ASC Illinois
Actuarial Science at Illinois
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Probability

Exam P

 
 

Overview

What does Exam P stand for?

The Society of Actuaries (SOA) refers to this exam as the Probability Exam or Exam P. The Casualty Actuary Society (CAS) refers to this exam as Exam 1. Exam P and Exam FM are interchangeable as the first two actuarial exams to take.

Format

Exam P has 30 questions and a 3 hour time limit.

What are the relevant courses at University of Illinois?

There are three options at UIUC to learn Exam P material:

  • ASRM 401

  • STAT 408

  • STAT 400 and STAT 410

One of these three tracks is required for the Actuarial Science major requirements. For additional studying, you can take the P Section of ASRM 392.

What calculator should be used?

Allowed calculators:

  • BA-35

  • BA II Plus

  • BA II Plus Professional

  • TI-30Xa

  • TI-30X II (IIS solar or IIB battery)

  • TI-30XS MultiView (or XB battery)

The best calculator for Exam P is the TI-30XS MultiView.

When do I take the exam?

It is recommended to take Exam P immediately after taking either ASRM 401, STAT 408, or STAT 400 and STAT 410 as the material will be fresh in your mind.

How long should I study?

In general, the rule to go by is 100 hours of studying per hour of exam. For most people, this would mean beginning to study about three to four months before the exam date.

How to Register:

Registration for Exam P is through the SOA website. Registration is available up to one month before the sitting date. Exam P is held over a two week period in the odd months (January, March, May, etc.).

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