# SOA Exam FAM Study Plan & Practice System SOA Exam FAM study plan: life contingencies, loss models, credibility, and option pricing. ~300-hour prep with adaptive flashcards and weekly schedule. Canonical URL: https://exclam.ai/actuarial/exam-fam/ [Actuarial](https://exclam.ai/actuarial/index.md)›Exam FAM SOA Exam FAM · Fundamentals of Actuarial Mathematics Updated August 2026 Exam FAM is the fundamentals exam covering both long-term (life/annuity) and short-term (P&C/health) actuarial mathematics. Introduced in 2023 to replace LTAM and STAM, it takes roughly 300 hours of prep. Upload your ACTEX digital edition, scanned ASM manual, TIA PDF handouts, or your own notes and exclam.ai turns them into a fully guided study plan with adaptive flashcards, quizzes, and a weekly schedule tuned to the breadth of the material. Typical hours ~300 Typical weeks ~18 Topic areas 7 Pass rate ~40–50% [Build your study plan](https://exclam.ai/actuarial/exam-fam/index.md#plans) [Exam FAM in 30 days? Retaker or behind on ADAPT EL — use the cram + retaker plan. See cram options](https://exclam.ai/actuarial/exam-fam/cram/index.md) [FAM moved to 34 MCQs (Feb 2026). What that means for pacing + retaker math. See 2026 changes](https://exclam.ai/actuarial/exam-fam/changes-2026/index.md) ## Exam format Computer-based test with multiple-choice questions. Tests both life contingencies and short-term insurance topics in a single sitting. Check soa.org for current length and format. The broadest preliminary exam — covers both life/annuity and short-term/P&C content in one sitting. Introduced in 2023 to replace the old LTAM and STAM exams. Most candidates report it is the hardest preliminary exam due to sheer volume. Most candidates prep in 16–24 weeks at 15–20 hours per week. Format details change periodically. Always verify the current exam structure on [soa.org](https://www.soa.org/) before your exam. ## Exam FAM topic areas The 7 topic areas tested on Exam FAM, with approximate weight bands from the public SOA syllabus. Click any topic for a dedicated study page. [Insurance Coverages and Retirement Products 5–10% Structure and features of common insurance and retirement products including life insurance, annuities, health, and short-term insurance. Study this topic](https://exclam.ai/actuarial/exam-fam/topics/insurance-coverages-and-retirement-products/index.md) [Severity, Frequency, and Aggregate Models 15–20% Statistical models for individual loss severity, claim frequency, and aggregate loss distributions including compound distributions. Study this topic](https://exclam.ai/actuarial/exam-fam/topics/severity-frequency-aggregate-models/index.md) [Parametric Estimation 10–15% Maximum likelihood and method of moments estimation for parametric models, including goodness of fit testing. Study this topic](https://exclam.ai/actuarial/exam-fam/topics/parametric-estimation/index.md) [Mortality and Survival Models 10–15% Life table construction, force of mortality, select and ultimate mortality, and multiple-decrement models. Study this topic](https://exclam.ai/actuarial/exam-fam/topics/mortality-models/index.md) [Life Insurance Pricing and Reserving 15–20% Pricing and reserving for life insurance and life annuity products using the equivalence principle and benefit reserves. Study this topic](https://exclam.ai/actuarial/exam-fam/topics/life-insurance-pricing-and-reserving/index.md) [Short-Term Insurance Pricing and Reserving 15–20% Pricing, loss reserving, and credibility for short-term insurance products including property, casualty, and health. Study this topic](https://exclam.ai/actuarial/exam-fam/topics/short-term-pricing-and-reserving/index.md) [Option Pricing Fundamentals 5–10% Introduction to option pricing including put-call parity, binomial models, and Black-Scholes pricing for European options. Study this topic](https://exclam.ai/actuarial/exam-fam/topics/option-pricing-fundamentals/index.md) Topic names and approximate weight bands sourced from the public SOA Exam FAM syllabus on soa.org. ## How exclam.ai helps with Exam FAM ### Upload your study manual Drop in your ACTEX Exam FAM digital edition (full-corpus PDF), scanned ASM pages, TIA handouts, or your own notes. exclam.ai parses them into structured content for a fully guided study plan. ### Generate flashcards & quizzes AI generates flashcards for formulas and concepts, plus multiple-choice quizzes targeting each of the 