Fee Reimbursement Program: Academic Exam

APPLICATION DEADLINE: Application and documentation due within 90 days of grade release. 

The Academic Exam Fee Reimbursement Program was established as a means to reduce the economic barrier for university and college faculty members and graduate Ph.D. students who may lack monetary support. The SOA will reimburse 80% of the exam and assessment fees for successful full–time faculty members of accredited universities and colleges and full–time graduate students in Ph.D. programs subject to the following:

Eligibility Requirements:

University and college faculty members:

  • Must be full–time faculty member at the time the exam is taken (or the assessment is downloaded) with a university or college accredited by a nationally recognized body (documentation required).
  • Must have passed Exams P and FM.
  • Must have a passing result on exam(s) or assessment(s) submitted for reimbursement.

Graduate Ph.D. students:

  • Must be enrolled full–time in a Ph.D. program at the time the exam is taken or the assessment is downloaded (documentation required).
  • Must have no other substantial employment outside the university.
  • Must have passed Exams P and FM.
  • Must have passing result on exam(s) or assessment(s) submitted for reimbursement.

The following exams and assessments will be eligible for 80% fee reimbursement under this program (successful attempts only). However, candidates eligible for student discounts are reimbursed based on the discounted fee amount regardless of what was actually paid.

  • Exam LTAM
  • Exam IFM
  • Exam STAM
  • Exam SRM
  • Exam PA
  • FAP Assessments*
  • Fellowship-level exams

Exams and assessments taken prior to July 1, 2018 (including MFE, MLC, and C) will be reimbursed at the 100% rate.


Eligible faculty members and Ph.D. students interested in receiving a fee reimbursement for the above exams/assessments should submit an Academic Exam Fee Reimbursement application along with the required documentation. Details regarding the required documentation can be found on the application.

*If an FAP Initial or Final assessment is passed on a retake, only the retake fee amount will be reimbursed.