Getting to know each other! Talk to the person sitting next to you! Possible topics: Which campus/school are you from? How’s your first week at UP? What actuarial exams have you taken/planning on taking? Any advice/tips to share? What is something unique about yourself?

Commonwealth Campus and Transfer Students Meeting 7:30pm, Thursday, August 25, Business

Agenda Network Welcome Actuarial Science Program and Club Career Resources Actuarial Exams & VEEs Involvement Fair Technical Skills AT UP Club Q&A

Penn State Actuarial Science Club Our club strives to help our students pass actuarial exams and find employment. We run a variety of events to strengthen our students’ leadership, networking, professional, and actuarial skills. You can find upcoming events, information sessions, exam review sessions and other useful information from the website.

Career Resources Smeal – Career Connections Resources: Courses (BA Career Planning & Strategies Course) Interviewing (Other resource: Glassdoor) Resume Writing (Come to Resume Workshop!) Networking (Other resource: LinkedIn) Cover Letters Researching Companies International Students Sample Letters Internships

Bank of America Career Services Center Career Counseling: Drop-in Counseling Individual Career Counseling Mock Interviews Nittany Lion Career Network (NLCN) Career Fairs (Fall Career Days – Sep 13-15, Actuarial – Sep 19) Workshops & Events Career Information Center eCredentials

Career Opportunities SmealConnect NLCN (Nittany Lion Career Network) Remember to upload your resume if you want to be included in the resume book. Instructions can be found here:

Mock Career Fair Wednesday, September 7 12pm - 3pm Business Building - Atrium Prepare for the upcoming career fairs by practicing your 30 second pitch, having recruiters review your resume and what to do/not to do at career fairs!

Actuarial Exams Given in Harrisburg, Philly, Pittsburgh by: Society of Actuaries (SOA) Life/Pension/Health/Enterprise Risk Mgmt MLC Exam is given at PSU Casualty Actuarial Society (CAS) Property/Casualty SOA exams satisfy CAS Except MLC does not satisfy the CAS Exam S

SOA/CAS Exams & VEEs ExamCourse(s) Best Manual Use during course too Take it when?Comments 1/P - Probability Theory STAT 414 & RM 497C Infinite Actuary, ACTEX, ADAPT, ActuaryExamTutor By Sophomore year!! Sophomores: January Others in May 2/FM - Financial Mathematics RM 410ASM Sophomores:June Others in Dec Derivatives (except Swaps)→MFE Summer 17 3F/MFE – Financial Econ 2018:Investment &FinMkts RM 415 ASM or ADAPT Study it before 415 Late November or July 415 done by late Nov StochasticCalc→FSAexa m MLC - Life Contingencies 2018: Long-Term Act Math RM 411/412 Infinite Actuary or ADAPT cheap in last wk Late October Early May Only 411 LC in CAS S exam 4/C – P&C and Health Ins 2018: Short-Term Act Math RM 412/420 STAT 415/416 Infinite Actuary or ASMJune Stan says easy after Zhongyi’s RM 420 former Applied Stat VEE Statistics for Risk Modeling STAT 462/463 GLM, etc. ?? STAT 462/463 waive Exam thru 7/1/2018 B- or higher S Exam (CAS) STAT 416, 462, 463 & RM 411 ?October 30, 2015 LC, Statistics, & Probability Models Predictive Analytics??? Proctored Project, after graduate? Corporate Finance VEEFIN 301N/A B- or higher Economics VEEECON 102/ECON 104N/A B- or higher

Tips for exams If you haven’t taken P exam yet, take P exam in September or January Take FM exam in December after RM 410 Use manual to prepare for the exam beyond RM 410 Do online sample questions

Involvement Fair Fall 2016 Student Involvement Fair (Smeal) Tuesday, September 6 6pm – 8pm Business Building - Atrium

Technical Skills to Develop Excel: MIS 204 Lynda.psu.edu (free for PSU students) Excel tips Important functions: Lookup formulas (H/VLOOKUP, INDEX, MATCH) Solver tool Financial Formulas (PMT, IPMT, CUMIPMT etc) Making and manipulating graphs SAS: R: STAT 483 STAT 462, 463

AT UP Club Main focus is helping new incoming University Park students adjust to the changes in class structure and campus lifestyle Study sessions, interview tips, great way to meet people Feel free to approach/ Ricky Fessler the club secretary, after the meeting or later if you have

Questions?

Thank you!

