1.1. Introduction
1.2. Prudential supervision
1.3. Disclosure information
1.4. Fair treatment
1.5. Monitoring the standards within the actuarial profession
1.6. Materiality
1.7. Independence of employed actuaries
1.8. Data quality
1.9. Ethics and professional behaviour

2.1. Introduction
2.2. Professional and regulatory contexts
2.3. Government policy
2.4. Taxation
2.5. Social assistance and social insurance
2.6. Economic conditions and trends
2.7. Accounting standards and practices
2.8. Range of products and services offered

3.1. Financial Life Cycle
3.2. Risk and Volatility in the Life Cycle
3.3. Savings Products
3.4. Non-savings Products (Insurance)

4.1. Type of risk for insurers
4.2. Risk management strategies
4.3. Reinsurance

5.1. Product Design Cycle
5.2. Understand the need
5.3. Nature of the product design process
5.4. Risk assessment and underwriting

A1 : Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance and other industries and professions. Actuaries are professionals trained in this discipline. In many countries, actuaries must demonstrate their competence by passing a series of rigorous professional examinations.

Actuarial science includes a number of interrelated subjects, including mathematics, probability theory, statistics, finance, economics, and computer science. Historically, actuarial science used deterministic models in the construction of tables and premiums. The science has gone through revolutionary changes since the 1980s due to the proliferation of high speed computers and the union of stochastic actuarial models with modern financial theory (Frees 1990).