Lemma

35% of syllabus · Net and gross premiums, prospective/retrospective reserves, profit testing and surplus.

Lemma · IAI CM1

Derivation-first CM1 prep that respects prerequisites

10 free lessons · master each atom before the next unlocks

Start Lesson 1

Your path through Pricing and Reserving

6 lessons in one prerequisite chain. Master each stop to unlock the next — derivation-first, atom by atom.

  1. Net premiums and the equivalence principle

    Start

    Apply the equivalence principle to equate the EPV of premiums and benefits and solve for the net premium.

    2 atoms · Founding member · Entry lesson

  2. Gross premiums and expense loadings

    Open

    Extend the equation of value to include expenses and compute gross (office) premiums.

    2 atoms · Founding member · After lesson 1

  3. Prospective reserves

    Open

    Define the prospective policy reserve as the EPV of future benefits less future premiums.

    2 atoms · Founding member · After lesson 2

  4. Retrospective reserves

    Open

    Define the retrospective reserve as accumulated premiums less benefits and show when it equals the prospective reserve.

    2 atoms · Founding member · After lesson 3

  5. Profit testing and value of in-force

    Open

    Build a profit vector and signature for a policy and discount them to a net present value of profits.

    2 atoms · Founding member · After lesson 4

  6. Mortality profit and analysis of surplus

    Open

    Decompose emerging surplus into mortality, interest and expense components and compute mortality profit.

    2 atoms · Founding member · After lesson 5

Lemma — Azure AI Fundamentals (AI-901) prep