How do I study for the actuary FM exam?
Read the Manual, Take Notes, and Do Practice Questions. The study manuals will help you get a grasp of the topics that will be covered on the exam. It’s very important that you really understand the material that is covered by the syllabus. It’s not enough to just know what numbers to plug into which formulas.
How many questions is the FM exam?
Exam FM is a 3-hour long exam that consists of 30 multiple-choice questions. Just like the P exam, it is a computer-based exam.
What is on the actuary FM exam?
The FM Exam covers in depth topics pertaining to interest theory and financial economics. Actuary candidates are expected to understand the meaning of financial terms like simple interest, compound interest, interest period of time, future value of money, inflation and present value of money.
What concepts are on exam FM?
Exam FM tests students knowledge of concepts of financial mathematics and its application to cash flow value in reserves, pricing, asset management, investment income, and capital budgeting.
How long should you study for exam FM?
If you have a busy schedule, I recommend you start studying for Exam FM about 4 – 5 months before you plan to write. That will give you sufficient time to be fully prepared while only spending about 1.5 – 2 hours per day studying.
What score is passing on exam FM?
a 6
Exam FM is scored on a scale of from 0 to 10. A score of 0 means that you met less than 50% of the grade needed in order to pass, while a score of 10 means you reached at least 140% of the grade needed in order to pass. A passing score on Exam FM is a 6.
Is exam P or exam FM easier?
Most people find Exam P to be harder than FM because of all the calculus that it involves. So, for most people, I recommend taking Exam FM as your first exam. So, if you’re planning to write an exam soon and you just finished a course that included double integration, then you should get Exam P out of the way first.
What is SOA exam?
Probability Exam (SOA Exam P): May be used to obtain Exam 1 credit with the CAS. 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.
What is the exexam FM exam?
Exam FM is a three–hour multiple–choice examination and is offered via computer-based testing (CBT). Enhanced Computer Based Scheduling:
How do I purchase an actuarial science textbook?
The Society of Actuaries (SOA) publishes actuarial science textbooks on a variety of professional interest topics. Authors are subject matter experts in their respective fields. To purchase a book, either click on the “order” link corresponding to the book or fill out an order form.
Does the SOA have a discount on professional development books?
Note: The SOA has partnered with John Wiley & Sons Inc. , , to secure discount rates for members on professional development books. The 15 percent discount should calculate upon checkout. If this discount does not appear, U.S. members should enter discount code “SOAMB.”