LTAM Exam Day Guide
Everything you need to know before sitting for Exam LTAM: Long-Term Actuarial Mathematics. Testing center logistics, time management, and strategies for performing your best on exam day.
Understand the exam structure before walking in
LTAM has two sections: a multiple-choice section and a written-answer section. Know how much time is allocated to each and plan your pacing accordingly. The written-answer section carries significant weight.
Bring your calculator and backup
The BA-II Plus is permitted for LTAM. Bring a backup with fresh batteries. You will need the calculator for both sections, especially for reserve and premium calculations.
Write down the key identity A_x = 1 - d * a-double-dot_x
This relationship between insurance and annuity present values is used constantly. Also write down the recursive reserve formula and the premium formulas for whole life and endowment insurance.
For multiple-choice: use the equivalence principle as a sanity check
If a problem asks for a net premium, the present value of premiums must equal the present value of benefits at issue. Use this principle to verify your answer before moving on.
For written-answer: show every step
Partial credit is awarded on written-answer questions. Write out the formula you are using, substitute values clearly, and show intermediate calculations. Even if your final answer is wrong, clear work can earn substantial partial credit.
Label your written-answer work with part numbers
Each written-answer problem has multiple parts (a, b, c, etc.). Clearly label each part in your response. Graders process many exams quickly and clearly organized answers are easier to give full credit.
Pace the multiple-choice section aggressively
Finish the multiple-choice questions with enough time left for the written-answer section. Many candidates spend too long on difficult MC questions and then rush through written answers where partial credit is available.
Practice with SOA released problems
The SOA publishes past written-answer problems with model solutions. Study the model solutions to understand the expected level of detail and the scoring rubric approach.
Manage the 4-hour exam duration
LTAM is 4 hours long. Plan a protein-rich meal 2 hours before. Bring a quiet snack if permitted by your testing center. Mental fatigue in hour 4 is real and causes avoidable mistakes.
After the exam
Multiple-choice results appear on screen. Written-answer results take longer to grade. The combined score determines pass or fail. If you do not pass, the detailed feedback from both sections guides your future study.