Question 1
A credit card charges a nominal annual interest rate of 18.0% convertible monthly.
Calculate the annual effective interest rate.
Exam FM dates and registration deadlines, 2026 and 2027
Exam FM is offered six times a year, in a testing window of about 12 days. Registration closes about four weeks before each window opens.
| Next sitting | December 3 to 14, 2026; register by November 4, 2026 |
|---|---|
| Fee | $275 |
| Format | 30 multiple-choice questions in 2.5 hours, on a computer at a Prometric center |
| Result | Unofficial pass or fail by email within one hour |
Every sitting
| Testing window | Registration deadline |
|---|---|
| December 3 to 14, 2026 | November 4, 2026 |
| February 4 to 15, 2027 | January 5, 2027 |
| April 1 to 12, 2027 | March 2, 2027 |
| June 10 to 21, 2027 | May 11, 2027 |
| August 5 to 16, 2027 | July 6, 2027 |
| October 1 to 12, 2027 | August 31, 2027 |
| December 2 to 13, 2027 | November 2, 2027 |
How to choose a sitting
- Count back from the window, and leave the last weeks for full practice exams.
- Register early in the registration period to get the test center and day you want.
- If you plan to sit Exam P too, its windows fall in the months between Exam FM sittings.
After the exam
You get an unofficial pass or fail by email within an hour. SOA publishes the official results, with the pass mark and pass rate, several weeks later: the June 2026 results were published on August 28, 2026.
Try 2 questions
Question 2
A winner will receive $5,000 at the end of each year for 10 years from a lottery. The annual effective interest rate is 6.0%.
Calculate the present value of the payments.
Next step
Questions people ask
How often is Exam FM offered?
Six times a year: February, April, June, August, October and December. Each sitting is a testing window of about 12 days at Prometric centers.
How much does Exam FM cost?
The 2026 fee is $275, paid to the Society of Actuaries when you register.
When do you get Exam FM results?
An unofficial pass or fail arrives by email within one hour of finishing. Official results follow several weeks after the testing window closes.