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IAI CS1 study materials
IAI CS1 study resources

IAI CS1 study guide

IAI CS1 · Work through your exam, one topic at a time.

CS1, Actuarial Statistics, is a Core Principles subject in the Institute of Actuaries of India (IAI) actuarial examination system. The IAI is a statutory body established under The Actuaries Act 2006 (35 of 2006) for regulation of the profession of Actuaries in India. CS1 is aimed at candidates who have entered the IAI actuarial pathway - typically through ACET or the Non-ACET (Direct Entry) route - and who need a rigorous grounding in probability and statistical methods before moving to more specialised subjects. The subject covers the statistical foundations used throughout actuarial work: probability distributions, random variables, generating functions, sampling distributions, estimation, hypothesis testing, regression and related modelling ideas. It is a mathematical subject, so preparation should be built around the official IAI syllabus and past question papers and solutions, both available from the IAI website. A sensible approach is to work through the syllabus topic by topic, attempt the corresponding past-paper questions under timed conditions, and keep a log of recurring error patterns. Topics on this exam: Actuarial Statistics (CS1). The IAI CS1 study guide has 1 section and about 484 words.

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Actuarial Statistics (CS1)

CS1 Actuarial Statistics tests whether you can turn an insurance problem into a probability model, fit it, and interpret the output. Questions mix derivation, computation and explanation, so show why a formula applies, not just the formula. Know when to use the pgf G(z)=E[z^X], the mgf or the cgf, and how each behaves for sums of independent variables. For aggregate claims S=ΣX i with N independent of the X i: E[S]=E[N]E[X] and Var(S)=E[N]Var(X)+Var(N)E[X]^2; use Panjer recursion when N is Poisson, binomial or negative binomial and severities are lattice-valued.

484 words, about 2 min

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