Spring 2009 Exam FM

Welcome to the Exam FM home page! Please review all of the information and links provided below.

Exam FM is a three–hour multiple–choice examination and is identical to Casualty Actuarial Society (CAS) Exam 2.

Exam FM is offered via computer-based testing (CBT).

The syllabus for Exam FM develops the candidate's understanding of the fundamental concepts of financial mathematics, and how those concepts are applied in calculating present and accumulated values for various streams of cash flows as a basis for future use in: reserving, valuation, pricing, asset/liability management, investment income, capital budgeting and valuing contingent cash flows. The candidate will also be given an introduction to financial instruments, including derivatives, and the concept of no–arbitrage as it relates to financial mathematics. A basic knowledge of calculus and an introductory knowledge of probability is assumed.

Exam FM is required for ASA, CERA and FSA designations.

Syllabus with Learning Objectives/ Outcomes and Readings Updates Past Exam Questions and Solutions Rules and Regulations Rules and Regulations–CBT Registration Information Online Registration–CBT Online Registration–Paper/Pencil (select sites) Application Form List of Examination Centers Examination Center Locations–Paper/Pencil August Examination Center Locations– Paper/Pencil (Coming Soon) Computer–Based Testing (CBT) Information Refunds Information on Special Centers

Dates and Deadlines Fees Admission to Examination Center Acknowledgement Letter Approved Calculators Food and Beverage in Examination Room Signature on Exam Answer Sheets and Envelopes Bilingual Examinations in Canada Arrangements for Candidates with Disabilities Frequently Asked Questions Purpose of Learning Objectives/Outcomes Study Methods Suggestions for Taking Multiple–Choice Examinations Review Seminars and Workshops Distributors of Textbooks and Study Materials