SOAPreliminaryASA track
SOA Exam FM Pass Rates
Exam FM: Financial Mathematics
48.8%
April 2026 raw pass rate
+2.9 ptsvs 45.9% in February 2026
- All-time high
- 68.1%May 2020
- All-time low
- 41.0%December 2014
- Average
- 48.0%across 100 sittings
- Std. deviation
- 4.3 ptssitting to sitting
- Candidates tracked
- 194,3282007 to 2026
- Sittings
- 100all counted
Raw pass rate
Every Exam FM sitting
| Sitting | Candidates | Passed | Raw rate | Effective rate |
|---|---|---|---|---|
| April 2026 | 1,650 | 805 | 48.8% | 57.6% |
| February 2026 | 1,790 | 821 | 45.9% | 54.9% |
| December 2025 | 1,905 | 829 | 43.5% | 52.9% |
| October 2025 | 1,640 | 688 | 42.0% | 50.6% |
| August 2025 | 2,266 | 1,025 | 45.2% | 54.2% |
| June 2025 | 2,077 | 966 | 46.5% | 54.4% |
| April 2025 | 1,552 | 742 | 47.8% | 56.0% |
| February 2025 | 1,865 | 801 | 42.9% | 51.5% |
| December 2024 | 1,628 | 772 | 47.4% | 55.5% |
| October 2024 | 1,382 | 643 | 46.5% | 53.4% |
| August 2024 | 1,954 | 909 | 46.5% | 54.3% |
| June 2024 | 1,965 | 890 | 45.3% | 53.2% |
| April 2024 | 1,501 | 713 | 47.5% | 55.2% |
| February 2024 | 1,636 | 777 | 47.5% | 55.0% |
| December 2023 | 1,508 | 675 | 44.8% | 53.3% |
| October 2023 | 1,240 | 544 | 43.9% | 51.9% |
| August 2023 | 1,823 | 902 | 49.5% | 56.9% |
| June 2023 | 1,728 | 774 | 44.8% | 51.8% |
| April 2023 | 1,299 | 624 | 48.0% | 56.1% |
| February 2023 | 1,452 | 700 | 48.2% | 56.5% |
| December 2022 | 1,082 | 455 | 42.1% | 50.1% |
| October 2022 | 1,237 | 671 | 54.2% | 61.5% |
| August 2022 | 1,448 | 676 | 46.7% | 57.4% |
| June 2022 | 1,500 | 693 | 46.2% | 56.6% |
| April 2022 | 953 | 431 | 45.2% | 54.8% |
| February 2022 | 1,370 | 638 | 46.6% | 56.3% |
| December 2021 | 1,139 | 524 | 46.0% | 55.4% |
| October 2021 | 1,143 | 576 | 50.4% | 60.3% |
| August 2021 | 1,745 | 855 | 49.0% | 58.1% |
| June 2021 | 1,666 | 812 | 48.7% | 57.5% |
| April 2021 | 1,145 | 612 | 53.4% | 62.4% |
| February 2021 | 1,404 | 778 | 55.4% | 63.6% |
| December 2020 | 1,618 | 800 | 49.4% | 58.8% |
| October 2020 | 1,369 | 721 | 52.7% | 60.2% |
| August 2020 | 2,006 | 1,139 | 56.8% | 64.1% |
| June 2020 | 1,423 | 879 | 61.8% | 68.0% |
| May 2020 | 119 | 81 | 68.1% | 73.0% |
| April 2020 | 81 | 50 | 61.7% | 67.6% |
| February 2020 | 1,582 | 741 | 46.8% | 55.5% |
| December 2019 | 1,921 | 856 | 44.6% | 53.6% |
| October 2019 | 1,411 | 696 | 49.3% | 56.7% |
| August 2019 | 2,337 | 1,156 | 49.5% | 58.2% |
| June 2019 | 2,130 | 1,045 | 49.1% | 56.9% |
| April 2019 | 1,480 | 730 | 49.3% | 58.0% |
| February 2019 | 1,988 | 981 | 49.3% | 56.9% |
| December 2018 | 1,843 | 849 | 46.1% | 54.6% |
| October 2018 | 1,548 | 761 | 49.2% | 56.1% |
| August 2018 | 2,406 | 1,191 | 49.5% | 58.2% |
| June 2018 | 2,266 | 1,098 | 48.5% | 56.7% |
