuracy of each method on a worked problem

Solve surplus-process problems involving safety loading, adjustment coefficient, and Lundberg bounds, and explain what each quantity means economically

Build a one-page formula sheet for Domain 1 covering ruin theory, premium principles, and frequency-severity notation, with each formula justified in one sentence

Apply individual risk models and credibility theory (Bühlmann, Bühlmann-Straub) to estimate pure premiums from multi-year experience data

Estimate loss reserves using chain-ladder and Bornhuetter-Ferguson methods on a triangle you construct yourself, and reconcile the two estimates

Explain how reinsurance treaties (quota share, surplus, excess of loss) change the cedent's retained severity and frequency distributions

Compute risk margins and on-level premium adjustments for a non-life portfolio, showing each step

Price a non-life product using frequency-severity, expense loading, and target combined ratio, then test sensitivity to a 20% change in loss trend

Calculate gross and net premium reserves for a life policy using the prospective and retrospective methods, and prove they agree at the valuation date

Compute net premium reserves for term, whole life, and endowment products under varying mortality and interest assumptions, and interpret the reserve pattern

Explain how morbidity assumptions and claim incidence rates drive health insurance pricing and reserve adequacy

Analyze a participating life product's profit signature, including mortality, lapse, expense, and investment return margins, and identify which assumption drives the result most

Build a simple economic capital calculation for a life portfolio using a stress-test approach on mortality and interest rate shocks

Map the insurer's risk taxonomy to capital charges and explain how diversification benefit arises across risk modules

Compute solvency capital requirements under a factor-based approach and compare with an internal-model style stress result

Calculate accrued pension liabilities and normal cost for a defined benefit plan using the projected unit credit method, and show the effect of a 1% change in discount rate

Compare defined benefit and defined contribution designs on risk allocation, and articulate the social insurance financing implications of each

Compute duration, modified duration, and convexity for a bond portfolio and use them to immunize a liability stream against small interest rate shifts

Explain how asset-liability management matches cash flows and duration for a life insurer with long-tailed liabilities

Prepare the key lines of an insurer's balance sheet and income statement under Chinese accounting standards and identify where actuarial reserves appear

Explain the treatment of acquisition costs, deferred acquisition cost amortization, and reserve strengthening in reported profit

Summarize the core obligations of the Insurance Law and the regulatory solvency framework applicable to Chinese insurers, citing the governing principle rather than article numbers you cannot verify

Apply the actuarial professional code of conduct to three ethical dilemmas (conflicting assumptions, pressure on reserves, disclosure of model limitations) and justify the recommended action

Construct an ERM framework diagram linking risk appetite, limits, controls, and reporting, and identify the governance owner for each element

Design and document an actuarial model with stated purpose, assumptions, data validation, and sensitivity testing, following model-risk standards

Critique a poorly documented model output and rewrite the communication for a non-technical board audience in plain language

Interpret statistical output (regression coefficients, confidence intervals, goodness of fit) and state what conclusions are and are not supported

Complete two full-length timed mock exams under exam conditions and score them by domain to confirm the front-loaded domains are now strengths

Re-solve every logged error from weeks 1-7 and confirm each is resolved without notes

Consolidate the formula sheets into a single condensed reference and rehearse recalling it from memory

Identify the two weakest remaining sub-topics and complete a targeted 90-minute drill on each