Internet Resource Guide
For Actuarial Science Majors
Published by:
Erik Hostetter
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Table of Contents
I.
Introduction
a. What is in this guide…………………………………………….…….4
b. Who this guide is for…………………………………………….……4
c. Prior knowledge this guide assumes………………………………….4
d. How the guide is organized…………………………………………...4
e. Tips for using this guide………………………………………………5
II.
Part 1: General Resources for Actuaries
a. Be An Actuary………………………………………………………..7
b. Top Audit and Actuarial Firms……………………………………….8
c. The North American Actuarial Journal (NAAJ)……………………...9
d. U.S. Catalog of Government Publications………………..…………10
e. Statistical Abstract of the United States……………………………..11
III.
Part 2: Exam Resources for Actuaries
a. Society of Actuaries Homepage……………………………………..13
b. The Infinite Actuary…………………………………………………14
c. ADAPT……………………………………………………………...15
d. ActuarialOutpost…………………………………………………….16
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INTRODUCTION
In this section the reader will be provided with the general information needed to
navigate this resource guide effectively and efficiently.
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What is in this guide
This internet resource guide provides many useful online websites and databases
that are pivotal in studying actuarial science in college. This guide contains many
resources pertaining to the actuarial profession and how to start your studies as an
actuary. In order to land that first entry level position as an actuary, one must first
pass a few of many exams pertaining to probability models, financial mathematics,
financial economics, amongst many others. Once an actuarial student graduates
and have passed a few of these vigorous exams (around 300 study hours each),
they can begin searching for internships and jobs in the field.
Who this guide for
This guide is primarily intended for college students studying actuarial science and
currently taking the actuarial exams. This guide provides the ins and outs of
studying this in college and gives many very useful resources that can be used to
assist in studying for the exams. Although that may be the primary audience for
this resource guide, this can be an asset to other groups of individuals as well. High
school students, undecided college students, and those seeking jobs or recently
accepting jobs can also find many useful entries in this resource guide.
Prior knowledge this guide assumes
Most of this resource guide requires some prior knowledge of the actuarial
profession and the exam process, although all of this material can be obtained
through the first resource “Be An Actuary.” There the reader can learn about what
exactly it is actuaries do, the type of companies they work for, and how the
actuarial exam process works. Once the reader is familiar with those few important
areas of the profession, this resource guide can be a map to assist in succeeding in
college, passing the exams, and obtaining that first job.
How this guide is organized
This guide is broken into two major parts. The first section of the guide really gets
into what actuaries are and what they do, how to begin studying it in college, and
how to land the first entry level position.Most full time positions ask their
candidates to pass 2-3 exams while their school, although there are certainly
exceptions on both sides of the spectrum. Because of that, the second section of
this guide provides the reader with the many resources available to pass these
exams.
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Tips for using this guide
If interested, yet unfamiliar with actuarial science
 Thoroughly navigate through the “Be An Actuary” resource. This website
provides most if not all information one may need to become an actuary.
 Move to the “ActuarialOutpost” resource to find any unanswered questions
you may have after reading through “Be An Actuary.”
If already familiar with actuarial science and would like to keep up to date with the
most current news, refer to Part I of this document. There you will find all
resources pertaining to current trends and developments in the actuarial profession.
If currently studying actuarial science and would like more information on the
exam process, refer to Part II of this document. This provides all of the exam
syllabi and helpful study materials available on the web today.
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PART I:
GENERAL RESOURCES FOR ACTUARIES
In this section, the reader will find general information on studying actuarial
science and what it is like to work as an actuary following graduation.
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Be An Actuary
www.BeAnActuary.org
Description:
This is arguably the most useful website for students pursuing the actuarial career.
This website provides a surplus of useful information for students still in high
school, college students that are currently in this major or thinking about changing
to it, and those in entry-level positions. Be An Actuary provides general
information on the career, the benefits of being an actuary, and everything you
would need to know while studying actuarial science in college (classes to take, the
actuarial exam process, etc.). The fact that this is the only website available that is
jointly sponsored by the two actuarial societies, the Society of Actuaries (SOA)
and the Casualty Actuarial Society (CAS), makes this extremely useful for those
considering which society to pursue fellowship in.
