Actuarial exam pass rates
Pass rate here means candidates who passed divided by candidates who sat, as the societies publish it. Long-run averages are the simple mean of each sitting's rate.
- SOA Exam P had a 46.7% pass rate at its July 2026 sitting (1,366 of 2,925 candidates). Across 107 sittings since 2007, its average pass rate is 44.0%.
- SOA Exam FM had a 45.7% pass rate at its August 2026 sitting (1,209 of 2,648 candidates). Across 102 sittings since 2007, its average pass rate is 47.9%.
- CAS Exam 7 had a 23.7% pass rate at its Spring 2026 sitting (152 of 642 candidates). Across 16 sittings since 2011, its average pass rate is 43.8%.
- Among current exams with at least 5 sittings and an average of 100 or more candidates per sitting, CAS Exam 8 has the lowest long-run average pass rate at 39.2%, and SOA Exam SRM has the highest at 70.5%.
- In 2025, candidates sat 56,679 exam attempts across the CAS and SOA exams tracked here and passed 28,218 of them, a pooled pass rate of 49.8% (2024: 55,313 attempts, 51.6%).
- The dataset behind these figures covers 74 exams (42 current, 32 retired), 1,070 sittings and 926,103 exam attempts from 2007 through 2026.
Latest sitting, every current exam
| Exam | Latest sitting | Candidates | Pass rate | Long-run avg | Sittings |
|---|---|---|---|---|---|
| SOA preliminary (ASA) exams | |||||
| SOA Exam P | July 2026 | 2,925 | 46.7% | 44.0% | 107 |
| SOA Exam FM | August 2026 | 2,648 | 45.7% | 47.9% | 102 |
| SOA Exam FAM | July 2026 | 1,341 | 57.0% | 56.9% | 12 |
| SOA Exam SRM | May 2026 | 1,550 | 67.7% | 70.5% | 24 |
| SOA Exam ASTAM | April 2026 | 639 | 50.9% | 48.6% | 7 |
| SOA Exam ALTAM | April 2026 | 1,116 | 45.8% | 48.1% | 7 |
| SOA Exam PA | April 2026 | 1,965 | 65.0% | 62.5% | 16 |
| CAS exams | |||||
| CAS MAS-I | Summer 2026 | 509 | 46.4% | 45.8% | 19 |
| CAS MAS-II | Summer 2026 | 389 | 49.9% | 50.8% | 18 |
| CAS Exam 5 | Spring 2026 | 851 | 38.3% | 39.4% | 28 |
| CAS Exam 6-Canada | Spring 2026 | 123 | 40.7% | 39.5% | 27 |
| CAS Exam 6-Intl | Fall 2025 | 17 | 35.3% | 24.2% | 6 |
| CAS Exam 6-US | Spring 2026 | 638 | 36.4% | 42.5% | 27 |
| CAS Exam 7 | Spring 2026 | 642 | 23.7% | 43.8% | 16 |
| CAS Exam 8 | Spring 2026 | 476 | 38.4% | 39.2% | 17 |
| CAS Exam 9 | Spring 2026 | 464 | 55.0% | 49.9% | 16 |
| CAS PCPA | Summer 2026 | 429 | 74.8% | n/a | 2 |
| Enrolled Actuary exams | |||||
| SOA EA-1 | May 2026 | 50 | 44.0% | 37.6% | 18 |
| SOA EA-2F | November 2025 | 176 | 59.7% | 55.8% | 13 |
| SOA EA-2L | May 2026 | 137 | 78.1% | 54.3% | 13 |
| SOA fellowship (FSA) course exams | |||||
| SOA CFE 101 | July 2026 | 188 | 60.1% | n/a | 3 |
| SOA CFE 201 | July 2026 | 73 | 53.4% | n/a | 3 |
| SOA GH 101 | July 2026 | 338 | 48.2% | n/a | 3 |
| SOA GH 201-C | July 2026 | 3 | 33.3% | n/a | 3 |
| SOA GH 201-U | July 2026 | 260 | 46.9% | n/a | 3 |
| SOA GH 301 | July 2026 | 174 | 70.7% | n/a | 3 |
| SOA GI 101 | July 2026 | 104 | 64.4% | n/a | 3 |
| SOA GI 201 | March 2026 | 25 | 64.0% | n/a | 2 |
| SOA GI 301 | July 2026 | 28 | 67.9% | n/a | 3 |
| SOA ILA 101 | July 2026 | 667 | 42.9% | n/a | 3 |
