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Provides the Module 3 exam purpose and syllabus, including key actuarial topics such as simple assurance and annuity contracts, present value mean/variance under deterministic interest, gross premiums and reserves, mortality models, two-life functions, cash flow modelling under risk, discounting techniques, and population heterogeneity and selection. Includes guidance for studying with recommended hours, tuition provider notes, assessment format, pass standards, authorised calculator rules, and a specimen exam paper with examples and important limitations for preparation.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/certified-actuarial-analyst-resource-guide-module-3-long-term-actuarial-mathematics/399133/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/certified-actuarial-analyst-resource-guide-module-3-long-term-actuarial-mathematics/399133.png","ImageObject",300,407,{"name":92,"@type":93},"AfterMidnight","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-04","2026-09-27",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",12,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What is the aim of the Module 3 Long Term Actuarial Mathematics exam?","Question",{"text":113,"@type":114},"The exam aims to provide grounding in statistical aspects relevant to actuarial work, including stochastic processes and survival models.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"How many questions and how long is the Module 3 exam?",{"text":118,"@type":114},"The Module 3 exam is a 2 hour computer based assessment with 60 multiple choice questions, and you receive an additional 15 minutes before starting for instructions and sample questions.",{"name":120,"@type":111,"acceptedAnswer":121},"What calculator is authorised for the CAA exams in Module 3?",{"text":122,"@type":114},"Only the Texas Instruments TI-30 Multiview (with or without suffix) is authorised. 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There is also a specimen exam paper giving examples of the type of questions you will be asked  \nThe Certified Actuarial Analyst qualification  \nThere are seven exams which you will need to complete for the qualification:  \n\n| Module title | Assessedby |\n| --- | --- |\n| Fundamental Mathematics& Statistics – Module 0 | 2 hour Computer Based Assessment |\n| Finance and Financial Mathematics –Module1 | 2 hour Computer Based Assessment |\n| Statistics and Models\u003Cbr>– Module 2 | 2 hour Computer Based Assessment |\n| Long Term Actuarial Mathematics – Module 3 | 2 hour Computer Based Assessment of\u003Cbr>60 questions |\n| Short Term Actuarial Mathematics – Module 4 | 2 hour Computer Based Assessment |\n| Models and Audit Trails – Module 5 | 3 hour examination |\n| Online Professional Awareness Test (PAT) | 90 minute examination |\n\nIn addition to passing the above exams, you must complete at least one year of relevant work experience(Work-basedskills) .  \nThe syllabus for the Module 3 exam  \nThe mathematical topics covered by the Module 3 exam are:  \n• Simple Assurance and Annuity contracts; formulae for the mean and variance of the present value of payments under these contracts (assuming deterministic interest)  \n• Practical methods of evaluating the expected values of contracts as defined in Topic 1 of the syllabus.  \n• Gross premiums for Life insurance and annuity contracts  \n• Gross Premium Reserves  \n• Calculating gross premiums and gross premium reserves for increasing and decreasing benefits and annuities using ultimate or select mortality  \n• Straightforward functions involving two lives  \n• Modelling cash flows contingent on risks  \n• Techniques of discounting emerging costs for use in pricing, reserving, and assessing profitability  \n• The principal forms of heterogeneity within a population and the ways in which selection can occur.  \nYou can find the full Module 3 syllabus in Appendix 1 of this Resource guide.  \nStudying for the Module 3 exam  \nRecommendedstudy hours  \nWe recommend that you spend 125-150 hours studying to prepare for the exam.  \nTuition  \nBPP Actuarial Education (ActEd),  \nprovides online study material for this exam.  \nDetails of their tra","cbCaimBNXqitaTbt","https://ap.wps.com/l/cbCaimBNXqitaTbt","pdf",909596,23,"English","# Welcome to Module 3\n## The Certified Actuarial Analyst qualification\n## The syllabus for the Module 3 exam\n## Studying for the Module 3 exam\n### Recommended study hours\n### Tuition\n## Assessment of the Module 3 exam\n## Specimen exam paper\n## Resources available at the exam centre\n### Calculators\n### Making notes during the exam\n### Formulae and Tables for actuarial examinations\n# Appendix 1 Syllabus: Module 3 – Long Term Actuarial Mathematics\n## Appendix 2 Specimen Examination Paper: Module 3 – Long Term Actuarial Mathematics","[{\"question\":\"What is the aim of the Module 3 Long Term Actuarial Mathematics exam?\",\"answer\":\"The exam aims to provide grounding in statistical aspects relevant to actuarial work, including stochastic processes and survival models.\"},{\"question\":\"How many questions and how long is the Module 3 exam?\",\"answer\":\"The Module 3 exam is a 2 hour computer based assessment with 60 multiple choice questions, and you receive an additional 15 minutes before starting for instructions and sample questions.\"},{\"question\":\"What calculator is authorised for the CAA exams in Module 3?\",\"answer\":\"Only the Texas Instruments TI-30 Multiview (with or without suffix) is authorised. You must bring your own calculator, which is checked and cleared by exam centre staff.\"}]","Certified Actuarial Analyst Resource Guide - Module 3 - Long Term Actuarial Mathematics | PDF",1790493457,58]