Useful Tips:
 If you may not know exactly what actuaries are or what they do on a daily
basis, you may want to peruse though the “What is an Actuary?” tab.
 Under the “College Study” tab, you will find all the resources you may need
to successfully find what schools to consider, what classes to take, and
scholarships and internships available to those studying this program.
 If you are a recent college graduate or soon to be graduate, the “Finding a
Job” tab provides job opportunities that are tailored around your preferences,
as well as interviewing and resume tips.
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Top Audit and Actuarial Firms
www.parentebeard.com/_pdfarticle/TopAuditAndActuarialFirms.pdf
Description:
This document, sponsored by A.M. Best Inc., provides a breakdown of the top
actuarial firms and audit firms in the United States, based on their total loss reserve
(excess funds) and amount of clients. A.M. Best Inc. also breaks this down into the
three main lines of insurance products (Life, Health, Property/Casualty) so the
reader can analyze the companies based which actuarial exam track they may want
to pursue. This resource can be a great asset to those who are seeking internships
or full-time jobs.
 Note: A.M. Best states that not all actuarial and audit companies were
contained in the survey.
Useful Tips:
 Be sure to read the first page carefully when analyzing the loss reserves for
different lines of insurance. The reserves for property/casualty insurance are
calculated very differently than the life or health insurance companies.
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The North American Actuarial Journal
www.soa.org/news-and-publications/publications/jouranls/naaj/naaj-detail.aspx
Description:
The North American Actuarial Journal (NAAJ) is the single most accredited
journal in the actuarial profession. It is sponsored by the Society of Actuaries
(SOA), and provides members of the SOA with the latest news in the actuarial
community. This publication gives its members access to how the actuarial
profession is being represented in all spectrums in the world today (international,
scientific, academic, business, and government). The SOA releases four journals a
year, each covering four to five different areas of the actuarial profession. This
resource would be mostly used by those soon to enter, or already part of the
actuarial work force.
Useful Tips:
 On the journal homepage, there is a “FAQ” section that provides support
about the journal, such as how to acquire a subscription of the journal for
SOA and non-SOA members, and how to access all of the journals through
the SOA page or their partner site www.tandfonline.com.
 Abstracts of all articles are provided for all viewers and one may purchase a
single article from the journal uninterested in a full subscription.
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U.S. Catalog of Government Publications
This U.S. Government data base shows all public federal publications relating to a
specific industry or profession. Any person can access the database by going to
www.catalog.gpo.gov/F and entering a keyword into the search box. All search
results are sorted by most recent to least recent but other filters may be applied.
Through this database, one can also locate the closest Federal Depository Library if
interested in finding a hard copy of the publication.
Use of Actuarial Tables in Valuing Annuities, Interests for Life or Terms of
Years, and Remainder or Reversionary Interests
www.irs.gov/irb/2011-38_IRB/ar06.html
Description:
This technical document provides the regulations necessary in the use of actuarial
life tables and interest rates for calculating insurance policies and reserves.
Actuarial life tables are the backbone of pricing insurance, and therefore; must be
updated regularly and universally to provide the accurate mortality rates across the
industry. To fully interpret this document, one must have some prior knowledge of
actuarial notation and terminology.
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Statistical Abstract of the United States
The Statistical Abstract of the United States is a database resource provided by the
United States Government that provides statistical data pertaining to social,
political, or economical matter. Created in 1878, this abstract offers important
statistics from the Census Bureau, other Federal Agencies, as well as many other
private organizations.
Life Insurance in Force and Purchases in the United States
Summary: 1990 – 2009
www.census.gov/compendia/statab/2012/tables/12s1220.pdf
Description:
This piece of statistical data, although a little outdated (five years) provides the
reader with a scope of how many life insurance policies are in effect, and it also
shows a balance sheet providing a financial breakdown of the income and policy
reserves of all the life insurance companies per year in the United States. This data
covers all policies in force in the U.S. regardless of whether the policy was issued
by a domestic or foreign company.
