Iran Official Insurance Actuary Exam study guide
Iran Official Insurance Actuary Exam · Work through your exam, one topic at a time.
The Iran Official Insurance Actuary Exam (آزمون رسمی اکچوئری بیمه ایران) is the professional credential examination for actuaries practising in the Iranian insurance market. It is intended for graduates in actuarial science, mathematics, statistics or related fields who wish to work as actuaries in insurers, reinsurers, the regulator (Bimeh Markazi Iran) or pension and social security institutions. The Iran Official Insurance Actuary Exam study guide has 9 sections and about 2,816 words.
01Probability and Mathematical Statistics
This domain tests the probability and statistical machinery behind every later pricing and reserving calculation: distribution theory, transforms, limit theorems, point estimation and hypothesis testing. Items are short and computational rather than proof-based, so speed with standard results matters more than derivations.
306 words, about 2 min02Financial Mathematics
Financial Mathematics tests the time-value toolkit actuaries apply to reserves, premiums and asset-liability work: accumulation and discounting, annuity and bond valuation, the term structure of interest rates, and interest-rate risk measures. Force of interest δ(t) links continuously to accumulation: A(t) = A(0)exp(∫δ).
315 words, about 2 min03Life Contingencies and Actuarial Mathematics
This domain examines life-table mechanics and the valuation of life insurance and annuities: commutation-style relationships, fractional-age assumptions, reserves, and premium structures, using the mortality basis approved for Iranian insurers' reserve calculations. From l x: d x = l x − l {x+1}, p x = l {x+1}/l x, q x = d x/l x, and the curtate expectation e x = Σ {k≥1} kp x.
347 words, about 2 min04Non-Life Insurance Mathematics and Credibility Theory
Non-life questions cover frequency-severity modelling, experience rating and IBNR estimation. In the Iranian market, compulsory motor third-party rates are still heavily influenced by tariff decisions, so credibility and trend adjustments to class rates are examined as practical, not purely theoretical, tools.
309 words, about 2 min05Risk Theory and Ruin Probability
Risk theory tests collective risk models and the probability that an insurer's surplus ever falls below zero: the compound Poisson surplus process, the adjustment coefficient, Lundberg bounds, and modern risk measures. Surplus U(t) = u + ct − S(t), with S(t) compound Poisson (rate λ, claim distribution X).
282 words, about 1 min06Insurance Economics and Principles of Insurance
This domain tests why insurance exists and how markets and contracts behave: risk aversion and willingness to pay, the principle of indemnity, moral hazard, adverse selection and market equilibrium, and the economics behind compulsory cover such as Iranian motor third-party liability. Risk-averse agents have concave utility; the maximum premium equals the certainty equivalent.
318 words, about 2 min07Iranian Insurance Regulation and Social Security Law
This domain tests the legal architecture of Iranian insurance and social insurance: the Insurance Act of 1937 (1316), the 1971 law establishing the Central Insurance of Iran (Bimeh Markazi) and its supervisory powers, the High Council of Insurance, the 2016 compulsory motor third-party liability law, and the Social Security Act of 1975 (1354). The Central Insurance of Iran supervises insurers, approves tariffs and policy wordings in regulated lines, and enforces technical reserve and solvency rules.
301 words, about 2 min08Accounting, Investment and Asset-Liability Management for Insurers
This domain tests statutory insurance accounting, reserve recognition, and the management of assets against liabilities: unearned premium and outstanding claim reserves, invested-asset rules, and duration-based interest-rate risk control. Premium income is earned over the policy period.
307 words, about 2 min09Professional Ethics and Actuarial Practice Standards
This domain tests how an actuary behaves when technical work meets commercial pressure: integrity, objectivity, competence, confidentiality, clear reporting, and the discipline of documenting assumptions so that another actuary could reproduce the result. Actuarial advice must be objective and independent of the interests of the employer or client; advocacy for a predetermined number is a breach.
331 words, about 2 min