Exam MAS-I vs. Exam SRM: What Changes and What Stays
Compare the content and focus of Exam MAS-I with its predecessor components for transitioning candidates.
Content Overlap
Exam MAS-I builds on foundational statistical material previously tested in Exam SRM (Statistics for Risk Modeling) and parts of Exam S. Core topics that remain include probability distributions, statistical inference, regression analysis, generalized linear models, and time series. These topics form the statistical toolkit that every CAS actuary needs. The treatment in MAS-I is generally deeper and more integrated with actuarial applications compared to the prerequisite exams.
What Changes in MAS-I
MAS-I adds several advanced topics not covered in SRM: survival analysis with censoring, Bayesian analysis in depth, Markov chains and stochastic processes, extreme value theory, copula models, and advanced nonparametric methods. The exam places greater emphasis on actuarial applications of statistical methods rather than pure statistical theory. Simulation methods receive more attention, and the syllabus integrates credibility theory with modern statistical approaches. The exam format and length may differ from SRM. Candidates transitioning should focus study time on the new topics while reviewing familiar material at the MAS-I depth level.