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Sample CNSF Actuario Daños Practice Questions

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1Under Title 31, Chapter 31.1 of the Circular Única de Seguros y Fianzas (CUSF), what professional credential is required for an actuary to validly sign technical notes and reserve valuations for property and casualty (Daños) insurance in Mexico?

A.Only a university degree diploma in Actuarial Science without government registration

B.A professional cédula in Actuarial Science issued by the SEP and either a current professional certification from CONAC or knowledge accreditation from the CNSF

C.An active international fellowship from the Casualty Actuarial Society (CAS) with no Mexican registration

D.A certified public accountant license accompanied by three years of underwriting experience

Explanation: CUSF Disposition 31.1.1 requires technical notes, actuarial methods for constituting and valuing technical reserves, reserve valuations and the Prueba de Solvencia Dinámica to be prepared and signed by an actuary with a professional cédula issued by the SEP who holds either current certification from the professional college of the specialty (CONAC) or a CNSF accreditation of knowledge.

2Which of the following is a ramo of the damage operation (operación de daños) under Article 25, fraction III, of the Ley de Instituciones de Seguros y de Fianzas (LISF)?

A.Seguros de Pensiones derivados de las leyes de seguridad social

B.Gastos Médicos Mayores

C.Responsabilidad Civil y Riesgos Profesionales

D.Supervivencia y Rentas Vitalicias Voluntarias

Explanation: LISF art. 25, fraction III, lists the damage ramos: responsabilidad civil y riesgos profesionales, marítimo y transportes, incendio, agrícola y de animales, automóviles, crédito, caución, crédito a la vivienda, garantía financiera, riesgos catastróficos and diversos, among others. Social-security pension insurance and survival insurance belong to the life operation, and gastos médicos is a ramo of the accident and health operation (art. 25, fraction II).

3Under CUSF Provisions 31.1.7 and 31.1.8, what are the authorized exam duration and permitted reference materials for the CNSF Actuarial Knowledge Accreditation examination in Daños?

A.A maximum duration of 3 hours, strictly closed-book with only non-programmable standard calculators allowed

B.A maximum duration of 6 hours, where books, calculators and laptop computers are allowed (scratch paper on request), but cell phones and mobile broadband devices are prohibited

C.An open 8-hour take-home examination with full internet and communication access permitted

D.A 4-hour examination where only the printed CUSF text provided by the proctors may be consulted

Explanation: CUSF 31.1.7 sets a maximum duration of 6 hours. CUSF 31.1.8 lets examinees use books, calculators and laptop computers, with scratch paper supplied by the supervisor on request, and prohibits cell phones and mobile broadband devices.

4What is the minimum passing score required on the CNSF Daños actuarial accreditation exam, and what is the regulatory validity period of the resulting accreditation oficio under CUSF 31.1.9 and 31.1.11?

A.60% of total score, valid indefinitely until regulatory revocation

B.70% of total items, valid for 2 years from the date of issuance

C.80% of total score, valid for 5 years renewable via fee payment only

D.75% of total items, valid for 1 year subject to an annual re-examination

Explanation: Pursuant to CUSF Provision 31.1.9, candidates must correctly answer at least 70% of the exam items to obtain accreditation. Under Provision 31.1.11, the official accreditation issued by the CNSF remains valid for 2 years from its date of issuance.

5To renew (refrendar) the CNSF actuarial accreditation for Daños without re-taking the examination, what continuing education requirement must be satisfied under CUSF Provision 31.1.12?

A.Accumulating at least 40 hours of training in general business management over 3 years

B.Accrediting at least 80 hours of approved continuing actuarial education within the 2-year validity period

C.Publishing at least two peer-reviewed papers in an international actuarial journal

D.Completing 120 hours of legal training in Mexican commercial contracts

Explanation: CUSF Provision 31.1.12 provides that actuaries may renew their accreditation by demonstrating compliance with at least 80 hours of recognized continuous professional education relevant to the specialty (Daños) within the 2-year accreditation period prior to expiration.

