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IAI Actuarial Core Principles · Business Management · Activities of the Institute of Actuaries of India

Rohan has passed CS1, CS2, CM1 and CM2 of the IAI Core Principles but has not yet attempted the Business module. He asks a colleague whether he can be treated as having completed Core Principles. Which advice is correct?

Rohan cannot treat Core Principles as complete. The stage has three modules, Actuarial Statistics, Actuarial Mathematics and Business, and all must be passed. Since he has not yet passed CB1, CB2 and CB3 in the Business module, he must still clear it.

  1. AYes, the Actuarial Statistics and Actuarial Mathematics modules are enough to complete Core Principles
  2. BNo, he must also pass the Business module (CB1, CB2 and CB3) before Core Principles is completeCorrect
  3. CYes, provided he completes CB3 alone because CB1 and CB2 are optional
  4. DNo, because he must first pass all the Specialist Principles subjects
  5. Yes, if his aggregate across the four subjects exceeds 50%

Explanation

Core Principles has three modules: Actuarial Statistics, Actuarial Mathematics and Business. All three must be passed to qualify as an Associate or Fellow. Passing only the first two modules leaves the Business module (CB1, CB2, CB3) outstanding.

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