Exam FM/2 Details for 2008

POSTED: 14 January 2008

Computer-Based Testing
Exam FM/2 will be administered by computer-based testing (CBT) in May and November 2008 in the United States and in most other countries that currently offer this exam. The exact dates are listed below. For a limited number of localities outside the United States where CBT is not available, Exam FM/2 will be offered by paper and pencil. Computer-based testing will eventually give candidates more frequent opportunities to take Exam FM/2 within a standardized environment.

Exam Length
Exam FM/2 has been offered as a 2.5 hour exam for the past two years. In 2008, however, the exam will be administered as a three-hour exam. The additional half hour of testing does not reflect an increase in syllabus material. The increase in exam time reflects a standard industry practice for CBT that incorporates a few pilot questions in each exam. The pilot questions will be randomly placed in the exam (for both paper and pencil and computer-based forms). These pilot questions are included to judge their effectiveness for future exams, but they will not be used in the scoring of this exam. All other questions will be considered in the scoring.

Exam FM/2 will consist of 35 multiple-choice questions. All unanswered questions are scored incorrect. Therefore, candidates should answer every question on the exam.

Exam Dates
Exam FM/2 will be offered on the following dates in 2008:

Readings and Instructions
The learning objectives and list of readings for Exam FM/2 are available on the SOA Web Site and the CAS Web Site.

CBT Details
There are distinctive processes and procedures for CBT exams. Important details for registration, scheduling an appointment at a test center, and rules are available in the “Computer-Based Testing Rules and Procedures” Web page.

Grades
In addition to the benefit of more frequent administrations, CBT also makes it possible for candidates to receive an unofficial pass/fail result immediately upon completion of the exam. However, immediate pass/fail results will not be available for the first few administrations. Grades for Exam FM/2 will be released approximately eight weeks after each exam administration in 2008.