Exam INV 201 Details

Completing the INV 201 course requires passing an exam. Below we’ll lay out everything you need to know for the exam from registration details, to exam day, to what to do after you receive your results.

Prerequisites

There aren't any formal prerequisites for INV 201, but it's recommended that you complete all ASA-level exams and INV 101 before attempting INV 201.

Some background from preliminary exams or modules can be helpful when studying for INV 201. We understand that students come from diverse backgrounds, so we’ve included a Prerequisite Refresher section with all the relevant foundational content as part of our course. We recommend starting there before diving into the main INV 201 material.

Exam Offerings

The exam for INV 201 is offered 3 times per year (March, July, November).

Exam Format

Written-answer questions worth a total of 50 points, to be answered on paper and in Microsoft Excel

Exam Duration

3 hours

Registration Info

Exam Day and Results: Things To Keep In Mind

Don't forget your must-haves for exam day! Know what to bring and what to do after you pass the exam

What to Bring

A government-issued photo ID that includes a signature

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A reference to your five-digit candidate ID (for exam submission)

Exam Results

Results will be released on the SOA website about 4 weeks after each testing window ends. Shortly thereafter, you will find your course score on your official SOA transcript.

Passing the Exam

INV 201 is one of two "sequenced courses" of the 4 technical courses you need to complete to get your FSA designation, with the other two being "additional courses". Complete INV 101 to meet the sequenced courses requirement in the Investment practice area. If you are completing sequenced courses from a different practice area, INV 201 counts as one of the two additional courses.

Expert Tips: Helpful insights from our coaches

Our coaches know this exam inside and out. Check out their expert tips for achieving a passing score.

A big part of passing a written-answer course is to accumulate as many partial credit points as possible. Even if you can't fully answer a question, clearly communicate your thought process as much as possible. Be sure to show your work. Include all important steps or formulas.
Derek Koster Video Instructor
This course covers a broad range of material, so it’s important to study with purpose. On your first read through the manual, focus on grasping the key ideas rather than all the details. Use the end-of-section summaries to highlight what’s important, then reinforce your understanding with the Concept Checkers. Repeating this approach for each section will help you learn the material more effectively.
Tong Teh President
Time management is key. This 3-hour course includes 2.5 hours of core testing time and 30 minutes of flexible time to use as you see fit. For optimal performance, aim to spend approximately 3 minutes per point (150 minutes for all 50 points). If you encounter a question you're unsure about, don't leave it blank. Instead, to the best of your ability, write down the relevant formulas, outline your solution approach step-by-step, show any partial calculations you can complete, and explain your reasoning briefly.
Terence Chow VP of Product