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AnalystPrep's Study Materials for the SOA P Exam
To master each learning objective of the probabilities exam step-by-step, read our study notes. These study notes teach you all of the content of the SOA exam with relevant and easy-to-understand question examples. Once you have read a chapter, jump into the question bank and see for yourself if you can solve some of the hardest practice questions.
Each actuarial exam preparation package comes with an SOA question bank that contains hundred of practice questions tailored to teach you all of the rudimentary aspects of the actuarial science. To succeed in the probability exam, you will need to solve numerous hard, mathematical practice questions on the three main topics given to you by the Society of Actuaries: (1) General probabilities, (2) Univariate random variables, and (3) Multivariate random variables. Our SOA question bank will teach you how to solve practice problems on concepts such as probability density functions, cumulative distribution functions, and marginal probability distributions.
You can also create an unlimited number of quizzes to test your understanding of one or more topics at the same time. Once you have covered all of the content, you can also simulate the actual exam using our Quiz function.
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What Should you Expect from Exam P?
Exam P is a 3-hour long exam that consists of 30 multiple-choice questions. It is a computer-based exam.
Exam P is focused on mastering probability concepts used in assessing financial risk. Knowledge of calculus and basic knowledge of insurance and risk management is assumed. There are 3 board topics: (1) General probabilities, (2) Univariate random variables, and (3) Multivariate random variables. Each topic has several learning objectives around which the exam is concentrated. An example of a learning objective would be: “Explain and calculate variance, standard deviation, and coefficient of variation given univariate random variables.”
Each question is accompanied by 5 unique choices: A, B, C, D, and E. Given your right/wrong answer in each of the questions, you will be given easier or harder questions going forward. As such, each candidate will have a different set of 30 questions.
Here are the 3 main topics and their weighting in the exam:
| Topic | Weighting | |
| 1 | General probabilities | 10-17% |
| 2 | Univariate random variables | 40-47% |
| 3 | Multivariate random variables | 40-47% |
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