ASC Illinois
Actuarial Science at Illinois
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Exam 3

Exam 2/FM

 
 

Overview

What does Exam 2/FM stand for?

The CAS refers to this exam as Exam 2, and the SOA refers to this exam as Exam Financial Mathematics or Exam FM. Exam 1/P and Exam 2/FM are generally interchangeable as the first two Actuarial Exams to take.

Format

Exam FM has 35 questions and a 3 hour time limit.

What is some relevant coursework at the u of i?

ASRM 210, as well as ASRM 392 (FM section)

What calculator should be used?

Allowed calculator:

  • 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 most ideal calculator for Exam FM from the list about would be the BA II Plus/BA II Plus Professional.

When do I take the exam?

Ideally, it is best to take FM soon after you complete or concurrently with ASRM 210, so that the material is fresh in your mind. What year that may be in college is dependent on your schedule. However, if you are self-motivated enough to learn the material yourself, it is possible to pass FM before taking ASRM 210.

How long should I study?

The general rule of thumb is 100 hours of studying for every hour of the exam. However, what each person will need to pass will greatly vary; some may need far less than this, some may require more.

How to Register:

Registration can be done through the SOA website. You can register for an exam up to about a month before the sitting date. Exam FM is held over a two week period in the even months (February, April, June, etc.).

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