1. University of Michigan Actuarial Program
Actuarial Mass Advising Session
Wednesday, January 14, 2019
Psychology Auditorium – 1360 East Hall
7:00 PM – 8:00 PM

2. AGENDA Course Requirements Course Planning
Declaring Actuarial Math Major
Margaret E. Huntington Prize
Exam Strategy
Exam Fee Reimbursements
Actuarial Scholarships

3. INTER DISCIPLINARY PROGRAM
BUSINESS
MATH
ACTUARIAL
SCIENCE
COMPUTER
SCIENCE
STATISTICS
ECONOMICS

4. Actuarial Professionals
Society of Actuaries
Casualty Actuarial
Society
Fellows (FSA)
19,462
Fellows (FCAS)
5,469
Associates (ASA)
12,349
Associates (ACAS)
2,839
Source: SOA (June ’18)
Source: CAS (Sept. ’18)
There are 1.3 millions Physicians in the USA

5. Actuarial Course Requirements
(*) Min Grade of “C Minus” Required
FIN 302
Making Financial Decisions
(SOA VEE
Accounting & Finance
Exam IFM)
STATS 415
Data Mining and Statistical
Learning
(Exam SRM)
TO 414
Advanced Analytics for Management Consulting
(Exam PA)
ACC 300
Financial Accounting
(SOA VEE
Accounting & Finance)
Cognates
Suggested
(2 Needed)
MA 424 (*)
Compound
Interest &
Life Insurance
(Exam FM)
MA 520 (*)
Life
Contingencies
Part I
(Exam LTAM)
MA 521
Life
Contingencies
Part II
(Exam LTAM)
MA 523 (*)
Loss
Models I
(Exam STAM)
MA 524
Loss
Models II
(Exam STAM)
CORE
Courses
STATS 426 (*)
Introductory
Theoretical
Statistics
(SOA VEE Mathematical Statistics)
MA 316 (*)
Differential Equations
OR MA 286
MA 423 (*)
Mathematics of
Finance
(Exam IFM)
MA 425 (*)
Introduction To
Probability
(Exam P)
BASIC
Courses
MA 215 (*)
Calculus III OR
255/285/295
MA 217 (*)
Linear
Algebra
OR 296/395
ECON 101
Microeconomics
(SOA VEE MicroEconomics)
ECON 102
Macroeconomics
(SOA VEE MacroEconomics)
EECS 183
Elementary
Programming
Concepts
Pre
Requisites

6. COURSE DEPENDENCIES EECS 183 Pass MA 215 Min C- MA 316 Min C- ECON 101
FIN 302
Pass
MA 423
Min C-
STATS 426
Min C-
MA 523
Min C-
MA 520
Min C-
TO 414
Pass
ACC 300
Pass
STATS 415
Pass
MA 524
Pass
MA 521
Pass
2/25/2019

7. (*) suggested additional courses
Curriculum of a Student
(With Credit for Calculus I & II)
FALL
WINTER
EXAM / INTERNSHIP
MA 215
MA 425
Exam P – July
EECS 183
MA 217
ECON 101
ECON 102
FRESHMEN
MA 424
Exam FM – Feb
STATS 426
MA 423
Exam IFM – July
ACC 300
FIN 302
Internship
(*) suggested additional courses
SOPHOMORE
STATS 415 (*)
Exam SRM – Jan
MA 523
MA 524
Exam STAM – June
TO 414 (*)
Internship
JUNIOR
MA 316
Exam PA – Dec
MA 520
MA 521
Exam LTAM – May
SENIOR

8. (*) suggested additional courses
Curriculum of a Student
(With Calculus I, but Without Calculus II)
FALL
WINTER
EXAM / INTERNSHIP
MA 116
MA 215
EECS 183
ECON 102
ECON 101
FRESHMEN
MA 425
MA 424
Exam P – Feb
ACC 300
MA 217
Exam FM – June
(*) suggested additional courses
SOPHOMORE
MA 423
Exam IFM – Mar
FIN 302
MA 316
Exam SRM – Sept
STATS 426
STATS 415 (*)
Internship
JUNIOR
MA 523
MA 524
Exam STAM – May
MA 520
MA 521
Exam STAM – Oct
TO 414 (*)
Exam PA – Dec
SENIOR

9. (*) suggested additional courses
Curriculum of a Student
(Without Credit for Calculus I & II)
FALL
WINTER
EXAM / INTERNSHIP
MA 115
MA 116
EECS 183
ECON 102
ECON 101
FRESHMEN
MA 215
MA 425
Exam P – Feb
ACC 300
MA 217
(*) suggested additional courses
SOPHOMORE
MA 424
MA 423
Exam FM – Feb
STATS 426
FIN 302
Exam IFM – July
MA 316
STATS 415
Exam SRM – Sept
JUNIOR
MA 523
MA 524
Exam STAM – May
MA 520
MA 521
Exam LTAM – Oct
TO 414
Exam PA - June
SENIOR

