Paper pattern:

Look forward to subjective paper which is also objective. The paper of “foundation of casualty actuarial science” is a mix of long and short questions. It contains short answer type questions that require brief answers and there are long answer type questions that require long answers too. The number of questions that a candidate gets to see in the question paper is 8. Question number 1 contains 15 questions which are objective types. These contain multiple choices. The other 7 questions are divided into sub questions. There are no alternative questions in the paper. The paper contains questions that are based on short notes and has 2 short notes. The first question contains numerical type questions and data based problems.

Total marks and time limit:

The maximum marks for the examination is 100. The examination has duration of 3 hours. Objective section contains questions that carry 2 marks each. The questions in the subjective section are of 10 marks each. The short notes type questions carry 5 marks each.

Points to remember:

Questions are usually based on formula such as CAPM, expected value of variance, immunisation, reinsurance treaty, loss of reserving, internal rate return, faculty certificate pricing,  net worth of general insurance, facultative concept, etc. The candidates are expected to be well versed with their syllabus follow the time limit well so that the paper is completed within the stipulated time.

Points to be remembered:

The examination is based on numerical hence the candidate must be well versed with the concept of the subject. A clear understanding of the formulas and derivations will help in correct and quick answering of the questions. The students must make it a point to learn the formulas well.