CM1 – Actuarial Mathematics for Modelling is one of the most important papers in the Actuarial Science qualification. It requires a strong understanding of concepts along with extensive question practice.

For students preparing for the IFoA September 2026 or IAI November 2026 examinations, preparation should focus not only on understanding the syllabus but also on developing speed, accuracy, typing skills and Excel proficiency.

Paper A Preparation Strategy

1. Understand the Concepts First

Start each chapter by thoroughly studying the concepts from the book. This is very important because many questions require you to apply concepts rather than simply remember formulas.

Make short revision notes for important concepts, formulas and methods. These notes will be extremely useful during your final revision.

2. Solve Questions at the End of Each Chapter

Once you complete the concepts, solve the questions given at the end of the chapter.

Do not simply look at the solution when you get stuck. Try to understand why a particular method is being used and identify where you made the mistake.

3. Practise from Revision Notes

After completing the chapter questions, move on to the questions from the Revision Notes.

Try to cover different types of questions rather than repeatedly solving only the familiar ones.

4. Solve the X-Series Questions

Next, practise the X-series questions from the back of the book.

These questions are useful for testing whether you can apply the concepts to different question formats.

5. Practise Typing in MS Word

Paper A requires students to work in a Word-based examination environment, so typing practice is an important part of CM1 preparation.

Do not wait until the last few weeks to practise typing.

Regularly practise writing complete solutions in MS Word, including:

• Mathematical workings
• Formulas
• Explanations
• Structured answers
• Appropriate notation
• Clear presentation of calculations

The objective is to become comfortable with solving and presenting answers digitally under exam conditions.

6. Repeat Revision Notes Questions

Before the examination, aim to solve all types of questions from the Revision Notes at least three times.

Repeated practice helps you recognise different question patterns and reduces the possibility of facing a completely unfamiliar question in the examination.

Paper B Preparation Strategy

Paper B requires a different preparation approach because students need to work with Excel.

1. Learn the Basics of Excel

Before starting intensive Paper B practice, make sure you are comfortable with basic Excel functions and operations.

You should be able to work quickly with formulas, cell references and calculations without spending unnecessary time figuring out the spreadsheet.

2. Solve Questions from PBOR

Start practising Paper B questions from PBOR.

Focus on understanding how the actuarial calculations are translated into an Excel model rather than simply reproducing the final answer.

3. Practise the Y-Series Questions

After PBOR, solve the Y-series questions to gain experience with different Paper B question styles.

Pay attention to the structure of your spreadsheet and make your workings easy to follow.

4. Practise Revision Notes in Excel

Practise the relevant Revision Notes questions in Excel, particularly from:

Chapters 8, 9, 10, 11, 17, 18, 19, 20 and 22, along with applicable questions from Chapter 25.

Not every question may be suitable for Excel practice. For example, some questions such as payable annual premium sums may be solvable, while others may not be directly applicable.

Don't Ignore Easy Questions

CM1 contains questions of different levels of difficulty. Build confidence by ensuring that you can solve the standard question types quickly before spending excessive time on difficult questions.

Practise Full-Length Mocks

Once you have completed sufficient chapter-wise practice, move towards full-length mock examinations.

For Paper A, attempt the mock using MS Word.

For Paper B, attempt the mock using Excel.

Try to replicate the actual examination environment as closely as possible.

Focus on Speed + Accuracy

CM1 preparation is not just about solving a large number of questions. Your goal should be:

Understand → Practise → Repeat → Improve Speed → Attempt Mocks → Analyse Mistakes

Conclusion

CM1 is a paper where consistent practice makes a major difference. Understanding the concepts is only the first step. Students should spend sufficient time solving different types of questions and become comfortable with the digital examination environment.

For Paper A, focus on concepts, question practice and MS Word typing practice.

For Paper B, focus on actuarial modelling, Excel skills and repeated practical question-solving.

Start early, practise consistently and use your final weeks for revision, mocks and correcting mistakes.

Prepare smart. Practise repeatedly. Be exam-ready before exam day.