Actuarial Exam FM (Financial Mathematics) Requirements & Prerequisites
Everything you need to know before registering for the Actuarial Exam FM (Financial Mathematics), eligibility, cost, format, and what to expect on exam day.
Cost
$275 per exam
Provider
SOA (Society of Actuaries)
Validity
Lifetime (per exam)
Available
Global
Education
Check official exam requirements
Experience
3-5+ years of professional experience typically required
Specific Requirements
- There is no degree requirement, no work experience requirement and no prior credential requirement to register for Exam FM.
- The SOA syllabus states that the exam assumes a basic knowledge of calculus, which is needed for variable force of interest problems.
- Candidates are expected to use one of the SOA-approved calculators, and the syllabus notes that the learning objectives were written on the understanding that such calculators are permitted.
- Exam FM has no ordering requirement with Exam P, so either can be attempted first, although many candidates sit P first.
- You need a valid, non-expired government-issued photo ID to be admitted, and a passport specifically if you test outside your country of citizenship.
Number of Questions
30 multiple-choice questions, plus a small number of unscored pilot questions placed randomly on each form
Duration
2.5 hours
Question Format
Multiple choice with five answer choices labeled A through E, one correct, Numerical calculation items where some answers have been rounded, Items that cover more than one learning outcome at once
Passing Requirement
The SOA does not publish a fixed passing percentage. The pass mark is set before each administration using Item Response Theory. It has been reported as an average of 71 percent correct on every FM sitting the SOA has published since 2023, including April 2026.
How It Is Delivered
Computer-based testing at Prometric test centers, offered over a window of several days, with each candidate receiving a form drawn from a question pool and statistical scaling applied across forms. A paper and pencil option has also been offered on a single date in some sittings.
Languages Offered
English
Visit the official SOA (Society of Actuaries) certification page
Create an account and select your exam
Choose a test center or online proctoring option
Pay the exam fee and schedule your date
- Two forms of valid ID (one government-issued with photo)
- Appointment confirmation email
- For online proctoring: webcam, microphone, clean desk, stable internet
What are the prerequisites for the Actuarial Exam FM (Financial Mathematics)?
There is no degree requirement, no work experience requirement and no prior credential requirement to register for Exam FM.. The SOA syllabus states that the exam assumes a basic knowledge of calculus, which is needed for variable force of interest problems.. Candidates are expected to use one of the SOA-approved calculators, and the syllabus notes that the learning objectives were written on the understanding that such calculators are permitted.. Exam FM has no ordering requirement with Exam P, so either can be attempted first, although many candidates sit P first.. You need a valid, non-expired government-issued photo ID to be admitted, and a passport specifically if you test outside your country of citizenship..
How much does the Actuarial Exam FM (Financial Mathematics) cost?
The Actuarial Exam FM (Financial Mathematics) exam costs $275 per exam. This includes the exam fee only, study materials are additional.
How do I register for the Actuarial Exam FM (Financial Mathematics)?
Visit the official SOA (Society of Actuaries) certification page → Create an account and select your exam → Choose a test center or online proctoring option → Pay the exam fee and schedule your date
What should I bring to the Actuarial Exam FM (Financial Mathematics)?
Two forms of valid ID (one government-issued with photo). Appointment confirmation email. For online proctoring: webcam, microphone, clean desk, stable internet.
Ready to prepare for Actuarial Exam FM (Financial Mathematics)?
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