200+ Free SOA ALTAM Practice Questions

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In a select life table, why is q_[x] typically less than q_x for the same attained age?

Recent underwriting tends to remove higher-risk lives from the newly selected group

Select tables assume a higher interest rate than ultimate tables

Select mortality rates include lapse but ultimate rates do not

Ultimate rates ignore attained age

to track

2026 Statistics

Key Facts: SOA ALTAM Exam

Official Questions

SOA Spring 2026 intro note

Total Points

SOA

3 hrs

Time Limit

SOA

6-10

Passing Grades

SOA 0-10 scale

$500

Standard Fee

SOA fee table

Content Domains

SOA 2026 syllabus

SOA ALTAM is a 3-hour written-answer exam with 6 questions worth 60 points total. The Spring 2026 syllabus uses 7 weighted domains, led by Premium and Policy Valuation for Long-Term State-Dependent Coverages at 12-20%, while most other domains carry 10-20% or 10-18% ranges. SOA reports results on a 0-10 scale, and grades of 6 to 10 are passing. As of March 11, 2026, the official ALTAM updates page showed no exam-specific content changes.

Sample SOA ALTAM Practice Questions

Try these sample questions to test your SOA ALTAM exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 200+ question experience with AI tutoring.

1In a select life table, why is q_[x] typically less than q_x for the same attained age?

A.Recent underwriting tends to remove higher-risk lives from the newly selected group

B.Select tables assume a higher interest rate than ultimate tables

C.Select mortality rates include lapse but ultimate rates do not

D.Ultimate rates ignore attained age

Explanation: Recent underwriting tends to remove or postpone higher-risk lives from the newly selected group. Ultimate rates reflect the broader population after the selection effect has worn off.

2A 2-year select table has q_[50] = 0.010 and q_[50]+1 = 0.015. What is the probability that a newly selected life age 50 survives the first 2 years?

A.0.96500

B.0.97515

C.0.98500

D.0.99000

Explanation: Survival through 2 years is p_[50] times p_[50]+1 = (1 - 0.010)(1 - 0.015). That gives 0.99 times 0.985 = 0.97515.

3A 2-year select table has q_[40] = 0.005, q_[40]+1 = 0.007, and ultimate q_42 = 0.010. What is the probability that a newly selected life age 40 dies within 3 years?

A.0.012000

B.0.021845

C.0.028000

D.0.978155

Explanation: First find the 3-year survival probability: (1 - 0.005)(1 - 0.007)(1 - 0.010) = 0.978155. The death probability within 3 years is 1 - 0.978155 = 0.021845.

4In a 2-year select table, which mortality rate applies to a life selected at age 60 after surviving 3 full years?

A.q_[60]

B.q_[60]+1

C.q_62

D.q_63

Explanation: After the 2-year select period ends, the table reverts to ultimate rates based on attained age. A life selected at 60 and observed 3 years later is age 63, so q_63 applies.

5Which statement best describes the Markov property in a multi-state model?

A.Future transition behavior depends only on the current state, not on the path used to reach it

B.All transition intensities must be constant over time

C.Occupancy probabilities are identical for all starting states

D.No transition can occur more than once

Explanation: The Markov property says the current state is sufficient to describe future evolution. It does not require constant intensities, identical probabilities, or one-time-only transitions.

6A discrete-time model has states Active, Disabled, and Dead with 1-year transition matrix rows: Active: 0.85, 0.10, 0.05 Disabled: 0.20, 0.60, 0.20 Dead: 0.00, 0.00, 1.00 What is the 2-year probability of moving from Active to Dead?

A.0.1125

B.0.1500

C.0.1875

D.0.2500

Explanation: Use the Active-to-Dead entry of P^2: 0.85(0.05) + 0.10(0.20) + 0.05(1) = 0.1125. This adds all 2-step paths ending in Dead, including dying in the first year.

7In a continuous-time Active-Disabled-Dead model with possible recovery, which is the correct forward equation for p_AA'(t)?

A.p_AA'(t) = p_AA(t)(mu_AD + mu_AX) + p_AD(t)mu_DA

B.p_AA'(t) = -p_AA(t)(mu_AD + mu_AX) + p_AD(t)mu_DA

C.p_AA'(t) = -mu_DA p_AA(t) + mu_AD p_AD(t)

D.p_AA'(t) = mu_AX p_AA(t)

Explanation: Probability leaves state A through its outgoing intensities and re-enters A through recovery from D. That gives a negative term for exits from A and a positive term p_AD(t)mu_DA for returns to A.

8In a continuous-time Healthy-Disabled-Dead model, the only transitions out of Healthy are mu_HD = 0.04 and mu_HX = 0.01. Starting healthy, what is the probability of remaining healthy for 5 years?

A.0.6065

B.0.7500

C.0.7788

D.0.9500

Explanation: The total force of exit from Healthy is 0.04 + 0.01 = 0.05. So the probability of no exit over 5 years is exp(-0.05 times 5) = exp(-0.25) = 0.7788.

9In a no-recovery Healthy-Disabled-Dead model, mu_HD = 0.04, mu_HX = 0.01, and mu_DX = 0.10. Starting healthy, what is the probability of being disabled at time 5?