10. (SOA VEE MicroEconomics) (SOA VEE MacroEconomics)
Declaring Actuarial Math Major
MA 217 (*)
Linear
Algebra
OR 296/395
ECON 101
Microeconomics
(SOA VEE MicroEconomics)
ECON 102
Macroeconomics
(SOA VEE MacroEconomics)
EECS 183
Elementary
Programming
Concepts
Pre
Requisites
MA 215 (*)
Calculus III
OR 255/285/295
Don’t need to complete all 5 courses above.
Can declare major AFTER getting good grades in MA 215 & 217.
Declare AFTER announcement of Margaret S. Huntington Prize ($ 1,000) – March or April
Declare BEFORE taking Exam P

11. Margaret S. Huntington Prize
Purpose: To influence Freshmen and Sophomore non-actuarial students to consider Actuarial Math as Major
Many awards - $ 1,000 each
Announced March or April
Watch for from Actuarial Program Director – Feb/Mar
Must get a grade of “A Minus” or better in one of MA 115, 116, 156, 175, or OR
Must get a grade of “B” or better in one of MA 215, 285, or 295

12. Associate of the Society of Actuaries (ASA)
ASA EXAMS
Validation by Educational Experience (VEEs)
Probability
Financial Mathematics
Investments and Financial Markets
Statistics for Risk Modeling
Short Term Actuarial Models
Predictive Analytics
Long Term Actuarial Models
Economics
Mathematical Statistics
Accounting and Finance
Fundamentals of Actuarial Practice (e-Learning Course)
Associateship Professionalism
Course (Seminar)

13. FSA – Various Tracks Corporate Finance and Enterprise Risk Management
Quantitative Finance and
Investment
Individual Life and Annuities
Retirement Benefits
Group and Health
General Insurance

14. FSA  10 Exams + 3 VEEs + 5 Modules + 2 Professionalism Courses
Fellow of the Society of Actuaries
Individual Life and Annuities Track
FSA EXAMS
Modules (e-Learning)
Life Pricing
Life Finance and Valuation
Life Risk Management (OR)
Enterprise Risk Management
Regulation & Taxation
Enterprise Risk Management
Financial Economics
Decision Making and
Communication (DMAC)
Fellowship Admissions Course (Seminar)
FSA  10 Exams + 3 VEEs + 5 Modules + 2 Professionalism Courses

15. Curriculum Actuarial Exams
Introduction To Probability (MA 425)
95%
Probability
Mathematical Interest Theory (MA 424)
86%
Financial Mathematics
Mathematics of Finance(MA 423) &
Making Financial Decisions (FIN 302)
Investments and Financial Markets
70%
Data Mining and Statistical Learning (STATS 415)
XX%
Statistics for Risk Modeling
80%
Loss Models I & II (MA 523/524)
Short Term Actuarial Model
Advanced (Predictive) Analytics (TO 414)
100%
Predictive Analytics
86%
Life Contingencies I & II (MA 520/521)
Long Term Actuarial Model

16. SOA Actuarial Exams - 2019 Exam P FM IFM SRM Exam STAM Exam LTAM PA
Jan 11-22
Feb 15-26
Mar 8-14
Jan 3-9
Feb 8-14
Apr 30
Jun 13
Mar 15-26
Apr 11-22
Jul 9-15
May 10-16
Jun
Oct 25
Dec 12
May 17-28
Jun 6-17
Nov 21-27
Sep 5-11
Oct 3-9
Jul 16-27
Aug 9-20
Sep 12-23
Oct 10-21
Nov 9-20
Dec 10-21

17. Curriculum VEE Credits
(Validation by Educational Experience)
Micro-Economics
(ECON 101 – 4 Credits)
VEE – Economics (Micro)
The SOA gives VEE Credit if a student gets a grade of
“B Minus”
or better, in
Pre-Approved courses, and in
Pre-Approved Universities.
Macro-Economics
(ECON 102 – 4 Credits)
VEE – Economics (Macro)
Introductory Theoretical
Statistics (STATS 426 – 3 Credits)
VEE – Mathematical Statistics
Making Financial Decisions
(FIN 302/300 – 3 Credits)
VEE – Finance & Accounting (Finance)
Financial Accounting
(ACC 300 – 3 Credits)
VEE – Finance & Accounting (Accounting)

18. Exam Fee Reimbursements
Must have declared Actuarial Math as your major at the time you took an Actuarial Exam
Must be a registered student at the time you are applying for Reimbursements
If you get Provisional Pass (immediately after most CBT Exams), that is sufficient to apply for Reimbursement. You don’t have to wait for SOA’s number grade.
Good idea to apply for Reimbursements within 30 days after passing an exam
However, you can still apply for reimbursement if you FORGOT to apply within 30 days (talk to Actuarial Program Director).

19. Actuarial Awards / Scholarships
(Get Good Grades in ALL Math Courses)
$$$ Actuarial Scholarships $$$
$$$ Irwing Wolfson Award (Junior) $$$
$$ Cigna Awards (1 Freshman & 2 Sophomores) $$
$$$ Otto Richter Memorial Prize $$$
$$$ D. W. Simpson Award $$$
$$$ Margaret S. Huntington Prize (many) $$$
$$$ Natarajan Family Award $$$

20. THANK YOU FOR PAYING ATTENTION
ANY QUESTIONS ???
2/25/2019