The Probability Exam is a three-hour exam that consists of 30 multiple-choice questions and is administered as a computer-based test (CBT). For additional details, please refer to Exam Rules

The purpose of the syllabus for this examination is to develop knowledge of the fundamental probability tools for quantitatively assessing risk. The application of these tools to problems encountered in actuarial science is emphasized. A thorough command of the supporting calculus is assumed. Additionally, a very basic knowledge of insurance and risk management is assumed.

A table of values for the normal distribution is available below for candidates to download and will be included with the examination. Since the table will be included with the examination, candidates will not be allowed to bring copies of the table into the examination room.

Check the Updates section on this exam’s home page for any changes to the exam or syllabus.

The ranges of weights shown are intended to apply to the large majority of exams administered. On occasion, the weights of topics on an individual exam may fall outside the published range. Candidates should also recognize that some questions may cover multiple learning outcomes.

Each multiple-choice problem includes five answer choices identified by the letters A, B, C, D, and E, only one of which is correct. Candidates must indicate responses to each question on the computer.

As part of the CBT process, a few pilot questions will be randomly placed in the exam (paper and pencil and computer-based forms). These pilot questions are included to judge their effectiveness for future exams, but they will not be used in the scoring of this exam. All other questions will be considered in the scoring. All unanswered questions are scored incorrect. Therefore, candidates should answer every question on the exam. There is no set requirement for the distribution of correct answers for this examination. It is possible that a particular answer choice could appear many times on an examination or not at all. Candidates are advised to answer each question to the best of their ability, independently from how they have answered other questions on the examination.

Since the CBT exam will be offered over a period of a few days, each candidate will receive a test form composed of questions selected from a pool of questions. Statistical scaling methods are used to ensure within reasonable and practical limits that, during the same testing period of a few days, all forms of the test are comparable in content and passing criteria. The methodology that has been adopted is used by many credentialing programs that give multiple forms of an exam.

To study for the Probability (P) Exam, start with the applicable syllabus and continue with the supplemental materials below.

Curabitur luctus euismod nunc, at posuere elit porta sed. Maecenas ullamcorper tristique fringilla. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nunc dignissim volutpat diam scelerisque ultrices.