The Society of Actuaries (SOA) is making changes to the Fundamentals of Actuarial Practice (FAP) e-Learning course beginning in January 2020. The new FAP course provides candidates with more interactive learning and international content.
We are introducing interactive scenarios to create a more engaging candidate experience. These innovative activities will reinforce key skills and help candidates prepare for the Interim Assessment and Final Assessment. Improved quizzes and tests within the modules will allow candidates to self-assess their understanding through more frequent feedback.
The new FAP course offers a broader international scope. It will incorporate cases and examples from the countries where candidates work and study. We consulted with top actuarial employers including companies with no specific interests outside of North America. Each supported the model we proposed for international exposure.
The new course will place an emphasis on skill-building activities in real-life business scenarios. Every module will include expanded guidance on written communication skills. We have enhanced this aspect based on feedback from employers and prior candidates.
The SOA recognizes the significant amount of time candidates invest in their studies. The changing needs of the profession require new content. Based on your feedback, we know you need these changes streamlined to accommodate studying. The FAP changes reduce redundancies and clarify the purpose of required readings and case studies.
The new Interim Assessment (IA) splits the current longer assessment, delivered after Module 5, into manageable pieces. Questions will be at the end of Modules 1-7, replacing the current End-of-Module (EOM) exercises. Questions will be in the style of the current IA. Fewer questions to complete at one time means less time to submit each piece; the timing provided will be enough for a candidate to comfortably prepare each response. Grades will be released module by module. This way, candidates will receive more targeted feedback on their areas of strength and where they need improvement.
The Final Assessment (FA) will continue to follow Module 8, but we are making improvements to how it is administered and how much feedback is provided.
What’s Staying the Same?
Should I Wait to Register for the New FAP?
The table below lists the registration and release dates for this new FAP course.
Can I Choose to Transfer from the Current FAP to the New FAP?