Balancing work with the demanding preparation for actuarial exams from the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS) can feel overwhelming. But with a smart, flexible study plan, you can navigate this challenge effectively. The key is to build a strategy that fits your unique schedule, leverages your strengths, and adapts to your progress. Here’s a practical, step-by-step guide to help you build an effective actuarial study plan that balances both SOA and CAS exams alongside your work commitments.

Start by understanding the exam landscape. The SOA and CAS exams cover different specialties—SOA focuses more on life insurance, health benefits, and pensions, while CAS dives into property and casualty insurance. Despite these differences, the early exams share common topics like Probability (Exam P) and Financial Mathematics (Exam FM), which means you can often overlap your study efforts initially[3]. This overlap is a great place to save time and reduce stress.

Next, set clear, realistic goals. Break your ultimate goal—passing the exams and earning your credential—into manageable milestones. For example, aim to complete one preliminary exam at a time before moving to advanced topics. Track your progress with a study hours tracker, which helps ensure that your time is focused and productive. The actuarial societies recommend roughly 100 hours of study for every hour of exam content, so for a typical 3-hour exam, expect around 300 hours of prep[7]. Break these hours down weekly to fit around your work schedule.

Create a detailed study schedule tailored to your work commitments. Start by listing your weekly work hours and identifying consistent free time blocks. Early mornings, lunch breaks, or evenings can become dedicated study sessions. For instance, you might allocate 1–2 hours every weekday evening and a few hours on weekends. Include buffer periods to accommodate work emergencies or personal time. Remember to alternate subjects to keep your brain engaged and avoid burnout—mix a math-heavy topic one day with review or practice questions the next.

Use quality study materials and resources specifically designed for SOA and CAS exams. Many candidates swear by platforms like Coaching Actuaries, which offer video lessons, practice problems, and customizable study schedules tailored to your exam date[6]. Access official syllabi and sample questions from SOA and CAS websites to understand exam formats and key concepts thoroughly[8][2]. These resources ensure you’re not wasting time on irrelevant material and help you focus on what’s tested.

Incorporate active learning techniques into your study sessions. Instead of passively reading, solve practice problems under timed conditions to simulate the exam environment. Regularly revisit challenging topics and explain concepts aloud or teach them to a study buddy—this reinforces understanding and retention. For example, if you struggle with probability distributions for Exam P or loss models for CAS exams, dedicate extra time to these topics and seek out additional exercises until they feel manageable.

Maintain flexibility and monitor your progress consistently. Life and work can throw curveballs, so be ready to adjust your plan without guilt. Use your study tracker not just to log hours, but to reflect on what’s working. If you notice diminishing returns studying late at night, shift to morning sessions. Celebrate small wins, like mastering a difficult topic or improving your practice test scores, which keep motivation high.

Finally, prioritize self-care to sustain your study momentum. Balancing work and exam prep is a marathon, not a sprint. Schedule breaks, physical activity, and downtime to prevent burnout. On exam day, use relaxation techniques like deep breathing or short meditation to stay calm and focused[4]. Remember, consistent, focused study beats last-minute cramming every time.

Building an actuarial study plan that balances SOA and CAS exams with work requires discipline, but also kindness to yourself. By understanding the exam requirements, setting clear goals, leveraging quality resources, and staying flexible, you can make steady progress without sacrificing your well-being. Many successful actuaries have walked this path before you, and with a smart plan, you’ll be well on your way to joining their ranks.