Appendix: Sample Schedule with Stat Minor YrFallSpring 1 st MATH 140* (Calc I) ECON 102 (Micro) - VEE MATH 141* (Calc II) ECON 104 (Macro) – VEE ACCTG 211 (Accounting–FIN 301 Pre-req)-VEE 2 nd MATH 231* (Calc III) STAT 414* (Prob Theory),RM 297& P Exam in Jan FIN 301 (Corp Finance) –VEE R M 410* (Financial Math) Excel Take FM in June STAT 416# (Stochastic Processes) helps RM415/S 3 rd R M 415 (Derivatives Markets) Take MFE in late November STAT 415# (Math Stat) helps C/S/MS R M 411* (Life Contingencies) VBA STAT 483# (better SAS class) MATH 220 (Matrices) helps in 412/MLC 4 th R M 412* (Life Contingencies) Take MLC in late October STAT 462# (Regression Analysis) RM 420* (P&C/Health) Stat allows as substitute or RM401*(Pensions) STAT 463# (Applied Time Series) R Take C Exam in June or CAS S Exam in Oct Or take Math 231 in summer at UP or World Campus Placing out of a course helps you take ACCTG 211 (or 211H) in 2 nd semester & FIN 301 in 3 rd semester * C or better required. If C’s, consider other options or majors # for STAT minor; 462/463 already needed for VEE & S. P&C and Health insurers tell us that STAT 483 and Data Analytics courses will help you get a job

Alternate Schedule with Stat Minor YrFallSpring 1 st MATH 141* (Calc II) ECON 102 (Micro) - VEE MATH 231* (Calc III) ECON 104 (Macro) – VEE ACCTG 211 (Accounting–FIN 301 Pre-req)-VEE 2 nd STAT 414* (Prob Theory),RM 297& P Exam in Jan FIN 301 (Corp Finance) –VEE R M 410* (Financial Math) Excel Take FM Exam in June STAT 416# (Stochastic Processes) helps RM415/S 3 rd R M 415 (Derivatives Markets) Take MFE in late November STAT 415# (Math Stat) helps C/S/MS R M 411* (Life Contingencies) VBA STAT 483# (better SAS class) MATH 220 (Matrices) helps in 412/MLC 4 th R M 412* (Life Contingencies) Take MLC Exam in late October STAT 462# (Regression Analysis) RM 420* (P&C/Health) Stat allows as substitute or RM401*(Pensions) STAT 463# (Applied Time Series) R Take C Exam in June or CAS S Exam in Oct If you pursue this plan, there is a risk that your ETM & Overall GPAs could be hurt beyond repair, making it impossible to pursue other Smeal Majors. Please make your decision carefully, taking into account your abilities & commitment to this rigorous plan. Students with 44 PSU credits can apply to ActSci Option & if admitted may schedule RM 410 (if have STAT 414 prerequisite). If 5 on AP exam, you can place out of MATH 140 (to take 231/414 sooner). If you got a 4, see this website on whether to place outthis website Can take Math 231 in Summer at World Campus or UP, or concurrent with STAT 414. Placing out of courses helps you to take ACCTG 211 in 2nd semester and FIN 301 in 3rd semester. P&C and Health insurers tell us that STAT 483 and other Data analytics courses help you get a job * C or better required. If C’s, consider other options or majors # for STAT minor; 462/463 needed for VEE & S

Smeal Major Required Courses Risk & Decisions R M 301* (Fall Only) Risk Management & Insurance R M 320W* (Spring Only) Life & Health Insurance RM 430* (Fall Only) * C or higher required

Smeal’s Business Core Act Sci students can skip Supply Chain 301 * C or higher required Instead of majoring in Smeal’s Finance & Eberly’s Act Sci option, take Smeal’s Act Sci Option, RM 415, sign up for Penn State Asset Mgmt Club, PS Investment Assoc, PS Finance Society, or PS Econ Assoc & read the FIN 414 handouts at sites.google.com/site/lougattis/financial-modeling-files sites.google.com/site/lougattis/financial-modeling-files SCM 200*: Statistics for Business MIS 204*: Business Information Systems FIN 301*: Finance ACCTG 211*: Accounting MKTG 301*: Marketing MGMT 301*: Management BA 411: Analyzing Business & Industry B LAW 341: Business Law BA 342: Business Ethics reference

Stat Major -Actuarial Option  Additional Statistics & Mathematics courses: ◦ MATH 230 instead of MATH 231 ◦ MATH 220: Matrices (good course for RM 412) ◦ STAT 415: Mathematical Statistics (good course for C exam) ◦ STAT 461: Analysis of Variance ◦ STAT 470: Problem solving in Applied Statistics ◦ STAT 483: SAS (better than STAT 480) ◦ STAT 462/463:Applied Regression/Time Series Analysis-VEE ◦ 1 from CMPSC 101/102/121/200/201/202: C++, VB, Matlab, Fortran ◦ Select 9 credits from:  STAT 416: Stochastic Modeling  RM 420: Loss Models (needs a petition, which will be accepted)  STAT 440: Computational Statistics  STAT 464: Applied Nonparametric Statistics  STAT 466: Survey Sampling  MATH 436/441: Linear or Matrix Algebra  MATH 451/455: Numerical Computations & Numerical Analysis  IE 434/436: Quality Control/Industrial Engineering reference

