Free CAS MAS-II (Modern Actuarial Statistics II) Practice Questions
The CAS MAS-II question bank is free: practice questions on credibility theory, linear mixed models, statistical learning (ridge / lasso / trees / random forests / boosting), and time series for property and casualty actuaries. From FreeFellow, where 'free' is in the brand name. No trial, no signup to browse, no credit card.
628 questions4 topics2026 syllabus
Built by Jeffrey Ting, FSA, CFA, who passed thirteen of the hardest finance exams on the first attempt. The full question bank and worked solutions are free forever.
Which of the following statements BEST describes a moving-average MA(q) process?
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Correct Answer: B
Solution
B is correct. A moving-average MA(q) process expresses Yt as a finite linear combination of the contemporaneous innovation ϵt and its q most recent lags. Because no lagged values of the series itself appear on the right-hand side, MA(q) processes are always weakly stationary for any choice of MA coefficients.
Question 2
Medium
Compared with bagging, random forests are MOST LIKELY to improve out-of-sample predictive accuracy primarily because they...
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Correct Answer: E
Solution
E is correct. Bagging averages predictions from trees fit to bootstrap samples, which by itself only modestly reduces variance because the trees remain highly correlated. The trees tend to share top-level splits on the same dominant predictors. Random forests restrict each split to a random subset of predictors, which forces the trees to diverge and lowers the pairwise correlation between them. Because the variance of an average of correlated predictors depends on that correlation, the decorrelation step lowers ensemble variance below what bagging achieves.
Question 3
Hard
Buhlmann credibility and Bayesian credibility coincide exactly under certain model specifications. Which of the following pairings of likelihood and prior produces this exact equivalence?
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Correct Answer: E
Solution
E is correct. Bayesian and Buhlmann credibility coincide exactly when the Bayesian posterior mean is itself a linear function of the observed mean. This linearity arises in the standard conjugate exponential-family models, of which the Poisson likelihood with a Gamma prior is the canonical example. Other conjugate combinations with the same exact-linearity property include Normal/Normal, Bernoulli/Beta, and Exponential/Gamma. In each, the posterior mean can be written as a credibility-weighted average of the prior mean and the observed mean with weights matching the Buhlmann formula. The non-conjugate pairings listed elsewhere lack this closed-form linear posterior, so Buhlmann is only an approximation rather than an exact match.
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Others charge $1,000+. FreeFellow gives you the 70% you need to pass for free.
The full question bank, written solutions, lessons, formula sheet, mixed practice, and readiness tracking for your MAS-II prep are free forever. No trial period, no credit card. Become a Fellow ($79/qtr) only if you want mock exams, flashcards, analytics, and a personalized study plan.
What's Free, and What Fellow Unlocks
The 70% of MAS-II prep you actually need to pass (questions, solutions, lessons, mixed practice) is free forever. The remaining 30% (mocks, flashcards, analytics, study plan) unlocks when you become a Fellow. Use the free tier as long as you like.
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Free forever
$0 · no credit card
628 practice questions with detailed solutions
Mixed practice sessions across all topics
Formula sheet and reference materials
Readiness tracking with pass-probability estimates
No paywalls on questions · no trial period · no credit card
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Timed mock exams with weighted scoring
Spaced-repetition flashcards backed by memory science
Topic-level practice to drill weak areas
Performance analytics by topic and difficulty
Personalized study plan that adapts to your exam date
How FreeFellow Compares
Per-exam pricing across the major prep providers. The FreeFellow core (questions, solutions, lessons) is free forever. The optional Fellow tier is $79 per quarter, a small fraction of what traditional providers charge.
FreeFellow
$0 · Fellow $79/qtr
Coaching Actuaries
$200–$400/exam
Traditional providers bundle prep into a single up-front fee. FreeFellow keeps the question bank and lessons free forever and charges only for deeper study tools (mocks, flashcards, analytics). All numbers are competitor list prices as of 2026.
Everything You Need to Pass
The free tier covers what most candidates need to pass. Fellow ($79/qtr) adds the pacing tools.
