Yes. Under the Institute of Actuaries of India (IAI) Education Policy 2026, the current CB3 (Business Management) and CP3 (Communications Practice) subjects will be merged into a single subject called CP3 – Strategic Management and Communication from the November 2027 examination diet.
Currently, CB3 (Business Management) is a 90-minute MCQ exam focusing on business strategy, decision-making, professionalism, ethics, and the business environment relevant to actuaries. CP3 (Communications Practice) assesses the ability to communicate actuarial and technical concepts clearly to non-technical audiences through reports, emails, and presentations.
From November 2027, these two subjects will be replaced by the new CP3 – Strategic Management and Communication, a 3 hour 15 minute written examination that combines strategic business understanding with professional communication skills. The new subject is designed to test both business decision-making and the ability to communicate complex actuarial concepts clearly to stakeholders.
In addition, IAI is introducing CS3 – Data Science: Tools, Techniques & Applications from the May 2027 examination diet. CS3 reflects the growing importance of data science, analytics, artificial intelligence, machine learning, and predictive modelling in actuarial practice and will strengthen students’ quantitative and technological skills.
Under the transition arrangements, students who have passed only CB3 or only CP3 will be given three additional examination diets to complete the remaining subject. Passes and exemptions obtained in CB3 and CP3 up to 31 December 2028 will continue to be recognized under the transition rules.
Has the IAI CB3 examination been replaced, and what is the current pattern?
Yes. Under the Institute of Actuaries of India (IAI) Education Policy 2026, the current CB3 (Business Management) and CP3 (Communications Practice) subjects will be merged into a single subject called CP3 – Strategic Management and Communication from the November 2027 examination diet.
Currently, CB3 (Business Management) is a 90-minute MCQ exam focusing on business strategy, decision-making, professionalism, ethics, and the business environment relevant to actuaries. CP3 (Communications Practice) assesses the ability to communicate actuarial and technical concepts clearly to non-technical audiences through reports, emails, and presentations.
From November 2027, these two subjects will be replaced by the new CP3 – Strategic Management and Communication, a 3 hour 15 minute written examination that combines strategic business understanding with professional communication skills. The new subject is designed to test both business decision-making and the ability to communicate complex actuarial concepts clearly to stakeholders.
In addition, IAI is introducing CS3 – Data Science: Tools, Techniques & Applications from the May 2027 examination diet. CS3 reflects the growing importance of data science, analytics, artificial intelligence, machine learning, and predictive modelling in actuarial practice and will strengthen students’ quantitative and technological skills.
Under the transition arrangements, students who have passed only CB3 or only CP3 will be given three additional examination diets to complete the remaining subject. Passes and exemptions obtained in CB3 and CP3 up to 31 December 2028 will continue to be recognized under the transition rules.