Introduction
What is Exam P
Exam P - Probability is one of the preliminary exams administered by the Society of Actuaries (SOA). Along with Exam FM - Financial Mathematics, it is one of the first exam students take on the path to becoming a credentialed actuary. The exam also fulfills Exam 1 credit for students credentialing with the Casualty Actuary Society (CAS).
Exam P tests the candidate's understanding of mathematical concepts related to General Probability, Univariate Random Variables, and Multivariate Random Variables. These concepts are also fundamental to concepts tested in subsequent preliminary exams, so it is important to build a strong foundation in the concepts on Exam P before progressing further in the exam process.
When Can I Expect Results
For CBT exams, a preliminary pass/fail will be displayed on the screen at the conclusion of the exam. For Exam P, students will also receive a pass/fail document via e-mail. Some students have reported not receiving an immediate pass/fail on screen, but receiving a text or e-mail immediately after the exam. In either case, you should have access to your preliminary results shortly after completion of your exam. Although these results are preliminary, it is reasonable to assume that the preliminary pass/fail will match the final pass/fail.
Approximately 8 weeks after your exam sitting, passing candidate names and numbers will be posted on the SOA website. At that point, you will be able to access your 0 to 10 grade.
Additional Information
Additional information can be found in the syllabus and FAQs.
Exam History
Starting with the September 2022 sitting, the syllabus was reduced to remove more advanced math topics, such as double integration and random variable transformations. Based on the historic pass rates, this change did not significantly impact the pass rate, implying that the exam was not made easier by the syllabus reduction.
Exam P is not eligible for University-Earned Credit (UEC). All aspiring actuaries must take the exam.