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.

How hard is Exam P? If you are willing to put in the effort and learn how to study for Exam P properly (which I teach in the Actuary Accelerator Community) then you won't find Exam P that hard. It's all about proper preparation for the exam. Unfortunately, less than 50% of candidates pass each sitting.

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.

It makes sense for actuarial examinations to have very high standards. And actuaries are paid very well, while having prestigious, comfortable jobs, with low stress levels, and no unemployment. There has to be a catch, and the catch is: it is hard, very hard, to become a fully qualified professional actuary.