Reference

SOA Exam Analytics

What 456,147 official pass-list entries and 45,905 credential recognitions say about the SOA pathway: how pass rates move, which exams candidates take next and how fast, and how long the road to ASA and FSA actually runs.

Last updated July 5, 2026 · Source: official SOA exam results, archives, and recognition lists · Look up a name

Pass-list entries: 456,147across 1,181 sittings
Credential recognitions: 45,905ASA, CERA, and FSA
Distinct candidates observed: 130,876by exact listed name
Source documents: 1,299official SOA PDFs parsed

Pass-rate history by exam

Raw pass rates for the current preliminary exams, 2007 to 2026. Every exam links to its full sitting-by-sitting page with chart, table, and computed statistics; the pass-rates hub covers all 74 tracked CAS and SOA exams.

P 46.2% March 2026 · 106 sittings since 2007Full history › FM 48.8% April 2026 · 100 sittings since 2007Full history › FAM 60.6% February 2026 · 11 sittings since 2022Full history › SRM 71.2% January 2026 · 22 sittings since 2019Full history › ASTAM 50.9% April 2026 · 7 sittings since 2023Full history › ALTAM 45.8% April 2026 · 7 sittings since 2023Full history › PA 65.0% April 2026 · 16 sittings since 2018Full history ›

Difficulty shock by sitting

Each sitting's pass rate compared to that exam's own long-run average, in standard deviations (the z-score in the sitting data). Strongly negative values are sittings that graded far below the exam's norm; positive values ran easier than usual. Micro-sittings under 200 candidates and exams with fewer than 8 sittings are excluded here.

FAM

SRM

ASTAM

ALTAM

Toughest sittings vs the exam's own norm

Sittings with the most negative difficulty shock
Exam	Sitting	Pass rate	Candidates	Shock z
ILALAM	July 2020	38.4%	310	-2.46
SRM	May 2019	57.8%	410	-2.37
ILALPM	October/November 2020	31.3%	374	-2.28
ILALFVU	April/May 2014	37.6%	255	-2.20
FAM	October 2022	49.6%	853	-2.05
PA	June 2019	50.1%	1,282	-2.05
P	September 2008	35.3%	2,536	-2.03
PA	December 2018	50.3%	1,042	-2.01
GH	May 2010	36.7%	381	-1.94
MLC	May 2012	30.6%	2,624	-1.94

Most generous sittings

Sittings with the most positive difficulty shock
Exam	Sitting	Pass rate	Candidates	Shock z
P	May 2020	63.1%	726	+3.60
FM	June 2020	61.8%	1,423	+3.12
P	July 2020	57.4%	2,061	+2.44
FM	August 2009	56.5%	3,058	+2.33
C	February 2016	53.5%	1,815	+2.08
ILALFMU	April/May 2024	52.3%	434	+2.06
STAM	June 2020	59.1%	1,196	+1.99
FM	August 2020	56.8%	2,006	+1.99
FM	August 2010	55.0%	2,723	+1.93
IFM	March 2020	59.6%	1,140	+1.93

What candidates sit next

Directed transitions from each passed exam to the same candidate's next observed exam pass, from exact-name linkage across official pass lists. Share is that destination's fraction of all observed transitions out of the exam; the median gap is months between the two sittings.

After P

85,000 observed next-exam transitions

Most common next exams after P
Next exam	Share	Median gap
FM	73.7%	7 mo
MFE	7.0%	10 mo
IFM	4.9%	12 mo
SRM	3.3%	10 mo
MLC	3.3%	12 mo

After FM

71,922 observed next-exam transitions

Most common next exams after FM
Next exam	Share	Median gap
P	36.4%	3 mo
MFE	26.1%	11 mo
IFM	10.6%	11 mo
MLC	9.5%	11 mo
SRM	5.5%	7 mo

After FAM

5,337 observed next-exam transitions

Most common next exams after FAM
Next exam	Share	Median gap
ALTAM	33.1%	9 mo
SRM	28.9%	6 mo
ASTAM	21.0%	7 mo
PA	12.3%	7 mo
FM	1.7%	2 mo

After SRM

12,260 observed next-exam transitions

Most common next exams after SRM
Next exam	Share	Median gap
PA	47.7%	7 mo
FAM	19.3%	9 mo
STAM	7.4%	5 mo
FAML	5.1%	9 mo
IFM	5.1%	2 mo

