Exam IFM
Exam IFM
Everything You Need to Pass
Coaching Actuaries gives you the tools to study smarter and pass the Investment and Financial Markets Exam.
Your Coaches
Here to Help
Meet our team of expert coaches who will guide you through
Exam IFM.
Mike Carmody, FSA, MAAA, CFA
Exam IFM Video CoachAttained FSA via the QFI TrackI've been teaching actuaries how to pass exams for 20 years, and I've been close friends with Dave Kester for even longer. During my actuarial career, I've worked on everything from indexed annuity designs to investments to unique projects like life insurance policies for oil wells. I also run a company that makes specialized mobile tornado shelters. Much like Dave, I also just like to run. Finance is a huge passion of mine, and I like to bring that out in my video lessons for IFM, VEE, and the CFA exams.
Content Team
Tong Khon Teh, FSA, CFA
Exam IFM Product ManagerAttained FSA via the QFI TrackI have taught different undergraduate actuarial science courses and exam prep courses at Drake University since 2010. I received my FSA in 2016 and am currently the Product Manager for Coaching Actuaries overseeing FM, IFM, LTAM, and CFA courses. I love helping students understand challenging concepts and raise their odds in passing the exams! In my free time, I enjoy cross-training and hanging out with colleagues and friends over wine and beer.
Exam IFM Overview
What To Expect
Exam Details
30 Computer-based, multiple-choice questions
Registration Deadline
February 11, 2020 (Midnight CST)
Exam Duration
3 Hours
Next Available Sitting
March 13-19, 2020
Before the Exam
Exam IFM Offerings
IFM is offered three times per year, in March, July, and November.
How Do I Register?
- Register online at www.soa.org before the registration deadline.
- Wait 3-5 business days to receive an email confirmation letter.
- Schedule a seat at a Prometric Center.
Learn more about how to register for official SOA exams on their website.
Highest-Weighted Concepts
Questions related to these concepts will appear the most on the exam.
- Option Pricing (Binomial, Black-Scholes)
- Lognormal Model for Stock Prices
- Mean-Variance Portfolio Theory
Tip from Coach Fred
"Make sure you have a deep understanding of the exam concepts. This new exam has a blend of quantitative and qualitative questions. Put your focus on the material related to the learning objectives stated in the exam syllabus."
Tip from Coach Mike, FSA
"There are many formulas on this exam, but you don't need to memorize all of them. Several of the formulas are related. If you focus on the conceptual relationship between formulas, you'll be able to quickly derive the specific one you need on the exam. That will drastically reduce the number of formulas you need to memorize for the exam."
Day of Exam
What to Bring:
- A government-issued photo ID that includes a signature
- Recommended Calculator: TI-30XS MultiView AND BA II Plus - You will want both!
(See Other Options)
Tip #1 from Coach Tong, FSA
"The goal in the exam is to get enough questions correct to pass. Keep in mind that all questions in the multiple choice exams count the same. Solving a very easy problem correctly gets you the same number of points as solving a very difficult problem correctly. Thus, you must be willing to skip a problem."
Tip #2 from Coach Tong, FSA
"If you read a problem and don't understand it during the first read, skip it. If you read a problem and think that you may be able to solve the problem if you took some time on it, mark it and skip it. Apply this strategy to all the questions during the first round through. After that, come back to the questions that you've marked and attempt those questions in your second round through."
After the Exam
Getting Your Exam Results
After you complete your exam, you will receive a preliminary Pass-Fail result. This is not your official final result.
After approximately 8 to 11 weeks, the SOA will release the list of passing candidates' ID numbers. A few days after this list has been published, you will be able to see your final score in your official SOA transcript when you log into the SOA website.
Next Steps
SOA Track
Exams STAMand LTAMare typically the next exams taken once you've passed IFM.CAS Track
Exam MAS-Iis the next exam on your path to the ACAS designation.