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Episode 9 of the Exam FM season, and the close of the Loans block. Loans almost never divide evenly, so the last payment has to be odd-sized — smaller (a drop) or larger (a balloon). Then refinancing, which carries the cleanest trap in this topic: a convention the SOA wrote down in advance, in one sentence, that most candidates have never read.

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AI-generated podcast — the hosts and voices are synthetic, not real people. Made with AI by Demades.

Episode 8 of the Exam FM season. Every loan payment does two jobs at once: it pays rent on the money you still owe, and whatever survives that rent is the only part that actually reduces the debt. This episode gives you the intuition for why the split shifts across the life of a loan — and the pattern hiding inside it that makes a whole family of questions fast.

AI-generated podcast — the hosts and voices are synthetic, not real people. Made with AI by Demades.

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Episode 7 of the Exam FM season. A loan is an annuity seen from the other side of the table — so the amount you owe partway through is just that annuity re-priced at a later date. This episode gives you the two ways to price it, why they can never disagree, and how to read a problem stem to pick the one that makes the question fast.

AI-generated podcast — the hosts and voices are synthetic, not real people. Made with AI by Demades.

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Episode 18 of Exam P Explained — the season finale. Concept audio for SOA Exam P candidates, structured around the official syllabus.

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Episode 6 of Exam FM Explained — concept audio for SOA Exam FM candidates, structured around the official syllabus. This one closes the annuities block (episodes 3–6).

AI-generated podcast — the hosts and voices are synthetic, not real people. Made with AI by Demades.

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Episode 17 of Exam P Explained — concept audio for SOA Exam P candidates, structured around the official syllabus.

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Episode 5 of Exam FM Explained — concept audio for SOA Exam FM candidates, structured around the official syllabus.

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Episode 16 of Exam P Explained — concept audio for SOA Exam P candidates, structured around the official syllabus.

AI-generated podcast — the hosts and voices are synthetic, not real people. Made with AI by Demades.

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Episode 4 of Exam FM Explained — concept audio for SOA Exam FM candidates, structured around the official syllabus.

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Episode 3 of Exam FM Explained — concept audio for SOA Exam FM candidates, structured around the official syllabus.

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