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Certification Provider: IFoA

Exam Name: Certified Actuarial Analyst

Duration: 90 Minutes

Number of questions in our database: 64

Exam Version: May. 20, 2023

IFoA_CAA_M0 Exam Official Topics:

**Topic 1:**Explain what is meant by the aggregate claim process and the surplus process for a risk/ Define the adjustment coefficient for a compound Poisson process**Topic 2:**Explain the concepts of excesses, deductibles, and retention limits/ Apply the average cost per claim method for estimating outstanding claim amounts**Topic 3:**Derive the moment generating function of the sum of N independent random variables/ Risk models involving fr equency and severity distributions**Topic 4:**Demonstrate how the basic chain ladder method can be adjusted to make explicitallowance for inflation**Topic 5:**Describe the major simplifying assumptions underlying the models in 2(i)/ Describe the operation of simple forms of proportional and excess of loss reinsurance**Topic 6:**Define moments and moment generating functions/ Calculate the adjustment coefficient for a compound Poisson process in simple cases**Topic 7:**Explain relationships between the different probabilities of ruin/ Risk models involving frequency an dseverity distributions**Topic 8:**Apply the basic chain ladder method for completing the run-off triangle/ Define the probability of ruin in infinite/finite and continuous/discrete time**Topic 9:**Apply the principles of statistical inference to select suitable loss distributions for setsof claims**Topic 10:**Probabilities and Moments of loss destribution both with and without limits an risk-sharing arrangements

Question #1

Question #2

For random variable X, use the following statistics to calculate its coefficient of skewness based on central moments.

E(X) = 3.940

E(X2) = 21.466

skew(X) = E[(X - )3] = 6.008

Question #3

For the following data set, calculate the mean and median.

10,8, 5, 7, 14, 5, 3, 9, 5, 8

Question #4

Determine and describe the extreme values of f(x,y) = -x2 - xy - 3y2

Question #5

The random variableX has the followingprobability density function ("PDF"):

Calculate: P(x 1.5)

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