Actuarial Qualification Scheme – Part II – Core Principles (CP’s)

The Core Principles are divided into three sections – Core Mathematics, Core Statistics and Core Business. The current Actuarial mathematics (CM1) exam is a combination of the previous Financial Mathematics (CT1) and Contingencies (CT5). The current Actuarial statistics exam (CS2) is a combination of the old Models (CT4) and Statistical Methods (CT6) exam.

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The current core business exams are each examined by a 3 hour and 15-minute paper. The Core Mathematics and Core Statistic exams consist of two parts:

  1. A 3 hour 15-minute paper exam and
  2. A 1.5 hour online exam.

To note – if individuals have not passed or been exempt from both CT exams which correspond to the new CM1 and CS2 exams then individuals will have to sit the new exam in full.