Fundamentals of Actuarial Mathematics (FAM) Exam
Overview
The Fundamentals of Actuarial Mathematics (FAM) Exam provides an assessment of candidates' actuarial methods in modeling, both short-term and long-term.
During the ASA curriculum transition, October 2022 to July 2024, the SOA will offer FAM as two pieces: Fundamentals of Actuarial Mathematics – Long-Term (FAM-L) and Fundamentals of Actuarial Mathematics – Short-Term (FAM-S).
FAM-S provides an assessment of actuarial methods useful in modeling, foundational principles of ratemaking and reserving for short-term coverages.
FAM-L provides an assessment of contingent payment models and their application to insurance and other financial risks.
Candidates that have transition credit for FAM-L must pass FAM-S during the transition period, and vice versa. Candidates without FAM-L or FAM-S credit must take the full FAM Exam.
How should I study?
To study for the Fundamentals of Actuarial Mathematics (FAM) Exam, start with the applicable syllabus and continue with the other materials on the Fundamentals of Actuarial Mathematics (FAM) Exam Study page.
Related Links
- Exam Center Locations – February 1, 2024
- 2024 Form to Report Capacity and Other Issues