WHAT IS AN ACTUARY? · 2018-02-09 · how to become an actuary. actuarial exams actuarial exam exam...
Transcript of WHAT IS AN ACTUARY? · 2018-02-09 · how to become an actuary. actuarial exams actuarial exam exam...
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WHAT IS AN ACTUARY?NEW YORK UNIVERSITY ACTUARIAL SOCIETY
WEDNESDAY, OCTOBER 11TH, 2017
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AGENDA• WHAT IS AN ACTUARY?
• ACTUARIAL EXAMS
• COURSES TO PURSUE
• INSURANCE AND CONSULTING
• SOA VS CAS
• GAME???
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WHAT IS AN ACTUARY?WHAT DO THEY DO? WHY ARE THEY IMPORTANT?
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ACTUARIAL EXAMSHOW TO BECOME AN ACTUARY.
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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
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WHERE DO ACTUARIES WORK?
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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
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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
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WHY BE AN ACTUARY?
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GAME TIME!LETS PLAY!
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Actuarial Exams
Other Actuarial
NYU SternNYC
LandmarksNYC Eats Potpourri
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Example
What is the University of Washington?
A public institution in the Pacific Northwest with a Husky named
“Dubs” as its mascot
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This actuarial exam focuses on probability and distributions.
Exam P / 1
100
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200
This actuarial exam focuses on the modeling of financial
economics.
Exam MFE / 3F
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This actuarial exam has information taught in Aaron
Tenenbein’s “Mathematics of Investment”
Exam FM / 2
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400
This is a common tool used to study for exams. It’s main product
is called ADAPT.
CoachingActuaries
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Most companies offer this number of hours of study time per hour of
exam.
100
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This society is centered around property and casualty actuaries
Casualty Actuary Society
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This computer program is among the most common used by
actuaries.
Microsoft Excel (VBA)
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300
As of today, the Society of Actuaries has these five
preliminary exams.
P, FM, MFE, MLC, S
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400
This “big 4” advisory firm is the only one not headquartered in the
United States.
KPMG
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500
PwC is the result of a merger between these two firms.
Price Waterhouse and Coopers and Lybrand
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100
This required course for all NYU Stern students is dubbed “Stern’s
Writing the Essay”
Commerce and Culture
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Stern’s largest classroom in Tisch Hall also goes by this name
Paulson Auditorium
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This course once taught by Aaron Tenenbein covered most of the
material for the only SOA-exclusive exam.
Life Contingencies
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NYU Stern is split into these three (connected) buildings.
Tisch Hall, Kaufman Management Center, Shimkin Hall
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500
This is the number of courses required to pursue a
concentration in Actuarial Science
9
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100
This is the official name of the large marble arch in the north side of
Washington Square ParkWashington Square Arch
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200
This is the name of the large entertainment stadium located on
161st Street.
Yankee Stadium
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300
This is the name of the second tallest building in New York City
423 Park Avenue
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This is the name of the large lake in the middle of central park
Jacqueline Kennedy Onassis Reservoir
(Central Park Reservoir for ½)
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500
This is the number of subway lines there are in NYC, according
to the MTA
27
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100
This restaurant is known for exceptional NYU catering
services, including OSE events and at ActSoc’s alumni mingle
The Grey Dog
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200
This American/Italian restaurant on East 19th Street, founded by Danny
Meyer, is winner of over a dozen accolades.
Union Square Cafe
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300
This small bakery in Penn Station is home to the world’s best
banana pudding
Magnolia Bakery
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400
This 24-Hour Tofu House in Koreatown is known for their
soft-tofu soup.
BCD Tofu House
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500
This St. Marks restaurant, serving primarily chicken, often caters
ActSoc’s and SAS’s end-of-semester social
Boka
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100
This is a one-day event held by a company filled with information sessions,
networking events, and final-round interviews.
Superday
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200
This is the name of the NJ stadium where the New York
Giants and Jets play
MetLife Stadium
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300
This former president of the United States served two
non-consecutive terms in office
Grover Cleveland
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This baseball team won the 2016 World Series against the
Cleveland Indians
Chicago Cubs
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500
These sweet, red fruits are actually flowering plants and
belong to the rose family
Strawberries
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THANK YOU!QUESTIONS, COMMENTS, CONCERNS?
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NYU STERN ACTUARIAL SOCIETY
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@NYUACTSOC
OFFICE HOURS: FRIDAY 5-6PM, TISCH 3RD
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