Exam IFM: Investment and Financial Markets

Welcome to the IFM exam home page! Please review all of the information and links provided below.

The IFM Exam is a three-hour exam that consists of 30 multiple-choice questions.  It is offered via computer–based testing (CBT).

Enhanced Computer Based Scheduling:

• STEP 1: Register with the Society of Actuaries by the exam deadline date
• STEP 2: Receive emailed Acknowledgement/Receipt, wait 1 hour, schedule a seat at a Prometric Center

The IFM Exam will be offered for the last time in November 2022.

The syllabus for Exam IFM develops the candidate's knowledge of the theoretical basis of corporate finance and financial models and the application of those models to insurance and other financial risks. A thorough knowledge of calculus, probability (as covered in Exam P), basic corporate finance (as covered in VEE Accounting and Corporate Finance) and interest theory (as covered in Exam FM) is assumed.