6 Strategies for Overcoming Failures in Actuarial Science
How convexity and duration are used to solve real business problems. But before moving to that let’s first understand what convexity and duration actually is! Duration (or modified duration) is a linear measure (or 1st derivative) of how the price of a bond changes in response to …
As the new curriculum 2019 has been released, there are major debates over the changes in the structure of both the Actuarial Societies (IFOA vs IAI). There were many students who used to attempt exams from IAI because the exam fees were lower as compared …
Clearing CB1 (formerly CT2) is not as hard as it looks. Business Finance provides the theory and application of corporate finance as well as the main elements of companies’ financial statements. Candidates will gain knowledge of corporate governance, different types of company structure, management goals …
Actuarial Failure. Can you tell me one successful person, who got successful without facing failure in life? If everyone fails, will that be considered as failure or step in learning. If everyone goes through failure before becoming successful then a failure should be embraced, isn’t …
The first question occur to mind what is granualarity and how is it that important for a General Insurance business? Breaking down Granularity Granularity is subdivision. If the business is subdivided by class, currency, territory, major risk groups within a class and such other subdivisions, …
This is a short summary explaining Industry Loss Warranties (ILWs). ILW is explained in detailed in Actuarial SP7 subject (formerly ST7). Definition of ILW Industry loss warranties (ILWs) are a type of reinsurance contract where the basis of cover is not indemnity, i.e. repayment of actual losses suffered. Protection is based on the total loss arising from an event to the entire insurance industry rather than individual insured company’s own losses. Trigger Event for ILWs The original size of the industry loss is used as a trigger for eligibility to a recovery. Often, the industry loss trigger is fixed, with reference to published information or a known …
How to become an Actuary: Actuary in India The Institute of Actuaries of India (IAI) regulates the education & training of actuaries in India. When a student becomes a member of IAI by clearing the ACET exam, there comes up the ultimate task to become …
Masters in Actuarial Science from abroad is always a question of high doubt and discussion. To help you solve your doubts we have already published an article on Masters in Actuarial Science from abroad giving a brief about the factors you need to consider before …
It’s a boring afternoon. You’re tired after exhausing actuarial class, and all you want to do is curl up with Netflix and a bowl of cereal. But you really should study, and you know it that actuarial exams are close now. It’s just that you …
Actuarial Core Mathematics 1 (CM1) forms the core for classical actuarial expertise. It is one of the most interesting subjects and practical subjects with wide applicability. It provides students with essential knowledge by teaching the pricing of different financial products and life insurance contract. Actuarial …
Background of CM2 Actuarial History The Actuarial Mathematics subjects (Subjects Actuarial CM1 and Actuarial CM2) are new subjects in the Institute and Faculty of Actuaries 2019 Curriculum. Subject CM2 is Financial Engineering and Loss Reserving. Predecessors The topics covered in the Actuarial Mathematics subjects (Subjects …