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CM1 – Actuarial mathematics

CM1 – This will be examined in a set of 2 papers. CM1A is 3 hours paper based assessment and CM1B is 1 hour 45 minutes’ online exam which Excel programming along with Actuarial Modelling and mathematical techniques. Syllabus topics covers – Syllabus topics covers- Principles of actuarial Modelling, Cashflow models, The…

5Modules
28Chapters
247Classes
CM1
Actuarial mathematics
Curriculum

5 modules, 28 chapters, 247 classes

Open a chapter to see every class, or search for a topic.

  1. Class 11Data analysis

  1. Class 21Modelling process – benefits and imitations
  2. Class 22Suitability of model and sensitivity analysis

  1. Class 31Introduction of Cash flow models
  2. Class 32Index linked bond
  3. Class 33Annuity certain and contingent annuity
  4. Class 34Pure endowment and term assurance

  1. Class 41Simple interest and compound interest
  2. Class 42Accumulation factor
  3. Class 43Principle of consistency
  4. Class 44Present value
  5. Class 45Discount rates
  6. Class 46Discount factor
  7. Class 47Effective rate of interest
  8. Class 48Equivalent rates

  1. Class 51Nominal rate of interest and effective rate of interest introduction
  2. Class 511Nominal rate of interest and effective rate of interest formula
  3. Class 512Accumulating and discounting using nominal rate of interest
  4. Class 52Nominal rate of discount and effective rate of discount
  5. Class 521Nominal rate of discount and effective rate of interest
  6. Class 522Accumulating and discounting using nominal rate of discount
  7. Class 53Problem solving Nominal rate of interest and discount
  8. Class 54Force of interest introduction
  9. Class 541Force of interest and nominal discount
  10. Class 55Force of interest as a function of time and accumulation factor
  11. Class 551Problem solving 2 force of interest - accumulation factor
  12. Class 56Force of interest and present values
  13. Class 561Problem solving 3 force of interest - present value

  1. Class 61Real and money rate of interest
  2. Class 62Deflationary conditions

  1. Class 71Present value of cashflows
  2. Class 72Continuously payable cash flows or payment streams
  3. Class 73Present value of continuously payable cashflows
  4. Class 74Valuing cash flows
  5. Class 75Constant interest rate
  6. Class 76Payment streams
  7. Class 761Problem solving1 payment streams
  8. Class 762Problem solving2 present value of payment streams
  9. Class 77Accumulated value of continuous payment streams
  10. Class 771Problem solving3 accumulated value of payment streams
  11. Class 78Sudden changes of interest rate
Module 1 exam-type questions and solutions

  1. Class 81Annuities # Present value of payment made in arrears
  2. Class 82Present value of payment made in advance
  3. Class 83Accumulations
  4. Class 84Continuously payable annuities
  5. Class 85Annuities payable pthly – arrears
  6. Class 851Annuities payable pthly – advance
  7. Class 852Accumulation - annuities payable pthly
  8. Class 86Non integer value of n
  9. Class 87Perpetuities
  10. Class 88Deferred annuities
  11. Class 881Deferred annuities – continuously payable annuities
  12. Class 882Deferred annuities – sudden change in interest rate

  1. Class 91Increasing annuities – payment made in arrears
  2. Class 92Increasing annuities – annuity due payable
  3. Class 93Increasing annuities – continuously payable annuities – end of the year
  4. Class 931Increasing annuities – continuously payable annuities
  5. Class 94Increasing annuities – decreasing payments
  6. Class 95Increasing annuities – irregular payments
  7. Class 96Increasing annuities – sudden change in interest rate
  8. Class 97Compound increasing annuities
  9. Class 971Compound increasing annuities – problem solving 1
  10. Class 972Compound increasing annuities – problem solving 2
  11. Class 973Compound increasing annuities – problem solving 3

  1. Class 101Introduction of equations of value
  2. Class 102Equations of value - solving for an unknown quantity
  3. Class 103Equations of value - unknown quantity time and interest rate
  4. Class 104Estimating the unknown interest rate using linear interpolation
  5. Class 105Problem solving - linear interpolation
  6. Class 106Uncertain payment or receipt - probability of cash flow
  7. Class 107Uncertain payment or receipt - Higher discount rate

  1. Class 111Introduction of loan schedule
  2. Class 112Capital outstanding – retrospective method
  3. Class 113Capital outstanding – prospective method
  4. Class 1131Problem solving 1 – calculating loan outstanding
  5. Class 114Loan schedule – calculating interest and capital elements
  6. Class 115Loan schedule calculating monthly instalments
  7. Class 116Loan schedule monthly instalments – calculating capital repaid
  8. Class 117Annual percentage rate APR
  9. Class 118Problem solving 2
  10. Class 1181Problem solving 3
  11. Class 1182Problem solving 4

