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Introduction
We know you have a choice when purchasing study materials for the CAS exams, and we want to make it as easy
as possible for you to make the right choice. Naturally, your evaluation will take into consideration how well each
program covers the questions that you will ultimately have to answer. To that end we have prepared this
"Litmus Test Report" assessing how our recent Study Programs covered the questions that were actually asked on
the CAS Exams.
If you can't find this information on a competitor's website, just ask them for it. They should be able
to provide it easily.
How To Use This Report
For convenience, we've grouped the questions on the CAS Exam into Syllabus Sections. Click on a year
to select it, then click on a Syllabus Section header to expand it. The column ALL 10 Supporting
Material contains references to components of our study program (Study Manuals, Online Study Guide,
Pre-Populated Notecards, etc.) that prepared our customers for the given question. In this field, you
may see a hyperlink ( ) that will open a PDF file
containing excerpts from prior years' study materials.
 2007 CAS Exams (Rough Breakdown: Comp: 25 Qs worth 76 points, Essay: 11 Qs worth 24 points)
A. Classification Ratemaking
| Question # | Type | Article | ALL 10 Supporting Material |
|---|
| 1 |
Essay |
Risk Classification Statement of Principles |
See section 4 in our manual; question 46 from the 2002 exam and question 1 from the 2005 exam (this concept has been additionally tested at other times); Commented in our Online Study guide, Prepopulated Notecard created for this; Concept tested in Online Exams; |
| 2 |
Comp |
...Credibility of Experience of a Single Private Passenger Car |
Manual; Past CAS Questions: 06,2; '04,2; '03,22 and others; OnLine Study Guide; NoteCards
|
| 3 |
Essay |
Risk Classification in Life Insurance |
Manual Sections 3 and 4; Past CAS Questions: '05,4 and '03,23 and others; OnLine Study Guide; NoteCards
|
| 4 |
Essay |
Guide to GLMs |
Manual Sections 2 and 3; OnLine Study Guide; NoteCards
|
| 5 |
Comp |
Minimum Bias Procedure |
Manual Section 1; Past CAS Questions: '03,24; '02,45; '00,15 and others; OnLine Study Guide; NoteCards
|
| 6 |
Essay |
An Example of Credibility and Shifting Risk Parameters |
Manual See Section 4.2; Past CAS Questions: '03,21; '00,34 and others; OnLine Study Guide; NoteCards
|
 B. Cost of Layers of Risk
| Question # | Type | Article | ALL 10 Supporting Material |
|---|
| 7 |
Comp |
On the Theory of Increased Limits and Excess of Loss Pricing |
Manual Section 1 and Section 4l; Past CAS Questions: '05,6; '99,40; '98,34 and others; OnLine Study Guide; NoteCards
|
| 10 |
Essay |
On the Theory of Increased Limits and Excess of Loss Pricing |
Manual Section 1 and Discussion; Past CAS Questions: 06,6; '03,13; '01,11 and others; OnLine Study Guide; NoteCards
|
| 34 |
Comp |
Table M Construction |
Manual Sections 9 and 10; Past CAS Questions: '06,9; '05,8; OnLine Study Guide; NoteCards
|
C. Pricing of Catastrophic Events
| Question # | Type | Article | ALL 10 Supporting Material |
|---|
| 12 |
Comp |