6According to Article 40 of the Ley sobre el Contrato de Seguro (LSCS), what happens if a premium or premium installment is not paid within the agreed term, or within the default term when none was agreed?

A.Coverage continues uninterrupted, and the insurer may only charge legal interest at the CETES rate

B.The effects of the contract cease automatically at 12:00 noon on the last day of the agreed term; if no term was agreed, the term is 30 calendar days after the due date

C.The policy is voided retroactively to its inception date, as if it had never existed

D.The insurer must petition a commercial judge to declare the policy cancelled before terminating coverage

Explanation: LSCS art. 40 provides that, if the premium or installment is not paid within the agreed term, the contract's effects cease automatically at 12:00 noon (doce horas) on the last day of that term; when no term was agreed, a term of 30 calendar days after the due date applies. Art. 41 voids any agreement that would deprive art. 40 of its effects.

7Under Articles 100 and 101 of the LSCS, what happens if an insured contracts insurance for the same interest against the same risk with several insurers and intentionally fails to notify them of the other policies?

A.All insurers must share the full loss equally up to the highest policy limit

B.The insurers are released from their contractual obligations if the insured intentionally omitted notice to obtain an illicit gain

C.The first insurer issued is solely responsible for 100% of the loss

D.Each insurer pays double the claimed amount as a punitive regulatory penalty

Explanation: LSCS art. 100 requires the insured to notify each insurer in writing of the other insurances, stating the insurers and sums insured. Under art. 101, if the insured intentionally omits the notice, or contracts the several insurances to obtain an illicit gain, the insurers are released from their obligations. Good-faith concurrent insurance remains valid under art. 102, with each insurer liable up to its sum insured.

8A commercial warehouse has an actual insurable value of MXN 20,000,000 but is insured for MXN 12,000,000. A fire causes a partial loss of MXN 5,000,000. Under the proportional rule (regla proporcional) of LSCS art. 92, what indemnity is payable, disregarding deductibles?

A.MXN 5,000,000

B.MXN 3,000,000

C.MXN 2,400,000

D.MXN 1,800,000

Explanation: LSCS art. 92 provides that, unless otherwise agreed, if the sum insured is lower than the insured interest, the insurer responds in proportion to the damage. Art. 91 fixes the value of the interest at the time of the loss. Indemnity = 5,000,000 × (12,000,000 / 20,000,000) = 5,000,000 × 0.60 = MXN 3,000,000.

9Under Article 69 of the LISF and CUSF Chapter 3.5, what is a core responsibility of the Actuarial Function (Función Actuarial) of a damage insurer?

A.To negotiate commercial sales commissions directly with independent insurance brokerage agencies

B.To coordinate the calculation of technical reserves and check the adequacy of the methods, models and data, and to give opinions on underwriting and reinsurance policies

C.To approve the institution's investment policy on behalf of the board

D.To manage all cash disbursements for day-to-day administrative vendor invoices

Explanation: LISF art. 69 requires an effective corporate governance system that includes an actuarial function, developed in CUSF Chapter 3.5. Its tasks include coordinating the calculation of technical reserves, checking the adequacy of the methods, models and data used, and giving opinions to the board on the general underwriting policy and on the adequacy of reinsurance arrangements.

10Under the LISF, what regime applies to the technical notes of damage insurance products offered to the public?

A.Prior approval regime (autorización previa), where sales cannot commence until the CNSF issues an express approval decree after a 90-day review

B.Registration regime (registro de productos), where insurers register the technical note signed by a certified actuary prior to offering the product, with the CNSF retaining ex-post review powers

C.Total deregulation, requiring no technical note documentation or actuarial filing for commercial products

D.Solely filing with the Mexican Federal Competition Commission (COFECE) without notifying the CNSF

Explanation: LISF art. 210 allows institutions to offer operations to the public only after the supporting technical notes are registered with the CNSF, and art. 201 defines a product as the technical note, the contractual documentation and a dictamen de congruencia. Art. 202 requires prior registration of adhesion-contract products. The CNSF keeps supervisory powers to review registered products.

