SOA Exam MLC to include a written-answer component in 2014

Effective with the Spring 2014 administration Exam MLC – Models for Life Contingencies will change from being a strictly multiple-choice exam to one with both multiple-choice and written-answer components. As the syllabus for this examination has developed in recent years, the topics and methods included are increasingly difficult to test adequately using only multiple-choice questions. Along with the addition of written-answer questions, the length of the exam will increase from three hours to four hours.

It is not expected that the source material will change as a result of adding written-answer questions (though the syllabus will be continuously reviewed, as is currently the practice). However, it is expected that some of the learning objectives will change to reflect the responses appropriate for written-answer questions.

The following will apply to the revised Exam MLC:

  • The exam will continue to be given twice per year.
  • The exam will be four hours in length.
  • The exam will be approximately 40% multiple choice and 60% written answer. This breakdown applies both to the allocation of points and the amount of time candidates are expected to work on each part.
  • Candidates can allocate their time between multiple-choice and written-answer responses as they choose.
  • It is expected that the multiple-choice questions will be more straightforward and thus require less time per question than the current MLC exam.

Method of Grading
The new structure of this examination will use a unique grading process. Only candidates with scores above a certain threshold on the multiple-choice portion of the exam will have their written-answer portion graded. For those papers that are fully graded, passing will depend only on the total score.

More details on this development will be provided as they are available later in 2013.

Please direct any questions to