ASTAM Excel Question Strategy

The Spring 2026 syllabus says ASTAM is a three-hour, six-question, 60-point exam. One question is answered in the Excel workbook; the other five are answered in written booklets. The workbook question is graded from the workbook, not from scratch paper or the written booklet.

Use the dedicated Excel tutorial for workbook mechanics. Use this strategy page for how to convert those mechanics into points: visible formulas, correct parameter translation, clear model selection, and a final interpretation cell.

Practice Normal, Binomial, Poisson, Chi-Squared, Negative Binomial, Gamma, F, and Lognormal probability and inverse functions. The point is not to memorize every Excel argument in isolation. The point is to know which distribution the actuarial model calls for and to enter the parameters consistently.

Negative binomial deserves special care because Excel's parameterization differs from the Loss Models beta notation. Translate before using the function, and label the translated parameter in the workbook.

A common ASTAM Excel shape is: define a parameter cell, calculate fitted probabilities or fitted values from that parameter, calculate a target expression, then use Goal Seek to make the target equal zero or a specified value.

A grader-friendly workbook leaves the trail visible. Keep the parameter cell separate, label the target cell, avoid hard-coded final answers, and use formulas down the table. If you must type a numeric starting value, label it as a starting value rather than as the answer.

Create a five-row frequency table with counts for 0, 1, 2, 3, and 4 claims. Fit a geometric model by computing fitted probabilities from one beta cell. Then add a zero modified version with a separate p0 cell and use Goal Seek to solve the beta score equation.

After the workbook calculates both maximum log-likelihoods, add a one-line likelihood-ratio-test decision cell. This drill mirrors the skill stack in released ASTAM Excel materials without reproducing any official question.

Do not paste values where formulas should be. The ASTAM instructions prefer formulas because formulas help graders assign credit. Do not hide calculations on scratch sheets that are not submitted or in comments that may not be readable.

Do not overbuild. A simple table with clear labels, visible formulas, and a final interpretation cell is better than a clever workbook that only you can understand.