Having gone through the exams of the past five years I am surprised by the concentration of exam questions on only about four or five chapters of the material. Exam papers generally have two questions on either time series work or loss distributions. Sections on empirical bayes credibility theory, the adjustment coefficient, and even Monte Carlo Simulation, for example, are largely ignored. Why is this? As far as I understand, the majority of the application of the concepts in CT6 to real world actuarial work would be far more likely to involve more detail on ruin theory and EBCT than on calculating the ACF's and PACF's of time series.
Similarly for adjustment coefficient. As for simulation - this has been in the syllabus since April 2005 and we have had a question on 8 out of the 11 papers.
