Free SOA Exam FAM (Fundamentals of Actuarial Mathematics) Practice Questions
The entire SOA Exam FAM question bank is free: 932 practice questions covering severity and frequency models, credibility, mortality, premium calculation, and option pricing. From FreeFellow, where 'free' is in the brand name. No trial, no signup to browse, no credit card.
1027 Questions
10 Topics
48 Lessons
3 Difficulty Levels
2026 Syllabus
AI-native · Pay less · Access more
Others charge $1,000+. FreeFellow gives you the 70% you need to pass for free.
The full question bank, written solutions, lessons, formula sheet, mixed practice, and readiness tracking for your Exam FAM prep are free forever. No trial period, no credit card. Every lesson ships with AI-narrated audio, and every constructed-response item has a copy-to-AI prompt builder for your own ChatGPT or Claude. Become a Fellow ($59/qtr) only if you want mock exams, flashcards, analytics, AI essay grading, and a personalized study plan.
Everything You Need to Pass
The free tier covers what most candidates need to pass. Fellow ($59/qtr) adds the pacing tools.
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1,027+ Practice QuestionsFREE
Every question includes a detailed, step-by-step solution.
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48 Lessons + AI-Narrated AudioFREE
Every lesson ships with AI-narrated audio — study while you commute or walk.
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Mixed PracticeFREE
Cross-topic sessions to keep recall sharp.
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Readiness TrackingFREE
Pass-probability estimate that sharpens with every session.
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Copy-to-AI Essay PromptsFREE
Structured prompts you paste into your own ChatGPT or Claude for self-graded essay feedback.
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Flashcards & Spaced RepetitionFELLOW
SM-2 review cards for long-term retention.
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Timed Mock ExamsFELLOW
Full-length practice exams weighted to the real blueprint.
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AI Grading for EssaysFELLOW
Instant AI-graded feedback on constructed-response essays using the official rubric.
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Performance AnalyticsFELLOW
Topic-by-topic mastery breakdown with difficulty mix.
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Personalized Study PlanFELLOW
Adapts to your exam date and weakest topics.
What's Free — and What Fellow Unlocks
The 70% of Exam FAM prep you actually need to pass — questions, solutions, lessons, mixed practice, AI-narrated audio, copy-to-AI essay prompts — is free forever. The remaining 30% (mocks, flashcards, analytics, study plan, AI essay grading) unlocks when you become a Fellow. Use the free tier as long as you like.
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Free forever
$0 · no credit card
1,027 practice questions with detailed solutions
48 full lessons with AI-narrated audio
Copy-to-AI essay prompts for your own ChatGPT or Claude
Mixed practice sessions across all topics
Formula sheet and reference materials
Readiness tracking with pass-probability estimates
No paywalls on questions · no trial period · no credit card
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Fellow unlock
$59 / qtr · $149 / yr per track
Timed mock exams with weighted scoring
Spaced-repetition flashcards backed by memory science
Topic-level practice to drill weak areas
Performance analytics by topic and difficulty
AI grading for constructed-response essays vs the official rubric
Personalized study plan that adapts to your exam date
How We Compare Save 90%+
Per-exam pricing across the major prep providers. The FreeFellow core (questions, solutions, lessons) is free forever — the optional Fellow tier is $59 per quarter, roughly 1/20th of what traditional providers charge.
FreeFellow core free
$0 · Fellow $59/qtr
Coaching Actuaries
$200–$400/exam
The Infinite Actuary
$150–$350/exam
Traditional providers bundle prep into a single up-front fee. FreeFellow keeps the question bank and lessons free forever and charges only for deeper study tools (mocks, flashcards, analytics). All numbers are competitor list prices as of 2026.
Sample Questions
Question 1
Easy
Which expression equals P(Ax)?
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Correct Answer: E
Solution
E is correct.
P=(1−da¨x)/a¨x=1/a¨x−d.
Question 2
Medium
Which of the following statements about TVaR is FALSE?
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Correct Answer: B
Solution
B is correct.
TVaR0=E[X], while VaR0 is the minimum possible value (often 0 for loss distributions). Since E[X] generally does not equal the minimum, the statement that TVaR at level p=0 equals VaR at level p=0 is false.
Question 3
Hard
You are given: Aˉx:n∣=0.60, nEx=0.35, and Aˉx+n=0.50. Calculate Aˉx.
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Correct Answer: C
Solution
C is correct.
First: Aˉx:n∣1=Aˉx:n∣−nEx=0.60−0.35=0.25.\n\nThe deferred insurance: n∣Aˉx=nEx⋅Aˉx+n=0.35×0.50=0.175.\n\nThe whole life insurance: Aˉx=Aˉx:n∣1+n∣Aˉx=0.25+0.175=0.425.
