Announcement: In response to the coronavirus outbreak, the Society of Actuaries is offering candidates in mainland China the option to reschedule or cancel exams running now through March 31. The SOA will provide a full refund for cancelled exams. Contact SOA Customer Service to reschedule or cancel your exam.  

MFE: Models for Financial Economics

The Models for Financial Economics (MFE) Exam is a three hour multiple-choice examination. Exam MFE is offered via computer-based testing (CBT).

Computer Based Testing is a Two Step Process:

  • STEP 1: Register with the Society of Actuaries by the deadline date
  • NEXT – Wait 3-5 business days to receive 2nd email – Letter of Confirmation
  • STEP 2: Schedule a seat at a Prometric Center

After July 1, 2018 this exam will be revised and renamed the Investment and Financial Markets Exam. Learn more.

The syllabus for Exam MFE develops the candidate's knowledge of the theoretical basis of financial 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 P is also assumed. In addition, for Exam MFE administrations through March 2017, candidates are assumed to be familiar with the earlier chapters of the McDonald text, which are in the syllabus of Exam FM.

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