CT Series

Core Technical (CT for short) is the first step towards being an actuary. This series has in all nine actuarial papers that are mandatory (not optional) for all but can be undertaken in any order. Here is a brief description of all the nine papers.

Financial Mathematics
It’s your first peek into the world of finance - of which actuarial science is a sub-domain. You get to learn to deal with various interest rates quotations & compounding frequencies, series of cashflows (annuity), investments and securities with their pricing fundamentals and methodologies, project appraisal, derivatives & arbitrage. Besides, two very important ans useful Actuarial techniques viz. Asset Liability matching (ALM) & immunization. In short, you learn to handle finance in mathematical terms and that is the very foundation of Actuarial Science. Download Time Table Enroll Now

Finance and Financial Reporting
It’s your stepping stone to understand an insurance company’s financial statements from an actuarial professional's viewpoint. What accounting standards of preparing a company’s financial statements have evolved and have been established over time? How and what information can be obtained from such financial statements and how that information can be used for effective decision making for actuarial purposes? Download Time Table Enroll Now

Probability and Mathematical Statistics
It’s your first peek into the understanding and measurement of randomness. You get to learn to handle random variables, probability distributions, estimation and inference and testing various hypotheses - the very bedrock of Actuarial Science. You also get to learn to make use of co-variability i.e. two random variables moving more or less in tandem. This knowledge would remain useful throughout your Actuarial career. Download Time Table Enroll Now

It’s designed to be a first peek - by actuarial science students - into the techniques of extracting order and pattern from the clenched jaws of chaos. How to focus on the essence of things and not to be distracted by the noise around that essence is the core ability for successful modelling exercise. It’s is strongly recommended that this paper is undertaken ONLY after CT3 not before. It’s a good test of your analytical and application skills – the two most prized assets in the Actuarial domain. Download Time Table Enroll Now

General Insurance, Life and Health Contingencies
Notwithstanding its name, it has nothing to do with general insurance. The Actuarial Mathematics and valuation methods covered in CT5 primarily deal with Life Insurance with two chapters devoted to Pension fund valuations. However, some of the actuarial methods and techniques covered can equally be applied to certain Health Insurance products. Its last chapter introduces you to the possible mistakes -leading to faulty Actuarial inferenfe that might be made while analysing past data on deaths, claims or sickness. Download Time Table Enroll Now

Statistical Methods
It’s designed to be a first peek - by actuarial science students - into the world of General Insurance mathematics and how statistical methods are used in actuarial work in general insurance. You get to learn about decision theory, Bayesian Statistics, credibility theory, ruin theory, various loss models, reinsurance arrangements and their benefits, IBNR, run off triangles, Monte Carlo simulations and time series analysis. It is strongly recommended that this paper is undertaken ONLY after CT3 not before. Download Time Table Enroll Now

Business Economics
It’s your window to understanding the functioning of an economy at a micro and a macro level. You get to learn how consumer make their decisions, how the markets function, how the price mechanism allocates scarce resources in an optimal manner, how producers make their production and supply decisions. At macro level, you get to learn to measure economic activity, growth etc. You get to understand government finances and central banking and their impact on the various economic variables of actuarial interest like inflation, employment, GDP, exchange rate, trade deficit, balance of payment etc. Download Time Table Enroll Now

Financial Economics
Not to be carried away by its name, it is important to note that almost three fourths of this paper is devoted to derivatives and their pricing with special emphasis on the celebrated Black-Scholes option pricing formula. Other things that it covers include, CAPM. MPT, APT, Multi-factor and single-factor models, EMH, Behavioural finance, Stochastic dominance, Utility theory under uncertainty & certainty equivalent, interest rate models and credit risk models. All of this important and useful in determining investment strategy consistent with actuarial prudence It’s is strongly recommended that this paper is undertaken ONLY after CT3 and CT4 not before. Download Time Table Enroll Now

Business Awareness Module
It’s your first exposure to the world of actuarial science especially the statue and the regulations governing it. You are also introduced to the code of conduct and code of ethics expected from a professional actuary. You are also trained to think strategically in practical business situations. Of all CT papers, this is the only one conducted online and most students do not find any need for taking tuitions for it. Download Time Table Enroll Now