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628+ Practice QuestionsFREE
Every question includes a detailed, step-by-step solution.
Dates mark the start of each testing window. Projected dates follow the Casualty Actuarial Society's historical exam cadence for sittings the body has not yet published. Confirm dates directly with the Casualty Actuarial Society before registering.
Exam date
Status
May 3, 2027
Projected
Jul 28, 2027
Projected
Frequently Asked Questions
How many free MAS-II practice questions does FreeFellow have?
FreeFellow currently offers 628 free MAS-II practice questions across 4 topics, each with a detailed step-by-step solution. Questions span three difficulty levels and are aligned to the 2026 syllabus. The question bank is updated regularly.
What MAS-II topics are covered?
The questions cover 4 topics: Introduction to Credibility, Linear Mixed Models, Statistical Learning, Time Series with Constant Variance. Each topic page shows your progress and lets you filter by difficulty level. You can practice by topic to target your weak areas or take mixed-topic practice exams.
Is FreeFellow really free for MAS-II prep, or is there a catch?
No catch. The 70% of MAS-II prep you actually need to pass is free forever: the full question bank of 628 practice questions, detailed solutions on every question, mixed practice, the formula sheet, and readiness tracking. No trial period, no credit card. The remaining 30% (timed mock exams, flashcards with spaced repetition, performance analytics, and a personalized study plan) unlocks when you become a Fellow.
What does the $79 Fellow tier unlock for MAS-II?
Fellow ($39 per month or $79 per quarter, per track; the $199 annual is Fellow Plus) unlocks four things on top of the free tier: timed mock exams with weighted scoring that match the real exam blueprint, spaced-repetition flashcards built on memory science from cognitive psychology, topic-level practice to drill weak areas, performance analytics broken down by topic and difficulty, and a personalized study plan that adapts to your exam date. Everything else (questions, solutions, lessons) stays free.
How does FreeFellow compare to Coaching Actuaries, ASM, or TIA on price?
Traditional MAS-II prep providers charge $200 to $3,500 for a single exam, paid upfront. FreeFellow keeps the question bank, written solutions, and lessons free forever. The optional Fellow tier is $79 per quarter (a small fraction of what the big providers charge) and adds mock exams, flashcards, analytics, and a study plan. You can pass MAS-II entirely on the free tier.
How should I use FreeFellow to study for MAS-II?
Start with topic-based practice to identify weak areas. As your exam date approaches, switch to timed practice exams under realistic conditions. The free tier gives you everything you need to build mastery; if you want pacing tools (mock exams, analytics, a study plan) and long-term retention aids (spaced-repetition flashcards), become a Fellow.
What calculator is allowed on MAS-II?
The CAS permits the Texas Instruments TI-30XS MultiView on all exams. No other calculators are allowed.
What is the MAS-II exam format?
CAS Exam MAS-I is a 4-hour computer-based exam with multiple-choice questions covering probability models, statistics, and regression. It is administered at Prometric testing centers.
About FreeFellow
Jeffrey Ting
FSA, CFA · Founder
FreeFellow was built by Jeffrey Ting, a credentialed actuary and CFA charterholder who passed thirteen of the hardest exams in finance on the first attempt, and paid four-figure prep fees for every one. The learning itself was always free. The price was a moat.
So he started writing his own questions, then lessons, then mock exams, until it grew into a full prep platform covering 35 finance credentials with more than 40,000 original practice questions. The name says exactly what it is: the question bank is free, and Fellow is what you become once you pass.
01
Cost shouldn't decide who gets in.
The exam is a fair gate. A four-figure prep course is not. FreeFellow takes the second gate down, so the exam is the only one left.
02
Free should mean free.
No trial clock, no email gate, no credit card. The question bank, worked solutions, lessons, and readiness score stay free, and they are enough to pass.
03
Built by someone who sat where you sit.
He paid for the big-name courses, found nothing he respected, and built the prep he wished had existed. Not a marketing team that has never sat an exam.
