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Exam P/CAS 1 | Exam FM/CAS 2 | Exam MLC  | Study Guides

For the Fall 2009 session, the Exam C (CAS 4) review seminar will be offered in New York. The seminar fee is $675. The schedule and locations are as follows.

  New York
Monday October 5 to Thursday October 8 (9AM to 5PM, 3 1/2  days)
SLC Conference Center,
352 – 7th Avenue, New York NY,
(note that the SLC Conference Center is not a hotel, it has meeting rooms only)

In the seminars, the aim is to review all course topics in as much detail as possible in the allotted time, with an emphasis on developing efficient problem identification and problem solving skills. Much of the seminar will be lecture format, in which important underlying concepts will be reviewed along with presentation of solutions to many former exam and exam-related problems. Prof. Broverman is available by e-mail and telephone, both before and after the seminar for questions that arise relating to the exam and the seminar study material. At the seminar, there will be time for questions in both a group and individual setting.

The recommended advance study material for the Exam C review seminar is the ACTEX study guide for Exam C for which Prof. Broverman is the author. The seminar fee of $675 does not include the ACTEX study guide for Exam C. If you do not have a copy, one can be obtained from the publisher at the following link: ACTEX/Mad River Publications

The table of contents and an excerpt from the study guide in PDF form can be found at the following link: Exam C Study Manual Excerpt  

The ACTEX Exam C study guide is in two volumes. Volume I contains notes, examples and problem sets on the modeling topic and the model estimation topic. Volume 2 contains notes, examples and problem sets for the credibility topic and the simulation topic, as well as 14 practice exams and the May 2007 exam with solutions. There are about 200 examples in the notes and over 700 problems in the problem sets, all with detailed solutions. Each of the 14 practice exams has 35 questions, all with detailed solutions.

A current list of updates and errata for the past few editions can be found at the following link:
Update and Errata List For The Exam C Study Guide  

Participants are urged to thoroughly review the study guide material and exam catalog reference material prior to the seminar.

I have prepared a suggested pre-seminar study schedule for Exam C: Exam C Study Schedule

The EXAM C (SOA/CAS) exam can be approximately divided into the four main topics of loss and survival modeling (20%), model estimation (40%), credibility (30%), and simulation (10%). If you wish, you may register for loss/survival modeling only ($200), model estimation only ($275), or credibility only ($200). If you are registering for only one part of the seminar, please indicate this clearly on the registration form.


The seminar will be conducted according to the following approximate schedules for Chicago and New York:

Day 1
 9:00 – 10:00
- Distribution mixtures, double expectation rules
10:10 – 11:00 - Policy limit and deductible
 11:10 – 12:00 - Policy limit and deductible, models for the number of claims (frequency), the (a,b,0) class and the (a,b,1) class
 Lunch -  
 1:00 – 2:00 - Compound distributions
2:10 – 3:00 - Stop loss insurance, discrete time ruin models
   3:10 – 4:00 - Empirical estimation for individual data, empirical smoothed estimate of a percentile
   4:10 – 5:00 - Kernel smoothing, empirical estimation for grouped data, product-limit estimation,
Day 2
 9:00 – 9:50
- Product-limit estimation, Nelson-Aalen estimation
 10:00 – 11:00 - Moment estimation, percentile matching
 11:10 – 12:00 - Maximum likelihood estimation
12:00 – 1:00 - Lunch
   1:10 – 2:00 - Maximum likelihood estimation, variance of estimators, Greenwood’s approximation, linear and log-transformed confidence intervals
   2:10 – 3:15 - Variance of the maximum likelihood estimator, the delta method for finding the variance of a transformed estimate
  3:30 – 5:00 - Graphical methods for comparing an estimated model to a data set, tests of fit for an estimated model, Schwartz Bayesian criterion, likelihood ratio test
Day 3
9:00 – 10:00
- Limited fluctuation credibility, full credibility standard and partial credibility
10:10 – 11:00 - Review of Bayesian probability methods, the Bayesian credibility framework, Bayesian credibility with a discrete prior distribution
11:10 – 12:00 - Bayesian credibility with a continuous prior distribution
12:00 – 1:00 - Lunch
1:00 – 2:00 - Bayesian credibility with a continuous prior distribution
2:10 – 3:40 - Buhlmann credibility
3:30 – 5:00 - Nonparametric and semiparametric empirical Bayesian credibility
Day 4
– 10:15
- The inverse transform method of simulation
10:25 – 11:30 - The bootstrap approximation to the mean square error of an estimator

To register for the seminar, you can use the on-line pre-registration form on the home page , or use the mail-in registration form , or e-mail me directly at

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