A.0.0848

B.0.1378

C.0.2212

D.0.3935

Explanation: With no recovery, p_HD(t) = mu_HD * (exp(-0.05t) - exp(-0.10t)) / (0.10 - 0.05). At t = 5 this equals 0.04 times (exp(-0.25) - exp(-0.50)) divided by 0.05, which is about 0.1378.

10For any fixed time t in a finite-state model and a given starting state, the occupancy probabilities across all states must sum to:

A.0

B.1

C.the expected number of transitions by time t

D.the force of interest

Explanation: At any time t the life must be in exactly one state of the model. Because the states are exhaustive and mutually exclusive, their occupancy probabilities sum to 1.

About the SOA ALTAM Exam

The SOA Advanced Long-Term Actuarial Mathematics (ALTAM) exam is an advanced ASA-pathway written-answer exam covering contingent payment models, long-term state-dependent coverages, joint-life benefits, profit testing, pensions, universal life, and embedded product options.

Assessment

Computer-based written-answer exam at Prometric: 6 questions worth 60 points total, with 5 answered in a booklet and 1 answered in Excel

Time Limit

3 hours

Passing Score

Grade of 6 or higher on SOA's 0-10 scale

Exam Fee

$500 (Society of Actuaries (SOA) / Prometric)

SOA ALTAM Exam Content Outline

10-20%

Survival Models for Contingent Cash Flows

Select and multi-state survival models, transition probabilities, occupancy probabilities, and actuarial present values for contingent cash flows.

12-20%

Premium and Policy Valuation for Long-Term State-Dependent Coverages

Equivalence and valuation methods for long-term coverages with state-dependent premiums, benefits, reserves, and expense adjustments.

8-16%

Joint Life Insurance and Annuities

Joint-life, first-to-die, last-survivor, and contingent or reversionary benefit valuation for multiple-life statuses.

10-20%

Profit Analysis

Profit signatures, expected present value of profit, source-of-earnings analysis, and sensitivity to mortality, lapse, expense, and interest assumptions.

10-18%

Pension Plans and Retirement Benefits

Defined benefit formulas, accrued liabilities, normal costs, early and deferred retirement values, and plan funding mechanics.

10-18%

Universal Life Insurance

Account-value rollforwards, credited interest, cost-of-insurance charges, death benefit options, and surrender-value mechanics.

10-18%

Embedded Options in Life Insurance and Annuity Products

Variable annuity guarantees, option-like payoff structures, policyholder behavior, and the main drivers of guarantee cost.

How to Pass the SOA ALTAM Exam

What You Need to Know

Passing score: Grade of 6 or higher on SOA's 0-10 scale
Assessment: Computer-based written-answer exam at Prometric: 6 questions worth 60 points total, with 5 answered in a booklet and 1 answered in Excel
Time limit: 3 hours
Exam fee: $500

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

SOA ALTAM Study Tips from Top Performers

1Build one formula map that links select-life and multi-state transition probabilities to occupancy probabilities, contingent payments, and reserves.

2Use timeline sketches for joint-life, pension, and universal-life questions so you separate event timing from valuation mechanics before calculating.

3Practice profit-analysis questions by identifying the source of gain or loss first, then tying it back to the pricing assumptions that produced the expected profit signature.

4For universal life and embedded guarantees, work from account rollforwards and payoff definitions instead of memorizing isolated formulas.

5Train in written-answer style near the end of prep: show setup cleanly, state assumptions, and use Excel only where it actually saves time.

Frequently Asked Questions

How many questions are on SOA ALTAM?

The Spring 2026 ALTAM introductory study note says the exam has 6 written-answer questions worth 60 points total. Each question can have multiple parts, and partial credit is available.

How is the ALTAM exam delivered?

ALTAM is administered at Prometric as a computer-based written-answer exam. Candidates see the questions on screen, answer 5 questions in a booklet, and complete 1 question in an Excel workbook that also contains tables and formulas.

What score do you need to pass SOA ALTAM?

SOA reports grades on a 0-10 scale, and grades from 6 to 10 are passing. The SOA does not publish a fixed raw percentage because the pass mark is set for each sitting.

Which ALTAM topics matter most?

The largest official weight range is Premium and Policy Valuation for Long-Term State-Dependent Coverages at 12-20%. Survival Models and Profit Analysis each carry 10-20%, while Pension Plans, Universal Life, and Embedded Options each carry 10-18%. Joint Life Insurance and Annuities is still meaningful but has the lightest range at 8-16%.

What changed for ALTAM in 2026?

As of March 11, 2026, the official ALTAM updates page did not list any exam-specific content updates. The practical 2026 items candidates should track are the current $500 fee and the 2026 sittings scheduled for April 21 and October 21.

What prior knowledge does ALTAM assume?

The official SOA ALTAM study page says prior knowledge from the Fundamentals of Actuarial Mathematics (FAM) exam is assumed. That means life contingencies, survival models, and premium-reserve basics should already be comfortable before you focus on ALTAM's advanced extensions.