SOA QFI QFQuantitative Finance & Investment — Quantitative Finance
Fellowship (FSA)
5 hours·≈10–12 written-answer questions with derivations·≈450 study hoursWhat is officially available
Every FSA written-answer exam since the mid-2000s is published on soa.org with the model solution and examiner report, plus the case study where one is used. Actuarium does not reproduce copyrighted papers; use the official archive and the original practice set here.
Sittings worth mining
2019–2025 QFI QF
Derivation-heavy; every paper contains an Itô/PDE item and a term-structure model comparison.
2013–2018 QFI Core
Older format but the stochastic calculus and interest-rate model questions are still representative.
Recurring question patterns
- Itô / PDE derivation
- Short-rate model comparison and calibration
- CDS or Merton computation
- Monte Carlo variance reduction discussion
The practice tab reproduces these patterns with original numbers — work a pattern here, then confirm against the official paper.