The actuarial path, with every formula derived
Omni Finance Academy covers SOA preliminary exams P and FM with first-principles derivations, not memorised formulas. Every solution shows the working — because the exam will test you on a step you have not yet seen.
- Exam P and Exam FM full coverage
- Past-paper question bank with full working shown
- TI BA II Plus and TI-30XS keystroke walkthroughs
No card required · One full topic free per level · Cite-checked content
Your study path
Choose where you are. Omni Finance Academy builds the rest backward from your sitting date.
230+
LOS across Exam P and Exam FM
1,500+
Past-paper questions with full solutions
6
Sittings per year for each exam (Prometric CBT)
About the exam
What the SOA program is, and why it matters
Awarded by Society of Actuaries. Internationally recognised, evidence-driven, and the standard credential for the role.
The Society of Actuaries (SOA) preliminary exams — Exam P (Probability) and Exam FM (Financial Mathematics) — are the entry exams on the path to the Associate (ASA) and Fellow (FSA) designations. They are also widely accepted as a prerequisite step toward the Casualty Actuarial Society (CAS) credentials.
Exam P tests calculus-based probability: univariate and joint distributions, transformations, expectations, variance and conditional probability, common distribution families, and risk measures. Exam FM tests financial mathematics: time value of money, annuities, loan amortisation, bond pricing and duration, immunisation, and the basics of derivatives.
Both exams are 3-hour computer-based tests delivered by Prometric in 30–35 multiple-choice questions. The SOA scores them 0–10 with a passing grade of 6, and pass rates typically run between 40% and 55%. Omni Finance Academy is built for the way candidates actually pass these exams: every formula derived from first principles, every past-paper question worked end-to-end, and calculator-keystroke alternatives shown for both the BA II Plus and the TI-30XS.
Why Omni Finance Academy for SOA
Built for the way SOA candidates actually study
01
Derivations, not memorisation
Every formula is derived from first principles in a short proof video, so you can rebuild it under exam pressure when you blank.
02
Past papers, classified
Past SOA released questions classified by topic and difficulty band, with full timed solutions.
03
Calculator-aware solutions
Every numerical step includes BA II Plus and TI-30XS keystroke alternatives — including for the topics where one calculator is meaningfully faster.
04
Pacing built around CBT scheduling
You choose your sitting date; the platform builds your pace plan backward from it.
The SOA path
Choose your level
SOA · P
Exam P
~120 LOS · ~250 hrs
Probability. Calculus-based univariate and joint distributions, conditional probability, and risk measures.
SOA · FM
Exam FM
~110 LOS · ~200 hrs
Financial mathematics. Time value of money, annuities, bonds, immunisation, and derivative basics.
Curriculum weights
What the SOA exam actually tests
Topic-area weights for every level — sourced from the awarding body, not from vendor estimates. We map every reading and question to these proportions so your study time mirrors the exam, not a textbook table of contents.
Exam P curriculum
~120 LOS · ~250 hrs
- Univariate Random Variables43%
- Multivariate Random Variables45%
- General Probability12%
Source: SOA · Exam P Syllabus Topic Weights (midpoint)
Exam FM curriculum
~110 LOS · ~200 hrs
- Topics in Interest Theory20%
- Annuities & Cash Flows17%
- Loans15%
- Bonds15%
- Time Value of Money12%
- Immunisation8.0%
- General Cash Flows & Portfolios7.0%
- Determinants of Interest Rates3.0%
- Interest Rate Swaps3.0%
Source: SOA · Exam FM Syllabus Topic Weights (midpoint)
Who should pursue the SOA?
The roles and backgrounds most commonly represented in our SOA candidate cohort.
- University students in actuarial science, statistics, or mathematics programs
- Career changers entering the actuarial profession from quantitative backgrounds
- Finance professionals adding formal probability credentials
- CAS candidates needing SOA-equivalent preliminary credit
- Data scientists pivoting toward insurance, pension, or reinsurance work
What the SOA unlocks
Roles and outcomes typically associated with holding or progressing toward the SOA.
- Actuarial Analyst (life, health, P&C, pension)
- Pricing Actuary
- Reserving Actuary
- Reinsurance Analyst
- Pension Actuary
- Catastrophe Modeller / Risk Analyst
Exam format
SOA exam at a glance
- Awarding body
- Society of Actuaries (SOA)
- Exams covered
- Exam P (Probability), Exam FM (Financial Mathematics)
- Question format
- 30 MCQ · 3 hours · CBT
- Sittings / year
- 5–6 windows per exam
- Total study time
- ~200–300 hours per exam
- Pass rate (recent)
- Exam P ≈ 40–50% · Exam FM ≈ 45–55%
- Exam fee
- USD 250 per exam (early registration)
Every LOS, every reading
LOS-mapped study notes for every SOA reading with a candidate-reported difficulty band.
Real explanations
Question bank that tells you why the wrong answers are wrong, not just which one is right.
Pacing that respects time
Days-to-exam counter, weekly pace targets, and a Ready-to-Sit indicator backed by published MPS bands.
FAQ
About the SOA program
Pricing
Simple plans for SOA
Same source-cited content in every tier — pick how far you want the tools to take you. Try one full topic free per level before you commit.
Ready to start your SOA prep?
Free to start. One full topic free per level — enough to judge whether our materials fit how you study.
Start Studying