  1. Class 121Project appraisal – Fixed interest rates
  2. Class 122Project appraisal – Net Present Value (NPV)
  3. Class 123Project appraisal – Internal rate of return (IRR)
  4. Class 124Comparison of two investment projects
  5. Class 125Different interest rate for lending and borrowings
  6. Class 126Discounted Pay Back period (DPP)
  7. Class 1261Problem solving 1 – Discounted Pay Back period
  8. Class 127Project appraisal - Other considerations
  9. Class 128Problem solving 2
  10. Class 1281Problem solving 3
Module 2 exam-type questions and solutions

  1. Class 131Fixed interest security# price and gross redemption yield
  2. Class 132Fixed interest security # income tax liable investor
  3. Class 133Fixed interest security – capital gain test
  4. Class 1331Problem solving 1 - capital gain test
  5. Class 134Fixed interest security – optional redemption dates
  6. Class 1341Optional redemption dates – worst case scenario
  7. Class 135Equities – uncertain income securities
  8. Class 1351Properties – uncertain income securities
  9. Class 136Real rate of interest – inflation adjusted return
  10. Class 1361Relationship between real yield, rate of inflation and money yield
  11. Class 1362Calculating real yield using inflation index
  12. Class 137Index linked bond – real yield
  13. Class 1371Index linked bond – zero coupon bond
  14. Class 1372Problem solving 2 index linked bond
  15. Class 138Exam type problem solving 1
  16. Class 1381Exam type problem solving 2

  1. Class 1401Discrete time spot rate
  2. Class 1402Discrete time forward rate
  3. Class 14021Continuous time forward rate
  4. Class 1403Theories of term structure of interest rate
  5. Class 1404Yield to maturity
  6. Class 14041Gross redemption yield - problem solving
  7. Class 1405Par yield
  8. Class 1406Effective duration or Volatility
  9. Class 14061Macaulay duration or Discounted mean term (DMT)
  10. Class 14062Macaulay duration - force of interest
  11. Class 1407Convexity
  12. Class 1408Redington’s Immunisation
  13. Class 1409Redington’s Immunisation - exam type Problem solving 1
  14. Class 14091Redington’s Immunisation - exam type Problem solving 2

  1. Class 1501The Life Table
  2. Class 1502Force of Mortality
  3. Class 1503Complete expected future life time
  4. Class 1504Deferred probabilities of death
  5. Class 1505Curtate future life time
  6. Class 1506Uniform distribution of Death (UDD)
  7. Class 15061Constant force of Mortality (CFM)
  8. Class 1507Select mortality
  9. Class 15071Constructing select and ultimate life tables
  10. Class 15072Using tabulated select life table functions

  1. Class 1601Whole life assurance contract - expected present value
  2. Class 16011Whole life assurance contract - Variance
  3. Class 1602Term assurance contract - expected present value
  4. Class 16021Term assurance contract - Variance
  5. Class 1603Pure endowment contract - expected present value and Variance
  6. Class 1604Endowment assurance Contract - expected present value and Variance
  7. Class 1605Deferred assurance - whole life assurance contract - EPV
  8. Class 16051Deferred assurance - whole life assurance contract -Variance
  9. Class 1606Benefit payable immediately on death - whole life assurance
  10. Class 1607Benefit payable immediately on death - Term assurance and endowment assurance
  11. Class 1608Problem solving - Benefit payable immediately on death -endowment assurance
Module 3 exam-type questions and solutions

  1. Class 1701Whole life annuities payable annually in arrears – EPV
  2. Class 17011Whole life annuities payable annually in arrears – variance
  3. Class 1702Whole life annuities payable annually in advance
  4. Class 1703Temporary annuities payable annually in arrears
  5. Class 17031Temporary annuities payable annually in advance
  6. Class 1704Deferred annuities payable annually in arrears
  7. Class 17041Deferred annuities payable annually in advance
  8. Class 1705Guaranteed annuities payable annually in advance
  9. Class 17051Guaranteed annuities payable annually in arrears
  10. Class 1706Continuous annuities
  11. Class 17061Temporary and Deferred continuous annuities

  1. Class 1801Evaluating assurance benefits
  2. Class 1802Evaluating annuity benefits
  3. Class 1803Evaluating annuity benefits - commutation function Dx
  4. Class 1804Premium conversion formula
  5. Class 1805Annuities payable m times in each year
  6. Class 1806Constant force of mortality
  7. Class 1807Problem solving - constant force of mortality

  1. Class 1901Payment varying by a constant monetary amount - whole life and term assurance
  2. Class 1902Payment varying by a constant monetary amount - endowment assurance
  3. Class 1903Payment varying by a constant monetary amount- immediately on death
  4. Class 1904Payment varying by a constant monetary amount- temporary annuity
  5. Class 1905Payment varying by a constant monetary amount - continuous annuity
  6. Class 1906Conventional profit contracts - reversionary bonus
  7. Class 1907Problem 1 bonus paid start and bonus paid end of the year
  8. Class 1908Problem solving 2 bonus and benefits paid immediately on death

