Welcome to your exam journey!
Below shows recommended exam order progressions and at the bottom has links to advice for nearly all preliminary (ASA) exams. Some exams can be earned with UEC credit (University Earned Credit) where you take the Penn State class for the specific exam and if you get over the threshold you get credit for the exam!
Below shows recommended exam order progressions and at the bottom has links to advice for nearly all preliminary (ASA) exams. Some exams can be earned with UEC credit (University Earned Credit) where you take the Penn State class for the specific exam and if you get over the threshold you get credit for the exam!
SOA ASA Exams
Here are a few recommended SOA ASA exams order:
P → FM → SRM → FAM → A-LTAM/A-STAM → PA → ATPA
P → FM → SRM → PA → FAM→ A-LTAM/A-STAM → ATPA
Notes:
- P and FM are interchangeable with order
- SRM and FAM can be interchangeable as well
- SRM and PA is through self-study and have overlapping material
- SRM is recommended to be first self-study exam if not P and FM
- Recommend getting 3+ exams by graduation
- Should you take exams now or later? Let Thanos answer that below:
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Exam P: 3 hour exam with 30 questions
The syllabus for Exam P develops the candidate's knowledge of the fundamental probability tools for quantitatively assessing risk. The application of these tools to problems encountered in actuarial science is emphasized. A thorough command of the supporting calculus is assumed. Additionally, a very basic knowledge of insurance and risk management is assumed. Courses to help: STAT 414, RM 214 |
Exam FM: 2.5 hour exam with 30 questions
The syllabus for Exam FM develops the candidate's understanding of the fundamental concepts of financial mathematics, and how those concepts are applied in calculating present and accumulated values for various streams of cash flows as a basis for future use in: reserving, valuation, pricing, asset/liability management, investment income, capital budgeting and valuing contingent cash flows. A basic knowledge of calculus and an introductory knowledge of probability is assumed. Courses: RM 410 (UEC Credit Class) |
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Exam SRM: 3.5 hour exam with 35 questions
The syllabus for Exam SRM provides an introduction to methods and models for analyzing data. Candidates will be familiar with regression models (including the generalized linear model), time series models, principal components analysis, decision trees, and cluster analysis. Candidates will also be able to apply methods for selecting and validating models. A thorough knowledge of calculus, probability (as covered in Exam P) and mathematical statistics (as covered in VEE Mathematical Statistics) is assumed. Courses to help: STAT 380, STAT 461, STAT 462, STAT 463 |
Exam FAM: 3.5 hour exam with 40 questions
The syllabus for the short-term section of the examination provides an introduction to modeling and covers important actuarial methods that are useful in modeling. It will also introduce candidate to the foundational principles of ratemaking and reserving for short-term coverages. A thorough knowledge of calculus, probability (as covered in Exam P), and mathematical statistics (as covered in VEE Mathematical Statistics) is assumed. The syllabus for the long-term section of the examination develops the candidate's knowledge of the theoretical basis of contingent payment models and the application of those models to insurance and other financial risks. A thorough knowledge of calculus, probability (as covered in Exam P), mathematical statistics (as covered in VEE Mathematical Statistics) and interest theory (as covered in Exam FM) is assumed. Courses: RM 411 and RM 421 (Both UEC Credit Classes) |
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Exam PA: 3.5 hour written exam
The syllabus for Exam PA provides candidates with the ability to employ selected analytic techniques to solve business problems. A thorough knowledge of probability (as covered in Exam P), mathematical statistics (as covered in VEE Mathematical Statistics), selected models and methods for analyzing data (as covered in Exam SRM) is assumed. |
Exam MAS-1: 4 hour exam
Consists of probability, statistics, and extended linear models sections |