Homeowners Ratemaking Revisited |
Manual Section 9; Past CAS Questions: '06,11; ;05,11; OnLine Study Guide |
D. ROR, Risk Loads, Contingency
| Question # | Type | Article | ALL 10 Supporting Material |
|---|
| 13 |
Essay |
...Underwriting, Investment, Leverage, and Exposure to Total ROE |
Manual Balcarek's Review; Past CAS Questions: '06,18; '99,19, '97,1; OnLine Study Guide; NoteCards
|
| 14 |
Essay |
Analysis of Surplus and Rate of Return Without Using Leverage Ratios |
Manual Yes; Past CAS Questions: '05,12; '04,11; '02,4; OnLine Study Guide; NoteCards
|
| 15 |
Comp |
Pricing Insurance Policies: The IRR Model |
Manual Section 1; Past CAS Questions: '05,18; '04,31; 00,27; OnLine Study Guide
|
| 17 |
Comp |
The Underwriting Profit Provision |
Manual Yes (Ferrari and Sec F. Robin); Past CAS Questions: '06,18; '05,20; '04,36 and others; OnLine Study Guide; NoteCards
|
| 18 |
Comp |
The Underwriting Profit Provision |
Manual Section F; Past CAS Questions: '06,17; 04,36; 04,13 and ot; OnLine Study Guide; NoteCards |
| 19 |
Comp |
The Underwriting Profit Provision |
Past CAS Questions: '03,45; '96,47; '95,47; OnLine Study Guide; NoteCards
|
| 20 |
Essay |
An Application of Game Theory |
Manual Section 10; OnLine Study Guide |
| 21 |
Comp |
Pricing Insurance Policies: The IRR Model |
Manual Section 6; Past CAS Questions: '04,30; '00,27; OnLine Study Guide
|
| 22 |
Comp |
Pricing Insurance Policies: The IRR Model |
Manual Section 3; Past CAS Questions: '06,15; OnLine Study Guide; NoteCards |
| 23 |
Comp |
An Application of Game Theory |
Manual Sections 5 and 6; OnLine Study Guide |
| 24 |
Comp |
Discussion: Risk Load for Insurers |
Manual Section 2; Past CAS Questions: '00,28; OnLine Study Guide; NoteCards
|
E. Individual Risk Rating
| Question # | Type | Article | ALL 10 Supporting Material |
|---|
| 25 |
Comp |
1998 Adjustment to the Experience Rating Plan |
Manual Section 2 and 4; Past CAS Questions: '05,24; '02,31; '99,28; OnLine Study Guide: Somewhat; NoteCards |
| 26 |
Essay |
Experience Rating Equity and Predictive Accuracy |
Manual Section 9; Past CAS Questions: Numerous; OnLine Study Guide
|
| 27 |
Comp |
Experience and Schedule Rating Plans Applicable to GL |
Manual Yes; Past CAS Questions: Numerous; OnLine Study Guide; NoteCards
|
| 28 |
Comp |
ER Plan Manual for WC and EL Insurance |
Manual Yes; Past CAS Questions: 06,24; 02,33; OnLine Study Guide; NoteCards
|
| 29 |
Essay |
WC Experience Rating: What Every Actuary Should Know |
Manual Section 4; Past CAS Questions: '06,26; 04,42; 03,6 and others; NoteCards
|
| 30 |
Comp |
Fundamentals of Individual Risk Rating - Part 2 |
Manual Section 4; Past CAS Questions: Numerous; OnLine Study Guide; NoteCards: Somewhat
|
| 31 |
Comp |
The Mathematics of Retrospective Rating: Section 4 |
Manual Section 4 (Table 18)
|
| 32 |
Comp |
Table M Construction |
Past CAS Questions: '06,9: OnLine Study Guide: Somewhat; Notecards: Somewhat
|
| 33 |
Comp |
Pricing Aggregates on Deductible Policies |
Manual Sections 4 and 5; Past CAS Questions: '06,36; 04,46; 03,35; OnLine Study Guide; NoteCards
|
| 35 |
Comp |
Fundamentals of Individual Risk Rating - Part 2 |
