The Probability and Mathematical Statistics subject provide a grounding in the aspects of statistics and in particular statistical modelling that are of relevance to actuarial work .CT3 is one of the nine CT subjects. The exams will be based on the study material as supported by the core reading. The ActEd course material will be the main source of tuition as it expands on the core reading. The recommended study time for this exam is between 125 and 150 hours depending on your past educational background in the subject.
Some insight about the subject-
Question paper will be of 100 marks. Exam paper will be having at least one medium or big question which can be from is expected from section 2(chapter 6, 7) , section 3(chapter 10, 11), section 4(chapter 12, 13, 14). A mixed question could be asked from Chapter 6&7 and 11&12. If you have done chapter 13 and 14 in well manner this will result in scoring. Remaining part will have small question (2-5 marks) which will add up to at least 30-35 marks. Question paper will have some tricky questions too. When you encounter these tricky questions in previous papers try to get the methodology used to solve such type of questions. These tricky question account 20- 25marks.
Thoroughly Solve Question Bank and X-series along with past exam papers (minimum past 5 years paper). Don’t just go through, sit and solve them even if you feel it is easy, or else you may go blank during exam due to lack of practice.
As soon as you receive the question paper, go through it and try to attempt those questions first which you are good at. Paper is generally lengthy making it difficult to complete in 3 hours’ time. Preferably attempt small question later. Learn how to make best use of Actuarial Tables and get used to it. Many formulas are in available in actuarial table so no need to mug up each formula.
Question pattern vary a lot in CT3 Exam. You may ask any specific question in comments section. Kindly try to solve past papers to get awareness about subject and it will increase the chances of clearing the exam
P.S. – Before you write your exam, make it clear in your mind that you can’t simply pass the exam by doing only book work, your concepts should be pretty clear. Be precise in what you write. Don’t write too long for questions that carry less marks or don’t write too less for questions that carry good marks. Write in legitimate hand writing. Please remember 1 marks = 1.8 minutes of exam time. Maintain your speed. Best of Luck.!!