| SOA ILA 201-I | July 2026 | 220 | 52.7% | n/a | 3 |
| SOA ILA 201-U | July 2026 | 244 | 49.2% | n/a | 3 |
| SOA INV 101 | July 2026 | 231 | 42.0% | n/a | 3 |
| SOA INV 201 | July 2026 | 98 | 40.8% | n/a | 3 |
| SOA RET 101 | July 2026 | 79 | 68.4% | n/a | 3 |
| SOA RET 201 | July 2026 | 57 | 59.6% | n/a | 3 |
| SOA RET 301 | March 2026 | 4 | 50.0% | n/a | 2 |
| SOA CP 311 | March 2026 | 56 | 28.6% | n/a | 2 |
| SOA CP 312 | March 2026 | 10 | 70.0% | n/a | 2 |
| SOA CP 321 | March 2026 | 26 | 57.7% | n/a | 2 |
| SOA CP 341 | July 2026 | 59 | 57.6% | n/a | 3 |
| SOA CP 351 | July 2026 | 204 | 45.1% | n/a | 3 |
Hardest and easiest current exams by long-run pass rate
| Exam | Average pass rate | Sittings | Since |
|---|---|---|---|
| Lowest long-run average | |||
| CAS Exam 8 | 39.2% | 17 | 2011 |
| CAS Exam 5 | 39.4% | 28 | 2011 |
| CAS Exam 6-Canada | 39.5% | 27 | 2011 |
| CAS Exam 6-US | 42.5% | 27 | 2011 |
| CAS Exam 7 | 43.8% | 16 | 2011 |
| Highest long-run average | |||
| SOA Exam SRM | 70.5% | 24 | 2018 |
| SOA Exam PA | 62.5% | 16 | 2018 |
| SOA Exam FAM | 56.9% | 12 | 2022 |
| SOA EA-2F | 55.8% | 13 | 2013 |
| SOA EA-2L | 54.3% | 13 | 2014 |
Exam attempts and pooled pass rate by year
| Year | SOA attempts | CAS attempts | All attempts | Passed | Pooled pass rate |
|---|---|---|---|---|---|
| 2020 | 37,843 | 4,693 | 42,536 | 22,886 | 53.8% |
| 2021 | 41,916 | 7,067 | 48,983 | 24,884 | 50.8% |
| 2022 | 41,603 | 7,396 | 48,999 | 24,665 | 50.3% |
| 2023 | 43,765 | 8,424 | 52,189 | 27,944 | 53.5% |
| 2024 | 46,428 | 8,885 | 55,313 | 28,550 | 51.6% |
| 2025 | 46,937 | 9,742 | 56,679 | 28,218 | 49.8% |
| 2026 (to date) | 33,036 | 6,681 | 39,717 | 20,044 | 50.5% |
Source and method. Computed from the official statistics the Casualty Actuarial Society and the Society of Actuaries publish after each sitting. Sittings too small to be meaningful are charted on the exam pages but left out of averages. Full history, charts and effective pass rates for every exam: Exam Pass Rates.
New actuarial credentials per year
How many people reach Associate and Fellow each year, counted from the societies' own recognition lists, and how quickly candidates move from one pass to the next.
- The Society of Actuaries recognized 1,886 new Associates (ASA) and 1,065 new Fellows (FSA) in 2025, against 1,893 and 841 in 2024.
- The Casualty Actuarial Society's New Member Lists for 2025 name 720 new Associates (ACAS) and 314 new Fellows (FCAS), against 625 and 419 in 2024.
- So far in 2026, through October 2026, the SOA has recognized 1,209 new ASAs and 1,074 new FSAs; CAS lists through November 2026 name 537 new ACAS and 377 new FCAS.
- From 2007 through October 2026, SOA recognition lists record 29,312 ASA and 17,036 FSA designations.
- After passing Exam P, 52.1% of SOA passers recorded another exam pass within 12 months and 65.7% within 24 months; the median gap to the next pass is 7 months.
- After passing Exam MAS-I, 57.6% of CAS passers recorded another exam pass within 12 months and 77.0% within 24 months; the median gap to the next pass is 12 months.
