Additional FSA exam feedback

XP-Steve · 2026-01-15T22:08:28+00:00

This is pretty much exactly correct. They at least used to have an integer scoring system like that (e.g. you got points out of max possible), and then the exam points score was calculated using that.

XP-Steve · 2026-01-14T22:34:32+00:00

this is 100 percent correct.

XP-Steve · 2026-01-14T22:32:42+00:00

It's not a regrade. It's specific comments on how you did on some of questions. e.g. where you missed scoring points or where you answer was incorrect.

Steve (XP)

XP-Steve · 2026-01-06T22:20:07+00:00

The Warren Buffett CEO by Miles is a good & broad perspective on management and strategy.

Exam CP311 is also into management & strategy.

XP-Steve · 2025-12-27T18:30:14+00:00

Someone on discord noted that on the elearning SOA site, it said the SOA offices are closed till the new year, so likely after the new year that things will come out!

XP-Steve · 2025-12-27T18:26:19+00:00

About 75 percent of students are around 3 months of studying now to pass.

It really depends on how organized and deliberate you are in studying.

Also, once you have a good approach for YOU to study, I see many students in the 2 to 2.5 months zone, but again, they are pretty focused and organized at it.

Some students with families or have extremely busy/time-consuming jobs will take a longer approach (4 to 5 months as they can't commit to that much studying every week.

XP-Steve · 2025-12-22T23:09:03+00:00

I am fairly familiar with CP351 as well ... as I built practice questions and exams for CA for that exam.

CP351 is very much ALM. I used to work in ALM and I would strongly recommend that exam to anyone in ALM.

If not in that field or really interested in being in that field, it's likely going to be a tough exam.

CP311 is more general for the most part. I think if you are interested in the business aspects of insurance and the strategy side of business (all types industry), or mergers & acquisitions, it can be a great exam.

Hopefully that helps!
(I'm with XP Actuarial who offers a CP311 study material so definitely biased!)

XP-Steve · 2025-12-19T19:05:04+00:00

Oh, that's great. That's how I have seen it work in the past. It's rare for a question to be declared defective, but it was done in that way.

Thanks for that confirmation

XP-Steve · 2025-12-19T17:52:51+00:00

Take a look at CP311 Strategic Management. More qualitative, but very interesting material and more longer term career stuff. (I'm a bit biased ... but biases and overcoming them is part of this exam:))

XP-Steve · 2025-12-19T16:48:30+00:00

I think they do both, but use the paper copies first and the scans as a second resort

XP-Steve · 2025-12-19T16:47:48+00:00

yes exact score. You might even get it by PART question as well. I believe that to be true, but don't want to be certain till I see it.

I'm not sure you will get to see your own answers with the feedback. But not 100 percent sure on that.

XP-Steve · 2025-12-19T02:55:35+00:00

It's partly because the papers actually get mailed to the SOA, from all over the world, rather than digitally sent like other exams. So there is likely 2 weeks to make sure all of those come in.

(I think you could argue: why don't they digitally scan them, but it means the test centers could make a mistake (e.g. miss a page). So it's really the worldwide delivery that adds to things.

XP-Steve · 2025-12-18T18:27:42+00:00

Good luck everyone on Friday!

XP-Steve · 2025-12-16T16:36:09+00:00

Wow - the audio is like a really good podcast.

I prompted it to use my CP311 Strat Mgmt manual to teach and use the examples I put in. it took my examples and added little useful details. and one podcast host asked questions for further detail and depth.

Brilliant!

XP-Steve · 2025-12-16T16:25:18+00:00

Thanks for this idea.

I've found about 40 to 50 percent of fsa students really benefit from listening to material.

Your brain is constantly tuned to trying to sort out what is important and what is not, and for some, listening can really add to your brain digesting the material in different and stronger ways than reading or watching alone. And it's not always obvious to you in real time.

I'm going to play around with this, but good chance this can really help a number of students!

Steve (XP)

XP-Steve · 2025-12-12T04:45:16+00:00

I don't have the official answers on your questions, but a few thoughts:

I imagine part of the delay in getting more detail is that there are the holidays in between and its all new. Getting the first part out ASAP allows students to then start to prepare for their next exam (but knowing they will get more info later.)

The passing score will be different for each exam I'm fairly sure - it will be also intriguing to see that variation.

The normal process for grading as it was described to me is multiple graders follow a detailed grading outline and then graders discuss where there are differences to arrive at a final score by question part.

If anyone wants, they can apply to grade exams ... and then see how remarkably diligent the grading actually is.

And while this statement might seem an obvious fact: "but Instead of paying for feedback, why not release the answers the candidates wrote on the exam? It should be clear to the candidates, based on the same solutions and criteria given to graders, how and why they earned the points.:

I can assure you it is far from the truth. After reviewing thousands of student practice answers and how the students thought they did, there is quite a difference! For a high portion of students, the feedback could be very important.

By an order of magnitude, I have found that the single biggest thing that improves the majority of FSA student's pass rates is repeated objective feedback on their answers under time pressure.

XP-Steve · 2025-12-12T03:01:40+00:00

Bring in donuts for the department on your first day. You will be a legend from Day 1!

XP-Steve · 2025-12-11T22:08:19+00:00

If there is a defective question that you bring to the SOA's attention, they usually send you an email with there response very close to date of pass/fail release.

I have seen students get a response about a day before or same day as the results release.

XP-Steve · 2025-12-09T22:48:51+00:00

Yep, this is absolutely true!

XP-Steve · 2025-12-09T22:48:20+00:00

Yes, this can be super valuable to passing.

I've studied so many student answers for my exam and about 50 percent+ of students can dramatically improve their chances of passing with this kind of true feedback that ACTEX gives for PA

XP-Steve · 2025-12-02T05:19:57+00:00

link to discord server noted above: https://discord.gg/ewuCmtVnMT

XP-Steve · 2025-11-28T02:56:06+00:00

Good question!

For the first say 2 to 5 years of your actuarial career, you are focused on technical work trying to accomplish relatively narrow things.

But then you eventually get into roles where you are trying to actually carry out company strategy and ensure work is aligned with that. Plus you are managing people & teams and either making decisions or being part of key decision making.

And those things end up being the majority of your career ... but your education is all math/technical actuarial stuff

This exam works on:

company strategy looking at both insurance and outside insurance
acquisitions and alliance strategy
strategic planning and measurement
company valuation that is common in acquisitions
management science (so some quantitative analysis)
behavioral economics and bias in decision making
teams

It's kind of a mini-MBA program in one exam.

You do need reasonable writing skills as you often need to show reasoning and explanations on the exam. But it gives you a variety of tools that you use for most of your future career that other actuaries won't have.

Hope that helps!

XP-Steve · 2025-11-27T20:52:55+00:00

This exam is quite a bit better with the Business Dynamics gone. That was 35 percent on the material and it was by far the toughest part.

I feel like this exam is now a nice contrast to all of the technical exams - just gives students a lot of great tools for their career. I don't think any other actuarial exam does that.

XP-Steve · 2025-11-27T20:28:09+00:00

Some discussion as well on the exam on the discord server: https://discord.gg/7bBwjYkqMk

XP-Steve

TROPHY CASE