CM1B – Actuarial Mathematics (Excel Modelling)

Course Overview

CM1B focuses on translating actuarial concepts into spreadsheet-based models, aligned with IAI & IFoA’s practical exam structure. This course enables students to implement deterministic cashflow models, perform premium and reserve calculations, and apply Excel to simulate profit testing, valuation, and actuarial analysis techniques with precision and clarity.

What the Course Covers

• Implementation of actuarial models in Excel

• Cashflow projections for insurance products

• Calculation of present and accumulated values using dynamic inputs

• Premium and reserve calculations using both prospective and retrospective methods

• Recursive relationships, death strains, and mortality profit models

• Profit testing for conventional and with-profits contracts

• Spreadsheet-based pricing techniques for life insurance and annuity products

Course Outcomes

By the end of CM1B, students will be proficient in developing and interpreting spreadsheet-based actuarial models. The course is structured to meet all practical assessment requirements of the IFoA CM1B paper and equips students with hands-on modelling skills used in industry.