Probability and Mathematical Statistics paper of Institute of Actuaries of India generally cover topics like exploratory analysis of data, probability concept, random variable, continuous and discrete distributions, limit theorem, random sampling, concept of estimators, regression analysis and correlation analysis, analytical concept of variance, concept of compound distribution and conditional expectation etc.

Question Paper Pattern

Number of question in this paper varies quite a lot and neither would you find any sections like “A”, “B”, nor would you be able to hit upon any multiple choice questions. Besides, you would have to attempt all questions as well as required to start each question on an entirely new sheet.

Question paper contains both subjective as well as objective type questions, and as name of the paper suggests numerical questions would certainly find its place here.

Questions That Frequently Feature In The Paper

Here we would try to focus more on theoretical questions as if it is for numerical questions, we would have to write down all of them. Topics that would be of interest here are Central Limit Theorem, Bayes’ Theorem, Poisson Process, Laws of total probability, definition of compound distribution etc. Out of the just mentioned topics, Poisson process is the one which you should think as the dark horse.

Maximum marks and time allotted

A total of 3 hours is provided to complete Institute of Actuaries Of India-Subject CT3- Probability and Mathematical Statistics Paper of 100 marks.

Few Pointers

Try to be neat and clean with your handwriting as first impression is the last impression. Besides, it is also likely that if the examiner has to spend extra time in understanding your writing rather than paper evaluation, he/she might penalize you.

Download Institute of Actuaries Of India-Subject CT3- Probability and Mathematical Statistics Papers