Acturial Study Materials

ASM Study Manual Program for Exam FM (Last Sitting August 2022)

Introducing out new study program on Actuarial University!

Including our Study Manual, Flashcards, GOAL, Practice Tool, a full Instructional Video Library, Formula & Review Sheet, and more!


The 15th edition manual will offer the same great instruction by Hal Cherry and Wafaa Shaban but now includes tools and features to optimize your studying.  We made the best tools even better, just for you. 

About the manual:

The 15th edition of the ASM SOA Exam FM Study Manual reflects syllabus changes that are effective with the October 2018 administration of Exam FM. The most significant change is that “sinking funds” are no longer part of the syllabus. The sinking fund section has been deleted from Module 3, and the sinking fund problems in the practice exams have been replaced with new problems on other Exam FM topics. In addition, an appendix has been added presenting helpful tips on using the Texas Instruments BA II Plus (the recommended calculator for this exam).

The 15th edition of the manual has the following features:

  • The manual conforms to the syllabus updated for SOA FM exams beginning in October 2018

    • The topic of sinking funds has been removed from the syllabus

    • A new learning objective has been added requiring students to be able to calculate the present value of a set of cash flows, using a yield curve developed from forward and spot rates

  • The concepts of financial mathematics are explained in plain English, in a manner that appeals to your intuition and common sense.

  • The manual shows you tricks and shortcuts for various types of problems, warns you about common traps that students fall into, and tells you how to avoid them.

  • Over 1,000 problems with detailed solutions, about half of them from prior SOA/CAS exams and half that are original to the manual.

  • After each topic there are examples called “Stepping Stones” that are designed to tell you whether you have understood what you have just read, and to serve as a bridge to more difficult exam-level problems.

  • There is a summary of the key concepts and formulas after each topic.

  • There are 9 sets of Calculator Notes that give you detailed instructions for using the BA II Plus calculator.

  • Six original full-length (35 questions) practice exams, with complete solutions are included.

  • About 600 pages in all.

Printed manual is three-hole punched, shrink-wrapped, and notebook-ready for convenient transporting. 


CLICK HERE for errata and updates. 


Free Study Manual Trial:

  • Access via the “My Account/My Learning Tools” section of your account, visit or use our mobile app (iOS & Android). You can view material on up to 2 devices.


  • 6-month license - No Printing

  • 12-month license - Print up to 30% of the manual, total

License Extensions

  • Extensions of 3-months and 6-months are available, please contact support to purchase.

  • Extensions do not include printing rights and may not be shared, sold or overridden in any way.

Access manual from any device, anywhere

  • Online in your web browser

  • Offline via the free desktop player (PC or Mac)

  • Online/offline via mobile application (Android or iPhone)

  • Take notes & highlight content

Some restrictions apply

  • Access via “My Account/My Learning Tools” section of your account or visit

  • Single user (sharing and/or resale is prohibited)  

  • Access to content on up to four devices

  • Offline use for up to 5 days at a time

  • No returns


Resale, sharing or any other violation of copyright is not allowed. Copyright infringement is a violation of the CAS & SOA Code of Professional Conduct and can result in discipline procedures. 

Actuarial Study Materials

ASM has been helping students prepare for actuarial exams since 1983. We offer study materials for Exams P/1, FM/2, MLC, MFE/3F, C/4, S and EA-1, EA-2F and EA-2L, written by an outstanding team of authors. ASM Products are sold at ACTEX Learning | Mad River Books and The Actuarial Bookstore.