Exam P
Probability
The examination for this material consists of 3 hours of multiplechoice questions and is identical to CAS
Exam 1.
Exam P is now being offered as a computerbased test. Details on this appear in the
Exam P
ComputerBased Testing Administration Details
section under General Information and at
www.beanactuary.or
g
/exams/prob_exam.c
f
m
.
The purpose of this course of reading is to develop knowledge of the fundamental probability tools for
quantitatively assessing risk.
The application of these tools to problems encountered in actuarial science is
emphasized.
A thorough command of probability topics and the supporting calculus is assumed.
Additionally, a very basic knowledge of insurance and risk management is assumed.
A table of values for the normal distribution will be included with the examination.
LEARNING OUTCOMES
Candidates should be able to use and apply the following concepts in a risk management context:
1. General Probability
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 Fall '09
 TBA
 Normal Distribution, Probability, Probability theory, probability density function

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