Iran Official Insurance Actuary Exam cheat sheet

Professional Ethics and Actuarial Practice Standards

• Actuarial standards require integrity, competence, objectivity, and confidentiality; an actuary must not issue an opinion outside their area of qualification.

• Communications must disclose data sources, methods, assumptions, and material limitations so that a qualified reader can judge the result.

• Conflict of interest must be disclosed and managed; the actuary's duty is to the public interest and to the profession, not solely to the client.

• False or misleading representation of actuarial credentials, or signing work performed by unqualified persons, is a disciplinary offence.

• Peer review and documentation of models, assumptions, and changes support transparency and reproducibility of actuarial opinions.

• When a material error is discovered in prior work, the actuary must correct or disclose it promptly to affected parties rather than conceal it.

• Use of another actuary's work requires verification of its appropriateness; responsibility cannot be delegated by relying on unexamined data.

• Continuing professional development and adherence to the code of conduct are conditions of maintaining actuarial membership and practice rights.