CB3 – Business Management has not yet been replaced. Under the Institute of Actuaries of India (IAI) Education Policy 2026, CB3 and CP3 – Communication Practice will be merged into a new subject, CP3 – Strategic Management and Communication, from the November 2027 examination term.
Examination Pattern:
Current CB3: A 90-minute examination consisting of MCQs and descriptive questions.
New CP3 (from November 2027): A 3-hour 15-minute written examination covering strategic management, business decision-making and professional communication.
Transition Rules:
Students who have cleared only CB3 or CP3 will receive three additional examination terms to clear the remaining subject.
Passes and exemptions obtained up to 31 December 2028 will be recognised under IAI’s transition policy.
Students who do not complete both subjects within the transition period will need to appear for the new combined CP3 examination.
Additionally, IAI will introduce CS3 – Data Science: Tools, Techniques & Applications from the May 2027 examination term.
Important: Students should refer to the latest official IAI examination guidelines for applicable requirements and transition arrangements.
Has the IAI CB3 examination been replaced, and what is the current pattern?
CB3 – Business Management has not yet been replaced. Under the Institute of Actuaries of India (IAI) Education Policy 2026, CB3 and CP3 – Communication Practice will be merged into a new subject, CP3 – Strategic Management and Communication, from the November 2027 examination term.
Examination Pattern:
Transition Rules:
Additionally, IAI will introduce CS3 – Data Science: Tools, Techniques & Applications from the May 2027 examination term.
Important: Students should refer to the latest official IAI examination guidelines for applicable requirements and transition arrangements.