Question 1
Among the policyholders of an insurance company, 64% have an auto policy, 42% have a homeowners policy and 27% have both. One policyholder is chosen at random.
Calculate the probability that the policyholder has neither.
Actuarial exam cost and test day: Exam P and Exam FM
Each exam costs $275 in 2026, so the first two actuarial exams cost $550 at a first attempt. Candidates in many countries pay less through SOA's Global Access pricing.
Fee per sitting, 2026
| Where you live and test | Exam P or FM | Both, first try |
|---|---|---|
| Standard feeU.S., Canada and other high-income countries | $275 | $550 |
| Global Access Tier 2Upper-middle-income countries, such as Brazil, Malaysia and Mexico | $220 | $440 |
| Global Access Tier 3Lower-middle and low-income countries, such as India, Pakistan, Egypt and Vietnam | $165 | $330 |
Your total
Exam fees
$550
2 sittings at $275
Moving your appointment
| 31 or more days before the appointment | No fee |
|---|---|
| 5 to 30 days before the appointment | $70, paid to Prometric |
| Less than 5 days before, a no-show, or arriving more than 30 minutes late | The exam fee is forfeited |
Test day, step by step
- Arrive 30 minutes earlyArrive at least 30 minutes before your appointment. Later than that, you may not be allowed to test and the fee is lost.
- Bring a paper government IDA non-expired government-issued ID with your name in the Latin alphabet, a photo and a signature. Testing outside your country of citizenship needs a passport. Digital IDs and photocopies are not accepted.
- Bring an approved calculatorOnly six Texas Instruments models are allowed, and you may bring more than one. Show the supervisor that the memory is cleared. Covers and instructions stay outside.
- Water only, in a clear bottleOne clear container of water with the labels removed. No food in the test room.
- Everything else goes in a lockerPhones and all other electronics, bags and jewelry other than a wedding band and small earrings. You cannot bring pencils or scratch paper.
- The center gives you paperTwo pencils and a 26-page scratch booklet. Ask for a new booklet when it is full; you hand the old one back.
- Tutorial, exam, surveyA 12-minute tutorial before the exam and a 15-minute survey after it. The exam clock does not stop for restroom breaks. A warning appears 15 minutes before the end.
- Pass or fail the same dayFor Exams P and FM, an unofficial pass or fail appears on screen after the survey and is emailed by Prometric, usually within the hour.
Exam P runs 3 hours and Exam FM 2.5 hours, each at a Prometric test center. SOA lists the centers on each exam's page.
| Exam P | $275 |
|---|---|
| Exam FM | $275 |
| With Global Access | $220 or $165 an exam |
| Student rate | None for Exam P or Exam FM |
What the fee covers
One sitting, with electronic access to the required study notes. Each sitting is paid for separately, and a missed appointment means paying the fee again.
Ways to pay less
- Global Access pricing: 20% off in upper-middle-income countries and 40% off in lower-middle and low-income countries, set by where you live and test.
- SOA lists reduced fees, fee reimbursement and scholarships for eligible candidates.
- Move an appointment 31 or more days ahead and it costs nothing.
Try 2 questions
Question 2
The number of claims in a week has a Poisson distribution with mean 1.5.
Calculate the probability of more than 2 claims in a week.
Next step
Questions people ask
How much does Exam P cost?
$275 in 2026, the same as Exam FM. With Global Access pricing it is $220 or $165, depending on where you live and test.
What do I bring to Exam P or Exam FM?
A paper government-issued ID with your photo and signature, and an approved Texas Instruments calculator. Water in a clear bottle is allowed; everything else goes in a locker.
Can I reschedule an actuarial exam?
Yes, within the same testing window. It is free 31 or more days ahead and $70 from 5 to 30 days ahead; inside 5 days the fee is forfeited.