When preparing for the SOA Exam C, understanding how to model and simulate catastrophic risk scenarios is essential, especially since these skills form the backbone of many actuarial analyses. Catastrophic risks, such as hurricanes, earthquakes, or floods, are complex and rare but can cause enormous financial losses. Being able to model these scenarios accurately helps actuaries estimate potential losses, price insurance products, and manage risk effectively. In this article, I’ll walk you through practical steps and real-data case studies that illustrate how to tackle catastrophic risk modeling and simulation, all with a focus on Exam C preparation.