All versions of the examination are constructed to be of comparable difficulty to one another. For the January 2023 administration of Examination P, an average of 71% correct was needed to pass the exam.

Difficulty: For most people the CPA exams are easier than actuarial exams. Actuarial exams test more difficult concepts and get harder as the candidate progresses through them. Number of Exams: Actuaries need to pass 10 exams in order to be fully qualified, whereas accountants have to pass 4 exams within 18 months.

You just have to wait until the next exam sitting. Exam P and FM (the first two exams) are offered every 2 month so that's the most you'd have to wait to rewrite one of those exams. That means if you fail, you have another 2 months to get better prepared and hopefully you can pass the next time!

We all know that actuarial exams are hard. The pass rates vary from 50% on the preliminary/lower level actuarial exams, to 30% on the higher level CAS exams. I've written a short guide providing advice on how to pass actuarial exams, and also my own experiences with studying for actuarial exams.