Preparing for the Actuarial Exams

The best sources of information concerning becoming an actuary are

The first site is sponsored by the two major actuarial profesional organizations, SOA and CAS. You should be able to get answers to all your questions at one of these three sites.

Actuaries in the U.S. and Canada achieve professional status by passing a set of examinations prescribed by CAS or SOA. Examinations are held twice each year in the Spring and Fall.

The Economics/Mathematics degree is an excellent choice for students who wish to pursue a career as an actuary. Students can often obtain an entry level position by sucessfully completing Exam 1. Later exams are then taken while you are employed.

The syllabi for the actuarial exams can be found at http://www.beanactuary.org/exams/. The following is a list of courses at IUP that you should take to prepare you for these exams.

Exam 1-Mathematical Foundations of Actuarial Science

MATH 123/124 Calculus for Physics, Chemistry, and Mathematics
MATH 171 Introduction to Linear Algebra
MATH 216 Probability and Statistice for Natural Sciences
MATH 342 Advanced Mathematics for Applications
MATH 363/364 Mathematical Statistics

Course descriptions for the above courses can be found in the IUP catalog

Exam 2-Interest Theory, Economics, and Finance

Exam 2 covers some graduate level ideas in Finance, but the courses below will give you the background for future study to successfully complete this exam. Remember, you are not necessarily required two pass the second examination to gain an entry level position.

ECON 121 Principles of Macroeconomics
ECON 122 Principles of Microeconomics
ECON 421 Macroeconomic Analysis
ECON 422 Microeconomic Analysis
ACCT 201/202 Accounting Principles
FIN 310 Fundamentals of Finance
FIN 320 Corporate Finance
FIN 324 Principles of Investment
FIN 360 Insurance and Risk Management

Course descriptions for the above courses can be found in the IUP catalog:

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Last modified on Monday, 24-Nov-2003 21:48:09 EST