IAI Actuarial Core Principles formula sheets and revision notes
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Actuarial Statistics
- Purpose and function of data analysisFormula sheet
- Exploratory data analysisFormula sheet
- Basic univariate distributions and generating samplesFormula sheet
- Jointly distributed random variablesFormula sheet
- Expectations and conditional expectationsFormula sheet
- Generating functionsFormula sheet
- Central limit theoremFormula sheet
- Random sampling and sampling distributionsFormula sheet
- Estimators and their propertiesFormula sheet
- Confidence intervals and prediction intervalsFormula sheet
- Hypothesis testing and goodness of fitFormula sheet
- Linear regression modelsFormula sheet
- Generalised linear modelsFormula sheet
- Bayesian inference: priors, posteriors, loss functions and credible intervalsFormula sheet
- Credibility theory: Bayesian and empirical Bayes credibility premiumsFormula sheet
Risk Modelling and Survival Analysis
- Loss distributions, with and without risk sharingFormula sheet
- Compound distributions and their applications in risk modellingFormula sheet
- Introduction to copulasFormula sheet
- Introduction to extreme value theoryFormula sheet
- Core concepts of time series modelsFormula sheet
- Applications of time series modelsFormula sheet
- Stochastic processesFormula sheet
- Markov chainsFormula sheet
- Markov processesFormula sheet
- Concepts of survival modelsFormula sheet
- Estimation procedures for lifetime distributionsFormula sheet
- Maximum likelihood estimators for transition intensitiesFormula sheet
- Graduation and graduation testsFormula sheet
- Mortality projectionFormula sheet
- Elementary principles of machine learningFormula sheet
Actuarial Mathematics for Modelling
- Interest rates over different time periodsFormula sheet
- Time value of money: compound interest and discountingFormula sheet
- Allowing for inflationFormula sheet
- Financial instruments and insurance contracts as cashflow modelsFormula sheet
- Present value and accumulated value of cashflow streamsFormula sheet
- Annuity and accumulation functionsFormula sheet
- Term structure of interest ratesFormula sheet
- Duration, convexity and immunisationFormula sheet
- Equation of valueFormula sheet
- Practical applications of the equation of value (loans and APR)Formula sheet
- Key assurance and annuity contractsFormula sheet
- Means and variances of assurance and annuity paymentsFormula sheet
- Assurance and annuity functions involving two livesFormula sheet
- Valuing cashflows contingent on multiple transition eventsFormula sheet
- Projecting and valuing cashflows contingent on multiple decrement eventsFormula sheet
- Gross random future lossFormula sheet
- Gross premiums and reservesFormula sheet
- Death strain at risk, expected and actual death strain, mortality profitFormula sheet
- Non-unit reserves for unit-linked contracts (zeroisation)Formula sheet
Economic Modelling
- Rational expectations theory and the efficient markets hypothesisFormula sheet
- Rational choice theory and utilityFormula sheet
- Measures of investment riskFormula sheet
- Role of insurance in reducing or removing riskFormula sheet
- Mean-variance portfolio theoryFormula sheet
- Capital Asset Pricing Model (CAPM)Formula sheet
- Single and multifactor models for investment returnsFormula sheet
- Stochastic models for security pricesFormula sheet
- Models of the term structure of interest ratesFormula sheet
- Simple models for credit riskFormula sheet
- Ruin theoryFormula sheet
- Run-off trianglesFormula sheet
- Valuing benefit guarantees using simulationFormula sheet
- Principles of option pricingFormula sheet
- Binomial option-pricing modelFormula sheet
- Black-Scholes derivative-pricing modelFormula sheet
Business Finance
- Regulation of financial reporting of incorporated entitiesFormula sheet
- Corporate governance and the regulation of companiesFormula sheet
- Key principles of financeFormula sheet
- Ethical responsibilities of owners and managersFormula sheet
- Structure and methods of financing a companyFormula sheet
- Personal and corporate taxationFormula sheet
- Financial instruments issued or used by companiesFormula sheet
- Capital structure and dividend policyFormula sheet
- Corporate growth, restructuring and divestmentFormula sheet
- Cost of capital and evaluating investment projectsFormula sheet
- Construction and features of company accounts and reportsFormula sheet
- Interpreting company accounting informationFormula sheet
Business Economics
- Relationship between economics and businessFormula sheet
- Main economic schools and their key featuresFormula sheet
- Recent macroeconomic historyFormula sheet
- How competitive markets operateFormula sheet
- Consumer demand and behaviourFormula sheet
- Impact of advertising on sales and demandFormula sheet
- Production, costs, revenue and profit in price and output decisionsFormula sheet
- Profit maximisation under perfect competition and monopolyFormula sheet
- Profit maximisation under imperfect competitionFormula sheet
- Pricing strategies in the financial services sectorFormula sheet
- Government intervention in a marketFormula sheet
- Relationship between the government and the individual firmFormula sheet
- Globalisation and multinational businessFormula sheet
- Importance of international tradeFormula sheet
- Impact of the macroeconomic environment on businessFormula sheet
- Balance of payments and exchange ratesFormula sheet
- Role of money and interest rates in the economyFormula sheet
- Role, structure and stability of the financial systemFormula sheet
- Business activity, unemployment and inflationFormula sheet
- Impact of macroeconomic policies on businessesFormula sheet
- Supply-side policies and their impact on businessesFormula sheet
Business Management
- Skills and knowledge for working as an actuary in financial servicesFormula sheet
- Activities of the Institute of Actuaries of IndiaFormula sheet
- Issues and challenges in each main practice areaFormula sheet
- Strategy, competitive advantage, strategic decision process and PEST analysisFormula sheet
- Business and consumer needs, the industry value chain and competitive forcesFormula sheet
- Communicating strategy; culture and structure in decision making; strategy case studiesFormula sheet
- Mission, business strategy, teamwork and time managementFormula sheet
- Using data, company functions, people skills, influence and clear communicationFormula sheet
- Decision-making process, attitude to risk and competitionFormula sheet
- Sources of Indian law and valid contractsFormula sheet
- Implied terms, exclusion of liability, contractual remedies and damagesFormula sheet
- Professional negligenceFormula sheet
- Trusts and agencyFormula sheet
- Separate legal personality, directors' duties, shareholders and partnershipsFormula sheet
- Characteristics of a profession and the Actuaries' CodeFormula sheet
- Actuaries Act, 2006 and IAI governanceFormula sheet
- Professionalism and ethics case studiesFormula sheet