Actuarial Exam Preparation

Similar to numerous high level professional fields, Actuaries are required to complete a series of examinations in order to achieve the professional status of Associate Actuary and, ultimately, to reach the level of Fellow of one of the societies. In fact, many students seeking employment in this field initiate the exam testing process during their senior year of college and typically complete the exam procedure within three to five years. A student should study 100 hours for every exam hour to pass the exam. Listed below are some helpful information and study tools which can be utilized in preparation for Actuary exams.

List of Exams


Preliminary Exams (Both SOA and CAS)



Probability

Financial Mathematics

Financial Economics

Construction and Evaluation of Actuarial Models

Life Contingencies and Statistics


After the preliminary exams, you will be required to join the SOA or CAS. Once you join a society, you will have to satisfy their requirements. Specific societal exam requirements can be found below.

SOA
http://soa.org/Education/Exam-Req/default.aspx
CAS
http://soa.org/Education/Exam-Req/default.aspx


Exam Practice

  • Sample Exam and Sample Exam Solutions
    The Society of Actuaries website has a sample exam with solutions to help students prepare for the exam. Hopefully this sample exam will provide you a more concrete idea of which topics and concepts will be covered on the exam.
  • Sample Quiz
    If you have 20-30 minutes of free time, you should take this sample quiz. Most importantly, these quizzes will hone your Mathematical skills.
  • Coaching Actuaries
    The following website represents a great resource for Actuarial exam preparation. In addition, this website also provides access to tutorials, videos, sample exams, mock actuarial exams, and much more. In fact, this website pledges the tools provided on the site will guarantee a passing score, or they will pay for your next exam.
  • Infinite Actuary
    If you register for this website, you will have access to four free practice exams with solutions. Registration is free.

Exam Rules

  • Knowing the expectations beforehand will save time and problems. It is very important that before undertaking the Actuary exam, one should take a moment to read this page. In particular, this page outlines information associated with which materials you can bring, such as calculators and other tools.

Study Guides

  • Actex
    Actex is a valuable resource for those who are interested in purchasing a study guide. The publisher comes highly recommended by Actuarial students.
  • Amazon