CAS Exam Structure and Designations Flashcards
6 cards from real CAS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 CAS Exam Structure and Designations flashcards as text
CAS Exam 7 covers which subject matter?
Answer: Estimation of policy liabilities and insurance company valuation
Exam 7 covers estimation of policy liabilities, insurance company valuation, and enterprise risk management at an advanced level.
CAS Exam 9 focuses on which area of actuarial practice?
Answer: Financial risk and rate of return
Exam 9 covers financial risk and rate of return, including portfolio theory, asset-liability management, and financial risk measures.
Which study resource is commonly associated with CAS Exam 5 ratemaking preparation?
Answer: Werner & Modlin 'Basic Ratemaking'
Werner and Modlin's 'Basic Ratemaking' is a primary syllabus resource for the ratemaking portion of CAS Exam 5.
What is required for the FCAS designation beyond passing all 9 exams?
Answer: Online courses, approved seminar attendance, and experience requirements
FCAS requirements include passing 9 exams, completing online courses, attending an approved seminar (e.g., Casualty Loss Reserve Seminar), and meeting experience requirements.
Which individual risk rating plan adjusts premium based on an insured's own historical loss experience?
Answer: Experience rating
Experience rating uses an insured's own historical loss experience to modify the manual premium, rewarding favorable experience with lower rates.
What is the primary distinction between ACAS and FCAS designations?
Answer: FCAS requires completing all 9 exams while ACAS requires fewer exams
The FCAS designation requires passing all 9 CAS exams and completing additional requirements, while the ACAS requires fewer exams and represents the associate level.