1. 2016 Actuarial Club Kick Off Meeting 09/15/2016
Actuarial Tid-Bits
2016 Actuarial Club Kick Off Meeting
09/15/2016

2. Overview Actuarial Club: Overview & Benefits What is an actuary?
What do they do?
Actuarial Societies: SOA vs CAS
Exams
Internships
Actuarial Events

3. Actuarial Club Overview & Benefits
The purpose of the club is to provide IPFW students majoring in mathematics the opportunity to:
learn about the actuarial profession
be connected with local employers and organizations associated with the actuary profession
attend lectures and meetings given by local employers and organizations associated with the actuarial profession
explore internships/employments in the field of actuarial science
form support groups to prepare for actuarial exams

4. What is an Actuary?
Definition: An actuary is a person who compiles and analyzes statistics and uses them to calculate insurance risks and premiums.
Helpful Actuarial Information Resources:
Be an Actuary
Society of Actuaries
Casualty Actuarial Society
Bureau of Labor Statistics
Actuarial Outpost

5. What do Actuaries do?
The future is uncertain and full of risk. Risk is the chance that an undesirable event will occur, but risk is also opportunity.
Actuaries are experts in:
Evaluating the likelihood of future events using numbers and models
Designing creative ways to reduce the likelihood of undesirable events
Decreasing the impact of undesirable events that do occur
Use of a combination of strong analytical skills, business knowledge, and understanding of human behavior to manage today's complex risks facing our society

6. Casualty Society of Actuaries
Actuarial Societies
Society of Actuaries
Casualty Society of Actuaries
Areas
Traditional & Consulting
Health
Life
Pension
General (P&C)
Examples
Annuities
Life Insurance
Pension & Retirement
Areas
Traditional & Consulting
Property
Casualty
Examples
Auto Insurance
Home Insurance

7. Actuarial Exams
The preliminary exams are the common foundation for becoming an actuary
Shared Exams
Probability (P/1)
Financial Mathematics (FM/2)
Models of Financial Economics (MFE/3)
Construction and Evaluation of Actuarial Models (C/4)
After the shared exams, the two societies differ on what is tested

8. Actuarial Exams: Credential Route
Society of Actuaries
Casualty Society of Actuaries
Associate of the SOA (ASA)*
Preliminary Exams
P, FM, MLC, MFE, C
VEE
Finance, Economics, Statistics
Actuarial Professionalism Course (APC)
Fundamentals of Actuarial Practice (FAP)
Fellow of the SOA (FSA)
Has six different tracks (specializations)
Corporate Finance & ERM
Individual Life & Annuities
Quantitative Finance & Investment
Retirement Benefits
Group & Health
General Insurance
Each track has :3 exams, 4 modules, and Fellowship Admissions Course
*Exam requirements are changing as of July 1, 2018
Associate of the CAS (ACAS)
Preliminary Exams
1, 2, 3F, 4, S, 5, 6
VEE
Finance, Economics
Online Courses
Professionalism Course
Fellow of the CAS
Exams 7, 8, 9

9. Actuarial Exams Resources
Joe Francis – General actuarial guidance, FM, & MFE Classes
Study Materials
Coaching Actuaries
Actex
Actuarial Bookstore
The Infinite Actuary
A/S/M (Actuarial Study Materials)
SOA
CAS
Can form study groups with classmates to help with exam preparation

10. Actuarial Internships
Just as important as exams
Gets real life work experience while in college
Meaningful work and sizeable impact on the company
Learn the technical and soft skills needed to be successful in the actuarial workplace
Such as VBA, SAS, Excel, and many communication mediums
Most are paid
Recruiting mainly takes place in the fall
September through early November

11. Actuarial Events Actuarial Visits SOA Candidate Connect Newsletter
Actuaries visit IPFW to talk to the Actuarial Club about what they do
Normally leads to some recruiting for jobs and internships
Dress business casual and have questions prepared
Stand out in the visit and that may just land you an internship or job that you want!
Past companies to visit: Lincoln Financial Group, Swiss Re, Buck Consultants, Cigna
SOA Candidate Connect Newsletter
It is an e-newsletter for SOA candidates who are taking exams to attain their ASA designation
It keeps candidates up-to-date on SOA initiatives affecting candidates, exam developments, upcoming candidate events, news of the actuarial profession, resources, and more

12. Actuarial Events DePaul Actuarial Club Meeting Club Contacts
October 21st-22nd, 2016 at DePaul University in Chicago for the 4th Annual Midwest Actuarial Student Conference hosted by the DePaul Actuarial Club in conjunction with DePaul University.
Will have lots of great information and networking opportunities
Club Contacts
Club President: Anthony Hartle
Club Advisors
Joe Francis, Actuary in Residence
Chand K. Chauhan, Ph.D.
Actuarial Club Facebook
Address: IPFW Actuarial Club Facebook