There are two parts to this exam, Ratemaking and Reserving.
Syllabus Coverage
| Part | Topic | Core concepts |
|---|---|---|
| Insurance Basics | Fundamental Insurance Equation | |
| Policies, Coverages & Claims | ||
| Understanding Insurance Data | ||
| Ratemaking Process | Ratemaking Principles, considerations and Adjustments | |
| Rate and Benefit Changes | ||
| Development | ||
| Trending | ||
| Expenses and Profits | ||
| Overall Rate Level Indications | ||
| Risk Classification | Risk Classification | |
| Univariate Classification (Traditional) | ||
| Multivariate Classification | ||
| Special Classification | ||
| Credibility | ||
| Implementation | Constraints and Considerations | |
| Finalizing Rates | ||
| Other Ratemaking Topics | Claims-Made Policies | |
| Commercial Lines Ratemaking | ||
| Reserving Methods | Goals of Reserving | |
| Chain Ladder Method | ||
| Expected Claims Method | ||
| Bornhuetter-Ferguson Technique & Benktander Methods | ||
| Cape Cod Method | ||
| Frequency-Severity Distributions | ||
| Case Outstanding Techniques | ||
| Evaluating Reserving Techniques | Berquist-Sherman Techniques | |
| Evaluating Reserving Techniques | ||
| Other Reserving Topics |