Study Materials for CFA®, FRM®, Actuarial and GMAT® Exams

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Actuarial Exams – Complete Courses for Exams P & FM

  • Video Lessons 40+ hours
  • Question Bank 1,000+ questions
  • Students Enrolled 2,500+

Exam P (Probabilities) by the Society of Actuaries focuses on probability tools used for assessing insurance risk and financial risk. The application of calculus to problems encountered in actuarial science is emphasized and the understanding of different types of distribution functions is a focal point. Exam FM teaches the rudimentary aspects of financial mathematics, and how those theories are applied in calculating present and accumulated values for various financial instruments such as bonds and interest rate swaps. AnalystPrep’s SOA exam-style question banks only include high-quality questions that replicate the difficulty of the actual actuarial exam you’re studying for.

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Stephen Paris, PhD, ASA

Actuarial Exams – Complete Courses for Exams P & FM

$399.00

$399.00

Course Features
  • 20 Hours of Video Lessons for Exam FM
  • 600 Pages of Study Notes for Exams P & FM
  • 1,600 Practice Questions for Exams P & FM
  • Unlimited Customizable Quizzes
  • Performance Tracking Tools
  • Unlimited Ask-a-Tutor Questions
  • Lifetime Access + Curriculum Updates Every Year

Course Overview

About SOA Exam P

Exam P is a 3-hour long exam that consists of 30 multiple-choice questions. It is a computer-based exam. Each question is accompanied by 5 unique choices: A, B, C, D, and E. Given your right/wrong answer in each of the questions, you will be given easier or harder questions going forward. As such, each candidate will have a different set of 30 questions.

Exam P is focused on mastering probability concepts used in assessing financial risk. Knowledge of calculus and basic knowledge of insurance and risk management is assumed.

What are the Three Main Topics?

There are 3 board topics: (1) General probabilities, (2) Univariate random variables, and (3) Multivariate random variables. Each topic has several learning objectives around which the exam is concentrated. An example of a learning objective would be: “Explain and calculate variance, standard deviation, and coefficient of variation given univariate random variables.”

1. General probabilities: 10-17%
2. Univariate random variables: 40-47%
3. Multivariate random variables: 40-47%

About SOA Exam FM

Exam FM is a three-hour, 35 multiple-choice questions exam designed to test your knowledge of fundamental concepts of financial mathematics. SOA Exam FM’s syllabus comprises 8 topics and each one of them contributes a certain percentage of questions to the exam.

What are the Three Main Topics?

The first fours topics are quite straightforward and most actuarial students should have seen the most part of this in their undergraduate degree:

Time value of money (10-15%)

  • Annuities/cash flows with non-contingent payments (15-20%)
  • Loans (10-20%)
  • Bonds (10-20%)

The next two topics relate mostly to the investment world and can be a little more tricky for actuarial students:

  • General cash flows and portfolios (15-20%)
  • Immunization (10-15%)

And the last two topics are based on interest rate and interest rate theory, but weigh a bit less on the overall exam:

  • Interest rate swaps (0-10%)
  • Determinants of interest rates (0-10%)

Here, it is important to note that having great fundamentals in the first few topics will help you solve more easily questions from the later topics.

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Stephen Paris, PhD, ASA

Professor Paris has taught college-level classes for many decades. With a clear passion for teaching, Professor Paris has worked in the actuarial exam preparation industry for years after earning his ASA designation in 2010. His resume also includes:

☑ B.S., Mathematics, Louisiana Tech University, Ruston, Louisiana – 1988
☑ M.S., Mathematics, The Florida State University, Tallahassee, Florida – 1991
☑ Ph.D., Mathematics, The Louisiana State University, Baton Rouge, Louisiana – 1995 (Dissertation: Link Theory: Applications to Real Algebraic Curves)
☑ Has taught at different universities across the U.S.

Reviews 23

Courtney M.2022-06-14 12:52:05

Stefan Maisner is without a doubt the best tutor I could have possibly found. Stefan knew the official questions like the back of his hand and he knew all of the shortcuts. Being that i have a background in communications, the quant section had been a pain point for months. Stefan also had a background in communications and he was able to teach me in the way that I understood the math concepts that I needed to grasp, and showed me how to think logically and critically about the problems that didn't require you to do the math.

Emily L.2022-06-14 12:49:56

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Bill B.2022-06-14 12:46:51

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Ken S.2022-03-30 17:25:57

I had already taken the online prep course from another provider and had a score in the high 600s. I then worked with Stefan to prepare for my re-take of the GMAT. I was able to increase my Verbal score from 35 to 40 and finally get over the summit of 700 (720: Q48: V40.) I would like to thank him for all his help!

Harshita V.2022-03-30 17:23:44

My lessons with Stefan started almost right away and the approach he taught me was much easier to understand than what was presented in the usual GMAT guide books (several of which I had read over multiple times, and failed to implement successfully). I took the test a second time and obtained a score of 740, which was my target.

Jessie S.2022-03-30 17:22:36

Stefan was awesome! He brought up my Verbal from the 40th to 76th percentile. I would definitely use him again. Very affordable, very high quality. I went from a 650 to a 690 in a very tight timeframe.

Alex S.2022-03-30 17:22:00

I raised my score by 80 points in 8 weeks. I worked with Stefan for two months and was able to raise my GMAT score 80 points in order to apply to competitive MBA programs.

Abdulgadir M.2020-08-11 17:43:47

James Forjan is just Brilliant. I'm totally new to these exams and James Forjan's videos have been really helpful, I'm looking to take my exam this February. I'm from London, highly recommend.

Pratham K.2020-08-11 17:43:13

Loved the video series. I love the video series because the explanation is provided in the simplest manner. It is helping me in clearing my concepts.

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BIG THANK YOU! I'd like to special thank you for Prof Forjan and the team. [...] I'm more than grateful to have access to these amazing tutorials here which greatly ease my study pressure and gain confidence. [...] Once again, a big THANK YOU!

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