New designations by calendar year
| Year | New ASA | New FSA | New ACAS | New FCAS |
|---|---|---|---|---|
| 2019 | 632 | 1,032 | 657 | 354 |
| 2020 | 1,106 | 867 | 225 | 70 |
| 2021 | 1,587 | 890 | 346 | 477 |
| 2022 | 1,453 | 1,104 | 381 | 305 |
| 2023 | 1,924 | 920 | 440 | 328 |
| 2024 | 1,893 | 841 | 625 | 419 |
| 2025 | 1,886 | 1,065 | 720 | 314 |
| 2026 (to date) | 1,209 | 1,074 | 537 | 377 |
Pace after an entry exam
| After passing | Passes on record | Next pass within 6 mo | Within 12 mo | Within 24 mo | Median months |
|---|---|---|---|---|---|
| SOA Exam P | 103,455 | 30.6% | 52.1% | 65.7% | 7 |
| SOA Exam FM | 97,020 | 25.0% | 46.2% | 61.3% | 9 |
| CAS Exam MAS-I | 5,842 | 35.5% | 57.6% | 77.0% | 12 |
| CAS Exam 5 | 5,326 | 34.8% | 58.1% | 75.3% | 12 |
Source and method. Counted from the SOA's published lists of new ASAs, CERAs and FSAs and the CAS's official New Member Lists and historical passing-candidate lists. Aggregates only: no individual is identified on this page. Method notes and the full tables: SOA exam analytics and CAS exam analytics.
Health: assumptions filed in ACA rate filings
What issuers assumed, not only what they charged: enrollment-weighted factors from the Unified Rate Review Template every ACA issuer files, by plan year.
- Individual market ACA filings for plan year 2027 carry an enrollment-weighted average rate change of +14.4%, against +26.1% for plan year 2026, across 344 filings.
- The same filings assume a +8.5% enrollment-weighted morbidity adjustment (plan year 2026: +9.3%); the median filing assumes +8.3%.
- Filed prescription drug trend for plan year 2027 is +5.2% unit cost and +6.0% utilization; inpatient is +5.6% cost and +3.1% utilization.
- Small group filings for plan year 2027 carry a +12.3% average rate change and a +2.4% morbidity adjustment across 307 filings.
- By state, the largest filed individual market morbidity adjustment for plan year 2027 is SC at +16.4% and the smallest is WV at −6.0%.
- Manual-rated filings, 2.4% of plan year 2027 individual enrollment, report every factor as 1.000 by construction and are excluded from the factor averages.
Filed rate change and assumptions by plan year
| Plan year | Individual filings | Individual rate change | Morbidity | Rx unit cost | Rx utilization | Small group rate change | Small group morbidity |
|---|---|---|---|---|---|---|---|
| PY2024 | 379 | +6.0% | −0.6% | +5.6% | +3.2% | +7.1% | +0.5% |
| PY2025 | 379 | +6.5% | −0.1% | +5.6% | +4.1% | +8.3% | +0.4% |
| PY2026 | 373 | +26.1% | +9.3% | +7.0% | +4.4% | +11.7% | +1.5% |
| PY2027 | 344 | +14.4% | +8.5% | +5.2% | +6.0% | +12.3% | +2.4% |
Source and method. Computed from the CMS Rate Review public use files (Unified Rate Review Template, Worksheets 1 and 2). State, carrier and per-factor detail, with the methodology and the treatment of manual-rated filings: ACA Filing Assumptions Benchmark.
P&C pricing: what carriers disclose
Renewal pricing as each carrier reports it in its own SEC filings. The metrics differ by carrier (renewal premium change includes exposure, pure price does not), so each row keeps its carrier's definition and the rows are not averaged into an index.
- Travelers disclosed a +4.8% renewal premium change in Business Insurance for Q2 2026, against +7.7% in Q2 2025.
- Selective disclosed a +6.5% renewal pure price in Standard Commercial for Q2 2026, against +8.9% in Q2 2025.
- Hanover disclosed a +7.8% renewal price change in Core Commercial for Q2 2026, against +10.7% in Q2 2025.
- Selective disclosed a +8.9% renewal pure price in Standard Personal for Q2 2026, against +19.0% in Q2 2025.
- Hanover disclosed a +8.7% renewal price change in Personal Lines for Q2 2026, against +12.3% in Q2 2025.
- Munich Re reported a −5.5% risk-adjusted price change at the Mid-year 2026 renewals, against −2.5% at Jan 2026.
