Actuarial Pathway October 27 2017 Agenda Course Options

Actuarial Pathway October 27, 2017

Agenda -Course Options ● Classes ● Schedules ● General Advice -Career Options ● The Two Societies ● Exams and VEEs ● Careers

Course Options Scheduling Made Easy

PSTAT Classes https: //my. sa. ucsb. edu/public/curriculum/coursesearch. aspx

Progression of Classes

BS in Actuarial Science http: //www. pstat. ucsb. edu/undergrad/actuarial-science/bs

Possible Schedules

Possible Schedules (Regular Track)

Possible Schedules (Transfer Students)

Combined BS/MS in Actuarial Science http: //www. pstat. ucsb. edu/undergrad/actuarial-science/bs-ms

Possible Schedules (Grad Students)

General Advice Raya Feldman (Graduate, feldman@pstat. ucsb. edu, SH 5516) April Campbell (Undergraduate, campbell@pstat. ucsb. edu, SH 5607 B)

Questions?

Career Options Which Society and Track?

The Two Societies: SOA and CAS SOA ● ● ● Website: ○ https: //www. soa. org/ Membership Information: ○ About 28, 000 members ○ https: //www. soa. org/about/mem ber-stats-surveys/ Lines of Work: ○ Health and Benefits ○ Life ○ Retirement CAS ● ● ● Website: ○ http: //www. casact. org/ Membership Information: ○ About 6, 500 members ○ http: //www. casact. org/about/vital /2013 May. pdf Lines of Work: ○ Property and Casualty

SOA “Specialty Tracks” CAS “Practice Areas” ● Retirement Benefits ● Enterprise Risk Management ● Group and Health ● Predictive Modeling ● Individual Life and Annuities ● Ratemaking ● General Insurance ● Reserving ● Corporate Finance and Enterprise Risk Management (CFE) ● Quantitative Finance and Investment (QFI) https: //www. soa. org/future-actuaries/career-paths/ http: //www. casact. org/area/

The Two Societies: SOA and CAS Pathways https: //www. soa. org/pathway/ http: //www. casact. org/admissions/process/

Be An Actuary: http: //www. beanactuary. org/ Employment Information: http: //www. beanactuary. org/jobs/? fa=jobs-by-type-ofemployer

Exams and VEEs http: //www. pstat. ucsb. edu/undergrad/actuarial-science/exam

Links to Exam Syllabi ● Exam P/1: ○ https: //www. soa. org/Files/Edu/2017/edu-2017 -05 -p-syllabus. pdf ● Exam FM/2: ○ https: //www. soa. org/Files/Edu/2018/february-exam-fm-syllabus. pdf ● Exam IFM/3 F: ○ https: //www. soa. org/Files/Edu/2017/edu-2017 -11 -mfe-syllabus. pdf ● Exam MLC: ○ https: //www. soa. org/Files/Edu/2017/fall/edu-2017 -fall-exam-mlc-syllabus. pdf ● Exam MAS I: ○ http: //www. casact. org/cms/files/Exam_MAS-I_2018_v 20_2017_01_13_2. pdf ● Exam MAS II: ○ https: //www. casact. org/cms/files/Exam_MAS-II_2018_v 20_2017_01_13_1. pdf ● Exam 5: ○ http: //www. casact. org/admissions/syllabus/Exam 5. pdf

Exam Flowchart

General Exam Info ● How to sign up for an exam ○ Choose exam and register: https: //www. soa. org/Education/Exam. Req/Registration/edu-registration. aspx ○ Choose CBT for P, FM, MFE, C ○ Check for due dates: https: //www. soa. org/Education/Exam. Req/Exam-Day-Info/edu-2017 -cbt-testschedule. aspx ● Exam costs ○ P, FM: $225 ○ IFM (MFE): $325 ○ LTAM (MLC), STAM (C): $375 ● CAS Exams: http: //www. casact. org/admissions/syllabus/inde x. cfm? fa=exam_reg ● How to study for an exam ○ Exam manuals: April Campbell ○ Online sites: Coaching Actuaries, The Infinite Actuaries ○ Practice exams: ○ Coaching Actuaries code: UCSB 25 OFF ● Exam Scoring ○ Immediate preliminary results from CBTs ○ Official score about 12 weeks later ○ 6 -10 (pass); 0 -5 (fail) ● Pass Rates: (http: //www. actuariallookup. com/pass-rates) ○ P/1: 41. 2% ○ FM/2: 47. 5% ○ MFE/3 F: 45. 4% ○ MLC: 41. 5% ○ C: 45. 5% ○ Exam S: 48. 2% ○ Exam 5: 39. 6% ○ Exam 6: 37. 2%

Future Exam Benefits Career: ● Single payment bonuses and salary increases ● Measure of success, progression of career ● Move to higher positions once more credentialed Exam Reimbursement While Still in School: ● Reimbursement of 2 nd+ passed exams ● Need receipts as proof of payment, and passing scores from SOA ● Fill out form with Jerry Chung (chung@pstat. ucsb. edu) ● BARC will reimburse you at the end of the quarter ○ This pays off any outstanding charges, or you can ask BARC for a check in the mail

https: //www. dwsimpson. com/actuary-salary-by-state

https: //www. dwsimpson. com/actuary-salary-by-state

https: //www. dwsimpson. com/actuary-salary-by-state

Questions?

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