RECOMMENDATIONS FOR STUDENTS CONSIDERING BECOMING ACTUARIES
Students considering becoming actuaries should consult information found on web sites of national professional actuarial organizations (e.g., Society of Actuaries and Casualty Actuarial Society) and familiarize themselves with the preparation needed to enter the actuarial profession.
The following is a summary for Santa Clara students.
Individuals show competence in required areas in two ways: by a series of exams on various topics, and by means of taking certain courses while undergraduates in three specified areas (these are called “VEE” [Validation for Educational Experience] categories). The VEE categories allow students to get credit for the three requirements if they pass approved courses with a minimum grade of B-.
Students at SCU can fulfill:
- the Corporate Finance VEE requirement by taking FNCE 121, FNCE 124, and FNCE 125;
(Note: FNCE 121 has prerequisites of OMIS 40 (or MATH 122-123), ACTG 11, ACTG 12, and BUSN 70 (prerequisite for ACTG 11).)
- the Economics VEE requirement by taking ECON 1 and ECON 2.
The third requirement, in Applied Statistical Methods, is only partially fulfilled at SCU. The approved course is AMTH 313 (Time Series Analysis) but this must be paired with an approved regression course. Plans are to try to have ECON 174 (Time Series Analysis) approved as well.
The first actuarial exam now covers Probability. The second actuarial exam now covers Financial Mathematics. To prepare for these two exams, students should take MATH 122 & 123 and MATH 125. Students can take these exams while still undergraduates.
Other actuarial exams depend on which specific type of actuarial work a person pursues.
Last revised: October 29, 2012.