Exam preparation

The PCPA Exam differs from other exams. It is two hours long and focuses on concepts and understanding rather than complex calculations. Review the Content Outline, focus on source material, and read through the Success Criteria for the Project. Some candidates find using a study prep vendor helpful, but it is not required.

Project preparation: Before the project window

Candidates must pass the exam three weeks prior to the beginning of the project window. Specific dates can be found in the PCPA Content Outline. The project is offered four times per year.

Picking a language

The project must be completed in SAS, R, and Python. If you are not familiar with any of these, do some research and choose a language you think will be helpful for your career. For example, if you know the actuaries at your company use R, then pick R. If you work closely with data scientists who use Python, then pick Python. Each programming language has its pros and cons, so consider this when choosing which language to use.

Model coding basics

Practice building a model before starting your project. There are many great resources online to help you learn to do this, including the CAS “Building a GLM from Start to Finish” course. The course is available at a discount through the end of 2026 with the discount code provided via email confirmation once you pass the PCPA Exam. This course walks you through building a model and explains what you should consider from an actuarial perspective. Download and review the provided script files.

Coursera.org also has courses on data analysis with Python/R that walk through the steps in the modeling process. YouTube also has numerous videos on coding concepts. If you know other actuaries or data scientists who code, ask them if they have any advice or recommended videos and materials.

Outline your project

By now, you should have an idea of what you need to do to build a model. Use a Jupyter notebook, Markdown, or comments in your code to outline the steps in your project. It may be helpful to include specific code snippets for easy reference while you are writing your code. Keep in mind that if you are using a notebook, you will need to convert it to a script file before submitting your code.

Additional CAS resources

The PCPA page on the CAS website has a list of FAQs. Read through those to get an idea of what to expect when the project window starts. I highly recommend reading the PCPA Post Project Summary (found on the CAS Post Exam Summary webpage) before you start your project so you can see some of the common errors from previous windows.

During the project window

Datasets and project instructions

When the project window opens, you will receive an email from the project portal. The email will provide a link to a project page containing all the information needed to complete and submit the project. Read the project instructions very carefully: There are specific guidelines about the file types and names for your final files. You will need to provide a final report, code file, and additional outputs from your code.

Model review

Frequently review your code to ensure it performs as intended. For example, compare your exploratory data analysis findings with your predictions by category — are your findings reasonable? Are your relativities as expected? These and similar considerations can be found in the CAS GLM course.

Final report review

It is important to ensure your report clearly explains the assumptions and results of your project. Ensure your report is within the 1,250 word limit and also ensure that any indication of your name or identity has been removed. The CAS GLM course has a section about what to consider when you are writing a final report.

Project submission

Plan to submit your project a day or two before the deadline, and do not wait until the last minute. Some company computers may encounter issues during file submission, so plan to submit early so that you can reach out for help if any issues occur.