after a
Bachelor’s Degree
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If you want to become an actuary — or the associated new-in-2007 designation, Certified Enterprise Risk Analyst (CERA) — and you have earned your Bachelor’s degree but it is not in Actuarial Science, then FSU Mathematics offers several paths, extending its well recognized Actuarial Science undergraduate program. These paths are based on FSU Math's well recognized Actuarial Science undergraduate program. These follow the requirements of the Society of Actuaries and Casualty Actuarial Society, and the program provides not only Advanced Undergraduate education, but is also classified Graduate — Education and Research. For each of the degree options students will, as part of their programs, be given the opportunity to qualify for all three of the SOA/CAS VEE credits (Finance, Economics, and Applied Statistics). It is convenient for some students to to take some courses in the program as a Special Student, possibly converting to degree status after a term or two.
Since it is necessary in order to be competitive in today’s job market that you pass some actuarial exams while in school, FSU ActSci offers targeted help. The courses include material in the syllabus for all of the preliminary actuarial exams with optional study beyond. As a new feature begun in 2007, FSU now offers 20-hour special seminars for exams P/1, FM/2, and MLC; these are developed and presented by Dr. Stephen P. Paris, the Coordinator of Actuarial Science. These 4 basic exams are required for all actuarial designations, including the newest, CERA.
FSU ActSci organizes opportunities to help you find a job before you graduate: Students join and participate most Thursday evenings in the presentations of the Florida State Student Actuarial Society (FSSAS). Presentations are by practicing actuaries with government or insurance, consulting, and financial firms who talk with our actuarial science students. The Thursday presentations are usually followed by Friday interviews for summer internships and/or full time positions at the respective actuary’s company. The interviews are set up by the departmental advisor in the Math Conference Room. Many job postings to the student aliases are made by faculty and advisors; they have wide contacts and receive queries from diverse actuarial, governmental, and financial sector employers.
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OPTIONS: We invite you to think carefully about which option best meshes your background with your goals. For some students it is important to earn a master’s degree; others wish to enhance job market preparation as rapidly as possible. In each case, the basis for the first four actuarial exams and the three VEE credits are completed. If after considering these options you have questions, please contact us.
1. Second Bachelor’s degree — BS in Actuarial Science: This does not require graduate admission or GRE scores. To facilitate rapid initial registration, U.S. citizens and permanent residents may begin this in Special Student status. A student whose original bachelor’s degree was in mathematics with some calculus-based probability course work may be able to complete the 30-hour requirement for the BS in Actuarial Science in one year. However, students without prior course work in any of the areas of economics, finance, and/or risk management may take longer, as will those without strong undergraduate mathematics or suitable undergraduate foreign language credit. To get VEE credit in all three areas, students may need to complete more than the minimum of 30 semester hours. Since each student enters with a different combination of courses, plans for completion of the second bachelor’s degree are designed optimally for each.
2. MS Degree — two options are available: An MS option is usually desired by the academically strong student whose undergraduate major was not Actuarial Science but who wants to prepare for the profession with a graduate degree with some long term flexibility, rather than a second bachelor’s degree. These options are 2-year programs open to students from a variety of backgrounds who qualify for departmental graduate admission. In each option, the basic MS requirements are satisfied and the remaining hours comprise a "concentration" in actuarial science; early planning is essential to fit individual backgrounds to the requirements. During the first year and summer (a 2- or 3- month summer Internship is encouraged), the student participates in the P/1 and FM/2 seminars and is encouraged to sit for these exams. During the second year, students include as graduate level mathematics courses MAP 5177-5178 (Actuarial Models; Advanced Actuarial Models, Credibility, and Simulation). Students have opportunity for some relevant electives from the College of Business in the Departments of Finance, and Risk Management and Insurance.
(a) Financial Mathematics MS, Actuarial Science Concentration: The student completes the listed requirements — see http://www.math.fsu.edu/finmath/. Pursuing this "concentration", students take a fixed schedule of courses during the first year enhanced by the special first two actuarial examination topic seminars. The first year also provides courses for the VEE credits. In conjunction with the departments of Finance and Risk Management in the College of Business, a plan is being developed for study, and when it can be developed, a new course focused toward the Advanced Finance/Enterprise Risk Management Exam and the Financial Reporting and Operational Risk Module of the CERA. This option, earning the MS in Financial Mathematics with an actuarial concentration, is a good CERA preparation while providing more depth of knowledge for applications in the financial sector than is available in most actuarial programs.
(b) MS in Pure or Applied Mathematics (utilizing a Directed Program of Study): This option involves completing most of the required courses in either the pure or applied master’s program, with a few of the required courses replaced by the module of courses directly related to actuarial science. This option could be invoked to have more flexibility than the above Master’s Degree in Financial Mathematics and is attractive for students who are not sure about their career path — particularly if they might be interested in community college level teaching. The option must be planned at the beginning of the program, and would typically be developed by the student and Dr. Paris, in association with the Associate Chairs of Mathematics, Professors Bettye Anne Case and Steven Bellenot.
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CONTACTS: Ms. Esther Diaguila is the departmental academic advisor, and for beginning as a special student or for the degree options you should write her first: advisor@math.fsu.edu. For the graduate options, you will be put in contact Dr. Paris and/or Dr. Case.
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Last modified: 25 June 2008
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