Preparing for the SOA Exam FM and Exam P can feel overwhelming, especially with only 8 weeks to go. But here’s the good news: using spaced repetition software (SRS) strategically can transform how you study, boost your retention, and help you dominate these exams without burning out. I’ve been through the grind, and I’ll walk you through exactly how to leverage spaced repetition to make your study time as efficient and effective as possible.
First, why spaced repetition? It’s a scientifically proven technique where you review information at increasing intervals just before you’re about to forget it. This method taps into how our brains naturally retain information long-term, so you’re not wasting time cramming or endlessly re-reading notes. Instead, you’re reinforcing key concepts right when your memory is about to fade, which makes recall on exam day much easier.
To get started, pick a good spaced repetition software tool. Anki is a popular choice among actuaries because it’s free, customizable, and supports a wide range of card types—including formulas, problem-solving steps, and definitions. Other platforms like Coaching Actuaries and The Infinite Actuary also integrate flashcards and spaced repetition features tailored specifically for actuarial exams, which can save you time building your decks from scratch[2][4][5].
Once you have your tool, break down the syllabus into bite-sized chunks. FM and P cover a lot of ground—from interest theory and probability to survival models and risk management. For each topic, create cards that focus on the essentials:
For formulas, have the formula on one side and a clear explanation or derivation on the other.
For concepts, put the term or question on the front and a concise, easy-to-understand answer or example on the back.
For problem-solving steps, create scenario-based cards where the front has a question or partial problem, and the back walks through the solution process.
One practical example: For Exam FM’s topic on force of interest, make a card with “Define force of interest” on the front and the formula plus a brief explanation on the back. Then, another card could show a problem scenario asking you to calculate the accumulated value using force of interest, prompting you to recall and apply the formula under exam-like conditions[1][2].
The key with spaced repetition is consistency. Aim to study daily or at least 6 days a week, with sessions of 1 to 2 hours. During these sessions, spend the first part reviewing your scheduled flashcards, and the latter part working through practice problems. This dual approach reinforces both memory and application, which are crucial for these exams[2].
When reviewing flashcards, the software will automatically schedule each card based on how well you recall it. Cards you struggle with will show up more frequently, while those you know well will appear less often. This adaptive learning means you spend more time on your weak areas without wasting effort on material you already know. It’s like having a personal tutor who knows exactly when you need to review what[6].
Integrating timed practice into your study routine is another powerful tactic. The SOA FM and P exams allow about 6 minutes per question, so practicing under timed conditions helps you build pacing skills and reduce exam-day anxiety. Add these timed problems into your spaced repetition schedule by creating cards that require you to solve or outline steps within a set time frame. Over time, this will sharpen both your speed and accuracy[2][3].
Don’t overlook the value of reflecting on mistakes. After each practice session, review errors carefully to understand why you got a question wrong. Then, add those tricky problems back into your spaced repetition deck for extra review. This targeted focus prevents small gaps from growing into major weaknesses later on[2].
A neat trick is to customize your review sessions based on progress. Some SRS tools let you pick specific sections or topics to focus on when overwhelmed, which is great if you find certain subjects harder. For example, if you’re struggling with survival models on Exam P, you can filter flashcards to just that topic and concentrate your efforts there before moving on[6].
Statistics back this approach. Studies show learners using spaced repetition can remember up to 90% of material long-term versus much lower rates with traditional study methods[7]. For actuarial exams, where the pass rate hovers around 45-50%, anything that boosts retention and confidence is a game-changer.
Now, a personal insight: when I studied for FM, I combined spaced repetition flashcards with video lessons and practice exams. Watching a short video to understand a concept, then immediately creating a flashcard and solving practice problems solidified my grasp. This multi-modal approach kept me engaged and prevented burnout. Plus, seeing progress through SRS statistics motivated me to keep going.
In the final two weeks before your exam, ramp up your review by doing full-length mock exams under realistic conditions. Afterward, analyze your performance and plug any weak areas back into your spaced repetition deck. This cycle of testing and targeted review is the final step to ensure you walk into exam day ready and confident[3].
To sum up, here’s a straightforward plan to use spaced repetition software to dominate SOA Exams FM and P in 8 weeks:
Choose an SRS tool like Anki or an actuarial-specific platform.
Break your syllabus into small, manageable flashcards covering formulas, concepts, and problem-solving.
Study daily with focused, 1-2 hour sessions combining flashcard review and timed practice problems.
Use the software’s adaptive scheduling to focus on weaker topics.
Reflect deeply on mistakes and add them back into your deck.
Customize reviews by topic if needed to avoid overwhelm.
Incorporate full mock exams in the last two weeks, using results to guide final reviews.
Stick with this routine, and you’ll build a strong foundation, sharpen your problem-solving skills, and improve recall speed—all essential for passing FM and P. Remember, it’s not about how many hours you put in but how smart you study. Spaced repetition software is a tool that makes every minute count. Give it a shot, and you might be surprised how much progress you can make in just 8 weeks.