2012-05-exam-c - Construction and Evaluation of Actuarial...

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Construction and Evaluation of Actuarial Models Exam The Construction and Evaluation of Actuarial Models exam is called Exam C by the SOA and Exam 4 by the CAS. This three-and-a-half hour exam consists of 35 multiple-choice questions. Also, a preview of the CBT layout of the Exam C/4 tables in HTML is available online since the tables have been divided into five sections for viewing purposes. The examination is jointly sponsored and administered by the SOA, CAS, and the Canadian Institute of Actuaries (CIA). The examination is also jointly sponsored by the American Academy of Actuaries (AAA) and the Conference of Consulting Actuaries (CCA). The Construction and Evaluation of Actuarial Models Exam is administered as a computer-based test. For additional details, please refer to Exam Rules . The syllabus for this examination provides an introduction to modeling and covers important actuarial methods that are useful in modeling. A thorough knowledge of calculus, probability, and mathematical statistics is assumed. The candidate will be introduced to useful frequency and severity models beyond those covered in Exam M. The candidate will be required to understand the steps involved in the modeling process and how to carry out these steps in solving business problems. The candidate should be able to: 1) analyze data from an application in a business context; 2) determine a suitable model including parameter values; and 3) provide measures of confidence for decisions based upon the model. The candidate will be introduced to a variety of tools for the calibration and evaluation of the models. A variety of tables is available below for the candidate and will be provided to the candidate at the examination. These include values for the standard normal distribution, chi-square distribution, and abridged inventories of discrete and continuous probability distributions. Candidates will not be allowed to bring copies of the tables into the examination room. Check the Updates section on this exam's home page for any changes to the exam or syllabus. The ranges of weights shown are intended to apply to the large majority of exams administered. On occasion, the weights of topics on an individual exam may fall outside the published range. Candidates should also recognize that some questions may cover multiple learning outcomes. Each multiple-choice problem includes five answer choices identified by the letters A, B, C, D,
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This note was uploaded on 03/15/2012 for the course STAT 479 taught by Professor Na during the Spring '10 term at Purdue University-West Lafayette.

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2012-05-exam-c - Construction and Evaluation of Actuarial...

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