Study Materials for 2023 CFA®, FRM®, Actuarial, GMAT® and EA® Exams
Exam P (Probabilities) by the Society of Actuaries focuses on probability tools used for assessing insurance risk and financial risk. The application of calculus to problems encountered in actuarial science is emphasized and the understanding of different types of distribution functions is a focal point. Exam FM teaches the rudimentary aspects of financial mathematics, and how those theories are applied in calculating present and accumulated values for various financial instruments such as bonds and interest rate swaps. AnalystPrep’s SOA exam-style question banks only include high-quality questions that replicate the difficulty of the actual actuarial exam you’re studying for.
About SOA Exam P
Exam P is a 3-hour long exam that consists of 30 multiple-choice questions. It is a computer-based exam. 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.
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.
What are the Three Main Topics?
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.”
1. General probabilities: 10-17%
2. Univariate random variables: 40-47%
3. Multivariate random variables: 40-47%
About SOA Exam FM
Exam FM is a three-hour, 35 multiple-choice questions exam designed to test your knowledge of fundamental concepts of financial mathematics. SOA Exam FM’s syllabus comprises 8 topics and each one of them contributes a certain percentage of questions to the exam.
What are the Three Main Topics?
The first fours topics are quite straightforward and most actuarial students should have seen the most part of this in their undergraduate degree:
The next two topics relate mostly to the investment world and can be a little more tricky for actuarial students:
And the last two topics are based on interest rate and interest rate theory, but weigh a bit less on the overall exam:
Here, it is important to note that having great fundamentals in the first few topics will help you solve more easily questions from the later topics.
We at AnalystPrep believe in transparency. Feel free to check out some of our free videos below. We are sure you will love them.
Professor Paris has taught college-level classes for many decades. With a clear passion for teaching, Professor Paris has worked in the actuarial exam preparation industry for years after earning his ASA designation in 2010. His resume also includes:
☑ B.S., Mathematics, Louisiana Tech University, Ruston, Louisiana – 1988
☑ M.S., Mathematics, The Florida State University, Tallahassee, Florida – 1991
☑ Ph.D., Mathematics, The Louisiana State University, Baton Rouge, Louisiana – 1995 (Dissertation: Link Theory: Applications to Real Algebraic Curves)
☑ Has taught at different universities across the U.S.
I had a great experience working with Stefan! He helped me prepare for the Executive Assessment test. My score led to acceptance into the top EMBA program! I'm am not a math whiz... His approach was disciplined and fun!
Stefan helped me to push on the quantitative and verbal skills week in and week out. I really felt like I was progressing with my learning, getting confident, and pushing myself forward in the process. I went from zero to hero in only a few months and was able to hit a score on the EA that led to be accepted on a Top European Business School. A 5-star service all around.
Stefan is a brilliant tutor. I had less than 2 weeks to give it my best for my EA. His tips and guidance throughout those 2 weeks were so valuable for the test day. Stefan is just the person you want to work with when you're under peak pressure to crack any standardized test. I highly recommend Stefan for any standardized tests you want to take and get that dream score.
Stefan Maisner is without a doubt the best tutor I could have possibly found. Stefan knew the official questions like the back of his hand and he knew all of the shortcuts. Being that i have a background in communications, the quant section had been a pain point for months. Stefan also had a background in communications and he was able to teach me in the way that I understood the math concepts that I needed to grasp, and showed me how to think logically and critically about the problems that didn't require you to do the math.
I prepared for the GMAT under Stefan. It was super easy to use the online platform and was very convenient to save notes this way. Stefan is extremely knowledgable on the testing material and really cares about his students.
As an international student I did not have much standardized test taking experience and never had a tutor before. However, Stefan really helped me improve my core skills and also helped me develop crucial test taking strategies. I was able to see improvements after every single tutoring session with him. Overall, he helped me improve my GMAT score by 90 points (from 650 in diagnostic test to 740 on the actual test), which was way above what I thought was possible.
I had an amazing experience with Stefan M for my GMAT prep. When I started the process I was scoring in the low 600s, but by the end, I managed to get my score above a 700! Stefan was also great at helping me navigate the add uncertainties caused by the Covid-19 pandemic. I could not recommend him more enough!
I can definitively say that if I did not have Stefan to help me that there would be no way that I could've gotten the final score I did. His intimate knowledge of how the test works, the strategy required for each section, and his mastery of the content of the questions, puts him in the top echelons of GMAT tutors. I could not recommend him anymore to any student looking to take the GMAT.
Stefan was awesome! He brought up my verbal from the 40th to the 76th percentile. Very affordable, very high quality. I went from a 650 to a 690 in a very tight timeframe.
For the CFA level 1 test, I used Analystprep's question bank and study notes. Notes were quite informative and practical. Analystprep's online application lets you to view your notes from any computer and keeps track of your progress.
Just wanted to say thank you to everyone at Analystprep for helping me pass the CFA level 1 examination. Professor James Forjan is a very charismatic lecturer who can make these topics interesting and explains the key points well. The question bank is large and a valuable resource for exam preparation. [ ... ]
I had already taken the online prep course from another provider and had a score in the high 600s. I then worked with Stefan to prepare for my re-take of the GMAT. I was able to increase my Verbal score from 35 to 40 and finally get over the summit of 700 (720: Q48: V40.) I would like to thank him for all his help!
My lessons with Stefan started almost right away and the approach he taught me was much easier to understand than what was presented in the usual GMAT guide books (several of which I had read over multiple times, and failed to implement successfully). I took the test a second time and obtained a score of 740, which was my target.
Stefan was awesome! He brought up my Verbal from the 40th to 76th percentile. I would definitely use him again. Very affordable, very high quality. I went from a 650 to a 690 in a very tight timeframe.
I raised my score by 80 points in 8 weeks. I worked with Stefan for two months and was able to raise my GMAT score 80 points in order to apply to competitive MBA programs.
James Forjan is just Brilliant. I'm totally new to these exams and James Forjan's videos have been really helpful, I'm looking to take my exam this February. I'm from London, highly recommend.
Loved the video series. I love the video series because the explanation is provided in the simplest manner. It is helping me in clearing my concepts.
BIG THANK YOU! I'd like to special thank you for Prof Forjan and the team. [...] I'm more than grateful to have access to these amazing tutorials here which greatly ease my study pressure and gain confidence. [...] Once again, a big THANK YOU!
"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 exam 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 exam."
"Good Day! I cleared FRM Part I (May-2018) with 184.108.40.206. Thanks a lot to AnalystPrep and your support. Regards,"
“@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 exam 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 Level I of the CFA exam.”
“I bought the FRM exam premium subscription about 2 weeks ago. Very good learning tool. I contacted support a few times for technical questions and Michael was very helpful.”
Lena W.2022-10-24 17:56:51
Because of Stefan's help, I went from a score in the 46 percentile to 98 percentile! He also taught me a lot about key elements of language, reading, and logic. A true master in his craft. Besides his practical teaching methods, he was able to guide me at my level, connect the dots for me, and bring my logic higher. When I did my questions on the exam, I put on the Stefan mindset hat and questions was easier. Like how a good journalist can smell something is off.