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Frequently Asked Questions
How many free Exam FAM practice questions does FreeFellow have?
FreeFellow currently offers 1027 free Exam FAM practice questions across 10 topics, each with a detailed step-by-step solution. Questions span three difficulty levels and are aligned to the 2026 syllabus. The question bank is updated regularly.
What Exam FAM topics are covered?
The questions cover 10 topics: Short-Term Insurance and Reinsurance Coverages, Severity, Frequency, and Aggregate Models, Parametric Estimation, Introduction to Credibility, Pricing and Reserving for Short-Term Insurance Coverages, and 5 more. Each topic page shows your progress and lets you filter by difficulty level. You can practice by topic to target your weak areas or take mixed-topic practice exams.
Does FreeFellow have Exam FAM study lessons?
Yes. FreeFellow includes 48 comprehensive text lessons for Exam FAM, covering key concepts and worked examples for each topic. Lessons are accessible without an account and are designed to complement question practice.
Is FreeFellow really free for Exam FAM prep, or is there a catch?
No catch. The 70% of Exam FAM prep you actually need to pass is free forever: the full question bank of 1027 practice questions, detailed solutions on every question, 48 lessons, mixed practice, the formula sheet, and readiness tracking. No trial period, no credit card. The remaining 30% (timed mock exams, flashcards with spaced repetition, performance analytics, and a personalized study plan) unlocks when you become a Fellow.
What does the $59 Fellow tier unlock for Exam FAM?
Fellow ($59 per quarter or $149 per year, per track) unlocks four things on top of the free tier: timed mock exams with weighted scoring that match the real exam blueprint, spaced-repetition flashcards built on memory science from cognitive psychology, topic-level practice to drill weak areas, performance analytics broken down by topic and difficulty, and a personalized study plan that adapts to your exam date. Everything else — questions, solutions, lessons — stays free.
How does FreeFellow compare to Coaching Actuaries, ASM, or TIA on price?
Traditional Exam FAM prep providers charge $200 to $3,500 for a single exam, paid upfront. FreeFellow keeps the question bank, written solutions, and lessons free forever. The optional Fellow tier is $59 per quarter (about 1/20th of what the big providers charge) and adds mock exams, flashcards, analytics, and a study plan. You can pass Exam FAM entirely on the free tier.
How should I use FreeFellow to study for Exam FAM?
Start with the lessons to build your conceptual foundation, then move to topic-based practice to identify weak areas. As your exam date approaches, switch to timed practice exams under realistic conditions. The free tier gives you everything you need to build mastery; if you want pacing tools (mock exams, analytics, a study plan) and long-term retention aids (spaced-repetition flashcards), become a Fellow.
What is the Exam FAM pass rate?
The Exam FAM pass rate is approximately 45-50%, based on historical SOA data. Pass rates vary by sitting. The SOA publishes pass rate statistics after each exam window.
How many hours should I study for Exam FAM?
The SOA recommends 250 to 300 study hours for each preliminary exam. Candidates with strong mathematical backgrounds may need 150 to 200 hours, while those new to the material may need 300 to 350 hours. Consistent daily study over 10 to 14 weeks is more effective than cramming.
What calculator is allowed on Exam FAM?
The SOA permits the Texas Instruments TI-30XS MultiView on all preliminary exams. No other calculators are allowed. Familiarize yourself with its functions before exam day.
How is Exam FAM scored?
SOA preliminary exams are scored on a 0-10 scale, with 6 as the passing threshold. You receive a pass/fail result along with your numeric score. The exam uses multiple-choice questions and the score is based on the number of correct answers.
What is the Exam FAM exam format?
SOA preliminary exams are 3-hour, 30-question computer-based tests administered at Prometric testing centers. All questions are multiple choice. The exam is offered in multiple testing windows throughout the year.
FreeFellow is an AI-native exam prep platform for actuarial (SOA & CAS), CFA, CFP, CPA, CAIA, GARP FRM, IRS Enrolled Agent, IMA CMA, and FINRA / NASAA securities licensing candidates — built around modern AI as a core capability rather than as a bolt-on. Every lesson ships with AI-narrated audio. Every constructed-response item has a copy-to-AI prompt builder so candidates can paste their answer into their own ChatGPT or Claude for self-graded feedback. Fellow members get instant AI grading on essays against the official rubric (currently CFA Level III, expanding to other essay-bearing sections).
The 70% you need to pass — question bank, written solutions, lessons, formula sheet, mixed practice, readiness tracking — is free forever, with no trial period and no credit card. Become a Fellow ($59/quarter or $149/year per track) to unlock mock exams, flashcards with spaced repetition, performance analytics, AI essay grading, and a personalized study plan.