CAS Exam 2Financial Mathematics (FM)
Preliminary
2.5 hours·30 multiple-choice·≈250 study hoursWhat is officially available
Exam FM/2 is a computer-based preliminary exam. The CAS/SOA release official sample questions and solutions rather than full past papers. Work every official sample question, then use the practice set here.
Sittings worth mining
Official sample set
300+ sample questions with worked solutions; the definitive difficulty calibration.
Any CBT window
Score reports are pass/fail on a 0–10 scale; 6 is passing.
Recurring question patterns
- Every question is self-contained; there is no partial credit, so speed and formula recall dominate.
- Expect deductibles, policy limits, and 'per loss' vs 'per payment' framing even on Exam P.
- Distractors are usually the result of one specific slip (wrong tail, forgetting a conditional, wrong compounding).
The practice tab reproduces these patterns with original numbers — work a pattern here, then confirm against the official paper.