Exams

Preliminary Exams

Probability Exam (SOA Exam P / CAS Exam 1): The exam consists of three hours of multiple-choice questions. The purpose of this exam is to develop knowledge of probability. The application of these tools to problems encountered by actuaries is emphasized. A thorough command of calculus and probability topics is assumed. Additionally, a very basic knowledge of insurance and risk management is assumed.

Financial Mathematics Exam (SOA Exam FM / CAS Exam 2): The exam consists of three hours of multiple-choice questions. This exam covers interest theory (discrete and continuous) and an introduction to derivative securities. It assumes a basic knowledge of calculus and probability.

Investment and Financial Markets (SOA Exam IFM / CAS Exam 3F): The exam consists of three hours of multiple-choice questions. The syllabus for Exam IFM develops the candidate’s knowledge of the theoretical basis of corporate finance and financial models and the application of those models to insurance and other financial risks. A thorough knowledge of calculus, probability (as covered in Exam P), basic corporate finance (as covered in VEE Accounting and Corporate Finance) and interest theory (as covered in Exam FM) is assumed.

SOA Exams

CAS Exams

Interested in more information on career development?

AO Disclaimer

The Actuarial Outpost was developed to provide the Actuarial community with a forum to exchange ideas and support actuaries who are taking the exams, as well as those interested in becoming an actuary. We encourage positive, respectful, professional communication.

All messages made available as part of this discussion group and any opinions, advice, statements or other information contained in messages posted by any third party are the responsibility of the author of that message and not of the Actuarial Outpost. Any message posted on this site does not mean that The Actuarial Outpost has endorsed that message in any way. We encourage visitors to the forum to report any objectionable message to reportcontent@actuarialoutpost.com. This forum is not monitored 24/7.

The Actuarial Outpost reserves the right to remove any information posted by a Third Party at our sole discretion. The posting of inappropriate or malicious content will not be tolerated. Participants posting offensive content will be banned from the site.