Joshua O'Brien passed ALTAM with a 10 this spring, and he learned a lot along the way! In this article, he shares the study approach that worked, the habits he'd change, and the dos and don'ts every future candidate should know.
I took ALTAM this past sitting (Spring 2026) and passed with a 10. Here are some general thoughts and advice that I wish I knew beforehand!
My Study Approach: What Worked and What Did Not
I started studying immediately after FAM results came out, so I had a little more than 3 months of preparation. If I could go back, I would have given myself 4 months. There is less overall material than FAM, but the difficulty increase is noticeable.
I allocated around 40 days to the Coaching Actuaries Practice phase. I tend to go through the Learn material slowly, so my first week of Practice was just reviewing my notes and reattempting each written answer question in Learn. If I could go back, I would have mixed up my review more. For instance, I would have reviewed Chapters 1 and 2 while learning Chapter 7.
For Practice, I attempted 1-question quizzes in each topic until I felt confident. At first, each question took much longer than allocated, but after a few attempts I built speed. I started taking mock exams in the final 2 weeks, where my main goal was improving my time management under pressure.
You most likely will not have the same strategy as me, but make sure you have some plan going in.
Dos and Don'ts for Future Candidates
My experience was a little jumbled on exam day. I forgot my ID, so I had to drive home and start late. Even if this is your fifth or sixth exam, it never hurts to set up everything you need the night before. My Excel file was corrupted (you have to download the backup file they provide), and as soon as I opened Question 1, I realized it asked for a formula I had forgotten.
Despite the shaky start, I had a defined plan for question order, which helped me get back on track. Each exam usually has a pension problem, so I liked to attempt that one first since it took me longer than other question types. Then I would go to the embedded option problem. You most likely will not have the same strategy as me, but make sure you have some plan going in.
A few dos and don'ts helped me get there:
Do
- Understand concepts instead of memorizing. This exam is unique, and you may need to derive a formula on the fly instead of simply writing it down. If you understand how formulas are derived, you can adapt to different questions and you’re less likely to be surprised on exam day.
- Incorporate Excel into your practice early. I love my TI-30XS Multiview, but using Excel as your calculator saves time and helps prevent mistakes. At first, using Excel might take more time on certain problems. With practice, you'll be able to solve problems using only Excel, and then write the most important parts in your solution (I'd recommend it for Defined Benefit, Embedded Options, and Joint Life problems).
- Maximize partial credit opportunities. Even if you are clueless on a problem, make sure you write something down. For a quantitative problem, this could be writing down formulas or a short blurb about how you would attempt it. For qualitative problems, make sure you choose a definitive answer and defend your point, even if you are not fully confident.
Don't
- Expect to understand each topic on your first try. Some topics are harder than others, and at some points I felt like I would never understand them to an exam level. Topics like UDD-ASDT/MDT relationships, embedded options, and corridor factors took a long time on my first pass. With enough practice and review, I gained enough confidence to be exam-ready for these topics as well.
- Get caught up on a tricky question or part for too long. One of the hardest parts of this exam is the time crunch. If you are not making progress on a problem, or you can't get an answer to match, it may be a good idea to keep moving forward. You can use the values they provide on subsequent parts and not lose additional points.
My Final Takeaways
Time management is extremely important for ALTAM, so give yourself plenty of time to learn the material and have a time strategy on exam day. Learn Excel early on and figure out where it saves time for you. And remember, you do not need to ace each question to pass. Try to pick up partial credit wherever possible by writing formulas and leaving nothing blank. Best of luck with your studies!
Remember, you do not need to ace each question to pass. Try to pick up partial credit wherever possible.
About the Author
Joshua O’Brien is a recent graduate from the University of Massachusetts Amherst with a dual degree in finance and mathematics. An avid lover of math since a young age, he intends to pursue a career as an actuary and to date has passed Exam P, FM, SRM, FAM, and ALTAM. This summer, he will be starting his career at The Cigna Group as an actuarial senior analyst.