Manual Section 5; Past CAS Questions: '97,23; '97;22
|
| 36 |
Comp |
Pricing WC Large Deductible and Excess Insurance |
Manual Yes; Past CAS Questions: '06,33; '02,44; '02,1; OnLine Study Guide; NoteCards
|
- No Syllabus Section Selected -
| Question # | Type | Article | ALL 10 Supporting Material |
|---|
| 8 |
Comp |
Estimating Pure Premiums by Layer |
Question associated with article no longer on current syllabus. |
| 9 |
Comp |
Retrospective Rating: Excess Loss Factors |
Question associated with article no longer on current syllabus. |
| 11 |
Comp |
Estimating Pure Premiums by Layer |
Question associated with article no longer on current syllabus. |
| 16 |
Essay |
Determining the Proper Interest Rate for Loss Reserves |
Question associated with article no longer on current syllabus. |
|
2008 CAS Exams (Rough Breakdown: Comp: 25 Qs worth 78.5 points, Essay: 11 Qs worth 21.5 points)
A. Classification Ratemaking
| Question # | Type | Article | ALL 10 Supporting Material |
|---|
| 1 |
Essay |
Risk Classification Statement of Principles |
Manual Sec 3; Past CAS Questions 95,5; 96,17; etc; OnLine Study Guide; NoteCards
|
| 2 |
Essay |
Risk Classification Statement of Principles |
Manual Sec 4;Past CAS Questions 04,23 |
| 3 |
Essay |
Guide to GLMs |
Manual Sec 6; OnLine Study Guide
|
| 4 |
Essay |
Minimum Bias Procedure |
Manual Sec 1; OnLine Study Guide
|
| 5 |
Comp |
...Credibility of Experience of a Single Private Passenger Car |
Manual; Past CAS Questions 01,22,etc; OnLine Study Guide; Article Formulas
|
| 6 |
Comp |
Minimum Bias Procedure |
Manual Sec 1; Past CAS Questions 96,43; etc; OnLine Study Guide; Article Formulas
|
B. Cost of Layers of Risk
| Question # | Type | Article | ALL 10 Supporting Material |
|---|
| 20 |
Comp |
Discussion of Retro Rating: 1997 ELFs |
Manual Sec 2-5; OnLine Study Guide; Article Formulas |
| 26 |
Comp |
On the Theory of Increased Limits and Excess of Loss Pricing |
Manual Sec 1 & 4; Past CAS Questions 92,40; 98,34; 05,6; OnLine Study Guide; NoteCards; Article Formulas |
| 27 |
Comp |
On the Theory of Increased Limits and Excess of Loss Pricing |
Manual; Past CAS Questions; 06,6; 07,10; OnLine Study Guide;
Article Formulas |
| 34 |
Comp |
WC Excess Ratios |
Manual Sec 4-6, & Appendix; OnLine Study Guide; Article Formulas |
C. Pricing of Catastrophic Events
| Question # | Type | Article | ALL 10 Supporting Material |
|---|
| 7 |
Comp |
Homeowners Ratemaking Revisited |
Manual Sec 9 & 10; Past CAS Questions 05,11; 06,11; 07,12; OnLine Study Guide; Article Formulas
|
D. ROR, Risk Loads, Contingency
| Question # | Type | Article | ALL 10 Supporting Material |
|---|
| 8 |
Comp |
Pricing Insurance Policies: The IRR Model |
Manual Sec 1; Past CAS Questions 98,29; 00,27; 02,22; etc; OnLine Study Guide; Article Formulas |
| 9 |
Essay |
Pricing Insurance Policies: The IRR Model |
Manual Sec 3; Past CAS Questions 96,27; 05,16; OnLine Study Guide; Notecards
|
| 10 |
Comp |
Discussion: Risk Load for Insurers |
Manual Sec 2; Past CAS Questions 00,28; 06,20; 07,24; Notecards; Article Formulas |
| 11 |
Comp |
An Application of Game Theory |
Manual Sec 5-11; Past CAS Questions 07,20; 07,23; Past CAS Questions; OnLine Study Guide; Article Formulas |
