The University of Akron Department of Statistics Actuarial Science Program Becoming an Actuary Quick Overview Aug 29, 2018 Nao Mimoto, Ph.D. https://www.uakron.edu/statistics/actuarial-science/
What Does Actuary Do? Underwriter for Various Insurance Company Models and Measures Risk, Determines the price of various insurance products. Roll are expanding into non-traditional risk managements.
How to become an Actuary Bachelor s Degree in AS, Statistics, Math, Finance, etc. Passing Exams P and FM will make you very marketable for entry-level positions. Internships are very important http://beanactuary.com/ https://www.uakron.edu/statistics/actuarial-science/
SOA 5 prelim exams to be an Associate To Become an Associate of SOA Exam P Probability Exam FM Financial Mathematics Exam MFE Models for Financial Economics Exam MLC Models for Life Contingencies Exam C Construction and Evaluation of Actuarial Models VEE Economics* VEE Corporate Finance* VEE Applied Statistics* FAP e-learning course APC course * All VEE courses can be taken at UA
SOA to be Fellow (Takes 6-10 years to complete after graduation) Every track requires
CAS 7 Prelim Exams to Become an Associate Same as SOA exam https://www.casact.org/admissions/process/
CAS or SOA? Major Types of Actuary Life/Health Property & Casualty Pension/Retirement Other SOA CAS SOA i.e. Depends on your line of work as an actuary. First 3 exams are the same you don t have to choose for now.
Actuarial Science Program at UA BS in Statistics Actuarial Science Option Take as many Statistics course as you can Try to pass 2 Exams before the graduation Great Job Placement Rates https://www.uakron.edu/statistics/actuarial-science/
Why Actuary Get Paid a lot Unique combination of skills Probabilistic Calculation Statistical Analysis with Data Business Understanding Actuary Computational Skill (Excel, R, SAS) Financial Knowledge
Major in Statistics Actuarial Science Option Knowledge of Stats are essential to be a good Actuary Gives you more career options later on Take as many Stats courses as you can! Take business elective (Insurance) early Join Gamma Iota Sigma (Student organization)
How to Find Internship Best to apply individually https://www.uakron.edu/statistics/actuarial-science/
VEE requirements Completing BS-Stats AS option will automatically fulfill all VEE requirements. Economics Accounting and Finance Mathematical Statistics VEE Math Stats - (452) VEE Econ - (3250:244 Intro Econ) or (201 and 202) VEE Accounting and Finance (6200:201 and 6400:301). If you follow Stats AS option course requirements, all VEE requirements will be satisfied.
Stats - AS option Course Flow (After Summer 2018) 3450:221 Calc I 3450:222 Calc II Freshman/Sophomore 3450:223 Calc III Summer 451 (Fall) Theo Stat I (Ex. P) Junior 452 (Spring) Theo Stat II (VEE) Summer Senior 495 Statistical Consulting 472 (Spring) Actuarial Models (formerly AS II) (Ex. STAM) 3460:209 Comp. Sci. I 3250:244 Intro to Econ (Or 201/202) (VEE) 461 (Fall/Spring) Applied Statistics (or 261/262 Intro ) 471 (Fall) Inter Theo for Act Sci (formerly AS I) (Ex. FM) Apply for Internship Take and pass Exam FM Internship! 480 (Fall) Data Mgmt. (Register Early!) Apply for Internship Take and pass Exam P 462 (Spring) Reg. and ANOVA (Ex. SRM) 477 (Spring) Time Series (Ex. SRM) Internship! 4xx Stats Elective (Decision Tree? Spring) (Ex. SRM) Stats Core requirement 6200:201 Accounting 6400:301 Pri. of Finance (VEE) One of 6400: 414 Risk Mgmt: Prop. & Casu. 415 Risk Mgmt: Life & Health 343 Investment AS requirement Stats Course (3470) Graduation!! AS major web page: www.uakron.edu/statistics/actuarial-science/
UA Alumni works at places like: Key Bank Huntington Progressive Aon Erie Insurance Charles Schwab Transamerica
Core Stats Course Requirements 3450:221,2,3 Calc I, II and III 3460:209 Computer Science I 461 App Stat (or Intro Stats I and II 261/262) 451,452 Theoretical Stat I, II 462 App Regression and ANOVA (Spring, VEE stats) 480 Data Management (Fall) 495 Statistical Consulting
AS Option Requirements 3250:244 Intro to Econ or (Macro and Micro 201/202)(VEE:econ) 6200:201 Accounting Principles I (VEE) 6400:301 Principles of Finance (VEE) 6400: one of 414 Risk Management: Property, 415 Risk Management: Life, 343 Investments 471 477 4xx Actuarial Science I, II Time Series (Spring) (VEE: stats) Stats elective
Contact US Department of Statistics Dr. Nao Mimoto Office: CAS 413 nmimoto@uakron.edu http://gozips.uakron.edu/~nmimoto/ https://www.uakron.edu/statistics/actuarial-science/