Retired exam
Society of Actuaries retired SOA-EXAM-IFM on 2022-11-30. ATPA is the named replacement path.
Explore related current path ATPA: Advanced Topics in Predictive Analytics (ATPA) AssessmentExam IFM (Investments and Financial Markets) was a Society of Actuaries certification covering portfolio theory, asset pricing, and derivatives. This exam is retired as of 2022-11-30. It has been replaced by the Advanced Topics in Predictive Analytics (ATPA) Assessment. Candidates seeking actuarial credentials should now pursue the ATPA path instead of this legacy exam. The exam featured 30 questions and a 180-minute duration, requiring a registration fee of 325.0 dollars for those who took it before the retirement date.
This retired exam was intended for actuarial candidates focusing on financial mathematics and investment theory. Current candidates should shift their focus to the ATPA assessment to meet Society of Actuaries requirements for professional development and credentialing within the actuarial field.
Since Exam IFM is retired, do not prepare for it. Focus your efforts on the ATPA assessment. While knowledge of financial markets and risk management remains relevant, you must learn the specific predictive analytics methodologies required for the ATPA. Direct your study time toward the current official syllabus provided by the Society of Actuaries for their active assessment programs to ensure you meet all requirements for your professional actuarial journey.
This domain covers the mathematical framework for constructing portfolios that maximize expected return for a given level of risk, focusing on the fundamental principles of modern portfolio theory and the efficient allocation of various financial assets.
This domain addresses models used to determine the fair value of assets based on systematic risk and market equilibrium, providing candidates with the tools to evaluate asset pricing under different economic conditions and market environments.
This domain examines how information is reflected in security prices and the psychological factors influencing financial market participants, exploring the efficient market hypothesis alongside behavioral finance principles that impact overall market dynamics and investor decision-making processes.
This domain focuses on evaluating investment projects and managing risk through quantitative analysis of financial data, ensuring that candidates understand the metrics required to assess project viability and the potential risks associated with various investment opportunities.
This domain covers the mechanics and valuation of financial options contracts within various market conditions, providing knowledge regarding how these instruments function and how their values are derived based on underlying asset price movements and volatility.
This domain explores strategies for using options to hedge against or manage exposure to financial market volatility, teaching candidates how to implement risk mitigation techniques to protect portfolios from adverse price fluctuations in the broader financial markets.
This domain addresses the mathematical pricing of derivatives and the duality between option prices and probability, focusing on the Black-Scholes formula and risk-neutral valuation techniques that are used for understanding modern derivative pricing and financial engineering applications.
The retired Exam IFM consisted of exactly 30 questions in a linear format, which tested candidates on their knowledge of financial markets, investment theory, and derivative pricing models before the exam was officially retired by the Society of Actuaries.
The Society of Actuaries does not disclose specific passing scores for its exams, including the retired Exam IFM. Candidates were evaluated based on their performance across the entire assessment, and results were provided to reflect their mastery of the syllabus material.
The retired Exam IFM was a 180-minute exam, providing candidates with three hours to complete the 30 questions. This duration was designed to allow sufficient time for complex quantitative analysis and the application of various financial models required by the syllabus.
The registration fee for the retired Exam IFM was 325.0 dollars. This fee covered the administrative costs associated with the exam delivery and grading process, and it was required for all candidates who registered for the assessment prior to its retirement date.
Verified 2026-08-30
This index was compiled by reviewing official Society of Actuaries exam guides and third-party documentation to provide accurate historical data regarding the retired exam and its successor, ensuring that all information presented is consistent with the official records maintained by the organization.