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[QUOTE=ijt.Ranjani;315749][B][U]Organisation [/U][/B]: Institute of Actuaries of India
[B][U]Announcement [/U][/B]: Syllabus
[B][U]Subject [/U][/B]: CA Core Application Syllabus

[B][U]Home Page [/U][/B]: [URL]http://www.actuariesindia.org/index.aspx[/URL]
[B][U]Download Syllabus Here [/U][/B]:
[B][U]CA1 [/U][/B]: [URL]http://www.indianjobtalks.com/uploads/76060-CA1.pdf[/URL]
[B][U]CA2 [/U][/B]: [URL]http://www.indianjobtalks.com/uploads/76060-CA2.pdf[/URL]
[B][U]CA3 [/U][/B]: [URL]http://www.indianjobtalks.com/uploads/76060-CA3.pdf[/URL]

[B][U] CA1 – Actuarial Risk Management :[/U][/B]
[B][U]Aim [/U][/B]:
The aim of the Actuarial Risk Management subject is that upon successful completion, the candidate should understand strategic concepts in the management of the business activities of financial institutions and programmes, including the processes for management of the various types of risk faced, and be able to analyse the issues and formulate, justify and present plausible and appropriate solutions to business problems.

[B][U]Objectives [/U][/B]:
On the successful completion of this subject the candidate will be able to : 
[B][U]1 How to do a professional job [/U][/B]:
1.1 Describe how actuaries can contribute to meeting the business needs of their clients and other stakeholders.  
1.2 Describe the statutory roles that may be required of actuaries in pensions and insurance, both in the public and private sectors.

1.3 Outline the professionalism framework of the Institute and Faculty of Actuaries and the Financial Reporting Council. 
1.4 Describe the factors and issues to be taken into account when doing a professional job.

1.5 Describe the Actuarial Control Cycle and explain the purpose of each of its components. 
1.6 Demonstrate how the Actuarial Control Cycle can be applied in a variety of practical commercial situations, including its use as a Risk Management Control Cycle.

[B][U]2 Stakeholders and their needs [/U][/B]:
2.1 Identify the clients that actuaries advise in both the public and private sectors and the stakeholders affected by that advice. 
2.2 Describe how stakeholders other than the client might be affected by any actuarial advice given.

2.3 Describe the functions of the clients and potential clients that actuaries advise and the types of advice that 
actuaries might give to their clients.   
2.4 Explain why and how certain factual information about the client should be sought in order to be able to give advice.

2.5 Explain why subjective attitudes of clients and other stakeholders – especially towards risk – are relevant to giving advice.  
2.6 Distinguish between the responsibility for giving advice and the responsibility for taking decisions.

2.7 Describe the main providers of benefits on contingent events.  
2.8 Describe how products, schemes, contracts and other arrangements can provide benefits on contingent events which meet the needs of clients and stakeholders.

2.9 Describe the ways of analysing the needs of clients and stakeholders to determine the appropriate benefits on contingent events to be provided by financial and other products, schemes, contracts and other arrangements.

[B][U]3 General environment [/U][/B]:
[B][U]3.1 Risk environment [/U][/B]:
3.1.1 Describe the risk management process for a business that can aid in the design of products, schemes, contracts and other arrangements to provide benefits on contingent events.  
3.1.2 Describe how risk classification can aid in the design of products, schemes, contracts and other arrangements that provide benefits on contingent events.

3.1.3 Discuss the difference between systematic and diversifiable risk.  
3.1.4 Discuss risk appetite and the attainment of risk efficiency.  
3.1.5 Describe credit risk and the use of credit ratings.

3.1.6 Describe liquidity risk.  
3.1.7 Describe market risk.  
3.1.8 Describe operational risk.

3.1.9 Describe business risk.  
3.1.10 Describe attitudes to and methods of risk acceptance, rejection, transfer and management for stakeholders.  
3.1.11 Discuss the portfolio approach to the overall management of risk, including the use of diversification and avoidance of risk concentrations.

3.1.12 Distinguish between the risks taken as an opportunity for profit and the risks to be mitigated.  
3.1.13 Describe the principle of pooling risks.  
3.1.14 Describe the methods of transferring risks.

3.1.15 Describe how enterprise risk management can add value to the management of a business.  
3.1.16 Describe the risks and uncertainties affecting :  
** the level and incidence of benefits payable on contingent events 
** the overall security of benefits payable on contingent events

[B][U]3.2 Regulatory environment [/U][/B]: 
3.2.1 Describe the principles and aims of prudential and market conduct regulatory regimes.  
3.2.2 Explain the concept of information asymmetry.  
3.2.3 Explain how certain features of financial contracts might be identified as unfair.  
3.2.4 Discuss the implications of a requirement to treat the customer fairly.

[B][U]3.3 External environment [/U][/B]:
Describe the implications for the main providers of benefits on contingent events of :  
** legislation – regulations 
** State benefits 
** tax

** accounting standards 
** capital adequacy and solvency  
** corporate governance

** risk management requirements 
** competitive advantage  
** commercial requirements

** changing cultural and social trends
** demographic changes 
** environmental issues

** lifestyle considerations 
** international practice
** technological changes

[B][U]3.4 Investment environment [/U][/B]:
3.4.1 Discuss the cash flows of simple financial arrangements and the need to invest appropriately to provide for financial benefits on contingent events.  
3.4.2 Demonstrate a knowledge and understanding of the characteristics of the principal investment assets and of the markets in such assets.

3.4.3 Explain the principal economic influences on investment markets.  
3.4.4 Describe the main features of the behaviour of market price levels and total returns and discuss their relationships to each other.

3.4.5 Discuss the theoretical and historical relationships between the total returns and the components of total returns, on equities, bonds and cash, and price and earnings inflation.[/QUOTE]

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