GIC Re Actuary Stream Exam Preparation Course: Comprehensive Guide With Detailed Modules

Course Content

1. Introduction to Actuarial Science

Overview of Actuarial Science
Importance and scope in GIC Re
Key concepts: Risk, probability, and life expectancy
Understanding the GIC Re Actuarial role and responsibilities
Quiz
Solution and Explanation

2. Probability and Statistics

3. Financial Mathematics

4. Actuarial Models

5. Insurance Fundamentals

6. Regulation and Compliance

7. Data Analytics and Software Skills

Practice Sets

Practice Set 1
Solution and Explanation
Practice set 2
Solution and Explanation
Practice set 3
Solution and Explanation
Practice set 4
Solution and Explanation
Practice set 5
Solution and Explanation
Practice set 6
Solution and Explanation
Practice set 7
Solution and Explanation
Practice set 8
Solution and Explanation
Practice set 9
Solution and Explanation
Practice set 10
Solution and Explanation

Course Content

1. Introduction to Actuarial Science

Overview of Actuarial Science

Importance and scope in GIC Re

Key concepts: Risk, probability, and life expectancy

Understanding the GIC Re Actuarial role and responsibilities

Quiz

Solution and Explanation

2. Probability and Statistics

Basics of probability theory

Distributions: Binomial, Poisson, and Normal

Hypothesis testing and regression analysis

Application in insurance and reinsurance

Quiz

Solution and explanation

3. Financial Mathematics

Time value of money

Annuities and perpetuities

Bonds and yield calculations

Applications of financial mathematics in actuarial models

Quiz

Solution and Explanation

4. Actuarial Models

Survival models and life tables

Loss distributions and risk modeling

Reserving and Pricing Models

Understanding Reinsurance Models

Quiz

Solutions with Explanations

5. Insurance Fundamentals

Types of Insurance: General, Life, Health, etc.

Principles of Underwriting

GIC Re-Specific Policies and Practices

Claim Management and Risk Transfer Mechanisms

Quiz

Solution and Explanation

6. Regulation and Compliance

IRDAI Regulations

Solvency Requirements and Capital Adequacy

Role of Actuaries in Regulatory Compliance

Quiz

Solution and Explanation

7. Data Analytics and Software Skills

Actuarial Tools: Excel, R, Python, etc.

Data Cleaning and Analysis

Application of Machine Learning in Actuarial Science

GIC Re’s Use of Analytics in Decision-Making

Quiz

Solution and Explanation

Practice Sets

Practice Set 1

Solution and Explanation

Practice set 2

Solution and Explanation

Practice set 3

Solution and Explanation

Practice set 4

Solution and Explanation

Practice set 5

Solution and Explanation

Practice set 6

Solution and Explanation

Practice set 7

Solution and Explanation

Practice set 8

Solution and Explanation

Practice set 9

Solution and Explanation

Practice set 10

Solution and Explanation

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