SOA ERMEnterprise Risk Management (CERA / FSA cross-track)
Fellowship (FSA)
4 hours·8–10 written-answer questions·≈400 study hoursWhat is officially available
The SOA publishes past written-answer exams with model solutions and examiner commentary for FSA exams and for ALTAM/ASTAM. For multiple-choice ASA exams it releases official sample questions and, for some exams, retired papers. Actuarium does not reproduce copyrighted papers; use the official archive plus the original practice set here.
Sittings worth mining
2012–2025 ERM
All papers, model solutions and case studies are published; the case study changes every few years.
Recurring question patterns
- Case-study-based risk appetite or governance critique
- EC or aggregation calculation
- Copula/tail dependence conceptual item
- Reinsurance or hedging design recommendation
The practice tab reproduces these patterns with original numbers — work a pattern here, then confirm against the official paper.