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CM1 – Actuarial Mathematics for Modelling Tutorials

CM1 Aim

Actuarial Mathematics for Modelling (CM1) develops a grounding in the mathematical principles required
for actuarial modelling, with a focus on understanding deterministic models and their application to solve
financial problems. Alongside this, the related and required understanding of the theory of interest rates
and the skills to model cashflows, which may be known or contingent on mortality, morbidity or survival,
are also developed.

Links across the Qualifications
Associateship Qualification

Concepts in Actuarial Mathematics for Modelling (CM1) are introduced in Actuarial Statistics (CS1), in
particular, a familiarity with probabilities, random variables, expectation and variance, which is required
understanding for CM1.

Topics in CM1 are further developed in:

  1. Economic Modelling (CM2)
    Extension and application of many concepts and techniques from CM1 to stochastic modelling
  2. Business Finance (CB1)
    Application of the knowledge of interest rates to the interpretation of corporate accounts and understanding how corporate operations are financed
  3. Actuarial Practice (CP1)
    Applies CM1 techniques to real world problems
  4. Modelling Practice (CP2)
    Application and communication of CM1 techniques in a business context
  5. Communications Practice (CP3)
    May draw upon concepts and techniques from CM1 in order to answer the CP3 examination questions

Fellowship Qualification

Concepts, principles and techniques from CM1 are further developed in the following Specialist Principles
subjects, through solving problems and giving appropriate advice, guidance and recommendations:

  • SP1 – Health and Care Principles
  • SP2 – Life Insurance Principles
  • SP4 – Pensions and other Benefits Principles

Topics and Topic Weightings

  1. Theory of interest rates [25%]
  2. Equation of value and its applications [20%]
  3. Decrement and multiple life models [20%]
  4. Pricing and reserving [35%]

To register for CM1 Tutorial, click HERE

More information on the IFoA’s CM1 Course