Pass SOA Exam FM
AnalystPrep's Study Materials for the SOA FM Exam
SOA Exam FM is usually the second exam most actuarials students sit for. It consists of a vast amount of material contained made up of 8 different topics. Since the amount of information to memorize and understand can be overwhelming, we’ve produced comprehensive Financial Mathematics study notes in an easy-to-read format to help you learn efficiently and effectively. These study notes cover each learning objective given by the Society of Actuaries one-by-one.
Our Exam FM question bank has been developed by academics in the field of actuarial sicences with first-hand experience of the exam. Our instructors know what it takes to pass. Our question bank is divided into specific topics to help you attain an all-round understanding of the curriculum. Every question is accompanied by a detailed solution.
Some harder concepts such as Macaulay duration, immunization, and interest rate swaps are well covered in our extensive study notes and question bank. In the event that you’d like some clarification on a specific concept, our instructors are reachable round the clock. Plus, you can create an unlimited number of customizable quizzes to focus on certain topics that need specific attention.
Questions Answered by our Users
Would Recommend AnalystPrep to Others
What Should You Expect about Exam FM from the Society of Actuaries?
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.
The exam focuses on mastering the rudimentary aspects of financial mathematics used in valuing financial instruments such as bonds and interest rate swaps. Knowledge of calculus and an introductory knowledge of probability is assumed. There are 8 board topics listed below. Each topic has several learning objectives around which the exam is concentrated. An examples of a learning objective would be: “Given sufficient information, calculate the market value, notional amount, spot rates or swap rate of an interest rate swap, deferred or otherwise, with either constant or varying notional amount”.
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 8 main topics and their weighting in the exam:
|1||Time Value of Money||10-15%|
|2||Annuities/cash flows with non-contingent payments||15-20%|
|5||General Cash Flows and Portfolios||15-20%|
|7||Interest Rate Swaps||0-10%|
|8||Determinants of Interest Rates||0-10%|
“Thanks to your program I passed the first level of the CFA exam, as I got my results today. You guys are the best. I actually finished the exam with 45 minutes left in [the morning session] and 15 minutes left in [the afternoon session]… I couldn’t even finish with more than 10 minutes left in the AnalystPrep mock exams so your exams had the requisite difficulty level for the actual CFA exam.”
“I loved the up-to-date study materials and Question bank. If you wish to increase your chances of CFA Exam success on your first attempt, I strongly recommend AnalystPrep.”
“Before I came across this website, I thought I could not manage to take the CFA paper alongside my busy schedule at work. But with the up-to-date study material, there is little to worry about. The Premium package is cheaper and the questions are well answered and explained. The question bank has a wide range of examinable questions extracted from across the whole syllabus. Thank you so much for helping me pass my first CFA papers.”
I cleared FRM -I (May-2018) with 220.127.116.11. Thanks a lot to AnalystPrep and your support.
“@AnalystPrep provided me with the necessary volume of questions to insure I went into test day having in-depth knowledge of every topic I would see on the exams.”
“Great study materials and exam-standard questions. In addition, their customer service is excellent. I couldn’t have found a better CFA study partner.”
“I bought their frm part 1 package and passed the exam. Their customer support answered all of my questions when I had problems with what was written in the curriculum. I’m planning to use them also for the frm part 2 exam and CFA level 1.”
“I bought the FRM premium subscription about 2 weeks ago. Very good learning tool. I contacted support a few times for technical questions and Michael was very helpful.”