CNSF Actuario Daños study plan

Derive and apply the collective risk model (compound Poisson, Panjer recursion) to compute aggregate loss distributions by hand for small portfolios

Distinguish frequency distributions (Poisson, negative binomial, binomial) and select the appropriate one for overdispersed claim counts using variance-to-mean diagnostics

Fit severity distributions (lognormal, gamma, Pareto, Weibull) to a sample of claim amounts and estimate parameters by maximum likelihood, interpreting tail behavior

Explain the effect of deductibles, policy limits and coinsurance on the severity distribution and compute limited expected values

Compute VaR and TVaR for fitted loss distributions and compare their behavior in the tail

Apply credibility theory (Bühlmann, Bühlmann-Straub) to blend portfolio and insured experience

Estimate loss trends and apply trend factors to frequency and severity separately, documenting assumptions

Build a frequency-severity simulation in a spreadsheet or script and validate output against analytic results

Construct a gross rate for a commercial property or liability line from pure premium, expense load, profit and contingency margin, and verify the balance equation

Differentiate rating variables that are actuarially justified from those that create unfair discrimination risk

Calculate incurred-but-not-reported (IBNR) reserves using chain-ladder and Bornhuetter-Ferguson on a development triangle, and reconcile the two estimates

Identify reserve adequacy indicators and describe how case reserves, IBNR and ULAE interact in the technical reserve

Map the key obligations of the Ley de Instituciones de Seguros y de Fianzas (LISF) and Circular Única de Seguros y Fianzas to actuarial practice areas (pricing, reserving, solvency, reporting)

Explain the structure of the régimen de solvencia: required solvency capital, minimum paid-in capital, and the calculation bases for each

Describe the role of the Comisión Nacional de Seguros y Fianzas (CNSF) in authorization, supervision and intervention

Outline the requirements and governance expectations of the external actuarial audit and the responsible actuary figure

Compute the required solvency capital for a sample daños portfolio under the regulatory formula and compare it to economic capital from a VaR approach

Apply proportional, excess-of-loss and stop-loss treaties to a loss sample and quantify ceded losses, retained losses and reinsurance recovery

Explain the effect of reinsurance on solvency capital, reserve credit and counterparty risk under the regulatory framework

Draft the core elements of an ORSA narrative: risk appetite, own risk assessment, capital projection and stress scenarios

Identify the risk categories of the enterprise risk management (ERS) framework and assign at least two concrete daños-specific risks to each

Build a risk register with likelihood, impact, mitigation and owner for a hypothetical insurer

Evaluate investment portfolio constraints for technical reserves: matching of duration and currency, eligible assets, diversification and liquidity limits

Compute duration, modified duration and convexity for a sample bond portfolio and interpret interest-rate sensitivity

Apply the professional code of conduct to three realistic dilemmas (conflicting data requests, pressure to understate reserves, use of confidential information) and justify the chosen action

Draft the sections of a quarterly regulatory report: reserve movements, solvency position, reinsurance program and variance explanations

Translate technical results into a one-page executive summary for a non-actuarial board audience without losing accuracy

Identify the documentation and audit-trail standards expected for actuarial assumptions and model changes

Consolidate weak areas by re-solving missed problems from weeks 1-7 under timed conditions

Complete two full-length timed practice sets spanning all ten domains and record accuracy by domain

Review the regulatory and ethical content most likely to be tested in short-answer form

Build a personal formula and definitions sheet limited to what can be recalled in the exam