Spring 2025 Archived Syllabi
View an archive of the Spring 2025 FSA Syllabi, including updates that were made.
- Corporate Finance and ERM (CFE) Track
- Quantitative Finance and Investment (QFI) Track
- Individual Life and Annuities (ILA) Track
- Retirement Benefits (RET) Track
- Group and Health (GH) Track
- General Insurance (GI) Track
Corporate Finance and ERM (CFE) Track
Enterprise Risk Management (ERM) Exam
Syllabus with Learning Objectives/Outcomes and Readings
List of Excel Functions That May Be Useful on CFE/ERM Exams
Workbook with Examples of Excel Functions
Updates:
- September 24, 2024
The List of Excel Functions and Workbook with Examples have been updated. - August 13, 2024
The case study PDF and Excel files are now available. - May 13, 2024
Chapter 15 from the Quantitative Enterprise Risk Management text by Hardy and Saunders has been removed from Learning Objective 3 resources.
Foundations of Corporate Finance and Enterprise Risk Management (CFEFD) Exam
Syllabus with Learning Objectives/Outcomes and Readings
List of Excel Functions That May Be Useful on CFE/ERM Exams
Workbook with Examples of Excel Functions
Updates
- September 24, 2024
The List of Excel Functions and Workbook with Examples have been updated. - August 9, 2024
The case study is now available.
Strategic Decision Making (CFESDM) Exam
Syllabus with Learning Objectives/Outcomes and Readings
List of Excel Functions That May Be Useful on CFE/ERM Exams
Workbook with Examples of Excel Functions
Updates
- The Spring 2025 case study is available
Quantitative Finance and Investment (QFI) Track
Quantitative Finance and Investment Quantitative Finance (QFIQF) Exam
Syllabus with Learning Objectives/Outcomes and Readings
Updates
- February 05, 2025
The formula package is now available.
Quantitative Finance and Investment Portfolio Management (QFIPM) Exam
Syllabus with Learning Objectives/Outcomes and Readings
Updates
- August 21, 2024
The Formula Package is now available
Quantative Finance and Investment Risk Management (QFIIRM) Exam
Syllabus with Learning Objectives/Outcomes and Readings
Updates
- January 14, 2025
The formula package is now available.
Individual Life and Annuities (ILA) Track
Life Product Management (ILALPM) Exam
Syllabus with Learning Objectives/Outcomes and Readings
Updates
- August 12, 2024
The case study PDF and Excel file are now available.
Life Financial Management (ILALFMU/C) Exam
Syllabus with Learning Objectives/Outcomes and Readings – U.S.
Syllabus with Learning Objectives/Outcomes and Readings – Canada
Updates
- January 16, 2025
The sections under LO1 for certain chapters from the US GAAP for Insurers text have updated since it officially published. Please note that Chapter 7 includes sections 1-3, 5-7, and Chapter 13 includes sections 13.1.3, 13.2 & 13.3.
In LO 1 the Companion files for US GAAP for Insurers text has been updated.
Life ALM & Modeling (ILALAM) Exam
Syllabus with Learning Objectives/Outcomes and Readings
Retirement Benefits (RET) Track
Funding and Regulation (RETFRC) Exam
Syllabus with Learning Objectives/Outcomes and Readings
Design and Accounting (RETDAU/C) Exam
Syllabus with Learning Objectives/Outcomes and Readings - U.S.
Syllabus with Learning Objectives/Outcomes and Readings - Canada
Updates
- February 4, 2025
The Case Study (U.S.) and Case Study (Canada) are now available.
Retirement Plan Investment and Risk Management (RETRPIRM) Exam
Syllabus with Learning Objectives/Outcomes and Readings
Group and Health (GH) Track
Group and Health Design and Pricing (GHDP) Exam
Syllabus with Learning Objectives/Outcomes and Readings
Updates
- November 12, 2024
The listing for the Insuring Long-Term Care, Eaton, Robert, et. al., 2nd Edition, 2024, has been corrected under LO1 and LO2. Chapter 2 is the same as the previous edition, Chapter 4 is newly added to the second edition. For LO2, the chapters have updated to Chapter 9 and 10 in the second edition. - January 23, 2025
Calculated Risk: Driving Decisions Using the 5/50 Research, SOA Research Jan 2025, sections 1 (background only), 2 & 3
Excel Model: Calculated Risk For the Spring 2025 session, candidates may study from either the January 2024 or January 2025 version. - February 25, 2025
Technical note to candidates sitting for the Spring 2025 GHDP Exam: All responses for each question and subpart are to be provided in the Excel spreadsheet for this sitting. Graders will only look at work submitted in the Excel file.
Group and Health Valuation and Regulation (GHVRU/C) Exam
Syllabus with Learning Objectives/Outcomes and Readings – U.S.
Syllabus with Learning Objectives/Outcomes and Readings – Canada
Updates:
- On page 9 of study note GHVR-721-25, in the Canadian syllabus, the Co-insurance percent in Table 2 should be 32%.
Group and Health Risk Mitigation (GHRM) Exam
Syllabus with Learning Objectives/Outcomes and Readings
Updates:
- November 27, 2024
The link to the "Surprises in the No Surprises Act: An Interview with Greg Fann Part 2" article has been added under Learning Objective 2.
General Insurance (GI) Track
Introduction to General Insurance (GIINT) Exam
February 2025 Syllabus with Learning Objectives/Outcomes and Readings
May 2025 Syllabus with Learning Objectives/Outcomes and Readings
Ratemaking and Reserving (GIRR) Exam
Syllabus with Learning Objectives/Outcomes and Readings
Financial and Regulatory Environment (GIFREU) Exam - U.S.
Syllabus with Learning Objectives/Outcomes and Readings - US
Updates
- January 17, 2025
The case study is now available.