Exam Comparison
Exam FAM vs Exam FM
Comparing the SOA Exam FAM — Fundamentals of Actuarial Mathematics and the SOA Exam FM — Financial Mathematics. Both fall under Finance & Accounting. Both are covered by the Actuary Exam Prep: P FM FAM app.
Exam FAM vs Exam FM: At a Glance
| Detail | Exam FAM | Exam FM |
|---|---|---|
| Full Name | SOA Exam FAM — Fundamentals of Actuarial Mathematics | SOA Exam FM — Financial Mathematics |
| Governing Body | Society of Actuaries (SOA) | Society of Actuaries (SOA) |
| Number of Questions | 30 | 30 |
| Time Limit | 3 hours 30 minutes | 3 hours |
| Passing Score | 60% (scaled) | 60% (scaled) |
| Exam Fee | $350 | $250 |
| Category | Finance & Accounting | Finance & Accounting |
| C3RT App | Actuary Exam Prep: P FM FAM | Actuary Exam Prep: P FM FAM |
Content Areas Compared
Exam FAM Domains
- FAM-L: Survival Models and Life Tables(~20%)
- FAM-L: Life Insurance Valuation(~15%)
- FAM-L: Life Annuities(~10%)
- FAM-L: Net Premiums and Reserves(~15%)
- FAM-S: Frequency and Severity Models(~15%)
- FAM-S: Aggregate Loss Models(~15%)
- FAM-S: Coverage Modifications and Risk Measures(~10%)
Exam FM Domains
- Interest Theory — Time Value of Money(~25%)
- Interest Theory — Annuities and Loans(~20%)
- Interest Theory — Bonds(~15%)
- Derivatives — Forwards, Futures and Swaps(~20%)
- Derivatives — Options and Investment Strategies(~20%)
Frequently Asked Questions
What is the difference between Exam FAM and Exam FM?
The Exam FAM (SOA Exam FAM — Fundamentals of Actuarial Mathematics) is administered by Society of Actuaries (SOA) and consists of 30 questions. The Exam FM (SOA Exam FM — Financial Mathematics) is administered by Society of Actuaries (SOA) and consists of 30 questions. Both are Finance & Accounting credentials.
Can I take both the Exam FAM and the Exam FM?
Yes, the Exam FAM and Exam FM are separate credentials with separate eligibility requirements. Each is awarded by a different governing body (Society of Actuaries (SOA) and Society of Actuaries (SOA) respectively). Check the official requirements for each before registering.
Which should I take first, Exam FAM or Exam FM?
The right sequence depends on your career goals and current credentials. The Exam FAM is offered by Society of Actuaries (SOA) with a passing score of 60% (scaled), while the Exam FM is offered by Society of Actuaries (SOA) with a passing score of 60% (scaled). Review the eligibility requirements for each with the respective governing bodies before deciding.
Does C3RT cover both the Exam FAM and the Exam FM?
Yes. Both the Exam FAM and Exam FM are covered in the Actuary Exam Prep: P FM FAM app for iOS and Mac.
The SOA Exam FAM — Fundamentals of Actuarial Mathematics (Exam FAM) is administered by Society of Actuaries (SOA). The SOA Exam FM — Financial Mathematics (Exam FM) is administered by Society of Actuaries (SOA). C3RT is not affiliated with either organisation. Certification names and trademarks are the property of their respective owners.
Explore Each Exam
Exam FAM
SOA Exam FAM — Fundamentals of Actuarial Mathematics
Society of Actuaries (SOA)
Full Exam FAM Guide →