CS1-Actuarial Statistics - All English

CS1-Actuarial Statistics – All English

₹25,700.00

CS1: Actuarial Statistics – Regular Course.
Faculty: Praveen Patwari & Siddharth Sonthalia
Course Duration: 150+ hours

Category:

CS1 – Actuarial Statistics

Build Strong Foundations in Probability, Statistical Modelling and Data Analysis

CS1 – Actuarial Statistics is one of the Core Principles subjects in the actuarial qualification pathway offered by the Institute and Faculty of Actuaries (IFoA), UK, and the Institute of Actuaries of India (IAI).

The subject introduces the mathematical and statistical techniques used to analyse data, model uncertainty, understand probability distributions and evaluate financial and insurance risks.

CS1 combines probability theory, statistical inference, regression analysis, Bayesian statistics and practical statistical computing using R, forming an essential foundation for actuarial modelling and risk analysis.

It develops the analytical, statistical and computational skills required to interpret data, assess uncertainty and apply statistical models to real-world actuarial problems.

Course Structure & Syllabus

CS1 combines theoretical statistical concepts with practical data analysis and modelling using R programming.

Key Topics Covered:

  1. Data Analysis & Statistical Techniques:
    Data collection, descriptive statistics, measures of central tendency and dispersion, correlation, data visualisation and exploratory data analysis.
  2. Probability Theory & Random Variables:
    Probability distributions, conditional probability, independence, expectation, variance, covariance and moment-generating functions.
  3. Statistical Distributions:
    Binomial, Poisson, Normal, Exponential, Gamma and other probability distributions, sampling distributions and the Central Limit Theorem.
  4. Statistical Inference & Estimation:
    Maximum likelihood estimation, method of moments, confidence intervals, hypothesis testing, goodness-of-fit tests and statistical decision-making.
  5. Regression Analysis:
    Simple and multiple linear regression, model fitting, parameter estimation, residual analysis and statistical forecasting.
  6. Generalised Linear Models (GLMs):
    Exponential family distributions, link functions, parameter estimation, model selection and applications to actuarial data.
  7. Bayesian Statistics & R Programming:
    Prior and posterior distributions, Bayesian estimation, statistical simulations, data manipulation, regression modelling and practical applications using R.

The CS1 syllabus focuses on statistical reasoning, probability modelling, data interpretation, regression analysis and practical statistical computing, developing essential skills for actuarial and financial risk analysis.

Syllabus Topics & Weightages

The CS1 syllabus comprises five principal areas, with the following indicative weightages under the IFoA curriculum:

Topic Weightage
Data Analysis 10%
Random Variables and Distributions 20%
Statistical Inference 25%
Regression Theory and Applications 30%
Bayesian Statistics 15%
Total 100%

These weightages indicate the approximate syllabus coverage. Actual question distribution may vary between examination sittings.

Examination Structure

CS1 consists of two compulsory components: CS1A (Theory) and CS1B (Practical).

Both papers must be attempted during the same examination sitting.

Particulars IAI (India) IFoA (UK)
Paper A – Theory Objective + Descriptive Descriptive
Paper A Duration 3 Hours 15 Minutes 3 Hours 20 Minutes
Paper A Weightage 70% 70%
Paper B – Practical R-Based R-Based
Paper B Duration 1 Hour 45 Minutes 1 Hour 50 Minutes
Paper B Weightage 30% 30%
Examination Mode Centre-Based Online In-Person at Exam Centres or Remotely Invigilated Online

Important Examination Guidelines

  • Paper A: Evaluates theoretical concepts, statistical calculations, probability models and analytical problem-solving. IAI includes objective and descriptive questions, while IFoA follows a descriptive examination format.
  • Paper B: Tests the practical application of statistical techniques, data analysis and modelling using R programming.
  • Combined Assessment: Paper A contributes 70% and Paper B contributes 30% towards the final examination score.
  • IFoA Examination Mode: Students can indicate their preference to appear at an authorised examination centre or remotely through online invigilation. Final allocation is subject to availability and IFoA examination guidelines.
  • IAI Examination Mode: Examinations are conducted online at designated examination centres in accordance with IAI’s current examination arrangements.
  • Examination Requirements: Students must follow their respective institute’s guidelines regarding permitted calculators, actuarial tables, R software and examination conduct.

Passing Criteria

The passing requirements differ between IAI and IFoA.

Institute Passing Requirements
IAI (India) Minimum 30% in each paper and 50% aggregate
IFoA (UK) Combined weighted marks must meet the pass mark determined for the examination sitting

Important Information:

  • Both Paper A and Paper B must be attempted in the same examination session.
  • IAI requires candidates to satisfy both the individual paper minimum and the overall aggregate passing requirement.
  • IFoA determines the passing mark for each examination sitting and does not prescribe a separate minimum passing mark for each paper.
  • Candidates who do not clear CS1 must attempt both components again in a subsequent examination sitting.

