Best Free Actuarial Exam Prep Resources in 2026
I spent thousands on study materials as a student. Coaching Actuaries, ACTEX manuals, TIA subscriptions. Each exam cost $300–$500 in materials alone, on top of the exam fees. By the time I earned my FSA, I had spent well over $5,000 just on prep. That is part of why I built FreeFellow.
The landscape has shifted. High-quality free resources now exist for every SOA preliminary exam. Smart candidates are combining them to pass without the financial burden.
FreeFellow: 6,300+ Free SOA Practice Questions
FreeFellow offers the largest free actuarial question bank available, covering all six SOA preliminary exams:
| Exam | Questions | Link |
|------|-----------|------|
| Exam P (Probability) | 1,132 | Practice |
| Exam FM (Financial Mathematics) | 1,000 | Practice |
| Exam FAM (Fundamentals of Actuarial Mathematics) | 1,040 | Practice |
| Exam SRM (Statistics for Risk Modeling) | 1,140 | Practice |
| Exam ALTAM (Advanced Long-Term Actuarial Mathematics) | 1,010 | Practice |
| Exam ASTAM (Advanced Short-Term Actuarial Mathematics) | 1,065 | Practice |
Every question includes a detailed solution. The platform provides features that paid providers charge hundreds for:
- Adaptive practice targeting your weakest learning objectives
- Readiness scoring estimating your probability of passing
- Full practice exams simulating real conditions (30 MCQs, 3 hours)
- Performance analytics with topic-level accuracy breakdowns
- Flashcards with spaced repetition for concept review
- Dynamic study plans based on your exam date and progress
FreeFellow covers all six SOA preliminary exams with 6,300+ questions. Every feature is free, no trial, no paywall.
SOA Official Resources
The SOA provides free resources that candidates often overlook:
Sample Questions and Solutions
The SOA publishes official sample questions for each exam, written by the same committee that writes the real thing. For Exam P, there are 326 questions with detailed solutions. Similar sets exist for FM and other exams.
Free Textbooks on the Syllabus
Some exams reference open-source textbooks. Exam SRM draws heavily from An Introduction to Statistical Learning (ISLR), freely available from its authors. Check the syllabus before buying anything.
The SOA sample questions are the single best free supplement. They are written by the people who write your exam.
Free Video Resources
Several actuarial educators maintain YouTube channels:
- The Infinite Actuary – selected free lessons for Exam P and FM
- Coaching Actuaries – some sample lectures published publicly
- Professor Leonard – not actuarial-specific, but his calculus and probability lectures are exceptionally clear
University OpenCourseWare is also valuable:
- MIT 18.05 – probability topics directly relevant to Exam P
- MIT 18.S096 – math with applications in finance (relevant to FM)
- Yale STAT 241 – probability theory
Study Manuals and Notes
Marcel Finan's free textbooks (Arkansas Tech University) cover Exam P and FM material. They are comprehensive, well-organized, and include practice problems.
ACTEX free samples cover high-weight topics from their paid manuals. Not complete, but useful for targeted review.
How to Combine Free Resources
Having access to resources is half the battle. Here is the framework I recommend:
Phase 1: Learn the Material (40% of study time)
Use study notes, textbooks, and video lectures to learn each topic. Marcel Finan's books or ISLR (for SRM) provide the theoretical foundation.
Phase 2: Practice Problems (50% of study time)
This is where most of your time should go. Start with topic-specific practice on FreeFellow, working through easier questions before progressing to harder ones. The three difficulty levels (D1, D2, D3) let you build up systematically.
Phase 3: Practice Exams (10% of study time)
In the final 2–4 weeks, take full-length practice exams under timed conditions. FreeFellow's practice exam feature generates realistic simulations for each SOA exam.
Many candidates spend 80% of their time reading and 20% practicing. Flip that ratio. Practice is where learning happens.
The Real Cost Comparison
| Resource | Cost Per Exam | All 6 Exams |
|----------|---------------|-------------|
| Coaching Actuaries | $300–$500 | $1,800–$3,000 |
| ACTEX/ASM Study Manual | $100–$200 | $600–$1,200 |
| The Infinite Actuary | $250–$400 | $1,500–$2,400 |
| FreeFellow | $0 | $0 |
The commercial providers offer excellent products. Many candidates benefit from their structured video courses. But if your primary need is practice questions and performance tracking, you can get that entirely for free.
I used commercial providers myself and found them valuable. But the $300–$500 per exam barrier keeps some students from even starting. That should not happen.
Which Free Resources by Exam
- Exam P: FreeFellow (1,132q) + SOA samples (326) + Marcel Finan + MIT 18.05
- Exam FM: FreeFellow (1,000q) + SOA samples + Marcel Finan FM
- Exam FAM: FreeFellow (1,040q) + SOA study notes + Bowers et al.
- Exam SRM: FreeFellow (1,140q) + ISLR (free) + SOA samples
- Exam ALTAM: FreeFellow (1,010q) + SOA study notes + Dickson, Hardy & Waters
- Exam ASTAM: FreeFellow (1,065q) + SOA study notes + Klugman
Start Your Preparation
The barrier to actuarial exam success is not money. It is consistent effort and smart practice. With over 6,300 free questions across all six SOA exams, FreeFellow gives you the tools to pass. Start with whichever exam is next on your list.