The Fundamentals of Actuarial Practice (FAP) e-Learning course is administered by the Society of Actuaries. It consists of eight (8) modules and two (2) assessment papers, the Interim Assessment (IA) and the Final Assessment (FA). The course covers topics that will expose candidates to applications of actuarial concepts in business environments as well as real-world situations. It is a self-paced learning course that a qualified candidate can access via the internet at his/her preferred schedule.
More information can be found here.
FAP Interim Assessment
The FAP Interim Assessment consists of a series of questions that the Candidate will answer in written format in MS Word and Excel files. It tests topics covered in Modules 1-5 of the FAP. Candidates have 30 days to complete the assessment and submit their paper.
More information on the Interim Assessment can be found here.
FAP Final Assessment
The FAP Final Assessment has a format that is similar to the Interim Assessment. The topics tested are covered in Modules 6-8, with 96 hours allotted to complete the assessment.
More information on the Final Assessment can be found here.