FAM: Keep a two-sided error log for short- and long-term topics
FAM covers both short-term loss models and long-term contingent payments. A single practice score can hide a persistent weakness on one side. Organise mistakes by concept and by cause, not just by question number.
Worked example or practice scenario
A useful log might record “deductible: conditioned on payment instead of loss,” “life benefit: discounted to wrong date,” and “aggregate loss: omitted frequency variance.” Each entry includes the mistaken setup, the corrected variable and one fresh check.
Try this next
Re-solve each example with new numbers after a delay, then mix topics. Use the current official full-FAM syllabus rather than an old FAM-L/FAM-S-only plan. Historical forum study plans are useful themes, but their exam structure may be obsolete.
Reading sources
ActNet editorial guide · October 1, 2026 · Original illustrative examples.