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IFoA_CAA_M0 Exam
- 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
Free IFoA IFoA_CAA_M0 Exam Actual Questions
The questions for IFoA_CAA_M0 were last updated On Nov. 19, 2023
Identify which of the following best describes the nature of a stationary point.
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.
State whatthe limit of a function with input variable xrepresents.
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".
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