Authored by S. David Promislow, this text is widely used for professional exam preparation. Fundamentals of Actuarial Mathematics: Promislow, S. David

The Society of Actuaries (SOA) FAM exam serves as a bridge between theoretical mathematics and practical actuarial applications.

The primary feature of , whether referring to the professional exam or the core textbook, is its dual focus on short-term and long-term actuarial methods . Key Features of the SOA FAM Exam

: Covers foundational principles for both short-term (e.g., ratemaking, loss reserving, frequency/severity models) and long-term (e.g., life insurance, annuities, contingent payment models) risks.

: It is a mandatory step in the Associate of the Society of Actuaries (ASA) pathway, replacing the previous separate short-term and long-term components.

: As of November 2024, the exam consists of 34 multiple-choice questions to be completed in 3.5 hours .

: Assumes a strong foundation in calculus, probability (Exam P), and financial mathematics (Exam FM).