Coaching Actuaries

2022 SOA Changes

Below you'll find a quick message from Coach K as well as our recommendations followed by a detailed description of the expected changes for each exam or requirement. You can read the SOA's official ASA curriculum changes fact sheet, and get further clarification on their FAQ page.

Coach Dave's Message on the SOA Changes

Your Way Forward

CA Recommendations

The SOA hasn’t announced when the new P and FM will be offered, but we recommend going ahead and taking FM if you’ve passed P (or P if you’ve passed FM) when you’re ready, even if it’s before the new P/FM is available.

We highly recommend passing IFM by Nov 2022 to avoid having to take ATPA. Note that the four remaining sittings for IFM are Nov 2021, Mar 2022, July 2022, and Nov 2022. Alternatively, you could choose to take ATPA starting in Jun 2022 in lieu of IFM.

You could avoid the written-answer portion of LTAM by passing STAM by Jun 2022 and passing FAM-L between Oct 2022 and Jun 2024. This will give you credit for the full FAM and ASTAM under the new system.

You’re free to take SRM since that exam is not changing.

You could avoid the written-answer portion of LTAM by passing STAM by Jun 2022 and passing FAM-L between Oct 2022 and Jun 2024. This will give you credit for the full FAM and ASTAM under the new system.

You’re free to take SRM since that exam is not changing.

You won’t need to take ATPA.

We highly recommend passing IFM by Nov 2022 to avoid having to take ATPA. Note that the four remaining sittings for IFM are Nov 2021, Mar 2022, July 2022, and Nov 2022. Alternatively, you could choose to take ATPA starting in Jun 2022 in lieu of IFM.

You could avoid the written-answer portion of LTAM by passing STAM by Jun 2022 and passing FAM-L between Oct 2022 and Jun 2024. This will give you credit for the full FAM and ASTAM under the new system

You’ll no longer need to take LTAM. If you’re currently studying for LTAM, you may want to pivot to a different exam or take it anyway, knowing that if you don’t pass, you can wait until Oct 2022 to take the presumably easier FAM-L. Be sure to either pass LTAM before the last sitting (Spring 2022) or FAM-L between Oct 2022 and Jun 2024. This will give you credit for the full FAM and ASTAM under the new system. Otherwise, you’ll need to take the full FAM (after Jun 2024).

You’re free to take SRM since that exam is not changing.

You won’t need to take ATPA.

You’ll no longer need to take STAM. If you’re currently studying for STAM, you may want to pivot to a different exam or take it anyway, knowing that if you don’t pass, you can wait until Oct 2022 to take the presumably easier FAM-S. Be sure to either pass STAM before the last sitting (Jun 2022) or FAM-S between Oct 2022 and Jun 2024. This will give you credit for the full FAM and ALTAM under the new system. Otherwise, you’ll need to take the full FAM (after Jun 2024).

You’re free to take SRM since that exam is not changing.

You won’t need to take ATPA.

The exam changes don’t affect you much. Stick to your current plan. You’ll get credit for P, FM, ATPA, FAM, and ALTAM / ASTAM. You’ll still need to take SRM and PA.

The CAS has announced that there will be no changes to waivers for Exam 1, 2, and 3F before late 2022. If you haven't passed IFM, we recommend doing so by Nov 2022 to get credit for 3F. The CAS hasn’t announced if there will be a replacement exam when IFM goes away.

Exam Changes

P

Administration: 6 times a year (odd months)
Format: Multiple-choice, 3 hours, CBT

Material that is outdated and not needed for later exams will be removed.

E-Learning Module Changes

New module. Available Jan 2022.

New module. Available Jan 2022.

Modules #1, #2, and #4 will be removed starting Jan 1, 2025, leaving behind 5 modules. The Final Assessment will remain.

Transition Rules

Exam and Modules

Exams

  • P, FM, SRM, and PA will provide credit for the same exams under the new curriculum.
  • IFM will effectively provide credit for ATPA. The SOA has indicated that the ASA designation can be earned by having credit for either IFM or ATPA.
  • LTAM will provide credit for FAM-L and ALTAM.
    Candidates must pass FAM-S by Jun 2024 or will need to take the full FAM to complete the FAM requirement
  • STAM will provide credit for FAM-S and ASTAM.
    Candidates must pass FAM-L by Jun 2024 or will need to take the full FAM to complete the FAM requirement


Modules

  • Through Dec 31, 2024, the Pre-Actuarial Foundations module will provide credit for FAP Module #1 and #2.
  • Through Dec 31, 2024, the Actuarial Science Foundations module will provide credit for FAP Module #4.

Micro-Credentials

3 subsets of the ASA Designation

The SOA will be introducing 3 micro-credentials that are subsets of the ASA designation.

Candidates can earn the Pre-Actuarial Foundations and Actuarial Science Foundations micro-credentials starting Jan 2022, when the respective modules are released. Even though Exam FAM will not be offered until Oct 2022, candidates can fulfill the Exam FAM requirement prior to Oct 2022 by passing Exam LTAM and Exam STAM.

Pre-Actuarial Foundations

Exam P
Exam FM
VEE Economics
VEE Accounting/Finance
Pre-Actuarial Foundations module

Actuarial Science Foundations

Pre-Actuarial Foundations micro-credential
Exam FAM
Exam SRM
VEE Mathematical Statistics
Actuarial Science Foundations module

Data Science for Actuaries

Exam SRM
Exam PA
Exam ATPA