CAA Module 5 Resource Guide - Models and Audit Trails

Sep 27, 2026

Uploaded by Đào

Certified Actuarial Analyst (CAA) Module 5 resource guide explains the qualification’s purpose and prerequisites, then details the Module 5 syllabus and the exam structure. It outlines required technical competencies, including building a spreadsheet model to solve a specified problem and producing an audit trail for review by another CAA student. The guide provides assessment timing, recommended study hours, tuition and study support options, plus free online resources and an accompanying specimen exam paper.

LanguageEnglish

CategoryExam

FormatPDF

Pages14

Reading Time35 min

AccessFree to download

Welcome to Module 5-Models and Audit Trails

The Certified Actuarial Analyst qualification

The syllabus for the Module 5 exam

Development of a spreadsheet model

Production of an audit trail

Assessment of the Module 5 exam

Studying for the Module 5 exam

Recommended study hours

Tuition

Free online resources

Specimen exam paper

Calculators

Appendix 1 Syllabus: Module 5 – Models and Audit Trails

Appendix 2 Syllabus: Module 5 – Excel knowledge

Appendix 3 Specimen Examination Paper: Module 5 – Models and Audit Trails

Certified Actuarial Analyst Resource Guide Module 5 2017 5 [caa-global.org](caa-global.org) Contents Welcome to Module 5 3 The Certified Actuarial Analyst qualification 4 The syllabus for the Module 5 exam 5 Assessment of the Module 5 exam 5 Studying for the Module 5 exam 5 ► Recommended study hours 5 ► Tuition 6 ► Free online resources 6 Specimen exam paper 7 Calculators 7 Appendix 1 Syllabus: Module 5 – Models and Audit Trails 8 Appendix 2 Syllabus: Module 5 – Excel knowledge 9 Appendix 3 Specimen Examination Paper: Module 5 – Models and Audit Trails 10 Page 2 CAA Module 5 Resource Guide Welcome to Module 5-Models and Audit Trails of the Certified Actuarial Analyst qualification The Certified Actuarial Analyst (CAA) is a professional qualification from CAA Global. It is designed to provide you with a technical skills qualification if you: • work alongside actuaries – in areas such as data analysis, pricing and marketing • work in the wider financial services area – perhaps you already have other qualifications, and would like to develop a skill set that will mark you out in a competitive environment • work in a service centre environment – the analytical skills you’ll learn can then be added to your business knowledge • have strong maths skills, and you want to and learn on the job rather than going to university. The aim of Module 5 is to ensure that the successful candidate can model data, including maintaining an audit trail to document the work. Module 5 can only be taken when Modules 0, 1, 2, 3 and 4 have been passed. This Resource guide for Module 5 gives you the syllabus you will cover for the exam, and details of some online and other resources that will help you study for the Module 5 exam. There is also a specimen exam paper giving examples of the type of questions you will be asked. Additional information about the Module 5 exam, including: • How to enter for the exam • What will happen at the exam centre can be found in the: • Student Actuarial Analyst Handbook If you have any further questions contact the CAA Administration Team who will be happy to help you. Email the team at: enquiries @[caa-global.org](caa-global.org) @ Page 3 CAA Module 5 Resource Guide The Certified Actuarial Analyst qualification There are seven exams which you will need to complete for the qualification: | Module title | Assessed by | | --- | --- | | Fundamental Mathematics & Statistics – Module 0 | 2 hour Computer Based Assessment | | Finance and Financial Mathematics – Module 1 | 2 hour Computer Based Assessment | | Statistics and Models
– Module 2 | 2 hour Computer Based Assessment | | Long Term Actuarial Mathematics – Module 3 | 2 hour Computer Based Assessment | | Short Term Actuarial Mathematics – Module 4 | 2 hour Computer Based Assessment of 60 questions | | Models and Audit Trails
– Module 5 | 3 hour examination | | Online Professional Awareness Test (PAT) | 90 minute examination | In addition to passing the above exams, you must complete at least one year of relevant work experience (Work-based skills) . Page 4 CAA Module 5 Resource Guide The syllabus for the Module 5 exam The mathematical topics covered by the Module 5 exam are: • Development of a spreadsheet model to solve a specified problem • Production of an audit trail for use by a fellow CAA student You can find the full Module 5 syllabus in Appendix 1 of this Resource guide. Assessment of the Module 5 exam The Module 5 exam is assessed by a 3 hour online exam with an additional 15 minutes reading time before the start of the exam. Pass standards for the exam are set by CAA Global. Details of pass standards for CAA exams will be published in due course. Studying for the Module 5 exam Recommended study hours We recommend that you spend 100 hours studying to prepare for the exam. 100 Page 5 CAA Module 5 Resource Guide Tuition BPP Actuarial Education

FAQs

What is the aim of Module 5 for the Certified Actuarial Analyst qualification?

The aim is to ensure the successful candidate can model data while maintaining an audit trail to document the work.

What topics are covered in the Module 5 exam syllabus?

The syllabus focuses on developing a spreadsheet model to solve a specified problem and producing an audit trail for use by another CAA student.

How is the Module 5 exam assessed and what is the recommended preparation time?

Module 5 is assessed by a 3-hour online exam with an additional 15 minutes reading time. The guide recommends spending 100 hours studying to prepare.

Sep 27, 2026

Uploaded by Đào