CS1A – Actuarial Statistics

Course Overview

CS1A provides a comprehensive foundation in the theoretical principles of actuarial statistics. The course is designed for students looking to build strong statistical intuition and analytical capability through the study of probability distributions, statistical inference, regression analysis, and Bayesian methods—critical areas for actuarial practice and financial risk modeling.

Key Focus Areas

• Probability theory and commonly used distributions

• Expectation, variance, and properties of random variables

• Principles and applications of estimation techniques (MLE, method of moments)

• Confidence intervals and hypothesis testing for various statistical models

• Regression theory, linear and multiple regression modeling

• Introduction to generalised linear models (GLMs) and model evaluation

• Fundamentals of Bayesian statistics and credibility theory

Course Outcome

This course prepares students to engage with real-world data in a structured manner, ensuring they have the statistical rigor required to interpret, model, and evaluate complex actuarial problems. The training aligns with the IFoA CS1A paper and lays the groundwork for advanced actuarial modules including CS2, CM2, and SP-level exams.