7 topic areas. Edit any card. ### Get a weekly adaptive plan Coverage phase, review phase, and mocks — distributed across your ~18-week timeline or whatever you choose. ## Exam FAM study plan Pick the timeline that matches your exam date. exclam.ai spreads roughly 300 hours across coverage, review, and mock phases — each reading paired with its own quiz and FSRS flashcards. Switch the plan length to rebalance the schedule instantly. Plan length 6 weeks10 weeks14 weeks18 weeks24 weeks 14 weeks · ~21h/week ### Approximate milestones 14 weeks CoverageMonths 1–2 1. Insurance Coverages and Retirement Products~wk 1 2. Severity, Frequency, and Aggregate Models~wk 3 3. Parametric Estimation~wk 4 4. Mortality and Survival Models~wk 5 5. Life Insurance Pricing and Reserving~wk 6 6. Short-Term Insurance Pricing and Reserving~wk 7 7. Option Pricing Fundamentals~wk 8 ReviewMonths 2–3 Mock examsMonth 3 Examend of Month 3 #### Your full plan · 14 weeks to exam day 14 weeks · ~21h/week CoverageReviewMocks· chips show the task mix for that week; buffer days are the planned rest ##### September 2026 1. Wk 1Sep 28 – Oct 4Insurance Coverages and Retirement ProductsCoverageReadQuizFlashcards5–10%6 study · 1 buffer ##### October 2026 1. Wk 2Oct 5 – Oct 11Severity, Frequency, and Aggregate ModelsCoverageReadQuizFlashcards15–20%6 study · 1 buffer 2. Wk 3Oct 12 – Oct 18Severity, Frequency, and Aggregate ModelsCoverageReadQuizFlashcards15–20%6 study · 1 buffer 3. Wk 4Oct 19 – Oct 25Parametric EstimationCoverageReadQuizFlashcards10–15%6 study · 1 buffer 4. Wk 5Oct 26 – Nov 1Mortality and Survival ModelsCoverageReadQuizFlashcards10–15%6 study · 1 buffer ##### November 2026 1. Wk 6Nov 2 – Nov 8Life Insurance Pricing and ReservingCoverageReadQuizFlashcards15–20%6 study · 1 buffer 2. Wk 7Nov 9 – Nov 15Short-Term Insurance Pricing and ReservingCoverageReadQuizFlashcards15–20%6 study · 1 buffer 3. Wk 8Nov 16 – Nov 22Option Pricing FundamentalsCoverageReadQuizFlashcards5–10%6 study · 1 buffer 4. Wk 9Nov 23 – Nov 29ReviewReviewQuizFlashcards6 study · 1 buffer 5. Wk 10Nov 30 – Dec 6ReviewReviewQuizFlashcards6 study · 1 buffer ##### December 2026 1. Wk 11Dec 7 – Dec 13ReviewReviewQuizFlashcards6 study · 1 buffer 2. Wk 12Dec 14 – Dec 20MocksMocksQuizFlashcards6 study · 1 buffer 3. Wk 13Dec 21 – Dec 27MocksMocksQuizFlashcards6 study · 1 buffer 4. Wk 14Dec 28 – Jan 3MocksMocksQuizFlashcards6 study · 1 buffer Exam daySun, Jan 3, 2027End of week 14 ### Your Exam FAM plan A visual preview of how exclam.ai turns your plan into daily reading, flashcard, quiz, review, and mock streaks across the timeline you pick. Active days 24 Best day 11EP Total study time 21h Avg / study day 53 min LessMore Study activityReview / at riskExam day Sample activity — your own streaks, study time, and module milestones appear here once you upload. Sign in to unlock your full 14 weeks plan Every module dated to your exam, with quizzes and FSRS flashcards generated from your own materials. [Unlock my full plan free](https://exclam.ai/pricing/index.md) ### Week-by-week module breakdown Your Exam FAM plan walks the syllabus module-by-module before transitioning into review and mock phases. Module weeks are allocated proportional to SOA topic weights — heavier-weighted modules get more time, lighter ones either get a single week or pair with adjacent topics on intensive paces. Change the plan length above to see the schedule rebalance. Module 1 of 7 Week 1 Exam weight 5–10% [Insurance Coverages and Retirement Products](https://exclam.ai/actuarial/exam-fam/topics/insurance-coverages-and-retirement-products/index.md) Structure and features of common insurance and retirement products including life insurance, annuities, health, and short-term insurance. Build flashcards covering every learning objective and quiz yourself before moving to the next module. Module 2 of 7 Weeks 2–3 Exam weight 15–20% [Severity, Frequency, and Aggregate Models](https://exclam.ai/actuarial/exam-fam/topics/severity-frequency-aggregate-models/index.md) Statistical models for individual loss severity, claim frequency, and aggregate loss distributions including compound distributions. Build flashcards covering every learning objective and quiz yourself before moving to the next module. Module 3 of 7 Week 4 Exam weight 10–15% [Parametric Estimation](https://exclam.ai/actuarial/exam-fam/topics/parametric-estimation/index.md) Maximum likelihood and