First Meeting Powerpoint


Actuarial Science Club


Who makes it all happen

Board Members

Nate Stemberger

 Karno Sarkar

 Tommy Lewis

 Billy Buddle

Hayley Black

Hannah Cregg

Faculty Members

Gabor Francsics

Emiliano Valdez

Albert Cohen

Tom Mccollum

Defining Actuarial Science

*A formal mathematical discipline applied to valuating and precisely analyzing the financial implications of future contingent events.

-Interdisciplinary study inclusive of pure mathematics, statistics, finance, economics and computer programming.

-Provides data collection, measurement, estimating, forecasting and valuation tools that aid management in making critical financial and marketing decisions regarding business opportunities and risks.

Major at MSU

-First semester as a major was fall 2011.

-Housed within the math department which is within the College of Natural Sciences

-You can also declare an actuarial specialization (21 credits)

Some Actuarial Roles

*Actuaries take on risk management roles by assisting companies with there future planning and minimizing potential financial losses.

-Life Insurance

Focus is on the analysis of mortality

-Health Insurance

Analysis of rates of disability, illness and other health contingencies

-Pension Industry

Cost analysis as pertaining to design, redesign, funding, accounting, and maintenance of pension plans.

-Property and Casualty Insurance

Involves specializing in personal and commercial lines of insurance i.e. automotive, fire, catastrophe, theft, property, product liability etc.

Professional Outlook

Salaries and bonuses are typically functions of experience, performance, and exams passed.

-2013 DWSimpson Salary Survey:

2013 Average Total Comp. = $7,474(Yrs of Experience) + $63,315

2013 Average Entry Level Comp. = $1,683(Number of Exams) + $54,063

-Bureau of Labor Statistics:

The median annual wage for actuaries in May 2012 was $93,680

Employment for actuaries is expected to grow 26% from 2012 to 2022

-General work place environment

Actuaries typically work in an office setting with workweeks usually in the

40-60 hour range.

It is not uncommon for actuarial consultants to travel frequently in order to meet with clients.

Long Run Picture of Exams

SOA (Society of Actuaries) has three primary designations:

ASA- Associate of the Society of Actuaries

Exams Required: P, FM, MLC, MFE, C

VEE: Applied Statistics, Economics or Corporate Finance

Modules: Fundamentals of Actuarial Practice, Associateship Professionalism Course

CERA- Chartered Enterprise Risk Analyst

Exams Required: P, FM, MFE, C, ERM

VEE: Economics or Corporate Finance

Modules: Enterprise Risk Management Course, Associateship Professionalism Course

FSA- Fellow of the Society of Actuaries


Completion of one of the following tracks:

Individual life and Annuities, Corporate Finance/ERM, Quantitative Finance/Investment,

Retirement Benefits, Group/Health and General Insurance

*Each fellowship track includes around three exams, three modules and various seminars

Actuarial Preliminary Exams


• P – Probability

• FM – Financial


• MLC – Modeling



• MFE – Financial


• C – Construction of Actuarial



Society of


• Work with

Pensions, Life


Retirement, etc.

• More common


Casualty Actuarial


• Work with Property and Casualty (Auto

Insurance and Home


• Typically more rewarding but harder exams

How MSU prepares you

P – STT 441

FM – MTH 360, FI 379

MLC – STT 455, STT 456

MFE – MTH 458, STT 457

Study Tips

• Order a study manual

(Actex vs. ASM)

• 100 study hours per exam hour

• Get a group to study with

Our Goal

To provide opportunities for members to receive internships and full time positions

Club Changes

Volunteer opportunities available

 A way to boost your resume & feel good about yourself!

Good way to get to know other club members

Study Manual Library

In the process of setting up a library for study manuals

 If you have old manuals you don ’ t use you can donate them to the library

Club Overview Cont.

Dues (start collecting next week)

What you get out of dues


Resume Book




Study Groups

Attendance (New Board Members)

MSU Company Visits

MSU Company Visits

Provide students an opportunity to meet actuaries from various companies.

Learn about companies and a life of an actuary within the company.

 Networking opportunities.

A way to get a head-start towards an actuarial internship

Companies that will visit


Towers Watson

 Humana

 Blue Cross Blue Shield

 Accident Fund

 And much more…

What You Need To Know

A company visit works both ways

Just as a company makes an impression on us, we must also make a good impression on the company.

What We Expect

We expect a good turn-out for EVERY company visit

Always come in looking and prepared to impress

 Be respectful

 Come with questions

 Always look for opportunities


Next Meeting

September 11 th

7pm room C304 (here)

Topic: Actuarial Preliminary Exams in Depth and

Resume/Interview Tips

Begin Dues Collection

First Company Visit


6:30pm room C304 (here)

Thank you for coming out!