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Candidates have three hours to complete the exam.",{"name":70,"@type":61,"acceptedAnswer":71},"Are pilot questions scored, and how should candidates handle unanswered questions?",{"text":72,"@type":64},"Pilot questions are not used in scoring. 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The Financial Mathematics examination for Spring 2008 will each be given over the period Thursday, May 28 through Wednesday, June 3. The exam will be administered in most locations as a computer-based test. Details on this appear at [http://beanactuary.org/exams/cbt.cfm](http://beanactuary.org/exams/cbt.cfm) Check the Updates section of the SOA Web Site for any changes to the exam or Syllabus.  \n2. The exam will consist of 35 multiple-choice questions. Each multiple-choice question includes five answer choices identified by the letters A, B, C, D, and E, only one of which is correct. Candidates must indicate responses to each question on the computer. Candidates will be given three hours to complete the exam. At the end of three hours, the candidate may no longer respond to the questions.  \nAs part of the computer-based testing process, a few pilot questions will be randomly placed in the exam (paper-and-pencil and computer-based forms) . These pilot questions are included to judge their effectiveness for future exams, but they will NOT be used in the scoring of the exam. All other questions will be considered in the scoring. In the scoring procedure, an unanswered question is equivalent to an incorrect answer. Therefore, candidates should answer every question to maximize their scores.  \nWith the introduction of computer-based testing, a different approach to test development is being followed. Since computer-based testing will be offered over a period of a few days, multiple forms of the test are being created for use. Each candidate will receive a test form composed of questions selected from a pool of questions. Statistical scaling methods are used to ensure within reasonable and practical limits that, during the same testing period of a few days, all forms of the test are comparable in content and passing criteria. The methodology that has been adopted is used by many credentialing programs that give multiple forms of an exam.  \n3. Any changes in the Course of Reading for this exam since the publication of the Spring 2008 Basic Education Catalog of the SOA or the 2008 Syllabus of Examinations of the CAS are reflected in this Introductory Study Note and will also be posted on our Web sites.  \n4. The study notes for this exam include sample questions and solutions. The sample questions provide candidates with the opportunity to practice on the types of questions that are likely to appear on the examination. New sample questions will be released periodically or whenever the nature of the examination changes substantially.  \nFM-05-08  \n-1-  \nPrinted in U.S.A.  \n5. The following list contains all study notes for this exam in Winter/Spring 2008. Items marked with  \n\\# are new/updated for these sessions.  \nFM-05-08\\# Introductory Study Note (this study note)  \nDerivatives Markets, Errata, 2006 Second Edition, first printing, by R. McDonald  \n[http://www.kellogg.northwestern.edu/faculty/mcdonald/htm/typos2e_01.html](http://www.kellogg.northwestern.edu/faculty/mcdonald/htm/typos2e_01.html)  \nPast Exams All released exam papers, since 2000, can be found at:  \n[http://www.soa.org/education/resources/edu-multiple-choice-essay-examinations.aspx](http://www.soa.org/education/resources/edu-multiple-choice-essay-examinations.aspx)  \nFM-09-05 Exam FM Sample Questions with solutions  \nFM-09-07 Sample Questions and Solutions for Derivatives Markets  \nFM-22-05 Reviewof Calculator Functions for the Texas Instruments BA-35  \nFM-23-05 Reviewof Calculator Functions for the Texas Instruments BAII Plus  \n6. Instructions in Study Note FM-23-05 would also apply to the Texas Instruments BAII Plus Professional calculator, though additional methods may also be available.  \n7. A survey for examinations FM, M and C will be a","cbCaingdlNTQhwl9","https://ap.wps.com/l/cbCaingdlNTQhwl9","pdf",113557,"English","# Exam Administration\n## Schedule and Delivery\n## Question Format and Time Limit\n## Scoring and Pilot Questions\n# Test Development and Course Reading\n## Multiple Test Forms and Comparability\n## Changes to Reading and Updates\n## Sample Questions and Solutions\n# References and Exam Resources\n## Past Exams and Study Notes List\n## Calculators and Exam Rules\n## Seminars and Study Manuals","[{\"question\":\"When is the Spring 2008 Financial Mathematics exam administered, and how is it delivered?\",\"answer\":\"The exam runs from Thursday, May 28 through Wednesday, June 3 and is administered in most locations as a computer-based test.\"},{\"question\":\"How are the exam questions structured, and what is the time limit?\",\"answer\":\"The exam consists of 35 multiple-choice questions, each with five answer choices (A–E) and only one correct answer. Candidates have three hours to complete the exam.\"},{\"question\":\"Are pilot questions scored, and how should candidates handle unanswered questions?\",\"answer\":\"Pilot questions are not used in scoring. Unanswered questions are treated as incorrect, so candidates should answer every question to maximize scores.\"}]","Financial Mathematics - Exam FM - Introductory Study Note | PDF",1790492069]