Best Free Actuarial Exam Prep 2026: P, FM, FAM, SRM & More

This covers free prep for seven SOA exams: P, FM, FAM, SRM, PA, ALTAM and ASTAM. Find your exam in the table below for free practice, then use the sections below for the SOA's sample questions, free textbooks and video courses.

FreeFellow's free SOA question banks

FreeFellow has 6,100+ free original questions across six of these exams, not counting the SOA's sample questions. Exam PA is a written-response exam, and FreeFellow has graded walkthroughs of its past exams.

Exam	Free practice
Exam P (Probability)	1,188 questions
Exam FM (Financial Mathematics)	1,062 questions
Exam FAM (Fundamentals of Actuarial Mathematics)	1,027 questions
Exam SRM (Statistics for Risk Modeling)	1,028 questions
Exam PA (Predictive Analytics)	Graded past-exam walkthroughs
Exam ALTAM (Advanced Long-Term Actuarial Mathematics)	899 questions
Exam ASTAM (Advanced Short-Term Actuarial Mathematics)	971 questions

Every question has a worked solution. The banks, solutions, written lessons and readiness score are free with an account, with no trial and no card. Fellow, the paid tier, is optional. It adds timed practice exams in each exam's format, analytics by topic, spaced-repetition flashcards, a study plan and focus practice on your weakest learning objectives.

As a student I bought Coaching Actuaries, ACTEX manuals and TIA subscriptions, and found them valuable, especially the video courses. By the time I earned my FSA I'd spent well over $5,000 on prep, which is a big part of why I built FreeFellow.

Other free resources

From the SOA

The SOA posts its multiple-choice sample questions as PDFs for Exam P, Exam FM, Exam SRM and Exam FAM (topics 1 to 6 and 7 to 10). FreeFellow hosts sample sets with worked solutions: Exam P (654 questions), Exam FM (454), Exam FAM (262) and Exam SRM (66).

The SOA's Past Exams and Solutions page says P, FM, FAM and SRM won't be released. It does post written-answer papers with model solutions for recent PA, ALTAM and ASTAM sittings. The SOA past exams guide goes through each one.

Textbooks and study guides

Read your exam's current syllabus before you buy anything. SRM leans heavily on An Introduction to Statistical Learning (ISLR), which its authors give away. For P and FM, there's no free textbook I can point you to right now, so lean on the free courses and courseware below. The main textbooks on the FAM, ALTAM and ASTAM syllabi aren't free. ACTEX has free samples of its paid manuals, which are handy for targeted review but don't cover everything.

Video and courseware

The Infinite Actuary lists its P and FM courses as free with an account (checked September 27, 2026). Coaching Actuaries has published some sample lectures on YouTube. Professor Leonard isn't actuarial-specific, but his calculus and probability lectures are very clear. For university courseware, MIT 18.05 covers probability topics that map directly to Exam P, and MIT 18.S096 covers math with applications in finance (relevant to FM). Neither follows the SOA syllabus, so use the syllabus to pick which lectures you need.

How to combine them

Match your reading to the syllabus for your sitting, whether that's a chapter of ISLR, an SOA study note or a lecture, and start working questions on a topic as soon as you've read it.

Spend most of your time on questions, and read the worked solution even when you got the answer right, since it can show a shorter route. How you split reading and practice depends on how much of the material you've seen before, so adjust it as you go.

In the last few weeks, practice in the format you'll sit, which means timed multiple-choice sets for P, FM, FAM and SRM and full written answers under the clock for PA, ALTAM and ASTAM. The Exam PA walkthroughs and the SOA's released papers help with the written ones. FreeFellow's timed practice exams are part of Fellow.

Frequently Asked Questions

Are free actuarial exam prep resources good enough to pass?

There's free practice for all seven SOA exams covered here, but no resource guarantees a pass. P, FM, FAM, SRM, ALTAM and ASTAM have free question banks with worked solutions, Exam PA has free graded past-exam walkthroughs, and the SOA publishes sample questions for each exam. Check your reading against the current syllabus, and pay only where you find a gap, like video lessons or a full manual.

How many free SOA practice questions does FreeFellow have?

6,100+ original questions across six preliminary exams (P, FM, FAM, SRM, ALTAM and ASTAM), each with a worked solution, plus free graded past-exam walkthroughs for Exam PA. The banks are free with an account, with no trial and no card.

What is the best free question bank for SOA exams?

FreeFellow has 6,100+ original questions at three difficulty levels across P, FM, FAM, SRM, ALTAM and ASTAM, each with a worked solution, and its readiness score is free. Analytics by topic and timed practice exams come with Fellow, the paid tier. Pair any bank with the SOA's own sample questions, which the exam committee writes.

Do I need to pay for Coaching Actuaries or ACTEX?

No. They build good structured courses, but practice questions with worked solutions, the SOA's sample questions and a readiness score are all available free. If you want video lessons or a full manual, you can buy one for the exam where you need it most and keep your practice free.

Which free resources cover Exam P and FM?

Combine FreeFellow's free question banks (over 1,000 questions each) with the SOA's sample questions and The Infinite Actuary's P and FM courses, which it lists as free with an account. MIT OpenCourseWare 18.05 maps well to Exam P probability.

Does the SOA release past exams for Exam P and FM?

No. The SOA's Past Exams and Solutions page says Exams P, FM, FAM and SRM won't be released. It does post papers with model solutions for the written-answer exams (PA, ALTAM and ASTAM) and the fellowship exams. For the four multiple-choice exams, the SOA's sample question sets are the closest thing to a past paper.

Are Marcel Finan's free study guides still good for Exam P and FM?

I've stopped recommending them here. Marcel Finan wrote them at Arkansas Tech University as free texts for P and FM, but I couldn't open a copy on the author's site when I checked in September 2026, and they're updated less often than the exams. I'd use the SOA's sample questions and The Infinite Actuary's free P and FM courses instead. If you already have a copy, check each chapter against the current SOA syllabus.