Actuaries use a combination of mathematics, statistics, and economics to forecast risk and help organizations plan for their futures. They are employed in many different sectors, including finance, transportation, energy, and environmental stewardship.
Actuaries must have strong quantitative and analytical skills, in addition to experience with economics and finance. They must demonstrate these skills in a series of examinations or through approved educational experiences. The Department of Mathematical, Information & Computer Sciences (MICS) has VEE (Validation by Educational Experience) approval from the Society of Actuaries for several courses that provide exam waivers for successfully completing approved PLNU coursework.
Each of the following subject area examinations may be waived through successful completion of all the corresponding coursework with a grade of B- or higher and a passing score on the first actuarial exam (Exam P - Probability), which you should take immediately after taking Mathematical Probability and Statistics (MTH 383). Discrete Mathematics (MTH 343) and Mathematical Modeling (MTH 373) can also help you prepare for the actuarial exam. So with some work, you can meet three of the 10 items required for becoming a fellow of the Society of Actuaries before you graduate from college.
| Subject Area Examination | Corresponding Coursework |
|---|---|
| Applied Statistical Methods | ECO 460 — Applied Econometrics |
| Economics | ECO 101 — Principles of Macroeconomics ECO 102 — Principles of Microeconomics |
| Corporate Finance | FIN 335 — Business Finance |