Casualty Actuarial Society

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Exam 2
Financial Mathematics

The purpose of the syllabus for this examination is to develop knowledge of the fundamental concepts of financial mathematics and how those concepts are applied in calculating present and accumulated values for various streams of cash flows as a basis for use in: reserving, valuation, pricing, asset/liability management, investment income, capital budgeting, and valuing contingent cash flows. The candidate will also be given an introduction to financial instruments, including derivatives, and the concept of no-arbitrage as it relates to financial mathematics.

The Financial Mathematics Exam assumes a basic knowledge of calculus and an introductory knowledge of probability.

Registration, Dates & Fees

Registration Dates and Fees depend on which exam candidates are taking and with which of the organizations. Please visit the invidual websites of the organizations for details on dates and fees:

The CAS also recognizes the exam waivers granted by the Canadian Institute of Actuaries University Accreditation Program for Exams 2, 3F, and 4.

The CAS recognizes the preliminary examinations sponsored by the China Association of Actuaries (CAA). Credit will be granted for examinations passed or waived as a cohort for CAA exams A1, A2, A3, A4, and A7.

Exam Rules

Exam Rules and Regulation for 2018 exams

Preparation for Exam 2

Syllabus Material

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