- Hannover Re reported a −4.5% inflation- and risk-adjusted price change at the Mid-year 2026 renewals, against −3.2% at Jan 2026.
Latest disclosed pricing metric by carrier and segment
| Carrier and segment | Metric, as defined by the carrier | Quarter | Latest | Year earlier |
|---|---|---|---|---|
| Commercial lines | ||||
| Travelers Business Insurance | Renewal premium change | Q2 2026 | +4.8% | +7.7% |
| Selective Standard Commercial | Renewal pure price | Q2 2026 | +6.5% | +8.9% |
| Selective Excess & Surplus | Renewal pure price | Q2 2026 | +3.4% | +9.3% |
| Hanover Core Commercial | Renewal price change | Q2 2026 | +7.8% | +10.7% |
| Hanover Specialty | Renewal price change | Q2 2026 | +3.6% | +7.8% |
| CNA Commercial | Renewal premium change | Q2 2026 | +2.0% | +6.0% |
| CNA P&C Overall | Renewal premium change | Q2 2026 | +2.0% | +5.0% |
| CNA Specialty | Renewal premium change | Q2 2026 | +4.0% | +4.0% |
| Hartford Middle Market | Renewal written price increase | Q2 2026 | +3.5% | +5.8% |
| Hartford Small Business | Renewal written price increase | Q2 2026 | +4.1% | +5.7% |
| W. R. Berkley Total ex-comp | Average rate increase ex-comp | Q1 2026 | +7.2% | +8.3% |
| Personal lines | ||||
| Selective Standard Personal | Renewal pure price | Q2 2026 | +8.9% | +19.0% |
| Hanover Personal Lines | Renewal price change | Q2 2026 | +8.7% | +12.3% |
| Hartford Personal Auto | Renewal written price increase | Q2 2026 | +5.5% | +14.0% |
| Hartford Homeowners | Renewal written price increase | Q2 2026 | +10.4% | +12.7% |
| Allstate Auto (implemented) | Implemented rate change | Q2 2026 | 0.0% | +0.4% |
| Allstate Homeowners (implemented) | Implemented rate change | Q2 2026 | −0.1% | +1.4% |
Source and method. Extracted from earnings releases and supplements filed with the SEC (EDGAR) by 7 carriers; reinsurance renewal figures come from each reinsurer's official releases. Quarterly history, definitions and every source document: P&C Pricing Pulse.
AI patents granted to insurers
Granted US utility patents in artificial intelligence and machine learning, counted by first applicant and grant date.
- Insurance-sector filers tracked here were granted 296 US artificial intelligence and machine learning patents in the 12 months to November 10, 2026, against 295 in the prior 12 months.
- UnitedHealth received the most, 75 grants, followed by State Farm with 65 and Allstate with 30.
- P&C carriers account for 137 of the 296 grants (46%), across 10 active filers.
- 34 tracked filers received at least one grant in the window; 143 tracked companies received none.
Top insurance-sector AI patent filers, trailing 12 months
| Filer | Type | Grants, latest 12 mo | Prior 12 mo |
|---|---|---|---|
| 1. UnitedHealth | Health insurer | 75 | 65 |
| 2. State Farm | P&C carrier | 65 | 77 |
| 3. Allstate | P&C carrier | 30 | 34 |
| 4. USAA | P&C carrier | 19 | 23 |
| 5. Equifax | Vendor | 11 | 12 |
| 6. Humana | Health insurer | 10 | 4 |
| 7. Verisk | Vendor | 9 | 11 |
| 8. AIG | P&C carrier | 7 | 2 |
| 9. Cotality | Vendor | 7 | 3 |
| 10. MassMutual | Life insurer | 6 | 11 |
Source and method. Counted from US Patent and Trademark Office grant records (Open Data Portal). Scope: Granted US utility patents that carry CPC subclass G06N (artificial intelligence and machine learning) OR name a machine learning technique in the invention title, counted by first applicant and by grant date. Quarterly history, every filer and the patents themselves: AI Patent Watch.
Common questions, answered from the data
What is the pass rate for SOA Exam P?
SOA Exam P had a 46.7% pass rate at its July 2026 sitting, when 1,366 of 2,925 candidates passed. Across 107 sittings since 2007, the average pass rate is 44.0%. Exam FM, the other usual first exam, passed 45.7% of candidates at its August 2026 sitting and averages 47.9%.
