The following is an overview of the actuary exams one must take for the the Society of Actuaries and the Casualty Actuarial Society. SOA Exams P, FM, and C are identical to the CAS exams 1, 2, and 4 respectively.
SOCIETY OF ACTUARIES – Life, Health/Welfare, Pension Actuaries
Associate Examinations
- Course P: Probability
- Course FM: Financial Mathematics*
- Course M: Actuarial Models*
- Course C: Construction and Evaluation of Actuarial Models*
- Course 5: Application of Basic Actuarial Principles
- Course 6: Finance and Investments
Fellowship Examinations
- Course 7: Applied Actuarial Modeling
- Course 8: Advanced Specialized Actuarial Practice
*SOA is now revising a new syllabus for these courses. Exams will be extended to accommodate additional material. Exam FM will be extend from two to two and a half hours Exam M will be extend from four to five hours.
These changes will be effective starting Spring 2007. Consult the SOA website for more information.
CASUALTY ACTUARIAL SOCIETY – Property and Casualty Actuaries
Associate Examinations
- Course 1: Probability
- Course 2: Financial Mathematics
- Course 3: Statistics and Actuarial Models
- Course 4: Construction and Evaluation of Actuarial Models
- Course 5: Introduction to Property and Casualty Insurance and Ratemaking
- Course 6: Reserving, Insurance Accounting Principles, and Reinsurance
- Course 7: Nation-Specific Examination: Annual Statement, Taxation, and Regulation
Fellowship Examinations
- Course 8: Investments and Financial Analysis
- Course 9: Advanced Ratemaking, Rate of Return, and Individual Risk Rating Plans
Calculators allowed on these exams:
- Battery of solar-powered Texas Instruments BA-35 (the official SOA/CAS calculator)
- Texas Instruments BAII Plus
- Texas Instruments BAII Plus Professional
- Texas Instruments TI-30X or TI-30Xa (the official CAS calculator
- Texas Instruments TI-30X II (IIS solar or IIB battery)
- You may use more than one of the approved calculators during an examination