Eligibility Criteria

CS1 is a Core Principles examination suitable for students beginning their actuarial qualification journey.

  • Students can pursue CS1 through the IAI or IFoA examination pathway, subject to the respective institute’s eligibility and registration requirements.
  • A strong foundation in mathematics, probability and basic statistics is recommended.
  • No prior actuarial examination pass is required before attempting CS1 under the IFoA pathway.
  • Students should have basic familiarity with computers and be prepared to learn R programming for the practical examination.
  • Students must fulfil the applicable membership, registration and examination entry requirements of their selected actuarial institute.

Learning Objectives

Studying CS1 develops the ability to:

  • Understand and apply probability theory and statistical distributions.
  • Analyse and interpret financial and insurance data.
  • Apply statistical estimation and hypothesis testing techniques.
  • Develop and evaluate regression models.
  • Understand generalised linear models and their applications.
  • Apply Bayesian statistical methods.
  • Perform statistical calculations and simulations using R.
  • Develop analytical reasoning and quantitative risk assessment skills.

Practical Applications of CS1

The knowledge gained in CS1 is applicable across several actuarial, financial and analytical disciplines:

  1. General Insurance: Analysing claims frequency, claim amounts, risk characteristics and insurance data.
  2. Life & Health Insurance: Statistical analysis of mortality, morbidity and policyholder experience.
  3. Banking & Finance: Statistical risk modelling, financial data analysis and quantitative forecasting.
  4. Data Science & Analytics: Applying R programming, regression models and statistical techniques to analyse complex datasets.
  5. Risk Management: Quantifying uncertainty, estimating probabilities and supporting data-driven risk assessment.

CS1 establishes the statistical foundation required for advanced actuarial subjects, particularly CS2 – Risk Modelling and Survival Analysis, while also supporting the mathematical and modelling techniques used in CM1 and CM2.

Technical Requirements – AEI Learning Application

To access online classes, recorded lectures and digital study resources, students must ensure their devices meet the following minimum technical requirements of the Actuators Educational Institute (AEI) Learning Application.

Device / Platform Minimum Requirement
Android Android 9.0 or above
Windows PC / Laptop Windows 10 or above
iPhone / iPad (iOS) iOS 12.0 or above
MacBook / iMac (macOS) Apple M1 chip or above with macOS 14 or later
WHAT YOU WILL GET

Course Deliverables

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Recorded Lectures (A + B )
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Softcopy of AEI Own Study Materials
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Access to Student Dashboard
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Technical Support
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Chapter Wise MCQ Bank
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Regular Mentoring Sessions & Industry Expert Sessions
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Live Concept Classes ( A + B )
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Mock Test with Detailed Evaluation (6 Sets)
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Hard Copy of AEI Own Compiler
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Course Extension (2 More Terms)
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Interactive Q & A Forum

Mokshit KothariAIR 1
Shruti MishraAIR 1
Vishakha AgarwalAIR 1
Adarsh Agarwal97
Siddharth Sonthalia95
Manchite Chaudhary94
Nishtha Shah92
Sparsh Modi91
Aditi Agarwal90
Aman Shah90
Chirag Gupta90
Juhi Goyal90

FACULTY

Meet The Instructor


Praveen Patwari is a Chartered Accountant (CA), Financial Risk Manager (FRM) and Associate of the Institute of Actuaries of India (AIAI), with additional professional credentials including CIRA, CCRA, CIDT, CIIB and NISM Series VIII (Equity Derivatives). With over 15 years of experience in finance, actuarial education, mentoring and professional training, he has built a strong reputation for simplifying complex concepts and guiding students across multiple professional pathways.

As the Founder and Lead Mentor at Actuators Educational Institute (AEI), Praveen has taught and mentored 50,000+ students across Actuarial Science, FRM, CFA, finance and related professional programmes. He has mentored numerous rankers and top-performing students and is a regular speaker at leading institutions including SRCC, Miranda House, Hansraj College, Lady Shri Ram College, St. Xavier’s College, NMIMS, Ramjas College, NM College and HR College of Commerce.

Siddharth Sonthalia is a Qualified Actuary and member of the Institute and Faculty of Actuaries (IFoA), with around six years of experience in the Life Insurance domain. A graduate in Economics from St. Xavier’s College, Kolkata, he has worked extensively with actuarial modelling software and brings strong practical exposure to actuarial analysis and insurance applications.

At Actuators Educational Institute, Siddharth teaches CS1, CS2 and SOA Exam PA. He is also a faculty member at Christ University, Bangalore, for its Master’s in Actuarial Sciences Programme. His teaching approach focuses on conceptual clarity, statistical reasoning and practical application, helping students connect actuarial theory with real-world modelling and analytics.

PLAYLIST

Demo Class Videos


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