Which actuarial exam has the lowest pass rate?
Among current exams with at least 5 sittings and an average of 100 or more candidates per sitting, CAS Exam 8 has the lowest long-run average pass rate at 39.2% over 17 sittings, followed by CAS Exam 5 (39.4%) and CAS Exam 6-Canada (39.5%). The highest is SOA Exam SRM at 70.5%. A pass rate measures the candidate pool as well as the exam, so upper-level exams taken by experienced candidates are not directly comparable with entry exams.
How many people take actuarial exams each year?
In 2025, candidates sat 56,679 exam attempts across the CAS and SOA exams tracked here: 46,937 on SOA-administered exams and 9,742 on CAS exams. 28,218 attempts passed, a pooled pass rate of 49.8%. These are attempts, not people: a candidate who sits two exams in a year is counted twice.
What are the pass rates for CAS exams?
At the most recent sittings, MAS-I passed 46.4% (Summer 2026), MAS-II passed 49.9% (Summer 2026), Exam 5 passed 38.3% (Spring 2026), Exam 6-Canada passed 40.7% (Spring 2026), Exam 6-Intl passed 35.3% (Fall 2025), Exam 6-US passed 36.4% (Spring 2026), Exam 7 passed 23.7% (Spring 2026), Exam 8 passed 38.4% (Spring 2026), Exam 9 passed 55.0% (Spring 2026). Long-run averages run from 24.2% to 50.8%.
How many new actuaries are credentialed each year?
In 2025, the Society of Actuaries recognized 1,886 new ASAs and 1,065 new FSAs, and the Casualty Actuarial Society's New Member Lists named 720 new ACAS and 314 new FCAS. Many Fellows appear first as Associates, so the four figures should not be added into one count of people.
How long does it take to pass the next actuarial exam?
Among candidates who passed SOA Exam P, 52.1% had another exam pass on record within 12 months and 65.7% within 24 months, with a median gap of 7 months. For CAS Exam MAS-I the figures are 57.6% within 12 months and 77.0% within 24 months, median 12 months.
How much are ACA premiums rising for 2027?
Individual market rate filings for plan year 2027 carry an enrollment-weighted average rate change of +14.4% across 344 filings, down from +26.1% for plan year 2026. Issuers filed a +8.5% morbidity adjustment on average. Small group filings average +12.3%. These are filed rates on renewing plans from the CMS Rate Review data, before subsidies.
Are commercial insurance rates still rising?
Of 6 carriers with a commercial pricing figure for both periods, 6 disclosed a positive renewal price change in their latest quarter and 6 disclosed a smaller figure than a year earlier: Travelers Business Insurance +4.8% (renewal premium change, against +7.7% in Q2 2025); Selective Standard Commercial +6.5% (renewal pure price, against +8.9% in Q2 2025); Hanover Core Commercial +7.8% (renewal price change, against +10.7% in Q2 2025); CNA Commercial +2.0% (renewal premium change, against +6.0% in Q2 2025). Each figure uses the carrier's own metric, so the levels are not directly comparable across carriers. On the reinsurance side, Munich Re reported −5.5% at the Mid-year 2026 renewals and Hannover Re reported −4.5% at the Mid-year 2026 renewals.
Which insurance company holds the most AI patents?
By grants in the 12 months to November 10, 2026, UnitedHealth leads the insurance-sector filers tracked here with 75 US AI and machine learning patents, ahead of State Farm (65) and Allstate (30). The tracked group received 296 grants in total. The count is of patents granted in the window, by first applicant, not of all patents a company owns.
How to cite this page
actuary.info, "Actuarial Statistics 2026," last updated November 10, 2026, https://actuary.info/actuarial-statistics/
Every figure here is recomputed from the underlying files each time the site is built, so a number can change when a society posts a new sitting or a regulator republishes a file. Quote the figure with its sitting, plan year or quarter, and where precision matters cite the primary source named under each section. The data behind each section was last refreshed on:
- Exam pass ratesOctober 25, 2026
- SOA credentials and paceNovember 8, 2026
- CAS credentials and paceOctober 26, 2026
- ACA filed assumptionsNovember 4, 2026
- P&C pricing disclosuresAugust 27, 2026
- AI patent grantsNovember 10, 2026
Corrections: contact the editor. How the site is produced: editorial process.