Math Major -Actuarial Option Additional Mathematics & Statistics courses: MATH 230 instead of MATH 231 MATH 311W & 312: Discrete Math & Real Analysis MATH 251: Ordinary & Partial Differential Equations MATH 220: Matrices (definitely take) MATH/STAT 415: Mathematical Statistics (definitely take) MATH/STAT 416: Stochastic Modeling (definitely take) MATH 486: Game Theory or MATH 451: Numerical Computations MATH 484: Linear Programming CMPSC 101, 121, 201C: Computer Programming IE 425: Operations Research RM 415: Pricing Derivatives or 420: Loss Models (ask) reference

Eberly Majors -Actuarial Option  Business courses required: ◦ FIN 301: Corp Finance & Financial Markets ◦ RM 302: Risk & Insurance (Fall is a good time to take it) ◦ Smeal students have to take RM 301/320/430 instead ◦ RM 410*/411*/412*: Actuarial Courses ◦ ACCTG 211: Accounting (only Stat Majors)  Business courses not required: ◦ ACCTG 211: Math Majors will need for VEE ◦ Business Core ◦ B LAW 341 & BA 342: Business Law & Ethics ◦ MIS 204: Intro to Business Information Systems * C or Higher required  Eberly students can get Business Certificate by taking a few courses

Courses in Predictive Analytics (Data Science) P&C and Health Insurers say they’ll hire more students with these courses Regression with HW in R: STAT 462 (taken for VEE) Time Series with HW in R: STAT 463 (taken for VEE) GLM: STAT 511 and someday in STAT 462 (taken for VEE) SAS: STAT 483 much preferred (has some SQL) Monte Carlo: STAT 440 and 416, RM 411/412/415 (taken for MLC/MFE) Machine Learning (Decision Trees, Clusters, Neural Networks, Classification): CMPSC 448 & STAT 557 & Data Mining/Visualization: STAT 380 CMPSC448 pre-req = CMPSC 121/122 Python Survey sampling: STAT 466 STAT 440 pre-req = MATH 220 Bayesian Comp Tech/MCMC/Bootstrapping: STAT 440 (Computational Stat) Principal Components Analysis to reduce dimensions of data: STAT 505 (Multivariate Stat) Survival Tables/Cox/Proportional Hazards: STAT 525 Design and Validation of Experiments/Outcomes: STAT 461 (Anal of Variance) See reference

Other Good Courses to Take If controls allow (e.g., Eberly students can’t take FIN 305/408)  MATH 220: Matrices – great for Markov Chains & MLC  MATH 251:Differential Equations with PDEs  MATH 412: Partial Differential Equations  MATH 451 or 455: Numerical Computations/Analysis  MATH 486: Game Theory  FIN 305 (2 piece): Financial Mgmt of Business Enterprise  FIN 408 (2 piece): Financial Markets and Institutions  ECON 302/304: Intermediate Micro/Macro Economics  ECON 351: Money and Banking  HPA 057: Consumer Choices In Health Care for gym Gen Ed  FIN 414 slides: and sign up for Penn State Asset Mgmt Club, PS Investment Assoc, PS Finance Society, or PS Econ Assoc instead reference

Courses with Programming  RM 297C/410/411/412: Excel & VBA & R  STAT 462/463: some Minitab, R, or SAS may be used  STAT 483: SAS & SQL - great for Health and P&C jobs  STAT 497: R  CMPSC 121/122 Intro to Computer Programming (Python?)  CMPSC 200: MATLAB  CMPSC 203: Excel with some Access  MATH 451: MATLAB used lynda.psu.educan also help with VBA lynda.psu.edu reference

Validation by Educational Experience: VEE Required by SOA, CAS, & Employers ECON 102/104 & FIN 301 required to graduate ACCTG 211 (new VEE after 7/1/2018) Math Majors can take in Spring, per Steve Huddart Must receive a grade of B- or better Or 4 or 5 on AP tests Can’t apply for VEE until pass P & FM Other Campuses can use University Park VEE codes per SOA Can also get credit by exam through ACTEX for Finance & Applied Stat VEE’s CLEP for Econ VEE

Applied Statistical Methods: VEE → Exam2018  Accepted Courses: take one from each  Applied Regression  STAT 462, STAT 501, or ECON 306  ECON prerequisites can be satisfied by Stat 414  Applied Time Series  STAT 463 (STAT 510 or ECON 483 if available)  You can mix and match.  Must include Generalized Linear Models starting 2018  Get STAT Minor - if also take:  STAT 415 (Mathematical Statistics) VEE in 2018 already required in Eberly  STAT 416 (Stochastic Processes) maybe  STAT 480 (Intro to SAS - 1 credit) STAT 483 is better Some get ECON Minor: take ECON 302/304 & 6 credits of 400 level ECON such as 445 (Health Policy), 412 (Labor), 444 (Corp), & 457 (Banking)