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CT3 Probability and Mathematical Statistics

The aim of the Probability and Mathematical Statistics subject is to 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 Core Technical (CT) subjects. Students need to pass or obtain exemptions from all of the CT subjects. Visit Exam exemptions for more information about how to apply for exemptions from the professional exams.

There are two opportunities each year to sit this exam: in April, and in September/October.

For the April exam sitting, bookings will open in January/February each year; for the September/October exam sitting, bookings will open in July. Exam bookings are open for a limited period for each exam, and you must make your application by the closing date given on the form. You will need to pay the exam fee when you apply for the exam.

The CT3 exam is also available to non-members in the UK and overseas

As a non-member you don't need to meet the profession’s entry requirements in order to sit CT3, but you will need strong numeracy skills. The exam may be of interest to:

  • university students interested in becoming actuaries or enhancing their career prospects in finance and financial services
  • staff in financial services who are interested in becoming actuaries
  • people who work with actuaries and want to develop their numeracy skills
  • employers who want to see if their staff have the potential to become actuaries.

If you are a non-member sitting the CT3 exam for the first time:

  • complete an Online registration form (only available during the exam entry period)
  • you will then receive an email with your Actuarial Reference Number (ARN) and details of how to activate your online account, and then log in to the website to register for your exam

If you already have an ARN:

  • pay by card by logging in to the website to register for the exam
  • pay by cheque or bank transfer by completing a payment form and returning this to Education Services with your payment.

2018 examinations for non-members

With the introduction of our new Curriculum 2019, we made changes to the exam options available to our non-members. Previously a non-member could only apply for the CT1 exam. However as we approach the new Curriculum 2019 examinations and we only had two exam sittings left of the current curriculum, we will have offered our non-members the following options:

  • For the April 2018 exams, non-members were able to apply for either CT1 (Financial Mathematics) or CT3 (Probability and Mathematical Statistics). This gave non-members the option to complete the CT1 exam if they had been studying towards this; or to take CT3 which if passed will gain a CS1 in 2019.
  • For the September 2018 exams, non-members were only able to apply for CT3. This is because CT1 and CT5 are merging under the new curriculum and passes in both will be required to gain the CM1 exam in 2019.

The Actuarial Education Company (ActEd), provides study material and tuition for this subject, as do a number of courses listed on our University courses with exemptions page

The exams will be based on the syllabus as supported by the core reading. The ActEd course material will be the main source of tuition as it expands on the core reading. However, if you need clarification on some points, or want to read further, then you may find it useful to consult the texts suggested on the resources page to get a different viewpoint.

The recommended study time for this exam is between 125 and 150 hours depending on your past educational background in the subject

To gain exemptions through a university course, it is necessary to successfully complete the full degree or diploma and to gain sufficiently high marks to qualify for subject exemptions

Check our list of University courses with exemptions.

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Contact Details

Education Services Team

education.services@actuaries.org.uk

Institute and Faculty of Actuaries, 1st Floor, Park Central, 40/41 Park End Street, Oxford, OX1 1JD

+44 01865 268207

We aim to respond to all enquiries within two working days.

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