After ASTAM

813 observed next-exam transitions

Most common next exams after ASTAM
Next exam	Share	Median gap
PA	47.5%	6 mo
SRM	23.6%	7 mo
GH101	9.0%	17 mo
FAM	6.0%	3 mo
GHDP	3.7%	12 mo

After ALTAM

1,312 observed next-exam transitions

Most common next exams after ALTAM
Next exam	Share	Median gap
PA	49.2%	6 mo
SRM	22.5%	7 mo
ILA101	8.4%	13 mo
ILALPM	6.5%	7 mo
FAM	2.7%	3 mo

After PA

10,139 observed next-exam transitions

Most common next exams after PA
Next exam	Share	Median gap
FAM	15.9%	9 mo
ILALPM	14.5%	17 mo
FAML	8.8%	10 mo
GHDP	7.0%	18 mo
LTAM	4.5%	10 mo

Momentum after a pass

How quickly candidates who pass each exam show up on another official pass list. The chart ranks exams with at least 2,000 observed passes by the share of candidates passing another exam within 12 months.

ILALPM 64.7% 3,035 passes

SRM 60.0% 16,045 passes

STAM 59.5% 8,318 passes

LTAM 57.1% 7,119 passes

ILALP 57.0% 2,572 passes

MLC 55.8% 25,079 passes

P 52.1% 117,014 passes

ERM 50.5% 2,931 passes

FAM 49.2% 8,357 passes

FM 47.2% 102,020 passes

MFE 45.3% 37,275 passes

IFM 43.0% 15,088 passes

FAML 42.2% 3,377 passes

ALTAM 42.0% 2,609 passes

ILALAM 41.6% 2,297 passes

Full velocity table (115 exams)

