Actuarial Statistics

The strength of our Actuarial Statistics subjects is the emphasis on understanding statistical concepts and methods, and their practical application to actuarial problems. In both CS1 and CS2, emphasis is placed on being able to apply statistical methods to actuarial problems using real data sets and the open-source software environment R. In designing these new subjects will enhance Actuarial Science for our student members through the development of transferable skills and enhanced employability.

Find out more on how to install R and how it is used in the CS1B and CS2B examinations:

Please note: the CS1 and CS2 exams are now a combination of both a written (A) and an online (B) assessment. Both elements, A and B, will need to be taken in the same exam sitting.

CS1A and CS2A: are theoretical exams delivered online and can be taken at your workplace or at home, at UK times only
CS1B and CS2B: are problem-based assessments and will be sat in UK time only at home or at your workplace

Actuarial Statistics (CS1)

Core Principles

The aim of Actuarial Statistics (CS1) is to provide a grounding in mathematical and statistical methods that are of relevance for actuarial work. It equips the student with knowledge of statistical distributions, methods to summarise data, the principles of statistical inference, regression models (including generalised linear models) and the fundamental concepts of Bayesian statistics. The subject includes both theory and application of the ideas using R.

Subject CS2 builds directly on the material in this subject. The material in this subject is applied to actuarial modelling in subjects CM1 and CM2.

You must sit A + B papers in the same session.

From September 2021, an additional 5 minutes has been added to each paper to allow for candidates to download or print, if required, their exam paper.

Actuarial Statistics (CS1) core reading is available from the IFoA E-Shop or our tuition provider ActEd (BPP).

Resources for CS1

Past papers and examiners reports for CS1

CS1 Syllabus for 2024 exams (PDF 157 KB)

Actuarial Statistics (CS1) core reading

Exam format: 3 hours and 20 minutes computer-based exam (Word), plus 1 hour and 50 minutes computer-based exam (Word and R).

Recommended study hours: 200

Actuarial Statistics
CS1A
Theoretical Exam
3 hours and 20 minutes
Computer based (Word)
+
Actuarial Statistics
CS1B
Computer-based
1 hour and 50 minutes
Word and R

Risk Modelling and Survival Analysis (CS2)

Core Principles

Risk Modelling and Survival Analysis (CS2) builds on CS1. It develops knowledge of and the ability to apply statistical methods for risk modelling, time series analysis methods, stochastic processes (especially Markov chains and Markov jump processes), survival analysis (including regression methods applied to duration data), and graduation methods It also includes a high-level introduction to machine learning. The subject includes both theory and application of the ideas to real data sets using R.

Material in this subject is applied to actuarial modelling in subjects CM1 and CM2.

You must sit A + B papers in the same session.

Risk Modelling and Survival Analysis (CS2) core reading is available from the IFoA E-Shop or our tuition provider ActEd (BPP).

From September 2021, an additional 5 minutes has been added to each paper to allow for candidates to download or print, if required, their exam paper.

Resources for CS2

Past papers and examiners' reports for CS2

CS2 Syllabus for 2024 exams (PDF, 173 KB)

Risk Modelling and Survival Analysis (CS2) core reading

Exam format: 3 hours and 20 minutes computer-based exam (Word), plus 1 hour 50 minutes computer-based exam (Word and R)

Recommended study hours: 250