Search
  • Kalpesh Agrawal

CM1 Topics

List of CM1 (CT1 + CT5) topics.

✔ Different types of Life Insurance contracts (Policies)

There are essentially two types of Life Insurance:

  • Term Life (Pure term and TROP (Term with Return Of Premium))

  • Whole Life ( Pure Endowment and ULIP (Unit Linked Plan))

✔ Equation of Value (EPV of Money in = EPV of Money out)

✔ Different types of Life Annuity contracts (Policies)

  • Whole Life Annuity

  • Temporary Level Annuity

  • Deferred Annuity

  • Guaranteed Annuity

✔ The Force of Mortality

✔ Premium Coversation Equations

✔ Deterministic Model of Mortality

✔ Uniform Distribution of Deaths (UDD) & Constant Force of Mortality (CFM)


✔ Meaning and main forms of data analysis

  • Descriptive

  • Inferential

  • Predictive

✔ Process of data analysis

✔ Big data

✔ The Meaning and Value of Reproducibility research

✔ Advantages and disadvantages of Modelling

✔ What are Stochastic and deterministic models ✔ How to assess the suitability of models ✔ Sensitivity analysis

✔ Cashflow process


✔ The time value of money ✔ Simple and Compound interest

✔ The principle of consistency

✔ The nominal rate of interest

✔ The force of interest

✔ Definition of real and money interest rate

✔ Present value of cashflows

✔ Present value of annuities made in arrears and advance

✔ Accumulations ✔ Perpetuity ✔ Deferred annuities

✔ Varying annuities


✔ Equation of value

✔ Calculation of capital outstanding

✔ Retrospective and prospective loan calculation

✔ Annual Percentage Rate (APR)


✔ Methods of evaluating Projects

  • Net Present Value (NPV)

  • Accumulated profit

  • Internal Rate of Return (IRR)

  • Payback Period

  • Discounted payback period

✔ Fixed-interest securities

✔ Uncertain income securities

✔ Term structure of interest rates

✔ Continuous-time rates

  • Continuous-time spot rates

  • Continuous-time forward rates

  • Instantaneous forward rates

✔ Duration

✔ Convexity

✔ Immunization

✔ The life table

✔ Meaning of Ultimate mortality and Select mortality

✔ Uniform Distribution of Deaths (UDD)

✔ Constant force of mortality (CFM)

✔ Evaluating annuity benefits

✔ Premium conversion formulae

✔ Variable benefts

✔ Convetional with-profit contracts

✔ The gorss premium ✔ Principle of equivalence

✔ Reserves

  • Prospective reserves

  • Retrospective reserves

✔ Equality of prospective and retrospective reserves

✔ Single Life and Joint Life functions

✔ Present value of jont life and last survivor assurance

✔ Contingent probabilities of death

✔ Reversionary annuities ✔ Mortality profit ✔ Death Strain as Risk (DSAR)

  • Expected Death Strain (ADS)

  • Actual Death Strain (ADS)

✔ Mortality profit = Expected Death Strain (EDS) - Actual Death Strain (ADS)

✔ Multiple state model ✔ Designing the multiples state model

✔ Defining the model ✔ Multiple decrement model


✔ Unit-linked contracts

✔ Unit funds and non unit funds

✔ Accumulating with-profit (AWP) contracts

✔ Profit testing

✔ Effect of pricing and reserving on a profit test



0 comments

Recent Posts

See All