Useful Tips:
 When observing the top chart, the dollar amounts in the table are in millions
of dollars (i.e. 389 represents 389,000,000).
 When observing the bottom chart, the dollar amounts are in billions of
dollars (i.e. 402.2 represents 402,200,000,000).
 The last line of numbers in the second chart labeled “Capital and surplus” is
the total profit earned by the life insurance companies.
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PART II:
EXAM RESOURCES FOR ACTUARIES
This section will provide the reader with the many useful resources available to
assist in passing the vigorous actuarial examinations.
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Society of Actuaries
www.soa.org
Description:
The Society of Actuaries website provides a lot of use to those in the actuarial
field. The most useful section of this website is the actuarial exams section.
Through this section, aspiring fellows of the Society of Actuaries can find any
information they may need on each of the actuarial exams, such as the exam
syllabus, registration dates and fees, and previous exam problems and solutions.
This site also provides actuaries with their exam transcript which is something all
exam takers should know about. This website will have even more use after
beginning one’s career as an actuary.
Useful Tips:
 To quickly navigate this site there is a search bar in the upper left corner that
can take the user to every exam’s homepage amongst many other areas of
the website.
 To check ones SOA transcript and order history, use the drop down menu on
the left column of the homepage and navigate the site to the appropriate
location.
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The Infinite Actuary
www.theinfiniteactuary.com
Description:
The Infinite Actuary (TIA) is the single most useful resource for passing actuarial
exams. Although it is quite expensive, the user is provided with the latest and most
in depth study material on the market. For each exam, The Infinite Actuary
provides lesson videos on every topic, with practice problems and video solutions
to follow. Every member has unlimited access to that exam’s material, and has the
luxury to chat with TIA support staff about any certain area they may be struggling
with. Since studying for actuarial exams is primarily done independently, The
Infinite Actuary is the most useful resource in that it provides the closest
representation of a class room environment on the study material market.
Useful tips:
 College students receive a 50% discount on all TIA products.
 TIA provides its members with totally original practice exams and problems
that are more challenging than the real exam. This really helps its users to
learn the material at a higher level than the rest of the competition.
 Each exam taker is provided with a study schedule program that its members
can enter the current date and the date of the exam to keep them on pace to
learn the material in time.
 The Infinite Actuary provides packages for every actuarial exam in both
tracks of fellowship designation.
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ADAPT
www.coachingactuaries.com
Description:
ADAPT is an extremely useful resource for those who are studying for actuarial
exams. Created by The Coaching Actuaries, the ADAPT program generates
sample exams for the user at a difficulty level that is reasonable for them. Each
user has an “Earned Level” which can give them an idea of how well they
progressing with their studying. ADAPT also provides its users with topic quizzes
to help solidify the material they may be struggling with. Below is a numerical
representation of how the user’s chances of passing an exam compare to their
Earned Level in ADAPT.
Useful Tips:
 ADPAT provides a 25% discount to all college students.
 ADAPT is a resource that should be used after majority, if not all of the
exam material has already been learned.
 The Coaching Actuaries provide an option called the “Pass Guarantee” that
for an extra fee will refund the purchaser with a subscription of equal length
if they do not pass their exam.
 Exam takers may purchase subscriptions of many different lengths (7, 14,
30, or 60 days)
 ADAPT can be purchased at a discount the closer it gets to the date of the
exam.
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ActuarialOutpost
www.actuarialoutpost.com
Description:
ActuarialOutpost is a great place for actuaries at all levels to communicate
amongst each other on anything pertaining to the career. Each actuarial exam has
its own page where members can post specific problems that may need further
explanation, tips and tricks to passing the exams, as well as any other general
concerns one may have. This site also provides blogs pertaining to finding jobs at
all levels and one can talk with others to learn the ins and outs of the career and
have any questions they may have answered by a wide range of actuaries.
Useful Tips:
 There is a calendar section of the site that allows users to keep track of
important events pertaining to their actuarial endeavors.
 The FlashChat tab allows users to join a live chat room to discuss any
concern that may immediate attention.
 ActuarialOutpost has its own wiki page that any user has the ability to edit
and share helpful exam materials and other relevant information.
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