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Actuarial Science at Oakland. Major. Actuarial Science Major: Blends business and math Strong math skills are necessary Important Classes STA 427 is a good to prepare for P exam FIN 416, 422, and ACC 301 help prepare for the FM exam Side note: ECN 321 can substitute for ECN 302. Minors.

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major
Major
  • Actuarial Science Major:
    • Blends business and math
    • Strong math skills are necessary
  • Important Classes
    • STA 427 is a good to prepare for P exam
    • FIN 416, 422, and ACC 301 help prepare for the FM exam
  • Side note:
    • ECN 321 can substitute for ECN 302
minors
Minors
  • Mathematics Minor
    • Automatic
    • Apply at graduation
  • Economics Minor
    • Requires one extra ECN course if ECN 405 is taken
    • Otherwise two extra courses
  • Finance Minor
    • Requires ACC 210 as the only extra course
  • Applied Statistics
    • Requires one extra STA course if STA 402 and STA 428 or STA 425 are taken
advising
Advising
  • Head Program Advisor (Professor Grossman)
    • Meet at least once a year to check degree progression
  • SBA Advising (Debbie Lengyel)
    • Help plan business course progression
    • Overrides for classes (FIN & ACC)
      • Can email Donna Free for these
  • College of Arts and Sciences Advising
    • Help plan general education requirements
  • Other
    • Professor Tracy
      • Miscellaneous questions
      • Schedule Planning
society of actuaries soa
Society of Actuaries (SOA)
  • www.soa.org
  • User-friendly website
  • Helpful information on the website
  • Finance, Health, Pensions, Life Insurance, etc…
  • Offer the first 5 exams in conjunction with CAS
  • More module based certifications
  • Information on becoming an associate and fellow in the society
casualty actuarial society cas
Casualty Actuarial Society (CAS)
  • www.casact.org
  • Property, Casualty, and related risk areas
  • Exams are said to be much harder
  • Statistically have higher salaries
  • Do not forget about CAS
be an actuary website
Be An Actuary Website
  • www.beanactuary.org
  • Information on the career, exams, and other frequently asked questions
  • Job listing are posted here
  • Helpful statistics including salary levels, companies that employ the most actuaries, etc…
exams
Exams
  • Probability Exam / Exam 1
    • Advised to take STA 427 prior or during the time period registered for
    • Continuing education review class starting in the fall
      • Dates will be sent out soon
  • Financial Math Exam / Exam 2
    • Advised to take FIN 416, 422, and ACC 301 prior
    • Continuing education review class starting either fall or early winter
      • Information will be sent out soon
  • Financial Economics Exam / Exam 3
    • Finance course coming soon
general exam information
General Exam Information
  • 30 questions on an exam
    • Must get a 60% to pass
    • For more information on grading, follow this link
      • http://www.casact.org/admissions/studytools/exam1/Exam_1pass.pdf
  • Pass rates approx. 50%
    • Don’t worry about failing an exam, it happens to everyone
    • Typical of professional exams (CPA, CFA, CFP)
  • Study materials
    • Review books (will be available for check-out in library soon)
exam prep materials
Exam Prep. Materials
  • Actuarial Bookstore
    • www.actuarialbookstore.com
    • Commonly used manuals are ASM, ACTEX, and TIA
  • Actuarial Outpost
    • www.actuarialoutpost.com
    • Provides discussions on exams
      • Also has information on job openings, careers, etc…
internships
Internships
  • Generally must have one exam passed
  • Typically begin looking and preparing in the summer
    • Many large companies select interns by the end of October
  • Towers Watson, Blue Cross Blue Shield of Michigan, and other insurance companies
  • Professional internships not related to actuarial science are extremely beneficial
    • No exams necessary
entry level
Entry Level
  • D.W. Simpson  
    • www.actuaryjobs.com (recruiters)
    • provide an annual salary survey
  • SC International
    • www.scinternational.com (recruiters)
  • SOA
    • Provide an application to search job openings
  • NOTE: considered entry-level when degree is complete
other career paths
Other Career Paths
  • Actuarial Science Major is applicable and advantageous in the following fields as well:
    • Retirement Accountancy
    • Corporate Finance
    • Financial Statistics
    • Economics
society of actuarial science
Society of Actuarial Science
  • Follow us on Facebook
    • Society of Actuarial Science – Oakland University
    • Members can post information and questions
    • Ask questions which the officers can answer
  • GrizzOrgs
    • Sample Schedule and Powerpointhave been added as files on SAS page
  • Emails sent out prior to each meeting
  • Website is coming soon
contacts
Contacts
  • ouasclub@gmail.com
    • Best for questions, information, etc…
    • Answered faster than any other emails provided below
  • Officers
    • Nicole Bramos– President
      • nmbramos@oakland.edu
    • Aaron Teachout– Vice-President
      • amteacho@oakland.edu
    • Menachem Davis – Treasurer
      • msdavis@oakland.edu
    • ZacBudrow– Secretary
      • zabudrow@oakland.edu
  • S.A.S. Adviser
    • Prof. Ogunyemi
      • ogunyemi@oakland.edu
  • Professors
    • Prof. Tracy
      • tracy@oakland.edu
    • Prof. Grossman
      • grossman@oakland.edu
    • Prof. Schmidt
      • schmidt@oakland.edu
    • Prof. Donna Free
      • free@oakland.edu
  • Debbie Lengyel (SBA Advising)
    • lengyel@oakland.edu