method of moments estimation for parametric models, including goodness of fit testing. Build flashcards covering every learning objective and quiz yourself before moving to the next module. Module 4 of 7 Week 5 Exam weight 10–15% [Mortality and Survival Models](https://exclam.ai/actuarial/exam-fam/topics/mortality-models/index.md) Life table construction, force of mortality, select and ultimate mortality, and multiple-decrement models. Build flashcards covering every learning objective and quiz yourself before moving to the next module. Module 5 of 7 Week 6 Exam weight 15–20% [Life Insurance Pricing and Reserving](https://exclam.ai/actuarial/exam-fam/topics/life-insurance-pricing-and-reserving/index.md) Pricing and reserving for life insurance and life annuity products using the equivalence principle and benefit reserves. Build flashcards covering every learning objective and quiz yourself before moving to the next module. Module 6 of 7 Week 7 Exam weight 15–20% [Short-Term Insurance Pricing and Reserving](https://exclam.ai/actuarial/exam-fam/topics/short-term-pricing-and-reserving/index.md) Pricing, loss reserving, and credibility for short-term insurance products including property, casualty, and health. Build flashcards covering every learning objective and quiz yourself before moving to the next module. Module 7 of 7 Week 8 Exam weight 5–10% [Option Pricing Fundamentals](https://exclam.ai/actuarial/exam-fam/topics/option-pricing-fundamentals/index.md) Introduction to option pricing including put-call parity, binomial models, and Black-Scholes pricing for European options. Build flashcards covering every learning objective and quiz yourself before moving to the next module. Phase: Review Weeks 9–11 #### Review Weak-topic drilling. exclam.ai surfaces topics where you underperformed during coverage and re-quizzes them. Daily FSRS flashcard reps across all 7 topics to prevent decay. Start doing timed question batches focused on the heaviest-weight sections. Phase: Mocks Weeks 12–14 #### Mocks Full-length Exam FAM practice exams under timed conditions. Target one mock every 3–5 days. Same-day error review: for every question you miss, re-derive the solution from scratch. Taper in the final 3 days — light flashcards only. ## Popular Exam FAM study manuals exclam.ai works alongside any of these vendors. Upload paths vary, ACTEX sells full digital editions as downloadable PDFs (cleanest upload), ASM print manuals can be scanned for the full corpus, and The Infinite Actuary provides downloadable PDF handouts alongside their videos. For ASM digital (app-locked) and Coaching Actuaries (online platform), upload your own notes taken while studying. We do not distribute or reproduce any vendor content, your manual stays with the publisher. ASM Study Manual Print manual · scan to PDF ACTEX Study Manual Digital edition · downloadable PDF Coaching Actuaries Online platform · upload your notes The Infinite Actuary Video + PDF handouts ## Exam FAM questions How is Exam FAM different from the old LTAM and STAM? FAM consolidates fundamentals from both LTAM (life contingencies) and STAM (short-term insurance) into one exam. The advanced content from those exams moved into ALTAM and ASTAM. Candidates who previously would have taken LTAM and STAM separately now take FAM, then choose either ALTAM or ASTAM. How many hours should I study for FAM? Community consensus is 300+ hours, often more. Most candidates prep over 4 to 6 months at 15 to 25 hours per week. Budget more time if you are new to life contingencies or loss modeling. Which half of FAM is harder? Opinions vary. Candidates from life/annuity backgrounds tend to find short-term content harder and vice versa. The Pricing & Reserving sections (for both life and short-term) are typically cited as the heaviest. Do I need to take FAM before ALTAM or ASTAM? FAM is a prerequisite for both advanced exams. Take FAM first, then choose the advanced exam (ALTAM for life focus, ASTAM for short-term focus) based on your career direction. How does exclam.ai help with FAM? Upload your ACTEX digital edition, scanned ASM manual, TIA handouts, or your own study notes and exclam.ai generates a fully guided study plan: flashcards and quizzes covering both the life and short-term halves. The weekly plan distributes coverage time across the seven topic areas with extra weight on the largest sections. Weak topics get re-surfaced automatically.