![]() Therefore, candidates should answer every question to maximize their scores. The score for the examination is determined solely on the basis of correct answers. All other questions will be considered in the scoring. There are 3 board topics: (1) General probabilities, (2) Univariate random variables, and (3) Multivariate random variables. Knowledge of calculus and basic knowledge of insurance and risk management is assumed. These pilot questions are included to judge their effectiveness for future exams, but they will NOT be used in the scoring of this exam. Exam P is focused on mastering probability concepts used in assessing financial risk. As part of the computer–based testing process, a few pilot questions will be randomly placed in the exam (paper –and–pencil and computer–based forms). The exam will consist of 30 multiple-choice questions. For more information, you can go to and scroll to the bottom of the page under the heading The Exam. Maybe you took the exam back then? But, for those of us who are planning to take it, it is 30 questions in 3 hours now. To quote the same professor above: "the score that you want to have on an exam is a six - this means that you spent exactly as much time as required to pass the exam, with no wasted hours."Įxam P is no longer 40 questions because they do not have questions that test on solely calculus. (Must be a hard exam.) The scale goes like this:īut the right answer is "no one knows how these numbers are determined". After careful consideration, it is decided that 22 right answers will earn you a "6". The November 2005 FM was then made a bit harder, and only 30 percent got a "6" or above in November of 2005.Īccording to one of my professors who sat on the test-making committee of SOA, it went like this: Rumor had it that the May 2005 FM exam was an easy one, with seventy percent of the takes getting at least a "6". The test committee wants the value of "6" to represent a sufficient amount of rigor, but how many questions right that represents changes from test to test.įrom what I've heard - and you can take this with a grain of salt - some exams are easy and an exam on the same subject six months later can be much harder. I've heard that that value is determined is after all of the exams come in, but I don't believe it. My big question is *when* the value needed to get a 6 is determined. ![]() Getting a 6 doesn't mean that you got sixty percent of the questions right.
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