CAS Exam 5: Basic Techniques for Ratemaking and Estimating Claim 2025

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If you have a busy schedule, I recommend you start studying for Exam P about 4 5 months before you plan to write. That will give you sufficient time to be fully prepared while only spending about 1.5 2 hours per day studying.
The Casualty Actuarial Society (CAS) requires all candidates to qualify through a series of rigorous actuarial exams, covering all aspects of actuarial practice including mathematics, finance, economics, insurance, enterprise risk management, and actuarial science.
In general, plan to start about 7-10 days in advance to make sure you maximize your study time. Remember, it is better to space your studying out over a period of days rather than clustering your studying just before the exam. Ten hours of studying over 5 days is better than 10 hours of studying over 2 days!
While the study duration varies from person to person, its typical to invest around 500 hours in preparing for this exam. Most students spread their study over four to five months, dedicating the first two to three months to learning the material and the final month(s) to solving practice problems.
Daily Study Hours: A common recommendation is to study 2-4 hours per day. This would total approximately 60-120 hours over the month. Adjust as Needed: If you find certain topics more challenging, you may need to increase your study time. Conversely, if you feel confident, you could reduce it.
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To fully prepare for the AP exam on this study plan, you should study at least 4 hours daily for 5 days a week.
This 53.5 point examination consists of 25 problem and essay questions.

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