| 12 |
Comp |
The Underwriting Profit Provision |
Manual Sec E; Past CAS Questions 94,45; 96,47; 05,13; OnLine Study Guide; Notecards; Article Formulas |
| 13 |
Comp |
Analysis of Surplus and Rate of Return Without Using Leverage Ratios |
Manual;Past CAS Questions 94,32; 98,25; 00,10; etc; OnLine Study Guide; Notecards; Article Formulas |
| 14 |
Comp |
The Underwriting Profit Provision |
Manual Sec E; Past CAS Questions 95,47; 99,26; 03,45; etc; OnLine Study Guide; Notecards; Article Formulas |
| 15 |
Comp |
The Underwriting Profit Provision |
Manual Sec F; Past CAS Questions 98,31;00,26;,01,40;etc; OnLine Study Guide; Notecards; Article Formulas |
| 16 |
Comp |
Investment-Equivalent Reinsurance Pricing |
Manual Sec 3 & 4; OnLine Study Guide
|
| 17 |
Comp |
...Underwriting, Investment, Leverage, and Exposure to Total ROE |
Manual; Past CAS Questions 93,24; 95,37; 98,24;etc; Article Formulas
|
| 18 |
Essay |
Pricing Insurance Policies: The IRR Model |
Manual Sec 3; OnLine Study Guide |
| 19 |
Essay |
Insurance Profitability |
Manual Sec 6-8; Past CAS Questions 05,01; 02,46; OnLine Study Guide; NoteCards
|
E. Individual Risk Rating
| Question # | Type | Article | ALL 10 Supporting Material |
|---|
| 21 |
Essay |
1998 Adjustment to the Experience Rating Plan |
Manual Sec 1-4; Past CAS Questions 99,28; OnLine Study Guide; NoteCards
|
| 22 |
Comp |
WC Experience Rating: What Every Actuary Should Know |
Manual Sec 4; Past CAS Questions 95,43; 04,42; NoteCards;
Article Formulas |
| 23 |
Essay |
Experience Rating Equity and Predictive Accuracy |
Manual Sec 4-5; Past CAS Questions 93,49; 95,42; 04,39; OnLine Study Guide; Article Formulas |
| 24 |
Comp |
Experience and Schedule Rating Plans Applicable to GL |
Manual; Past CAS Questions 94,44; 97,33; 98,41; etc; OnLine Study Guide; NoteCards; Article Formulas |
| 25 |
Comp |
ER Plan Manual for WC and EL Insurance |
Manual; Past CAS Questions 98,20; 00,42; 02,33; etc; OnLine Study Guide; NoteCards; Article Formulas |
| 28 |
Comp |
Table M Construction |
Manual Sec 7 & 8; Past CAS Questions 05,8; 06,9; OnLine Study Guide; NoteCards; Article Formulas |
| 29 |
Comp |
The Mathematics of Retrospective Rating: Section 4 |
Manual; Past CAS Questions 91,47; 94,48; 06,29; OnLine Study Guide; Article Formulas |
| 30 |
Comp |
Pricing Aggregates on Deductible Policies |
Manual Sec 4 & 5; Past CAS Questions 04,46; 05,36; 06,36; OnLine Study Guide; NoteCards; Article Formulas |
| 31 |
Comp |
Pricing WC Large Deductible and Excess Insurance |
Manual; Past CAS Questions 99,42; 02,1; 04,48; etc; OnLine Study Guide; NoteCards; Article Formulas |
| 32 |
Comp |
The Mathematics of Retrospective Rating: Section 4 |
Manual; Article Formulas |
| 33 |
Essay |
Pricing Aggregates on Deductible Policies |
Manual Sec 6
|
| 35 |
Essay |
The California Table L |
Manual Sec 6 & Gillam Review; Past CAS Questions 00,45; 02,38; OnLine Study Guide; NoteCards; Article Formulas |
| 36 |
Comp |
Retro Rating Plan Manual for WC and EL |
Manual; Past CAS Questions 96,30; 02,35; 04,45; OnLine Study Guide; Article Formulas |
|
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