INV 201: Welcome to our INV 201 course
INV 201 is the second course in the SOA’s Investment practice area and builds on the foundation you established in INV 101. This course is a key milestone for actuaries looking to develop strong quantitative skills to thrive in functions such as hedging, portfolio management, asset-liability management, and product management.
With Coaching Actuaries at your side, you will gain the clarity, structure, and support to tackle one of the most technical exams in the Investment practice area. Our INV 201 course will be available for sale in early 2026.
From Confusion to Confidence: Why Coaching Actuaries?
FSA exams can feel overwhelming, and INV 201 is no different. Our course gives you a clear structure, so you always know where to focus. You’ll learn from coaches with deep experience teaching quantitative finance concepts, practice with dynamic quizzes and exams, and track your readiness with tools like Mastery Score® and self-graded assignments.
Expertise You Can Trust
INV 201 is taught by Dr. Ambrose Lo, an experienced instructor with extensive experience teaching derivative pricing and financial economics. He has received multiple teaching awards and authored a derivative valuation textbook that aligns closely with the exam. Coaching Actuaries also developed the official Guided Examples for INV 201 for the SOA.
A Familiar and Supportive System
INV 201 demands efficient study, so we keep you focused on what matters most. Our Concept Checkers reinforce the essentials while Coach’s Remarks help you navigate tricky ideas and understand how topics fit together. Streamlined lessons cut the noise, and our CheckPoints scheduler keeps you on track while preventing burnout.
Designed to Maximize Your Time
INV 201 contains more mathematical demand than most FSA-level exams. We help you navigate that difficulty efficiently. Concept Checkers reinforce key ideas. Coach’s Remarks guide you through tougher spots and connect the dots along the way. Lessons are organized to ensure you never feel lost or overwhelmed.
Here to Support You: Meet Your Coaches
With strong subject knowledge and a passion for teaching, our coaches are here to help you confidently tackle INV 201. Their guidance shapes every lesson—so you’re never left guessing. Our coaches also answer questions on the discussion boards within two business days.
The INV 201 team is led by Dr. Ambrose Lo, FSA, CERA, an Adjunct Associate Professor at the University of Hong Kong and the author of several respected actuarial study manuals.
- Ambrose Lo
- Tong Teh
Aspiring Actuary Testimonials: A Word From Our Students
There’s no better proof than a happy student. After each exam, we follow up to hear about your success and collect your feedback. Your input ensures your experience here is always improving!
I’ve really enjoyed using the Coaching Actuaries materials for CP351. The manuals are exceptionally thorough, with clear numerical examples and graphs that make the concepts much easier to understand.
WJ CP 351 Student
Honestly, CA is the only resource you need to succeed on the exam. It overwhelmingly prepares you for the exam.
Kyle Exam P student
What You Learn: Building on Your Foundation
As the second course in the Investment practice area, INV 201 helps you build the quantitative and analytical skills needed to understand, value, and apply derivatives in real-world financial settings. The exam focuses on three core domains central to mathematical finance.
Building Blocks of Derivatives
Develop a clear understanding of the most common derivative instruments, including forwards, futures, swaps, and options. You will examine their structures, how they function in financial markets, and why institutions use them to manage risk exposures.
Foundations of Derivative Valuation
Learn the principles and techniques used to determine the fair value of derivative contracts. You will work through models such as binomial trees and the Black Scholes framework, and you will explore more advanced mathematical topics such as stochastic calculus.
Strategic Applications in Modern Finance
Explore how derivatives are applied in practice to manage financial risks, construct investment strategies, and support asset liability management. You will examine hedging strategies and the various risks that derivatives can introduce when used in real-world settings.