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What is CS1 – Actuarial Statistics?
CS1 (Actuarial Statistics) is a core subject in both the IFoA (UK) and IAI (India) actuarial curriculums. It introduces future actuaries to foundational statistical concepts and data science techniques used across insurance, pensions, investments, and healthcare analytics.
Often referred to as "the data science foundation for actuaries", CS1 blends probability, inference, regression, and practical R programming.
CS1 Paper-Wise Weightage: IFoA vs IAI
Understanding how CM1 is evaluated is crucial to planning your preparation. While both Paper A and Paper B carry 100 marks each, the overall weightage differs slightly between the IFoA and IAI systems.
IFoA (UK) Exam Weightage
| Paper | Marks | Weightage in Final Score |
|---|---|---|
| CS1 Paper A | 100 | 70% |
| CS1 Paper B | 100 | 30% |
- The IFoA combines both Paper A and Paper B scores, applying a 70:30 weighting to calculate the final result.
- You must sit both papers in the same attempt to pass CS1 under IFoA.
IAI (India) Exam Weightage
| Paper | Marks | Weightage in Final Score |
|---|---|---|
| CS1 Paper A | 100 | 50% |
| CS1 Paper B | 100 | 50% |
- The IAI gives equal weight to Paper A and Paper B (50% each).
- Both parts must be attempted together, and a combined pass mark is required to clear CS1.
CS1 Paper A – Theoretical & Conceptual (3 hrs 20 mins)
This paper tests core mathematical and statistical techniques essential for modeling, estimation, and prediction.
Key Topics:
- Data Analysis: Summary statistics, visualization, PCA
- Distributions & Random Variables: Normal, Poisson, Binomial, etc.
- Statistical Inference: Estimators, confidence intervals, hypothesis testing
- Regression Theory: Simple/multiple linear regression, GLMs
- Bayesian Statistics: Prior/posterior distributions, credibility theory
This is a typed Word document, focusing on conceptual understanding, logic, and precise calculations.
CS1 Paper B – R Programming & Report Writing (1 hr 50 mins)
A practical exam designed to evaluate your ability to apply CS1 concepts using R and communicate your results clearly.
What You’ll Do:
- Import and clean data
- Perform regressions, statistical tests, and simulations
- Create visualizations
- Write structured reports in MS Word using R outputs
Tools used: RStudio + MS Word (no Excel)
Requires logical application and technical writing, not just coding.
CS1 Topic Weightings (IFoA 2025)
| Topic Area | Weightage |
|---|---|
| 1. Data Analysis | 10% |
| 2. Distributions & Random Variables | 20% |
| 3. Statistical Inference | 25% |
| 4. Regression Theory & GLMs | 30% |
| 5. Bayesian Statistics | 15% |
CS1 Chapter-Wise Tutorial Plan (2025 Updated)
| Part | Chapters Covered | Tutorial Day |
|---|---|---|
| 1 | Data, Probability, Generating Functions | Day 1 |
| 2 | Sampling, Inference, Estimation | Day 2 |
| 3 | Hypothesis Testing, Correlation, Regression | Day 3 |
| 4 | GLMs, Bayesian Inference, Credibility Theory | Day 4 |
Why CS1 is Essential for Your Actuarial Career
- Builds analytical foundation for roles in pricing, valuation, and reserving
- Closely connected with CS2, CM2, and SP5/SP7
- Equips you with statistical and programming tools used by actuaries globally
Preparation Strategy for CS1
- Practice R consistently alongside theory
- Focus on conceptual clarity – Paper A is more than formulas
- Attempt at least 3 mocks for both papers
- Use IFoA/IAI past papers and get timely doubt-solving support
How SMONK Prepares You for CS1 Success
- Live + Recorded Lectures (updated for IFoA 2025)
- Hands-on R Programming workshops with real datasets
- Paper A + Paper B Mock Exams with feedback
- Weekly doubt sessions & one-on-one mentorship
- BONUS: Enroll now and get an R Project Pack worth ₹1500 absolutely free!
Take the First Step Today
Whether you're writing your first actuarial exam or pivoting into this field, CS1 is your launchpad into the analytical world of actuarial science. Join SMONK’s CS1 coaching program and build a solid statistical foundation to stand out in your actuarial journey.