Lemma

IAI · 2025

CM1 Foundation

Four IAI syllabus topics · derivation-first lessons · 10 free starters in Module 1 · founding pass unlocks paid modules

Theory of Interest Rates

25% syllabus · 0/24 atoms mastered

Complete

Time value of money, interest rates, force of interest, annuities and perpetuities.

Open module →

Equation of Value and Applications

20% syllabus · 0/12 atoms mastered

NPV/IRR, bond pricing, loan schedules, project appraisal, yield curves and immunisation.

Open module →

Decrement and Multiple Life Models

20% syllabus · 0/10 atoms mastered

Survival models, life tables, life annuities/assurances, joint life and multiple decrements.

Open module →

Pricing and Reserving

35% syllabus · 0/12 atoms mastered

Net and gross premiums, prospective/retrospective reserves, profit testing and surplus.

Open module →

Paper B / Excel practice is not included — Lemma covers the CM1A theory syllabus only.

IAI CM1 Foundation | Lemma