CAS CAS Exam Structure and Designations

Question 1

Which designation is awarded upon completing the CAS associateship requirements?

Accepted Answer

ACAS

Answer

The ACAS (Associate of the Casualty Actuarial Society) designation is awarded after completing all associate-level exam and education requirements.

Question 2

How many written exams must be passed to achieve the FCAS designation?

Accepted Answer

9

Answer

FCAS candidates must pass all 9 CAS exams (Exams 1, 2, MAS-I, MAS-II, 5, 6, 7, 8, and 9) in addition to online courses and other requirements.

Question 3

Which CAS exam covers Basic Techniques for Ratemaking and Estimating Claim Liabilities?

Accepted Answer

Exam 5

Answer

CAS Exam 5 is the first property-casualty-specific exam, covering foundational ratemaking and reserving techniques.

Question 4

CAS Exam 1 (Probability) is jointly administered with which other actuarial organization?

Accepted Answer

Society of Actuaries

Answer

CAS Exam 1 is co-administered with the Society of Actuaries and is equivalent to the SOA's Exam P, covering probability theory.

Question 5

Which CAS exam covers Advanced Ratemaking, including individual risk rating plans?

Accepted Answer

Exam 8

Answer

CAS Exam 8 covers Advanced Ratemaking topics including classification ratemaking, experience rating, schedule rating, and retrospective rating.

(CAS) Casualty Actuarial Society Practice Test