่ What is an actuary?
Actuaries are professionals working in the business world. They use various problem solving skills to assess risk, including mathematical and statistical techniques, thereby helping their company to make informed and profitable decisions.
Actuary is consistently ranked among the top 5 careers in the United States, based on environment, income, employment outlook, physical demands, security and stress. Actuaries are well-paid and they control their own advancement by reaching various industry standard benchmarks; most notably, passing examinations to improve professional standing.
Actuaries provide the backbone of the insurance industry, allowing the economy to function smoothly in face of all the unexpected events which the world presents.
่ Preparing for your career while at Shippensburg
Actuaries are business people as well as mathematicians and statisticians. As such, you will require a broad liberal arts education, with an emphasis on business and mathematics. Shippensburg University is an excellent environment in which to obtain these skills.
To prepare for your career, we suggest you pursue a B.S. in mathematics with a statistics concentration and a business minor. With a thorough grounding in calculus, statistics, finance, general business and liberal arts, you will possess a skill set uniquely suited to actuarial work. A suggested course schedule appears later in this package.
่ Professional
Requirements
VEE and Actuarial Exams
Various benchmarks must be passed to
become a certified actuary.
These include VEE (Validation by Educational
Experience) and actuarial examinations, as well as other forms
of professional development.
VEE requirements can be satisfied by
achieving a B- or better in approved college course sequences. All three VEE
certifications are available at Shippensburg: VEE Economics
(ECO101 - Principles
of Macroeconomics and ECO102 - Principles of Microeconomics
or ECO113 Principles of Economics), VEE Accounting and
Finance (ACC200 Fundamentals of Financial Accounting,
FIN311 - Financial Management and FIN313 Advanced
Financial Management) and VEEMathematical Statistics
(MAT486 Mathematical Statistics). VEE requirements
can also be satisfied by passing standardized tests.
Along with the VEE requirements, there
are the actuarial exams and other requirements such as online
coursework. These
achievements determine advancement in the profession. The more you
complete, the higher your standing.
The Probability and Financial
Mathematics are accessible to upper-class undergraduates. Shippensburg has
courses covering the material for these three exams:
MAT476/MAT486 for Probability and MAT483 for Financial
Mathematics. Shippensburg also covers material for the
Statistics for Risk Modeling exam in MAT317.
Probability
Exam Schedule: The probability exam is currently
offered 6 times per year, in September, November, January,
March, May, and July. Deadlines
for registration are approximately 6 weeks in advance of the
exams dates. The
exam fee is currently $225.
Financial
Math Exam Schedule: The
financial math exam is currently offered 6 times per year, in
October, December, February, April, June, and August. Deadlines for
registration are approximately 6 weeks in advance of the exams
dates. The exam
fee is currently $225.
Statistics
for Risk Modeling Exam Schedule: This exam is
currently only offered in September. Deadlines for
registration are approximately 6 weeks in advance of the exams
dates. The exam
fee is currently $260 for students.
่ Further
Information
For more information about being an
actuary and the professional requirements, please visit the
following websites:
-
http://webspace.ship.edu/pttaylor/ActuaryHandbook.pdf
- Shippensburg actuary preparation handbook
-
http://www.beanactuary.org/
- An excellent, broad resource.
Includes exam schedules, sample exams, VEE information
and more.
-
http://www.soa.org/
- Society of Actuaries professional organization
-
http://www.casact.org/
- Casualty Actuarial Society professional organization
-
http://www.prometric.com/SOA/default.htm
- List of test centers (click Locate a test center).
-
http://www.casact.org/admissions/syllabus/exam1.pdf
- Probability exam syllabus
-
http://www.casact.org/admissions/syllabus/exam2.pdf
- Financial mathematics exam syllabus
-
For information regarding the
Shippensburg program, please contact Dr. Taylor (pttaylor@ship.edu), Dr.
McNichols (dtmcni@ship.edu)
or Dr. McGivney (kgmcgi@ship.edu).
Suggested Course Schedule
่
|
Fall |
Spring |
First Year |
HCS100 - Human Comm UNIV101 - First Year Seminar 1 or 2 Gen Ed Electives |
ENG114 Academic Writing HIS105 World History I MAT212 Calculus II MAT225 Discrete Mathematics ECO113 Principles of
Economics |
Second Year |
MAT213 Calculus III MAT318 Elem. Linear Algebra CSC110 Computer Science I ACC200 Fund. of Financial
Accounting Gen Ed Elective |
MAT320 Intro to Abstract
Algebra MAT217 Statistics I FIN311 Financial Management 2 Gen Ed Electives |
Third Year |
One of
MAT476 Probability*
Or MAT483
Math Theory of Interest * FIN312 Investments MKT205 Principals of
Marketing 2 Gen Ed Electives |
MAT441 Real Analysis One of
MAT486 Math. Statistics*
Or MAT317
Statistics II* FIN313 Adv. Financial
Management 2 Gen Ed Electives |
Fourth Year |
One of
MAT476 Probability*
Or MAT483
Math Theory of Interest * MAT326 Mathematical Modeling One of
MAT4xx Elective***
Or Gen
Ed Elective 2 Gen Ed Electives |
One of
MAT486 Math. Statistics*
Or MAT317
Statistics II* MGT305 Organizational
Behavior One of
MAT4xx Elective***
Or Gen
Ed Elective Gen Ed Elective Free Elective |
* MAT476/486 and MAT483 are offered in
alternating years. MAT317 is offered every year.
*** recommended electives are MAT410 Numerical
Analysis, MAT322 Differential Equations, MAT219 Data Science
I, and MAT319 Data Science II.