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Certification Provider: IFoA

Exam Name: Certified Actuarial Analyst

Duration: 90 Minutes

Number of questions in our database: 64

Exam Version: Nov. 19, 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

Identify which of the following best describes the nature of a stationary point.

Question #2

An insurance company sells policies where, for each policy, the policyholder pays the first 50 of the cost of any claim. A claim reported to the insurance company takes some unknown value x.

Identify which of the mathematical expressions below represents the cost in to the insurance company of the claim.

Question #3

State whatthe limit of a function with input variable xrepresents.

Question #4

In a small island nation, local sea vessels are identified using "a letter and 4 digits" classification system. The "letter" can be any of the 26 letters in the English alphabet, A to Z, while the "digit" can be any number from 0 to 9. E.g: Z9835.

Calculate the probability of a sea vessel having an identification ending in "007".

Question #5

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