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Get started studying for the new SOA P & FM Exams this Fall with the ACTEX Study Manual for SOA P or the ACTEX Study Manual for SOA FM!
Each manual has been carefully revised to reflect all relevant changes to the syllabus material. Additionally, GOAL has been reworked for both manuals, with significant improvements to GOAL for SOA Exam P.
If you are planning to sit for P in July or FM in August, your pass guarantee will carry over to the first sitting either new exam, so you can be sure you will be properly prepared for your exam no matter what.
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All the study tools you need to pass your SOA P Exam - right at your fingertips.
Sitting for Exam P this July?
Finalize your preparation with our highly intensive Exam P Bootcamp!
In this specialized course, you will review all material on the Exam P syllabus in the three weeks leading up to your sitting, with a special focus on the areas that will trip you up on the exam. You'll gain a better understanding of harder topics, common errors, and exam strategy, as well as have the opportunity to ask your instructor specific questions you may have about the P syllabus.
The topic search feature allows you to search all integrated study materials for instances of a syllabus topic.
Integration is a system of organization by exam-related topics that enables custom, focused study.
The Law of Total Variance states that
This relationship has come up on several questions on recent exams.
This relationship is also sometimes called Eve's Law (from the expression on the right-hand side:
Intuitively, the Law of Total Variance says that the ("total") variance can be decomposed into a sum of "within-group" variance and "between-group" variance. For example, if the random variable
measures the age of a driver and
measures the number of claims made in a year, the variance in the number of claims (X) has two sources of variance: (1) the number of claims varies within age groups (EV) and (2) the average number of claims for a fixed age group varies between age groups (VE).
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