Anyone who wishes to obtain professional standing as an actuary must successfully complete a series of examinations distributed by the Society of Actuaries. Detailed information and application forms can be found at www.soa.org.
All of these examinations can be written at Memorial University and are offered several times a year. Examinations P and FM can be taken in any order and are often written by students in their third and fourth years to improve their chances of obtaining suitable employment after graduation. Remaining examinations are written by students and employees of actuarial firms, insurance companies, government, etc., in order to improve their qualifications.
Courses offered by the Department of Mathematics and Statistics will help prepare students for examinations P and FM, but a great deal of individual study is also needed.
Before beginning preparation for Exam P (Probability) the student should have completed the following course (or equivalent) at Memorial University:
STAT 2500 or STAT 2550
Before beginning preparation for Exam FM (Financial Mathematics) the student should have completed the following course at Memorial University:
Part of the certification process is a program known as Validation by Educational Experience (VEE). Candidates can satisfy the requirements in Economics by obtaining a grade of B or better in each of Economics 2010 (Introduction to Microeconomics) and 2020 (Introduction to Macroeconomics). The requirements for Corporate Finance can be satisfied by obtaining a B or better in Business 4500 (Financial Management I) and 6510 (Investments). The requirements for Applied Statistics can be satisfied by obtaining a B or better in STAT 3521 (Regression) and 3540 (Time Series).
For further information, please contact:
Dr. M. M. Parmenter