MFE C Economics MLC ACTUARIAL SCIENCE Statistics S Finance MATH P FM New Student Advising November 7, 2016 MFE C Economics MLC ACTUARIAL SCIENCE Statistics S Finance MATH P FM

Actuarial Science Major Requirements Act Sci 650 –Actuarial Math Act Sci 653 or Act Sci 651 – Second semester of 652/650 Act Sci 654 or Act Sci 655 or Econ 301 or Math 632 – Advanced Statistics Stats 309 or Stats 311 or Math 431 - Probability Act Sci 300 - Review course for probability (1 cr) Act Sci 303 - Interest Theory Act Sci 301 - Review course for Interest Theory (1 cr) Stats 310 or 312 - Statistics Act Sci 652 – Loss Models

UW Courses Related to Actuarial Professional Exams Revised Fall 2016 Course P/1 (Probability) Math 431, Stat 309 or Stat 311 and Act Sci 300 Act Sci 303 and Course FM/2 (Financial Mathematics) Act Sci 301 Course C/4 (Construction & Evaluation of Actuarial Models) Act Sci 652 and Act Sci 653 Act Sci 365* and/or Fin 330* Course MFE/3F (Financial Economics) Act Sci 650 and Act Sci 651 Course MLC (SOA only) (Life Contingencies) Act Sci 650 and Stat 310/312 and Act Sci 654 Course S (CAS only) (Statistics) *About 50% of the material for exam MFE/3F is covered in Fin 330. Act Sci 365 is a 1 credit review course for exam MFE. Some students will take both courses, others will cover material more on their own and take review course to prepare for the exam.

Validation for Educational Experience (VEE) Revised Fall 2016 Econ VEE Econ 101 and Econ 102 or Econ 111 Fin 300 and Fin 320 Finance VEE Or Econ 410 Stat 333 and Stat 349 Act Sci 654 Or Act Sci 655 Or Statistics VEE (SOA only starting 2015*) Students must earn a BC or better in these courses in order to get credit for their educational experience. Student apply for VEE credit separately for each topic and must include official original transcript. Should you not be able to satisfy these requirements while in school, there are other approved courses/options, mostly online. However, we advise strongly to attempt to take the coursework here at the UW to meet the requirements. *CAS transition rules apply

Actuarial Professional Exam Offerings Based on 2015 sittings Exam Dates offered P/1 Mid-January, late March, mid-May, late July, late September, mid-November FM/2 Late February, mid-April, mid-June, mid-August, mid-October, mid-December MFE/3F Mid-March, mid-July, late November C/4 Mid-February, late June, early October MLC Late October, Late April S Early May, late October

High School Calculus AB or BC Academic Year Fall Spring First Courses: Math 222      Actuarial Exam: Act Sci 303 Act Sci 301 Math 234 Actuarial Exam: FM/2 Second Probability Act Sci 300   Actuarial Exam: P/1 Statistics Third Act Sci 652 Act Sci 653 Actuarial Exam: C/4 Fourth Act Sci 650 Act Sci 654 or Act Sci 655 Actuarial Exam: S Act Sci 651 Actuarial Exam: MLC High School Calculus AB or BC

No High School Calculus Academic Year Fall Spring First Courses: Math 221      Actuarial Exam: Math 222 Second Act Sci 303 Act Sci 301 Math 234 Actuarial Exam: FM/2 Probability Act Sci 300 Actuarial Exam: P/1 Third Statistics Act Sci 652 Act Sci 653   Actuarial Exam: C/4 Fourth Act Sci 650 Act Sci 651 Act Sci 654 or Act Sci 655  Actuarial Exam: MLC or S No High School Calculus

Considerations Get Involved. We have an unbelievable actuarial science community here at UW-Madison. So many great people to meet and learn from: students, professors, visiting professionals. Take advantage of everything that our program has to offer to you. Second Major. Consider taking Risk Management and Insurance as a second major. Also popular is Finance. Studying Abroad. Many of our students will study abroad and with us now offering the 600 level courses every semester it gives more options to do so. Studying abroad can be very educational and fulfilling.

Study Materials ASM Actex BPP Check the library! TEL website Manuals, Flashcards, Practice Exams Actex BPP Check the library! TEL website SOA/CAS Provided Problems

Professional Exam Advice Take the Exams. If you’ve been studying but don’t think you’ll do very well, take it anyway. It’s the best way to find out what you need to work on. Take the exams while the knowledge is fresh in your mind. The longer you wait, the more you forget, the more you have to re-study. Practice Makes Perfect, especially practice problems. Exam problems might be in a format you haven’t seen in class. The best way to look out for this is to do old exam problems. Form study groups!

Additional Resources www.beanactuary.com www.actexmadriver.com www.soa.org www.actuarialoutpost.com

Group Time!!! Break off into small groups with a leader in your area. Ask questions! Now is the time! Talk about next semester classes and beyond!