Balancing a full-time job with studying for the SOA Exam STAM (Short-Term Actuarial Mathematics) is no small feat. You’re not just juggling work and study—you’re also managing personal life, rest, and maybe even a bit of sanity. But here’s the good news: with the right strategies, it’s absolutely possible to optimize your study time, make steady progress, and walk into the exam room feeling prepared. I’ve been there, and so have thousands of successful actuaries. The key is to work smarter, not just harder, and to build habits that fit your real life, not a theoretical ideal.
Let’s get real about what it takes. You won’t have eight-hour study days. You might not even have two. But you do have pockets of time, focus, and a clear goal. The secret sauce? Intentional planning, ruthless prioritization, and a willingness to adapt. This article will walk you through practical steps, share personal stories, and give you actionable advice—no fluff, just what works.
Understanding the Challenge #
First, let’s acknowledge the numbers. Exam STAM covers a wide range of short-term insurance topics, from frequency and severity models to credibility and risk measures. It’s not uncommon for candidates to spend 300–400 hours preparing, with many experts recommending about 100 hours of study per exam hour[5]. If you’re working 40+ hours a week, that means you’re looking at three to five months of disciplined, consistent effort—assuming you can carve out 15–20 hours a week for studying.
But here’s the thing: those hours don’t magically appear. They have to be planned, protected, and used wisely. And life will throw curveballs—work deadlines, family commitments, the occasional need to just unwind. That’s why the most successful candidates don’t just study hard; they study smart.
Building Your Study Plan #
Start by working backwards from your exam date. Mark it on your calendar, then count the weeks until then. Now, break down the syllabus into manageable chunks. Don’t try to swallow the whole thing at once; instead, divide it into topics, and assign each to a specific week[1][5]. This isn’t just about covering material—it’s about giving yourself milestones to hit, so you always know where you stand.
For example, if you have 16 weeks until the exam, you might spend the first 10 weeks working through the syllabus and practice problems, the next 4 weeks taking full-length practice exams, and the final 2 weeks reviewing weak areas and doing final drills[5]. Adjust the timeline based on your own pace, but make sure you leave enough time for practice exams—they’re crucial for building stamina and identifying gaps.
Use a planner, a spreadsheet, or a digital tool like Coaching Actuaries’ CheckPoints to track your progress[1][9]. Personally, I’ve found that a simple Excel sheet with daily and weekly goals keeps me honest. Every Sunday, I’d block out my study times for the week, just like I’d schedule work meetings. If it’s not on the calendar, it’s not real.
Making Time Where There Is None #
Here’s a hard truth: if you don’t schedule your study time, it won’t happen[4]. You have 168 hours in a week. Subtract sleep, work, meals, and basic life stuff, and you’re left with a precious few. But even 10–15 hours a week, if used well, can get you across the finish line.
Look for pockets of time. Maybe it’s 30 minutes before work, your lunch break, or an hour after dinner. Maybe it’s Saturday mornings while the house is quiet. Block these times in your calendar and treat them as non-negotiable appointments. Tell your friends, your family, even your dog—these hours are for studying, period.
And don’t underestimate the power of small sessions. Two 30-minute blocks can be more effective than one marathon session, especially if you’re fresh and focused each time. The Pomodoro technique—25 minutes of focused work, 5 minutes of break—is a proven way to maintain concentration and avoid burnout[3]. I used to sneak in a Pomodoro during my commute (on the train, not while driving!), and those minutes added up.
Prioritizing What Matters #
Not all topics are created equal. Some show up on every exam, while others are rare. Use the syllabus and past exams to identify high-impact areas, and focus your energy there first[1]. For STAM, concepts like frequency/severity models, aggregate models, and credibility are almost always tested heavily. Spend extra time mastering these, and don’t get bogged down in obscure details early on.
When you hit a wall with a particular problem or concept, don’t spin your wheels. Make a note, flag it, and come back in a few days[4]. Often, things that seem impossible at first become clearer after you’ve covered related material. This approach saves time and reduces frustration.
Study Methods That Work #
Active learning beats passive reading every time. Don’t just read the manual—work problems, explain concepts out loud, teach them to a rubber duck (or a patient friend). Take notes, not just on formulas, but on why they work and how they connect to other ideas[6]. For STAM, it’s especially important to understand the intuition behind the math, since exam questions often test application, not just rote memorization.
Mix up your study methods. Some days, drill problems. Other days, review notes or watch videos. Variety keeps your brain engaged and helps you see the material from different angles[3][8]. And always, always do practice exams under timed conditions. They’re the best way to simulate the real thing and build the mental endurance you’ll need on test day.
Managing Distractions and Energy #
Let’s be honest: studying after a long workday is tough. Your brain is tired, your willpower is low, and Netflix is calling. That’s why it’s critical to create a study environment that minimizes distractions. Find a quiet spot, turn off notifications, and resist the urge to multitask[6]. Even background music can hurt retention for some people, so experiment to see what works for you.
Also, listen to your body. If you’re exhausted, a 20-minute power nap or a quick walk might do more for your productivity than forcing another hour of half-hearted studying. Schedule breaks, and use them to recharge—not to scroll through social media.
Adapting to the Unexpected #
Life happens. Work gets busy. You get sick. The dog eats your flashcards. When your plan gets derailed, don’t panic. Adjust your schedule, cut non-essentials, and focus on the highest-yield topics. It’s better to cover 80% of the material well than to rush through 100% and retain nothing.
I once had a major work project land in my lap two weeks before an exam. Instead of trying to stick to my original plan, I scaled back to just practice exams and targeted review. It wasn’t ideal, but it got me through. Flexibility is a survival skill.
Exam Day Strategy #
All your preparation leads to this. On exam day, time management is everything. Use a tiered approach: first, answer all the questions you know immediately. Mark the ones you’re unsure about, and leave the toughest for last[2]. Every question counts the same, so don’t get stuck on a hard one and miss easy points later.
If you’re running out of time, guess—never leave anything blank. And remember, the goal is to pass, not to get a perfect score. Stay calm, trust your preparation, and keep moving forward.
Personal Insights and Encouragement #
Here’s the part where I tell you it’s worth it. The discipline you build studying for STAM while working full-time will serve you for years, in your career and beyond. You’ll learn to prioritize, to focus, and to bounce back from setbacks. And when you pass, the sense of accomplishment is unbeatable.
I’ll also admit: there were days I wanted to quit. Days when the material felt impossible, when work was overwhelming, when it seemed easier to just watch TV. But I kept going, one small step at a time. And so can you.
Final Tips #
- Start early. The more time you have, the less pressure you’ll feel.
- Be consistent. Even 30 minutes a day adds up.
- Practice, practice, practice. Do as many problems and exams as you can.
- Take care of yourself. Sleep, eat well, and make time for things you enjoy.
- Celebrate small wins. Finished a tough chapter? Reward yourself.
Studying for STAM while working full-time is a marathon, not a sprint. But with a clear plan, smart habits, and a bit of grit, you can cross the finish line. And when you do, you’ll look back and realize: you’re capable of more than you thought.