Exam P - Probability
Build the probability foundation the rest of the actuarial exam track depends on, from combinatorics through joint distributions.
What Exam P covers
General probability
- Set theory and combinatorics (counting rules, permutations, combinations)
- Conditional probability and independence
- Bayes' theorem
Univariate probability distributions
- Discrete distributions (binomial, Poisson, geometric, negative binomial, hypergeometric)
- Continuous distributions (normal, exponential, uniform, gamma, and more)
- Moments: mean, variance, and moment generating functions
Multivariate probability distributions
- Joint, marginal, and conditional distributions
- Covariance and correlation
- Transformations and combinations of random variables
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