Actuarial Courses
Math 342: Actuarial Problem Solving & Math 343 Actuarial Problem Solving: Financial Math
These courses are designed to specifically prepare you for the P and FM actuarial exams. Professor Johnson uses a flipped classroom methodology in which you will apply your calculus skills in the context of probability and interest theory. All graded assignments are taken online in a format very similar to the actual SOA exam. There is a pre-requisite of Calculus 3 (MATH 0201) for these courses. These courses are exceedingly demanding. Students should be prepared to spend 6-10 hours outside of class working on problems. Actuaries need to be self-motivated and creative; this is true for the actuary courses as well.
Math 333 Applied Statistics and Experimental Design In this course, you will develop your modeling skills while learning the R programming language. You will explore topics in regression, model analysis, ANOVA, hypothesis testing, and confidence intervals. This course covers many of the topics needed for the SRM actuarial exam.
MATH 0345 - Mathematical Statistics with Applications
This course is a follow-up to MATH 0333 in which you will explore advanced topics in mathematical statistics. The course will also heavily employ the R programming language. Topics include parameter estimation, model fitting, further topics in ANOVA and hypothesis testing, and the Neiman-Pearson lemma. This course satisfies the applied statistics VEE requirement for SOA membership. The course has pre-requisites of Calculus 2 (MATH 0106) and Applied Statistics (MATH 0333).
FINC 318 Advanced Managerial Finance
This course covers topics in corporate finance related to interest theory and financial instruments. You will explore risk and return, asset betas, the capital asset pricing model, net present value of cash flows, and investment decisions. This course covers some of the topics on the IFM actuarial exam and satisfies the Corporate Finance VEE requirement for SOA membership. The course has a pre-requisite of ACCT 0104, ACCT 0105, and FINC 0207. (Note that the accounting courses fulfill the accounting component of the Corporate Finance VEE requirement).
Particularly motivated students may take independent study courses covering the IFM, SRM, STAM, or LTAM exams with Professor Johnson.
The Actuarial Career Path
Much of this material was assembled using the official "Be An Actuary" web site. Please check there for the most up-to-date information. "Be An Actuary" can help you get a sense for what an actuary does, keys to success as an actuary, and the role that actuarial exams play in entering and progressing on this career path.
While a strong aptitude in mathematics is essential for persons interested in a career as an actuary, communication skills, self-motivation, and well-rounded business skills are also very important. Take the skills quiz:
Are you suited for a career as an actuary?
Further links and resources can be found on the page
Mathematical Careers in the Actuarial Field.
Sounds Interesting? If you want to give it a try, take a look at the following documents, which give you a sense of the course content. Work through the problems in
The Mathematics of Risk in order to get a taste.