Mathematics Department

Mathematics Department

(A) Taking GRE tests


under construction

(B) Graduate school issues

under construction

(C) What the W&M placement office can offer

under construction

(D) Actuarial science careers

Q: I am considering a career in actuarial science. What William & Mary courses are appropriate, and when do I begin taking the actuarial exams?

A: 

Several math majors per year choose actuarial science as a career
path. The career has been consistently rated in the top three
career choices by *Jobs Rated Almanac*:

http://www.beanactuary.org/about/best_job.cfm

Your first move is to visit the website for the Society of Actuaries:

www.soa.org

Click on the ``exams and jobs'' tab at the top and start looking
around for what is offered. You will probably want to start with
Exam P (P is for probability). The exams have been traditionally
offered in Nov and May, but they have been moving toward on-line
exam offerings.

As a warning, these exams are very difficult. The pass rate has
historically ranged from the high 20's to the low 40's (as a percent).
You would do well to form a study group of like-minded classmates
and meet regularly to solve old exam questions.

The coursework that best prepares you for Exam P is (ranked best first)

Math 401 (Probability)
Math 452 (Math Stat)
Math 424 (OR II)
Math 351 (Appl Stat)

Although only the first two of these classes are adequate preparation
for the exam, the more background in probability and statistics, the
better. After that, any course the deals with survival analysis, the
time value of money, finance, etc. contains useful material.