Velocity metrics for every exam
Exam	Passes	Next pass within 6 mo	12 mo	24 mo	Median months to next
P	117,014	27.6%	52.1%	66.2%	9
FM	102,020	25.0%	47.2%	62.2%	9
MFE	37,275	21.5%	45.3%	63.3%	11
C	31,284	18.3%	29.5%	45.8%	18
MLC	25,079	31.9%	55.8%	72.7%	10
PA	18,328	14.1%	30.2%	46.7%	11
SRM	16,045	37.9%	60.0%	72.6%	7
IFM	15,088	20.5%	43.0%	58.5%	10
FAM	8,357	28.8%	49.2%	62.1%	7
STAM	8,318	31.6%	59.5%	79.4%	8
LTAM	7,119	21.3%	57.1%	77.8%	8
FAP1	6,291	8.0%	23.6%	45.8%	17
FAML	3,377	22.1%	42.2%	59.0%	9
ILALPM	3,035	38.8%	64.7%	79.4%	10
ERM	2,931	28.3%	50.5%	63.1%	7
ALTAM	2,609	26.8%	42.0%	49.8%	6
ILALP	2,572	26.7%	57.0%	79.7%	12
ILALAM	2,297	24.2%	41.6%	49.5%	7
GHSPC	1,836	10.2%	18.1%	25.4%	11
ILALFMU	1,689	33.5%	45.1%	49.4%	6
ASTAM	1,674	26.7%	40.2%	47.7%	6
ILALFVU	1,580	30.9%	47.9%	57.5%	6
EA2L	1,477	44.5%	53.0%	65.3%	6
GHADV	1,462	33.4%	49.3%	60.7%	6
EA2F	1,389	38.4%	51.0%	62.7%	6
ILALRM	1,316	18.2%	33.3%	48.4%	11
GHCORU	1,281	22.8%	62.6%	85.3%	11
DPIU	1,213	30.3%	44.4%	57.9%	7
CSPIU	1,190	26.2%	32.6%	39.8%	6
QFIIRM	1,182	24.4%	39.6%	50.9%	9
GHDP	1,148	25.8%	55.0%	75.7%	12
CFEFD	1,014	30.6%	56.1%	71.0%	7
RETRPIRM	1,012	17.7%	32.1%	38.6%	7
FETE	1,011	25.0%	36.1%	43.0%	6
GHDPA	1,000	22.5%	56.5%	73.2%	12
EA2A	988	48.8%	55.8%	72.2%	6
DPGH	967	30.9%	45.1%	59.1%	7
CSPGH	929	22.8%	28.3%	34.8%	6
QFICORE	898	27.6%	61.3%	80.1%	7
AFE	883	23.1%	35.7%	48.0%	11
FAMS	813	20.9%	42.1%	61.3%	9
CFESDM	788	7.5%	12.9%	15.2%	7
EA2B	772	37.0%	46.2%	58.8%	6
QFIQF	769	30.9%	61.8%	78.4%	8
QFIPM	747	16.1%	39.9%	49.1%	7
DP	744	57.0%	57.8%	65.0%	6
QFIADV	742	29.1%	40.8%	47.3%	6
RETDAU	689	17.4%	44.9%	54.0%	7
GHFVA	688	38.2%	63.4%	74.3%	9
GHVRU	680	20.7%	53.1%	62.5%	7
GHDPC	610	46.4%	73.8%	86.1%	6
APMV	596	32.9%	37.4%	45.5%	6
CSP	572	40.6%	44.8%	53.1%	6
GHRM	565	18.6%	28.7%	32.2%	6
ILA101	556	15.8%	15.8%	15.8%	4
ILALFMC	504	34.3%	44.8%	48.2%	6
RETFRC	495	28.5%	63.0%	80.2%	7
FET	479	49.1%	53.0%	60.3%	6
RETDAC	462	18.4%	46.3%	57.6%	7
GH101	458	10.0%	10.0%	10.0%	4
CSPRU	415	28.4%	33.3%	37.8%	6
ILA201U	393	16.3%	16.3%	16.3%	4
ILALFVC	343	25.4%	37.3%	48.4%	7
DPRU	328	40.9%	51.8%	61.6%	6
APM	301	24.6%	38.9%	45.2%	11
GHFVCU	280	46.1%	64.3%	74.6%	6
GH201U	276	21.7%	21.7%	21.7%	4
ILA201I	255	12.2%	12.2%	12.2%	4
DPRC	249	22.9%	37.4%	45.8%	7
DPIC	248	28.2%	45.2%	58.9%	7
GHCORUUS	247	38.9%	71.3%	80.2%	7
GH301	238	6.3%	6.3%	6.3%	4
CSPRC	229	35.8%	38.4%	45.0%	6
CSPIC	222	27.9%	36.0%	41.0%	6
INV101	199	16.1%	16.1%	16.1%	4
EA1	197	23.9%	39.1%	53.8%	12
ILALFVUS	196	16.8%	24.5%	29.1%	7
ADVF	194	21.1%	59.3%	70.6%	7
GIINT	189	28.6%	48.7%	63.0%	9
CFE101	181	7.7%	7.7%	7.7%	4
GHFVU	176	45.5%	59.7%	66.5%	6
CP351	170	5.3%	5.3%	5.3%	4
GIRR	129	33.3%	53.5%	69.8%	10
ERMX	120	1.7%	65.8%	75.0%	7
GIADV	115	16.5%	33.0%	53.9%	12
GHCORC	110	24.6%	48.2%	86.4%	12
ILALFVUUS	107	8.4%	60.8%	64.5%	7
GHCORCUS	104	1.0%	68.3%	81.7%	7
RET101	102	18.6%	18.6%	18.6%	4
GIFREU	101	19.8%	29.7%	36.6%	7
GI101	81	14.8%	14.8%	14.8%	4
INV201	81	16.1%	16.1%	16.1%	4
GIIRR	62	29.0%	54.8%	71.0%	10
CFE201	56	14.3%	14.3%	14.3%	4
DPRCA	54	31.5%	37.0%	44.4%	6
ILALFVCA	44	11.4%	13.6%	15.9%	5
DPRCB	43	30.2%	46.5%	51.2%	6
GHVRC	38	28.9%	47.4%	55.3%	6
CP311	37	5.4%	5.4%	5.4%	4
RET201	33	3.0%	3.0%	3.0%	5
RETDAUUS	33	0.0%	54.5%	60.6%	7
GHCORCCA	31	16.1%	45.2%	64.5%	12
GI201	29	17.2%	17.2%	17.2%	4
RETDACCA	28	0.0%	39.3%	42.9%	12
RETFRCCA	27	33.3%	59.3%	81.5%	12
CP321	26	3.9%	3.9%	3.9%	5
CP341	25	8.0%	8.0%	8.0%	2.5
ILALFVCCA	23	0.0%	43.5%	43.5%	7
GHFVCC	16	75.0%	87.5%	100.0%	6
CP312	14	7.1%	7.1%	7.1%	2
GI301	12	16.7%	16.7%	16.7%	4
CFESDMB	11	18.2%	63.6%	90.9%	11.5
GHFVC	10	70.0%	80.0%	90.0%	6
GH201C	7	14.3%	14.3%	14.3%	4
RET301	5	20.0%	20.0%	20.0%	4