About the CNSF Actuario Daños Exam

Independent CNSF Actuario Daños practice by OpenExamPrep. The CNSF knowledge accreditation for actuaries in Property & Casualty (Campo Básico IV: Daños) is granted by category (technical notes, reserve methods and valuation, and the Prueba de Solvencia Dinámica), each through a Spanish, computer-based, open-book exam of up to 6 hours under CUSF Chapter 31.1; the dictamen on reserve sufficiency has its own two-part exam under Chapter 31.2. These questions cover Mexican P&C insurance regulation (LISF, LSCS, CUSF Titles 4 and 5), statistical frequency and severity distributions, credibility ratemaking, loss triangle reserving (Chain Ladder, Bornhuetter-Ferguson, Cape Cod), catastrophic risk reserves (terremoto and riesgos hidrometeorológicos), reinsurance treaties, and the Requerimiento de Capital de Solvencia (RCS). This is an English-language MCQ study adaptation, not an official translation or a simulation of the CNSF exam.

Exam sponsor: Comisión Nacional de Seguros y Fianzas (CNSF), Dirección General de Supervisión Actuarial. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

The CNSF accredits each category separately for each campo básico (CUSF 31.1.2 and 31.1.11): technical notes, reserve methods and valuation, and the Prueba de Solvencia Dinámica, each through its own computer-based exam of up to 6 hours. The dictamen on reserve sufficiency is a separate two-part accreditation under Chapter 31.2 (up to 8 and 6 hours). The 2026 calendar offers all four for Daños.

Time Limit

6 hours maximum

Passing Score

At least 70% of total formulated items (CUSF Disposition 31.1.9)

Exam / Certification Fees

MXN 2,246 in 2026 under the CNSF payment catalog

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Official sources

CNSF — Actuarios Certificados y Acreditación de Conocimientos · Source checked 2026-09-29Regulatory overview, accreditation requirements under CUSF Title 31, and official links to temarios
Circular Única de Seguros y Fianzas, Chapter 31.1 (CNSF Interactiva) · Source checked 2026-09-29Accreditation categories (31.1.2), Campo IV Daños (31.1.3), 6-hour duration (31.1.7), permitted materials (31.1.8), 70% passing mark (31.1.9), and 2-year validity (31.1.11)
CNSF — Calendario de Exámenes para la Acreditación de Conocimientos 2026 · Source checked 2026-09-292026 schedule for Campo IV Daños sessions covering notas técnicas, reservas, and PSD
CNSF — Contenido Temático Daños · Source checked 2026-09-29Official syllabus covering P&C pricing, non-life technical reserves, catastrophic risk reserves, reinsurance, and RCS
CNSF — Catálogo de Pagos de Derechos 2026 · Source checked 2026-09-292026 fee: MXN 2,246 for actuarial knowledge accreditation examination in insurance and surety

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

20% of practice bank

Marco Normativo y Función Actuarial de Daños

LISF, LSCS, CUSF regulatory framework, P&C ramos classification (fire, earthquake, hydrometeorological, liability, auto, marine, technical), technical note filing rules, and actuarial audit standards

30% of practice bank

Primas y Tarificación Actuarial de Daños

Collective risk theory, frequency modeling (Poisson, Negative Binomial), severity modeling (Lognormal, Gamma, Pareto), Generalized Linear Models (GLMs), credibility theory (Bühlmann, Bühlmann-Straub), bonus-malus systems, and catastrophe premium calculation

30% of practice bank

Valuación de Reservas Técnicas de Daños

CUSF Title 5 chapters 5.1 to 5.5, 5.7, 5.13, 5.17, Best Estimate Liabilities (BEL) plus risk margin, claims pending valuation, IBNR triangulation methods (Chain Ladder, London Chain, Bornhuetter-Ferguson, Cape Cod), and catastrophic reserves for earthquake and hurricane

