September 20, 2012 Educational & Social Club Goals: Raise career awareness & promote Stat/Actuarial Science Major Help simplify the actuarial career path–
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Transcript September 20, 2012 Educational & Social Club Goals: Raise career awareness & promote Stat/Actuarial Science Major Help simplify the actuarial career path–
September 20, 2012
Educational & Social Club
Goals:
Raise career awareness & promote Stat/Actuarial
Science Major
Help simplify the actuarial career path– Exams,
VEE, etc.
Increase exam pass rate and exam support
Facilitate networking
Speakers
Other events
Actuary Career Fair, Thursday Oct 4th.
Bowling/Social events
•An Actuary analyzes the financial consequences of risk . They use
mathematics, statistics and financial theory to study uncertain future
events, especially those of concern to insurance and pension programs
•Generally work in insurance and consulting industry.
• Life and Health
• Property & Casualty
• Retirement & Pension
Society of Actuaries (SOA)
Life/Health/Risk
Designations: ASA, FSA, CERA
Casualty Actuarial Society (CAS)
Property & Casualty
Designations: Associate (ACAS), Fellow (FCAS)
Jointly Administered by SOA and CAS
Exam 1/P: Probability
Exam 2/FM: Financial Mathematics
Exam 3F/MFE: Models for Financial Economics
Exam 3L/MLC: Models for Life Contingencies and
Statistics
Exam 4/C: Construction and Evaluation of
Actuarial Models
Exam 1/P
STAT 3611, STAT 5571 STAT 5531
Exam 2/FM
FMIS 3601
Available Study Manuals in Math Dept. Office
What is it?
Validation by Educational Experience
▪ Corporate Finance
▪ FMIS 3601 (Corporate Finance)
▪ Applied Statistical Methods
▪ STAT 5511 (Regression)
▪ ECON 4040 (Tools: Apps for Econ Analysis)
▪ Economics
▪ ECON 1022 (Macro) & ECON 1023 (Micro)
OR
▪ ECON 3022 (Macro Analysis) & ECON 3023 (Micro Analysis)
Property and Casualty, October 2011
0-0.5 yrs
0.5-2.5 yrs
2.5-4.5 yrs
4.5-6.5 yrs
6.5-9.5 yrs
9.5-14.5 yrs
1 exam
46-65
53-67
55-72
2 exams
53-69
56-74
59-78
62-82
3 exams
54-74
59-78
65-86
68-88
72-100
4 exams
57-75
61-86
68-92
73-99
76-112
90-139
5 exams
62-90
72-106
82-114
84-126
98-150
6 exams
73-95
82-113
88-126
97-140
104-169
ACAS
81-110
89-122
90-133
100-161
118-188
8 exams
94-140
109-163
112-178
135-225
FCAS
101-154
125-182
133-224
148-340
14.5-19.5 yrs
19.5+ yrs
135-267
149-306+
175-442
177-483+
Life and Health, October 2011
0-0.5 yrs
0.5-2.5 yrs
2.5-4.5 yrs
1 exam
48-55
52-69
55-72
2 exams
52-60
55-75
60-76
64-84
58-67
58-77
61-84
67-88
58-69
59-88
65-93
72-97
75-104
65-90
68-98
76-109
82-121
74-101
76-113
84-120
96-140
103-156
3 exams
4.5-6.5 yrs
6.5-9.5 yrs
9.5-14.5 yrs
14.5-19.5 yrs
19.5+ yrs
95-144
96-156
110-224
121-228+
112-178
131-241
148-328
163-384+
(MLC+MFE=1)
4 exams
4 exams
FAP 1
ASA
FSA
Statistics is used in a wide variety of fields
Business
Health and Medicine
Government
Physical Sciences
Environment
Allianz Life Insurance
Company
Ameriprise Financial
Aon Hewitt
Assurant Health
Blue Cross Blue Shield of
Minnesota
Federated Insurance
Gross Consulting
Humana
Liberty Mutual
Mercer
Milliman
Securian Financial Group
Target
Thrivent Financial for
Lutherans
The Travelers
Companies, Inc.
Towers Watson
United Health Group
Van Iwaarden Associates
http://www.d.umn.edu/math/Actuaryclub/ind
ex.html
http://www.beanactuary.org/
http://www.soa.org/
http://www.casact.org/
http://www.amstat.org/
Questions??