From exam pass to credential

Travel time from passing each exam to first appearing on an official ASA or FSA recognition list, by exam-pass cohort. Only cohorts old enough to be meaningfully observable are pooled (ASA: cohorts through 2022; FSA: through 2020), and completion shares are still floors, not ceilings: some candidates finish after the observation window, and exact-name linkage misses people whose listed name changes.

To ASA

Observed travel time from exam pass cohorts to ASA
Exam passed	Cohorts	Candidates	Reached ASA	Typical time
P	2008 to 2011	94,531	24.3%	5.3 yrs
FM	2008 to 2007	82,228	28.4%	4.9 yrs
MFE	2007 to 2018	35,534	49.0%	3.4 yrs
MLC	2007 to 2018	23,013	66.3%	2.9 yrs
C	2008 to 2007	29,377	59.9%	2.1 yrs
IFM	2018 to 2022	15,049	36.6%	3.6 yrs
STAM	2018 to 2022	8,303	66.1%	2.7 yrs
LTAM	2018 to 2022	6,297	84.6%	2.3 yrs
SRM	2018 to 2022	6,175	54.8%	2.7 yrs
PA	2018 to 2022	8,447	81.9%	1.1 yrs
FAM	2022 to 2022	333	52.3%	2.5 yrs

To FSA

Observed travel time from exam pass cohorts to FSA
Exam passed	Cohorts	Candidates	Reached FSA	Typical time
P	2008 to 2011	86,268	13.1%	7.6 yrs
FM	2008 to 2007	74,617	15.4%	7.2 yrs
MFE	2007 to 2018	35,534	28.3%	5.9 yrs
MLC	2007 to 2018	23,013	40.4%	5.6 yrs
C	2008 to 2007	29,377	35.6%	5.0 yrs
IFM	2018 to 2020	9,136	13.9%	5.6 yrs
STAM	2018 to 2020	4,656	25.3%	5.1 yrs
LTAM	2018 to 2020	4,300	37.8%	4.8 yrs
SRM	2018 to 2020	2,126	20.7%	4.9 yrs
PA	2018 to 2020	3,070	50.2%	4.0 yrs

New ASA, CERA, and FSA recognitions

Every name on the SOA's monthly recognition lists since 2007: 29,013 ASA, 294 CERA, and 16,598 FSA recognitions in total.

ASA CERA FSA

Last 12 recognition months

New recognitions by month and designation
Month	ASA	CERA	FSA
June 2026	354	9	428
May 2026	19	89	0
April 2026	148	0	0
March 2026	13	4	0
February 2026	345	10	208
January 2026	31	46	0
December 2025	175	10	341
November 2025	17	11	0
September 2025	121	10	274
August 2025	168	9	0
July 2025	65	40	0
June 2025	301	0	218

Methodology, caveats, and opt-out

Everything on this page is computed from official Society of Actuaries publications: the current exam results pages, the exam result archives, and the new ASA/CERA/FSA recognition lists. The dataset behind it covers 456,147 pass-list entries and 45,905 credential recognitions parsed from 1,299 source documents.

Transition, velocity, and travel-time metrics link records by exact listed name. Two different people sharing a name can be merged, and a person whose listed name changes will be split, so person-level linkage is an approximation that is reliable in aggregate rather than individually. Recent cohorts are right-censored: candidates still working toward a credential have not finished, so completion shares for recent years will rise as more lists publish.

Looking for a specific pass or credential record? Use the name lookup tool. If you appear on an official SOA list and want your name withheld from that tool, ask via the contact page; suppression hides a name from search without altering any official source or these aggregates. CAS results are covered as aggregates on the pass-rates hub; the CAS no longer publishes complete passing-name lists, so no person-level CAS metrics are built.