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7/31/2019 Act Sci Presentation
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Actuarial Exam Awareness Meeting
September 2009
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Schedule Example
Fall Spring
Freshman Math 221Econ 101
Math 222Econ 102
Sophomore Stat 311
Act Sci 300Math 234RMI 300
Act Sci 303
Act Sci 301Fin 300Stat 312
Junior Act Sci 650Fin 320
Act Sci 651Fin 330
Senior Act Sci 652 Act Sci 653
Act Sci 654
Exam FM
Exam P
Exam MLC
Exam MFE
Exam C
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Calc AB Example
Fall Spring
Freshman Math 222Econ 101
Act Sci 303Act Sci 301Econ 102
Math 234Sophomore Stat 309
Act Sci 300RMI 300
Stat 310Fin 300
Junior Act Sci 650Fin 320
Act Sci 651Act Sci 654
Fin 330Senior Act Sci 652 Act Sci 653
Exam FM
Exam P
Exam MLC
Exam MFEExam C
*If you pass the AP Calc BC exam before coming in, you can moveMath 234 to the Fall of your Freshman year
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Two Examination Systems
1. Society of Actuaries (SOA)
1. Casualty Actuarial Society(CAS)
Dont get overwhelmed. While
youre still in school, you dontreally have to decide whichsystem youre going to enter.
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SOA / CAS Preliminary Exams
Exam 3*
o Exam P / Exam 1
o Exam FM / Exam 2
o
Exam MLCo Exam MFE
o Exam C / Exam 4
* Pay attention to this distinction later on
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SOA Exam P / CAS Exam 1
o Topic: Probabilityo Length: 3 hourso 30 Multiple Choice Questions
o Computer Based
Stat 309/Stat 311/Math 431 & Act Sci 300
Exam P
o Offered: January, March/April, May/June,September, and November
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SOA Exam FM / CAS Exam 2
o Topic: Financial Mathematicso Length: 3 hourso 35 Multiple Choice Questionso Computer Based
Act Sci 303 & Act Sci 301 Exam FM
o Offered: December, February, and May
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SOA Exam MLC
o Topic: Life Contingencies
o Length: 3 hours
o 30 Multiple Choice Questions
Act Sci 650 & Act Sci 651 Exam MLC
o Offered: May & November
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SOA Exam MFE / CAS Exam 3F
o Topic: Financial Economicso Length: 2.5 hourso
25 Multiple Choice Questions
FIN 330 Exam MFE
o Offered: May & November
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CAS Exam 3L
o Topic(s): Statistics & Actuarial Models
o Length: 2.5 hours
o 25 Multiple Choice Questions
Act Sci 650 & 651 Exam 3
Similar to MLC, but
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CAS Exam 3L
oLife Contingencies will be Exam3L
Undefined starting pointCAS will give credit for MLC
oSOA DOES NOT give credit for 3L
Recommendation:
Stick with SOA Exams to avoidconfusion and cover all bases
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SOA Exam C / CAS Exam 4
o Topic: Construction and Evaluation ofActuarial Models
o Length: 3.5 hours
o 35 Multiple Choice Questions
o Computer Based Beginning Fall 2009
Act Sci 652 & Act Sci 653 Exam Co Offered: May and November
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Calculators
Texas Instruments
TI-30Xa
TI-30XIIB TI-30XIIS*
BA-35
BA II Plus* BA II Plus Professional Edition*
*Any memory will be cleared before exam begins
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Caution!
o Do not keep writing after time iscalled or your score will bedisqualified.
o Bring your calculator with you andmake sure you know how to use it.Get familiar with it during class.
o Sign up dates for exams are non-flexible! Sign up well ahead of time.
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Study Materials
ActexASM
BPPPeers - Do not be afraid to
ask older students as well!!
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Studying Advice
o Take the Exams. If youve beenstudying but dont think youll dovery well, take it anyway. Its thebest way to find out what you needto work on.
o Take the exams while the
knowledge is fresh in your mind.The longer you wait, the more youforget, the more you have tore-study.
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Studying Advice Continued
Aim High! Study for a 10 and youmight get a 6, but study for a 6 andyou might get a 2.
Practice Makes Perfect,especially practice problems.Exam problems might be in a
format you havent seen in class.The best way to look out for this isto do old exam problems.
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Failing
ITS OKAY!
Use it as a learning opportunity.
Focus on what you can do better.
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VEE Validation By Educational
Experience
3 Subject Areas: Economics
Corporate Finance
Applied Statistical Methods
Common to SOA and CAS
Purpose: to remove courses previouslyon exams which are better learnedthrough the University
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UW Courses Related to Actuarial Professional Exams
Starting May 2007
Econ VEE
Finance VEE
Statistics VEE
Econ 101 & Econ 102 Or Econ 111
Fin 300 & Fin 320
Act Sci 654 GB 304 &
Stat 349Or Or
Econ
410Or Stat 333 &
Stat 349
Validation By
Educational
Experience
(VEE)
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Resources for exam-takers
Websites:
actuarialoutpost.com Fellow Exam Takers, Career Opportunities, etc.
soa.org Old Exams, Exam Signups & Information, Study Notes,VEE Applications
casact.org
uwactclub.com
The Club Forum is a great way to find study partners,tutors, ask questions about certain exams, or to buystudy manuals
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Finally..
Course advising sheet is availableon the club website:
http://actclub.rso.wisc.edu/
http://actclub.rso.wisc.edu/http://actclub.rso.wisc.edu/7/31/2019 Act Sci Presentation
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Exam Reimbursement
Exam Fall 2009 Fees Points Needed*
P $175 100
FM $175 100
MLC $240 150MFE $120 100
C $300 150
For 2 or more exams, take the higher point requirement
and add 75 points for an additional exam. So, if you passFM and MLC, you need 150 + 75 = 225 points or if pass P,FM and MLC, then need 300 points
YOU MUST PAY DUES TO RECEIVE REIMBURSEMENT!
*
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Upcoming Events
Club Kickoff!This Wednesday from 6-7pm
Grainger 3070
Resume/Pre-Career Fair MeetingTuesday, September 29
5:30-7:30pm in 2120 Grainger
ASRMI Career FairFriday, October 9
4:30-7:45pm at the Fluno Center
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Overview
Math 431 or Stat 309/311 & Act Sci 300
Act Sci 303, Act Sci 301, & Fin 300
Act Sci 650 & Act Sci 651
Fin 330
Act Sci 652 & Act Sci 653
Exam FM
Exam P
Exam MLC
Exam MFE
Exam C