Actuarial Science Concentration Information

Preparing for Certification

A key part of the actuarial profession is the certification process administered by the Society of Actuaries (SOA). The course work you take at Michigan Tech in the actuarial science concentration

  • Prepares you for the first two actuarial exams (P and FM)
  • Gives you a good start in preparing for exams MLC, MFE, and C, when combined with advanced course work
  • Fulfills three Validation by Educational Experience (VEE) requirements

Students can and should pass the P and FM exams during their undergraduate study. Because actuaries are in great demand, passing these exams and completing an actuarial internship places our graduates in a very competitive position.

Earning VEE Credits at Michigan Tech

Three SOA requirements are met through VEE credit, which students earn by passing these courses with a grade of BC or better

  • Economics: EC 2001

    This is automatically met by students fulfilling the concentration requirements (although students may wish to take the more comprehensive two-semester sequence in micro- and macro-economics (EC 3002/3003) in addition to the one-semester survey EC 2001).

  • Corporate Finance: BUS 4400 and BUS 4410

    It is recommended that students take BUS 4400 and BUS 4410 to fulfill the Corporate Finance requirement.

  • Applied Statistics: MA 4710 and EC 4200 or MA 4710 and MA 4780

The Applied Statistics requirement can be met by taking either EC 4200 Econometrics or MA 4780 Time Series Analysis and Forecasting in addition to MA 4710 (which is already a degree requirement).

Being an Actuary

The leading professional organization for the actuarial profession is the Society of Actuaries. There is a wealth of information at the SOA and Be An Actuary websites.

Actuaries earn recognition as Associates of the Society of Actuaries (ASA) and Fellows of the Society of Actuaries (FSA) by passing a series of exams and completing other requirements, including VEE course work.