Exam Information

Preliminary actuarial examinations are administered by the Society of Actuaries and/or the Casualty Actuarial Society at least twice per year. There are four preliminary exams, and students are encouraged to pass at least one, but preferrably more, before graduation. The exams may be taken in any order.

Below you will find descriptions of the first three actuarial exams. For more information, including syllabi, please visit the Candidate & Exam Information Overview provided by the Society of Actuaries. For the dates and registration deadlines for future exams, please visit the online exam registration website. Note that UW-Eau Claire is an exam center for Exam FM.

Exam P/Course 1

Exam P (Probability) is a multiple-choice exam and covers topics in probability and statistics. Students should complete Math 216 (Calculus 3), Math 346 (Probability) and Math 347 (Mathematical Statistics) in advance. Study time beyond college coursework is necessary. This exam is offered via computer based testing and is being offered five times in 2008. This exam is jointly sponsored by the Society of Actuaries and the Casualty Actuarial Society.

Exam FM/Course 2

Exam FM (Financial Mathematics) is multiple-choice exam and covers interest theory and an introduction to financial derivatives. Students should take Math 350 in advance and study beyond college coursework. This exam is being offered via Computer Based Testing for the first time in 2008, and is also jointly administered by the Society of Actuaries and the Casualty Actuarial Society.

Exam M/Course 3

SOA Exam M (Models) consists of two multiple-choice exams and covers topics in basic actuarial modeling. The two exams cover life contingencies (MLC) and financial economics (MFE).

CAS Course 3 (Statistics and Actuarial Models) is a multiple-choice exam and covers topics in basic actuarial modeling and the application of those models to insurance and other financial risks.

Both SOA Exam M and CAS Course 3 are offered twice per year and both require significant study time beyond college coursework. Students should complete the first two actuarial exams and Math 450 (Foundations of Actuarial Science) before attempting either exam.

Validation by Educational Experience (VEE) Requirements

The Society of Actuaries and Casualty Actuarial Society require that students complete approved VEE coursework as part of the exam process. All of these courses are available at the University of Wisconsin Eau Claire and are part of the actuarial program. For more information, please visit our VEE Requirements overview.

Registering for an Exam

To register for an actuarial exam, please visit the online exam registration website at www.soa.org.