Actuarial Science

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Actuarial Science

• Pascals 3
• Melanie Smith, Ryan Gmerek, Nathan George

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What is an Actuary?

• Uses math to solve business and social problems
• Applies math and statistics to measure risk and
  insurance rate
• Quantifies and analyzes risk

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What is an Actuary?

• Evaluate the likelihood of problems
• Design ways to reduce problems
• Decrease the impacts of the problems

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Courses

• Curriculum
• Supply a strong general background in
• mathematics,
• statistics
• relevant concepts from actuarial science and
  business.

the curriculum in the Actuarial Science major are
to supply a strong general background in
mathematics, statistics, and relevant concepts
from actuarial science and business

• Examples
• Calculus with Analytic Geometry I,
• Microeconomics and Macroeconomics,
• Financial and Managerial Accounting,
• Business Statistics.

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Exams
Minors

• National Actuarial Examinations
• Administered by the
• Society of Actuaries
• Casualty Actuarial Society.
• Test Contents
• Limits
• Derivatives
• Integrals
• Parameterized curves.

• Statistics
• Mathematics
• Computer Science

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Job Entry Requirements

• Strong mathematic background
• Bachelors Degree
• Math
• Actuarial Science
• Statistics
• Passing of actuarial exams
• Additional training
• Technical skills
• Liberal arts
• Communication

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Employers of Actuaries

• Insurance companies
• State Farm
• AllState
• Geico
• Consulting firms
• IBM Global Services
• Booz Allen Hamilton
• Commercial banks
• CitiGroup
• Bank of America
• Wachovia

• Investment banks
• Merrrill Lynch
• Salomon Smith Barney
• Morgan Stanley
• Government
• Self-employed

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Salaries (Bureau of Labor Statistics)

• Median earnings
• 76,340
• Range of 54,770-107,650
• Starting salaries
• 52,741
• Experienced Actuaries
• 150,000-250,000

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More Information

• US Department of Labor
• www.bls.gov
• CollegeGrad.com
• Smeal College of Business
• Undergraduate programs- Actuarial Science
• Wikipedia.com