1-STATISTICAL MODELLING (covers 100% of 101 IoA)

Aim: To provide a grounding in probability and mathematical statistics.

	Summarizing Data
	Random variables, Generating Functions, Joint Distributions
	Methods and properties of estimation & Sampling
	Central Limit Theorem
	Correlation and Regression Analysis
	Hypothesis testing and confidence limits
	Analysis of Variance
	Hours: 18 hrs Phase I, 7.5 hrs Phase III

2-FINANCIAL MATHEMATICS (covers 100% of 102 IoA)

Aim: To provide a grounding in the techniques of financial mathematics and their applications.

	Interest, yield, discount and other financial calculations (annuities & loan schedules)
	Pension valuation and Investment risk and Project Appraisal
	Market models – e.g. term structure of interest rates and cash flow models and stochasting interest rate models.
	Hours: 18 hrs Phase I, 7.5 hrs Phase III

3-SURVIVAL MODELS (covers 50% of 104 IoA)

Aims: To provide a grounding in survival models and their simple applications

	Survival models and Life Tables
	Selection and Anti-selection
	Simple applications in Assurance and Annuities
	Exposure to Risk
	Premiums and Reserves
	Hours: 12.5 hrs Phase I, 6.25 hrs Phase III

4-ACTUARIAL MATHEMATICS 1 (covers 65% of 105 IoA)

Aims: To provide a grounding in basic mathematical techniques of particular relevance to actuarial work in Life insurance, Pension & Healthcare.

	Annuities and Assurance (1 and 2 lives)
	Select and Ultimate Mortality Functions & Heterogeneity
	Life insurance contracts / Pensions
	Reserving / Actuarial Funding / Profit Testing
	Alteration to Contracts
	Hours: 15 hrs Phase I, 6.25 hrs Phase III

5-ACTUARIAL MATHEMATICS 2 (covers 65% of 106 IoA)

Aims: To provide a grounding in basic mathematical techniques of particular relevance to actuarial work in non-life insurance.

	Decision Theory
	Bayesian Statistics
	Loss Distributions
	Reinsurance
	Credibility Theory
	Experience Rating
	Run-Off Triangles
	Hours: 15 hrs Phase I, 7.5 hrs Phase III

6-PROFESSIONALISM

Aims: To develop awareness of professionalism issues and the importance of professionalism in the work of an actuary.

	Characteristics and standards of a profession
	Code of conduct
	Role of Actuarial Associations
	The regulatory roles of actuaries
	The professional role of the actuary
	Hours: 3 hrs Phase I, 3 hrs Phase III