1. First General Meeting Officer Introduction Actuarial Profession/Requirements Overview Upcoming Events

2. What does an Actuary do?  Risk analysis within different sectors; health, life, property, finance… etc  Risk analysis consist of predicting the future and being able to create ways to manage it  Ex: determine how much insurance companies should charge for homeowner insurance taking into consideration variables such as home location

3. What types of Actuaries are there?  Casualty Actuarial Society (CAS)  Work in property and casualty insurance, such as working with car insurance – generally work with several claims (i.e. car liabilities)  Higher salary  More exams, most agree more difficult exams  Several claims  Society of Actuaries (SOA)  Work in life insurance, retirement, pensions, group insurance… etc  More jobs  Generally work with singular claims

4. What are the requirements?

5. THIS CAN GET COMPLICATED Will try to keep this as general as possible, and go into specifics at later meetings. DO NOT BE INTIMIDATED.

6. Different Requirements  CAS will require all SOA exams/same VEE requirements plus 4 more exams. SOA online courses do not count for CAS courses.  VEE Courses  Applied Statistics  Any combination of time series and regression analysis (undergraduate or graduate) i.e. STA 137 + STA 108  Can be satisfied by taking Exam S  Economics  Any combination of macro and microeconomics (undergrad/grad)  i.e. ECN 1A + 1B  Corporate Finance  MGT 205 – Currently unavailable to non-MBA students but soon to be updated

7. Different Requirements  SOA  Exam 1/P – Probability  Exam 2/FM – Financial Mathematics  Exam 3F/MFE – Models for Financial Economics  Exam 4/MLC – Models for Life Contingencies  Exam 5/C – Construction and Evaluation of Actuarial Models  Two Online Courses  Fundamentals of Actuarial Practice (FAP)  Associateship Professionalism Course (APC)

8. Different Requirements  CAS  Same first 4 SOA exams +  Exam ST – Models for Stochastic Processes and Statistics  Exam S – Statistics and Probabilistic Models  Exam 5 – Basic Techniques for Ratemaking and Estimating Claim Liabilities  Exam 6 – Regulation and Financial Reporting (Nation Specific)  Online Courses  Risk Management and Insurance Operations  Insurance Accounting, Coverage Analysis, Insurance Law, and Insurance Regulation

9. Fellow or Associate?  “Fellowship should be your goal”  Along with previous requirements stated for CAS and SOA respectively, to become a fellow… you have to take more exams! Surprise!  This will vary depending on what route you go down (retirement, life… etc)  Could be anywhere from 3 to 4 exams more plus several modules that will have to be completed in each sector requirement.

10. Why become an Actuary?  Saved this for last on purpose. Do not let the exams intimidate you.  Top-Ranked: Consistently one of the top jobs in the U.S  Job Security/Salary  Work-life Balance  Most importantly, allows you to use the subjects you (hopefully) love – Statistics, Economics, Finance, and Math and allows you to have an impact by solving real life problems in every industry.  Continuous learning  From exams to a continuing education requirement, your brain will always be working.

11. Why be in the club?  Networking Opportunities  Decals  Data Software Workshops  Advice and Information by Guest Speakers