FAP Assessment Grading Information

To all FAP Candidates:

As you are likely aware we are quickly approaching the July 1, 2018 ASA and CERA curriculum changes transition. We believe that as a candidate currently working to complete the Fundamentals of Actuarial Practice (FAP) course, your goal may be to complete your ASA or CERA prior to that transition. 

The SOA has been deploying additional resources to ensure that its commitments regarding grading time will be met. We are writing today to add further clarity surrounding the published deadlines.

In January of 2017 we published the dates by which each component must be completed/passed in time to be applied to the current requirements and earn an ASA or CERA prior to the July 1, 2018 transition. The timing deadlines table at that link states that the last date to submit the FAP Final Assessment is March 30, 2018. 

Due to the required grading time, the following dates should also be noted with regard to FAP Interim and Final Assessment submissions:

  • Candidates who submit Interim or Final Assessments before 11:59 p.m. CST, February 20, 2018, will receive their results by 11:59 p.m. CST, March 23, 2018. Please note that this is a quicker turnaround than our published grading timeframe of approximately seven weeks. Those receiving failing Final Assessment grades or passing Interim Assessment grades will have until 11:59 p.m. CST March 30, 2018 to submit a Final Assessment and have it graded in time to meet the July 1, 2018 transition deadline should they so choose. 
  • Candidates who submit Interim or Final Assessments after 11:59 p.m. CST, February 20, 2018, who do not meet minimum requirements, will not likely receive their grade in time to submit an assessment by the March 30 deadline.
  • Candidates receiving a failing grade after March 30 will not be able to complete the FAP prior to the curriculum transition and will be held to the new requirements. Any submissions received after March 30 will be applied toward meeting the new ASA requirements.
  • Due to increased demand, Final Assessment feedback requests for those candidates who have failed two or more times will not be accepted after 11:59 p.m. CST, February 20, 2018. Acceptance of these feedback requests will resume following the July transition.

Please note that all failing assessments are graded as such by two graders. Therefore, all grades are final.

Please send any questions to elearn@soa.org.