IAI CS2

Candidates working through the IAI actuarial exams who have the earlier mathematical and probability subjects behind them. It suits people aiming at life, health, general insurance or risk roles where survival analysis and regression modelling are used daily. If your likelihood and matrix algebra are shaky, fix those first.

The Institute delivers CS2 using a combination of multiple-choice and written-answer questions. The exact structure, number of questions and marks allocation are set by the Institute of Actuaries of India and published in its current syllabus and exam guidance, so check the Institute's website rather than relying on second-hand descriptions.

Duration, fees and session timings are administrative details set by the Institute of Actuaries of India and can change between sittings. The Institute publishes the current figures on its official website and in the exam handbook. Confirm there before planning your travel or budget, and re-check when you register.

Most candidates find it a step up, not because any single idea is hard but because it combines theory, computation and interpretation. The Cox model, GLMs and Bayesian computation each reward genuine understanding over memorisation. Expect to spend substantial time on R practice; candidates who only read notes often stall on applied questions.

Retake rules, including any limits on attempts and the sittings available, are set by the Institute of Actuaries of India. The Institute's website and student handbook carry the current policy. Note that a fail usually signals a specific gap, such as weak GLM diagnostics or slow written derivations, so diagnose before re-booking.

Survival models first, since everything else depends on the lifetime distribution vocabulary. Then estimation and graduation, then regression models for survival data. GLMs can run in parallel once you are comfortable with likelihood. Bayesian methods come last, because they reuse the GLM and survival frameworks. Keep R open throughout.

Enough to fit and interpret models confidently: survival objects, Kaplan-Meier and Cox fits, parametric survival models, glm with the main families and link functions, and basic Bayesian computation. You should be able to read summary output, check residuals and explain what a coefficient means. Practice on real or simulated datasets rather than toy one-liners.

Three recurrences: quoting a formula without stating assumptions, fitting a model in R but failing to interpret the coefficients in context, and running out of time on written derivations because they never practised under exam conditions. A fourth is ignoring model checking, which examiners reward explicitly. Write assumptions down even when not asked.

Only from the Institute of Actuaries of India. Its website publishes the current syllabus, reading list, exam timetable, fees and result dates. This page is independent study material and is not affiliated with or endorsed by the Institute, so treat any figure you see elsewhere as unverified until you confirm it at the source.