The Models for Financial Economics (MFE) Exam is a three hour multiple-choice examination. Exam MFE is offered via computer-based testing (CBT). It is called Exam MFE by the Society of Actuaries and Exam 3F by the CAS.

The syllabus for Exam MFE develops the candidate's knowledge of the theoretical basis of certain actuarial models and the application of those models to insurance and other financial risks. A thorough knowledge of calculus, probability and interest theory is assumed. Knowledge of risk management at the level of Exam 1/P is also assumed. In addition, for Exam MFE/3F, candidates are assumed to be familiar with the earlier chapters of the McDonald text, which are in the syllabus of Exam 2/FM.

For more details on Exam MFE including syllabus, study materials and exam day information, visit the Be An Actuary website.