  1. Class 2001Gross future loss random variable (FLRV)
  2. Class 2002Gross future loss random variable (FLRV) - with profit policy
  3. Class 2003Determining gross premium using principle of equivalence
  4. Class 2004Problem solving 1 - determining gross premium
  5. Class 2005Determining gross premium - with profit policy
  6. Class 2006Determining gross premium - premium payable m times per year
  7. Class 2007Determining gross premium including profit loading
  8. Class 2008Problem solving 2 - determining gross premium
  9. Class 2009Percentile premium using FLRV

  1. Class 2101Gross premium - Prospective reserves
  2. Class 2102Gross premium - Prospective reserves – Single premium
  3. Class 21021Gross premium- Prospective reserves - with profit policies
  4. Class 21022Gross premium Prospective reserves - satisfying probabilities
  5. Class 2103Retrospective Accumulations
  6. Class 21031Retrospective Accumulations - theory and problem solving
  7. Class 2104Gross premium Retrospective reserves
  8. Class 2105Equality of Prospective and Retrospective reserves
  9. Class 21051Problem solving Equality of Prospective and Retrospective reserves
  10. Class 2106Recursive relationship
  11. Class 2107Profit over the year using Recursive relationship
  12. Class 21071Problem solving - Profit over the year
  13. Class 2108Net premium reserves

  1. Class 2201Joint life functions
  2. Class 2202Last survivor life time random variables
  3. Class 2203Evaluating probability of death or survival
  4. Class 2204Present value of joint life and last survivor assurance
  5. Class 2205Present value of joint life and last survivor annuity
  6. Class 2206Problem solving present value of last survivor - continuous annuity
  7. Class 2207Calculation of premium and reserves - joint life last survivor
Module 4 exam-type questions and solutions

  1. Class 2301Contingent probabilities of death
  2. Class 23011Contingent probabilities of death - identical mortality
  3. Class 2302Contingent Assurance
  4. Class 23021Contingent Assurance - derivation of formulas
  5. Class 2303Reversionary annuities
  6. Class 23031Reversionary annuities - integral expression
  7. Class 2304EPV of joint life assurance and annuities depend on term
  8. Class 23041EPV of joint life assurance depend on term-complex conditions
  9. Class 2305EPV of joint life annuities depend on term - Type 1 and Type 2
  10. Class 23051EPV of joint life annuities depend on term - Type 3
  11. Class 23052EPV of joint life annuities depend on term - Type 4
  12. Class 23053EPV of joint life annuities depend on term - Type 5
  13. Class 23054EPV of joint life annuities depend on term - Type 6
  14. Class 23055EPV of joint life annuities depend on term- problem solving
  15. Class 2306EPV of joint life annuities payable m times a year
  16. Class 2307EPV of joint life - premium conversion relationship

  1. Class 2401Mortality profit - death strain at risk (DSAR)
  2. Class 2402Mortality profit on a portfolio of policies
  3. Class 2403Mortality profit - death benefit payable immediately
  4. Class 2404Mortality profit allowing survival benefits
  5. Class 2405Mortality profit - annuities
  6. Class 2406Mortality profit - policies involving two lives
  7. Class 2407Mortality profit - last survival - joint life assurance

  1. Class 2501Multiple state model - healthy - sick -dead model
  2. Class 2502Multiple state model - valuing cash flow
  3. Class 25021Multiple state model- valuing cash flow -problem solving
  4. Class 2503Multiple decrement model
  5. Class 2504Multiple decrement model - transition intensities
  6. Class 2505Multiple decrement table
  7. Class 25051Multiple decrement table - obtaining depending probabilities
  8. Class 2506Multiple decrement table- from existing decrement table
  9. Class 25061Multiple decrement table - from existing single decrement table
  10. Class 2507Multiple decrement table - EPV of cashflows
  11. Class 2508Multiple decrement table - problem solving 2

  1. Class 2601Unit linked contracts
  2. Class 2602Accumulating with profit contracts (AWP)
  3. Class 2603Accumulating with profit contracts (AWP) - problem solving

  1. Class 2701Profit testing - expected cash flows
  2. Class 2702Profit testing - conventional endowment assurance
  3. Class 2703Profit testing - Unit linked endowment assurance
  4. Class 2704Profit testing - single premium unitised profit contract
  5. Class 2705Profit testing for annual premium contract -profit signature
  6. Class 2706Profit testing - Net present value (NPV) and IRR
  7. Class 2707Profit testing using the present value random variable

  1. Class 2801Calculating reserve from non-unit cash flow (NUCF)
  2. Class 2802Calculating reserve for unit linked contracts
  3. Class 2803Calculating reserve for conventional contracts
  4. Class 2804Effect of pricing and reserving bases on a profit test
  5. Class 2805Problem solving unit linked contracts
Module 5 exam-type questions and solutions

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