SOAPreliminaryRetiredASA track
SOA Exam MFE Pass Rates
Exam MFE: Models for Financial Economics
49.2%
March 2018 raw pass rate
−3.0 ptsvs 52.2% in November 2017
- All-time high
- 52.2%November 2017
- All-time low
- 34.7%November 2009
- Average
- 46.4%across 26 sittings
- Std. deviation
- 4.5 ptssitting to sitting
- Candidates tracked
- 71,1982007 to 2018
- Sittings
- 26all counted
Raw pass rate
Every Exam MFE sitting
| Sitting | Candidates | Passed | Raw rate | Effective rate |
|---|---|---|---|---|
| March 2018 | 2,774 | 1,366 | 49.2% | 52.5% |
| November 2017 | 2,814 | 1,470 | 52.2% | 56.8% |
| July 2017 | 2,952 | 1,395 | 47.3% | 50.9% |
| March 2017 | 2,709 | 1,315 | 48.5% | 53.2% |
| November 2016 | 2,923 | 1,419 | 48.5% | 54.6% |
| July 2016 | 2,827 | 1,385 | 49.0% | 55.1% |
| March 2016 | 2,612 | 1,298 | 49.7% | 54.4% |
| November 2015 | 2,820 | 1,349 | 47.8% | 53.5% |
| July 2015 | 2,636 | 1,233 | 46.8% | 52.4% |
| March 2015 | 2,486 | 1,241 | 49.9% | 55.4% |
| November 2014 | 2,885 | 1,409 | 48.8% | 54.2% |
| July 2014 | 2,852 | 1,298 | 45.5% | 51.7% |
| March 2014 | 2,550 | 1,290 | 50.6% | 55.3% |
| November 2013 | 2,303 | 972 | 42.2% | 47.3% |
| July 2013 | 2,857 | 1,414 | 49.5% | 54.9% |
| March 2013 | 2,676 | 1,289 | 48.2% | 52.6% |
| November 2012 | 2,393 | 1,033 | 43.2% | 48.5% |
| August 2012 | 2,267 | 1,094 | 48.3% | 53.1% |
| April 2012 | 2,834 | 1,363 | 48.1% | 53.4% |
| November 2011 | 3,353 | 1,421 | 42.4% | 47.5% |
| May 2011 | 3,404 | 1,515 | 44.5% | 50.9% |
| November 2010 | 3,232 | 1,140 | 35.3% | 39.4% |
| November 2009 | 3,217 | 1,116 | 34.7% | 39.2% |
| May 2009 | 3,568 | 1,400 | 39.2% | 43.1% |
| November 2007 | 1,944 | 994 | 51.1% | 55.5% |
| May 2007 | 1,310 | 601 | 45.9% | 52.5% |
About Exam MFE
MFE, jointly administered with the CAS as Exam 3F for part of its life, covered derivatives and financial economics. IFM replaced it in 2018.
Data: Society of Actuaries official exam statistics, 2007 to 2018. Last updated July 5, 2026.