Changes to the Actuarial Study Scheme – Part 2
The Core Principles are now divided into three sections – Core Mathematics, Core Statistics and Core Business. The current Actuarial mathematics (CM1) exam is a combinations of the previous Financial Mathematics (CT1) and Contingencies (CT5) . The current Actuarial statistics exam (CS2) is a combination of th old Models (CT4) and Statistical Methods (CT6) exam.
The current core business exams are each examined by a 3 hour and 15 minute paper. The Core Mathematic and Core Statistic exams will consist of two parts:
- A 3 hour and 15 minute paper exam and
- A 1.5 hour online exam.
Of note – if individuals have not passed or been exempt from both CT exams which correspond to the new CM1 and CS2 exams by 31st December 2018 then individuals will have to sit the new exam in full.
Continue to Part 3