20% of practice bank

Reaseguro, RCS y Prueba de Solvencia Dinámica en Daños

Proportional (quota share, surplus) and non-proportional (excess of loss, catastrophe XL) reinsurance, retention limits (LISF arts. 258 to 260 and CUSF 9.1), the Requerimiento de Capital de Solvencia (RC_TyFS as a 99.5% one-year VaR and RC_PML for earthquake and hurricane under CUSF 6.4), own-funds tiers, and the Prueba de Solvencia Dinámica (CUSF 7.2)

Preparing for the CNSF Actuario Daños Exam

What You Need to Know

Passing score: At least 70% of total formulated items (CUSF Disposition 31.1.9)
Assessment: The CNSF accredits each category separately for each campo básico (CUSF 31.1.2 and 31.1.11): technical notes, reserve methods and valuation, and the Prueba de Solvencia Dinámica, each through its own computer-based exam of up to 6 hours. The dictamen on reserve sufficiency is a separate two-part accreditation under Chapter 31.2 (up to 8 and 6 hours). The 2026 calendar offers all four for Daños.
Time limit: 6 hours maximum
Exam / certification fees: MXN 2,246 in 2026 under the CNSF payment catalog Official sources

Using Our Practice Resources

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CNSF Actuario Daños: Suggested Study Strategy

1Practice loss reserving triangle calculations: calculate age-to-age development factors, select link ratios, calculate cumulative factors, and determine IBNR by subtracting reported claims from ultimate losses.

2Understand the mechanics of Bornhuetter-Ferguson reserving: combine an a priori expected loss ratio with observed loss development percentages to estimate unpaid claims for immature accident years.

3Study the reserva de riesgos catastróficos under CUSF Chapter 5.6: accumulation from retained risk premiums and returns, the PML-based ceiling of 5.6.6, fraction VI, and the uses the CNSF may authorize (5.6.6, fraction V, and 5.6.7).

4Learn the structure of the Mexican RCS for damage insurers: RC_TyFS measured as a 99.5% one-year VaR with the CNSF's system, plus RC_PML for earthquake and hurricane risks (CUSF 6.4), rather than EU-style premium and reserve shock parameters.

Frequently Asked Questions

What lines of business are covered in the Daños actuarial accreditation?

LISF art. 25, fraction III, lists the damage ramos: responsabilidad civil y riesgos profesionales, marítimo y transportes, incendio, agrícola y de animales, automóviles, crédito, caución, crédito a la vivienda, garantía financiera, riesgos catastróficos (such as earthquake and hurricane and other hydrometeorological risks) and diversos, plus any special ramos declared under the LISF.

What is the format and duration of the exam?

Under CUSF Dispositions 31.1.7 and 31.1.8, each exam lasts up to 6 hours and is taken in person on computers at CNSF facilities. Candidates may use books, calculators and laptop computers, and may ask the supervisor for scratch paper; cell phones and mobile broadband devices are prohibited.

What score is required to pass and how long is the accreditation valid?

Candidates need at least 70% of the items formulated (CUSF 31.1.9). The oficio de acreditación is valid for 2 years (31.1.11). Refrendo requires at least 80 hours of continuing education over the two years, including a 6-hour regulatory update course, with at least 80% in evaluated courses, filed at least 10 business days before expiry (31.1.12).

How are catastrophic risk reserves regulated under Mexican CUSF rules?

Under LISF art. 216 and CUSF Chapter 5.6, insurers writing earthquake and hurricane or other hydrometeorological risks constitute a cumulative reserva de riesgos catastróficos. It grows with the retained risk premium and its returns, is capped by a limit based on the probable maximum loss (5.6.6), and may be used only in the cases the CUSF allows, with prior CNSF authorization. Separately, the earthquake RRC risk premium is computed with the CNSF's technical bases and system (CUSF 5.1.5).

Is this practice bank an official CNSF exam simulation?

No. The official exams are taken in Spanish under CNSF supervision. This bank is an independent English-language MCQ study adaptation, not an official translation or a simulation of the CNSF exam.