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
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Allianz Life Insurance
Company
Ameriprise Financial
Aon Hewitt
Assurant Health
Blue Cross Blue Shield of
Minnesota
Federated Insurance
Gross Consulting
Humana
Liberty Mutual
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Mercer
Milliman
Securian Financial Group
Target
Thrivent Financial for
Lutherans
The Travelers
Companies, Inc.
Towers Watson
United Health Group
Van Iwaarden Associates
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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??