WHAT IS AN ACTUARY? · 2018-02-09 · how to become an actuary. actuarial exams actuarial exam exam p/1 probability exam fm/2 financial mathematics exam mfe/3f financial economics

WHAT IS AN ACTUARY?NEW YORK UNIVERSITY ACTUARIAL SOCIETY

WEDNESDAY, OCTOBER 11TH, 2017

AGENDA• WHAT IS AN ACTUARY?

• ACTUARIAL EXAMS

• COURSES TO PURSUE

• INSURANCE AND CONSULTING

• SOA VS CAS

• GAME???

WHAT IS AN ACTUARY?WHAT DO THEY DO? WHY ARE THEY IMPORTANT?

ACTUARIAL EXAMSHOW TO BECOME AN ACTUARY.

ACTUARIAL EXAMS

ACTUARIAL EXAMEXAM P/1 PROBABILITY

EXAM FM/2 FINANCIAL MATHEMATICS

EXAM MFE/3F FINANCIAL ECONOMICS

RELATED NYU COURSESTAT-UB 14: INTRODUCTION TO THE THEORY OF PROBABILITY

STAT-UB 27: MATHEMATICS OF INVESTMENT

FINC-UB 43: FUTURES AND OPTIONS

At a future event, Professor Aaron Tenenbein will discuss all the courses recommended for aspiring actuaries

WHERE DO ACTUARIES WORK?

INSURANCE VS. CONSULTING

INSURANCE

• MORE EXAM-BASED

• 40 HOURS/WEEK

• USUALLY CONSISTS OF PRICING & RESERVING

CONSULTING

• MORE CLIENT FACING

• LONGER HOURS

• SOME NON-TRADITIONAL ACTUARIAL WORK

SOA VS. CAS

SOCIETY OF ACTUARIES• LIFE, HEALTH AND RETIREMENT

• 5 (SOON TO BE 6) PRELIMINARY EXAMS

CASUALTY ACTUARY SOCIETY• PROPERTY & CASUALTY

• 7 PRELIMINARY EXAMS

WHY BE AN ACTUARY?

GAME TIME!LETS PLAY!

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Actuarial Exams

Other Actuarial

NYU SternNYC

LandmarksNYC Eats Potpourri

Example

What is the University of Washington?

A public institution in the Pacific Northwest with a Husky named

“Dubs” as its mascot

This actuarial exam focuses on probability and distributions.

Exam P / 1

100

200

This actuarial exam focuses on the modeling of financial

economics.

Exam MFE / 3F

300

This actuarial exam has information taught in Aaron

Tenenbein’s “Mathematics of Investment”

Exam FM / 2

400

This is a common tool used to study for exams. It’s main product

is called ADAPT.

CoachingActuaries

500

Most companies offer this number of hours of study time per hour of

exam.

100

100

This society is centered around property and casualty actuaries

Casualty Actuary Society

200

This computer program is among the most common used by

actuaries.

Microsoft Excel (VBA)

300

As of today, the Society of Actuaries has these five

preliminary exams.

P, FM, MFE, MLC, S

400

This “big 4” advisory firm is the only one not headquartered in the

United States.

KPMG

500

PwC is the result of a merger between these two firms.

Price Waterhouse and Coopers and Lybrand

100

This required course for all NYU Stern students is dubbed “Stern’s

Writing the Essay”

Commerce and Culture

200

Stern’s largest classroom in Tisch Hall also goes by this name

Paulson Auditorium

300

This course once taught by Aaron Tenenbein covered most of the

material for the only SOA-exclusive exam.

Life Contingencies

400

NYU Stern is split into these three (connected) buildings.

Tisch Hall, Kaufman Management Center, Shimkin Hall

500

This is the number of courses required to pursue a

concentration in Actuarial Science

9

100

This is the official name of the large marble arch in the north side of

Washington Square ParkWashington Square Arch

200

This is the name of the large entertainment stadium located on

161st Street.

Yankee Stadium

300

This is the name of the second tallest building in New York City

423 Park Avenue

400

This is the name of the large lake in the middle of central park

Jacqueline Kennedy Onassis Reservoir

(Central Park Reservoir for ½)

500

This is the number of subway lines there are in NYC, according

to the MTA

27

100

This restaurant is known for exceptional NYU catering

services, including OSE events and at ActSoc’s alumni mingle

The Grey Dog

200

This American/Italian restaurant on East 19th Street, founded by Danny

Meyer, is winner of over a dozen accolades.

Union Square Cafe

300

This small bakery in Penn Station is home to the world’s best

banana pudding

Magnolia Bakery

400

This 24-Hour Tofu House in Koreatown is known for their

soft-tofu soup.

BCD Tofu House

500

This St. Marks restaurant, serving primarily chicken, often caters

ActSoc’s and SAS’s end-of-semester social

Boka

100

This is a one-day event held by a company filled with information sessions,

networking events, and final-round interviews.

Superday

200

This is the name of the NJ stadium where the New York

Giants and Jets play

MetLife Stadium

300

This former president of the United States served two

non-consecutive terms in office

Grover Cleveland

400

This baseball team won the 2016 World Series against the

Cleveland Indians

Chicago Cubs

500

These sweet, red fruits are actually flowering plants and

belong to the rose family

Strawberries

THANK YOU!QUESTIONS, COMMENTS, CONCERNS?

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ACTRLSOC@STERN.NYU.EDU

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OFFICE HOURS: FRIDAY 5-6PM, TISCH 3RD

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