SOA Exam P: Probability for Actuaries Part 3 (Actuarial)

Are you studying for your first actuarial exam? Do you want to one day work as an Actuary, which is consistently ranked as a top 10 career?

Well then, you’ve come to the right place!

This is where you start. And it is the perfect time to start. Actuaries are in high demand globally. Actuaries can earn a great living and enjoy great job satisfaction.

To become a fully qualified actuary, you have to pass a series of professional exams. Most students start by taking a related university degree. This course along with Part 1 and Part 2 to the course, will provide you with the skills required to pass the first actuarial exam.

Whether you are writing with the Society of Actuaries (SOA) or Casualty Actuarial Society (CAS), this course is for you. The material for SOA Exam P or CAS Exam 1 is covered in this course and Part 1 and 2 to this course.

Part 3 will cover the following areas of the exam:

• Joint Distributions, Marginal Distributions and Conditional Distributions

• Joint Expected Values

• Conditional Expected Values and Conditional Variance

• Covariance and Correlation

• Independence

• Joint Moment Generating Functions

• Law of Total Expectation

• Transformations - Single Random Variables (Discrete and Continuous)

• Transformations - Joint Random Variables

• Sum of Independent Random Variables (Convolution Method and Common Distributions)

• Sum of Independent Random Variables (Moment Generating Functions and Probability Generating Functions)

• Distribution of the Minimum or Maximum of Independent Random Variables

• Order Statistics

• Central Limit Theorem and Bivariate Normal Distribution

• Insurance Related Concepts (Deductibles, Policy Limits, Coinsurance / Proportional Insurance, Security Loadings)

Practice makes perfect with actuarial exams. As such, we have included many practice problems for you to hone your skills. The SOA also provides sample questions and we highly recommend that you practice your skills on these questions as well.

Teaching is my passion!

I have been teaching actuaries around the world since 2014 and have helped 100s of actuaries pass actuarial exams. I have also taught at the University level, teaching courses on probability and mathematical statistics. My teaching style focuses on explaining concepts and then illustrating those concepts with lots of examples. I find that this allows the students to understand the basics and then directly tie the theory to practical applications with practice problems. This sets the students up for success with the actuarial exams that they intend to write.

Why take this course?

This course (along with Part 1 and Part 2) is designed to cover the SOA Exam P/CAS Exam 1 syllabus in entirety. This course is specifically tailored to the actuarial exam. There are a lot of other courses that teach probability and statistics, however, they are more general in nature, whereas this course focuses exclusively on getting you to a passing grade come exam day. My course also offers you lifetime access to the material and was priced at a price point that would be affordable to students around the world.

What you get with this course?

You get access to over 17 hours of video lectures that cover the entire syllabus, split between Part 1, Part 2 and Part 3. You also get access to an electronic manual for the course and over 100 practice questions to hone your skills and prepare you for the actual exam day.