CAS Study Guide 2026
Everything you need to pass the CAS exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CAS Exam Format at a Glance
📚 CAS Topics to Study (75)
✍️ Sample CAS Questions & Answers
1. What does IBNR stand for in actuarial reserving?
IBNR (Incurred But Not Reported) reserves cover losses that have occurred but have not yet been reported to the insurer.
2. What is the primary goal of a quality improvement program?
Quality improvement focuses on systematic enhancement of processes, services, and outcomes for continuous betterment.
3. Which communication technique is most effective for verifying understanding?
The teach-back method confirms understanding by having the person explain the information in their own words.
4. Climate change research in the CAS context most directly impacts which actuarial function?
Climate change alters frequency and severity trends for natural perils, requiring actuaries to update catastrophe model assumptions and long-term projections.
5. The CAS Institute's Certified Specialist in Predictive Analytics (CSPA) credential is specifically designed for professionals who:
The CSPA is a standalone credential for analysts and data scientists applying predictive modeling in insurance who may not be pursuing the full CAS fellowship.
6. What is the 'loss development factor' (LDF) used for in casualty actuarial work?
Loss development factors (also called age-to-age factors) are derived from historical loss triangles and applied to immature losses to estimate ultimate claim costs.