CS2 (Risk Modeling and Survival Analysis) is a follow-up to CS1. It improves knowledge and skills in risk modelling, time series analysis, stochastic processes (particularly Markov chains and Markov jump processes), survival analysis (including regression methods applied to duration data), and graduation approaches. A high-level introduction to machine learning is also included. The course covers both theory and the application of concepts to real-world data sets using R.
In subjects CM1 and CM2, the material in this subject is applied to actuarial modelling.

Exam format:

IFoA CS2A Theoretical Exam : 3 hours and 20 minutes computer-based exam (Word) CS2B Practical Exam : 1 hour and 50 minutes computer-based exam (Word and R).

IAI CS2A Theoretical Exam : 3 hours and 15 minutes computer-based exam (Word) CS2B Practical Exam : 1 hour and 45 minutes computer-based exam (Word and R).

You must sit A + B papers in the same session.

CS1 Syllabus : https://www.actuaries.org.uk/documents/cs2-syllabus-2022

IFoA Past Exam Papers - https://www.actuaries.org.uk/studying/prepare-your-exams/past-exam-papers-and-examiners-reports

IAI Past Exam Papers - http://www.actuariesindia.org/subMenu.aspx?id=225&val=Subject_Wise

Demo videos - https://www.sankhyiki.in/demo-classes.php

CS1 Faculty
Akshay Chauhan

Faculty for CS1, CS2, Data Science with R and Bimankik

I really want to appreciate and thank you for being such a wonderful teacher.The way you were interacting with students, way of teaching, made CS2 (as stated hard) so interesting. The explanations by u on everything was outstanding and made concepts clear and questions doable. It was a great experience.

Anjum Bansal Actuarial Science Student, DTH

As a competitive exam candidate, I believe that the right kind of guidance is the most important aspect of anyone's preparation and I am happy to say that I received the best of both academic and personal guidance from the Akshay sir. To have teachers who truly enjoy teaching and who believe in students when they have difficulty in believing in themselves was my biggest source of strength during this journey. Though I had joined very late, I never felt that I was lacking behind in the class. All thanks to the timely excellent backup classes. We completed the course well in time and had enough time for solving past years' papers and whatever doubts that came up. Thank you sir for the constant motivation to strive for our goal.

Ayesha Jain Actuarial Science Student, South Campus Centre

SANKHYIKI institute has been really helpful with my exams and Akshay sir has been a great teacher. Not only the aim is to clear the exams, but he has always given emphasis on the conceptually clarity. Even the non teaching staff here helps indirectly with your goals.

Parth Kanwar Actuarial Science Student, Satya Niketan Centre

I studied CS1, CS2 and CB1 at SANKHYIKI and cleared all the exams in a single attempt due the smart and focused teaching methods of the faculty and the flexibility they offer in terms of time and back-up classes. I started doing actuarial exams while employed full time and that meant a very tight schedule for me. The teachers were very understanding and offered their full support in helping me prepare for my exams. I am currently doing multiple exams only because I believe I will get the help and guidance I need here. The staffs aside from the teachers are equally wonderful. They made timetabling and planning effortless; and were also very prompt with any questions I had about exams, etc! Best place to be coached for actuarial exams ever!

Veronica Srivastava Actuarial Science Student, Satya Niketan Centre

I have studied 6 papers under the close guidance and supervision of the SANKHYIKI faculty. Their USP lies in the fact that they ensure that we do not just pass a paper but understand the concepts in depth, which will ultimately determine our success in the corporate world. Also, the teachers are extremely friendly and help u with the smallest and silliest of issues with a smile. I totally recommend this institute.

Priyanka Agarwal Actuarial Science Student, Kolkata Centre

Who is an Actuary?

The Actuarial Profession is a niche one with many not even knowing a whole lot about it. This makes the circle of Actuaries an exclusive group of curious, highly skilled and greatly respected people. Actuaries “sit in the control room of an insurance company” in some sense. They price policies, predict the need for reserves and liquidity to meet future obligations and ensure that insurers are protected against the various risks that they are exposed to. This means they are very well compensated and highly regarded for their work.

Actuaries tend to be people who get their daily dose of excitement from problem-solving. Whether they are working as consultants to insurance firms or working on the carrier side (with the insurer itself), they always take it upon themselves to study the market, the risks it exposes their client/firm to and try to strategize accordingly. The work is challenging and exciting, with there being loads to learn.

Whether you are a "specialist" who likes to delve deep into topics, or possess the temperament of a “polymath” who likes to know a little about everything, this profession is for you. You can on one hand, use your mathematical and statistical skills to find better ways to price policies to respond to market conditions better, or instead, apply your skills to offering risk management advice to your various clients offering you various challenging problems to solve.

Long story short, Actuaries are unique individuals for a penchant in finding sustainable ways out of problems and making educated guesses and technically backed forecasts of what’s going to happen next. Whether it is to do with forecasting the development of future claims on their firm’s policies or computing the probability of someone winning a game of poker! Numbers and they are the best of pals and with a sprinkling of their sane judgment, an actuary aims to interpret the world around them and make it better for the people who are a part of it.