| April 2018 | 1,647 | 841 | 51.1% | 59.0% |
| February 2018 | 2,236 | 1,071 | 47.9% | 56.0% |
| December 2017 | 2,119 | 964 | 45.5% | 52.6% |
| October 2017 | 1,717 | 863 | 50.3% | 57.5% |
| August 2017 | 2,562 | 1,285 | 50.2% | 57.0% |
| June 2017 | 2,375 | 1,159 | 48.8% | 55.0% |
| April 2017 | 1,914 | 910 | 47.5% | 54.7% |
| February 2017 | 2,240 | 978 | 43.7% | 51.4% |
| December 2016 | 2,010 | 886 | 44.1% | 51.8% |
| October 2016 | 1,740 | 800 | 46.0% | 52.2% |
| August 2016 | 2,517 | 1,172 | 46.6% | 53.9% |
| June 2016 | 2,459 | 1,225 | 49.8% | 57.0% |
| April 2016 | 1,919 | 856 | 44.6% | 52.3% |
| February 2016 | 2,146 | 1,035 | 48.2% | 55.9% |
| December 2015 | 2,092 | 938 | 44.8% | 53.3% |
| October 2015 | 1,814 | 860 | 47.4% | 53.3% |
| August 2015 | 2,671 | 1,244 | 46.6% | 54.3% |
| June 2015 | 2,429 | 1,098 | 45.2% | 51.8% |
| March 2015 | 1,757 | 812 | 46.2% | 52.5% |
| February 2015 | 2,321 | 1,048 | 45.2% | 51.4% |
| December 2014 | 2,227 | 913 | 41.0% | 47.9% |
| October 2014 | 1,852 | 830 | 44.8% | 51.0% |
| August 2014 | 2,551 | 1,132 | 44.4% | 51.7% |
| June 2014 | 2,570 | 1,170 | 45.5% | 52.1% |
| April 2014 | 2,102 | 984 | 46.8% | 53.4% |
| February 2014 | 2,204 | 996 | 45.2% | 51.3% |
| December 2013 | 2,305 | 985 | 42.7% | 48.0% |
| October 2013 | 1,666 | 693 | 41.6% | 45.9% |
| August 2013 | 2,672 | 1,240 | 46.4% | 51.6% |
| June 2013 | 2,463 | 1,127 | 45.8% | 50.1% |
| April 2013 | 1,884 | 840 | 44.6% | 50.3% |
| February 2013 | 2,190 | 949 | 43.3% | 48.7% |
| December 2012 | 1,976 | 834 | 42.2% | 47.8% |
| October 2012 | 1,655 | 722 | 43.6% | 48.0% |
| August 2012 | 2,368 | 1,139 | 48.1% | 52.5% |
| June 2012 | 2,376 | 1,145 | 48.2% | 52.2% |
| April 2012 | 1,755 | 854 | 48.7% | 52.8% |
| February 2012 | 2,027 | 978 | 48.2% | 52.9% |
| December 2011 | 1,929 | 933 | 48.4% | 52.3% |
| October 2011 | 1,618 | 783 | 48.4% | 52.7% |
| August 2011 | 2,498 | 1,248 | 50.0% | 53.9% |
| June 2011 | 2,824 | 1,404 | 49.7% | 53.6% |
| February 2011 | 2,534 | 1,249 | 49.3% | 54.1% |
| December 2010 | 2,499 | 1,177 | 47.1% | 51.2% |
| August 2010 | 2,723 | 1,499 | 55.0% | 58.1% |
| May 2010 | 2,772 | 1,439 | 51.9% | 54.5% |
| February 2010 | 2,041 | 1,021 | 50.0% | 52.8% |
| August 2009 | 3,058 | 1,729 | 56.5% | 59.1% |
| May 2009 | 3,620 | 2,027 | 56.0% | 59.6% |
| November 2007 | 3,420 | 43 | 48.7% | 67.0% |
| May 2007 | 4,043 | 1,929 | 47.7% | 52.6% |
About Exam FM
Exam FM covers interest theory, annuities, bonds, and cash-flow matching. Alongside Exam P it forms the standard entry pair for actuarial students, and it runs on the same roughly bimonthly computer-based schedule.
Data: Society of Actuaries official exam statistics, 2007 to 2026. Last updated July 5, 2026.