This semester, Pi Mu Epsilon is holding problem practice sessions for the first actuary certification exam (Exam 1/P), which is required wherever you want to work as an actuary. It is a challenging exam and requires a strong background in probability and statistics. It is recommended you study for 300 hours in order to pass. This is not something you'll be able to pass with just the undergrad math courses here at SU.
If you don't know what you want to be when you graduate, but are enthusiastic about math, an actuary may be a very good choice of profession. It is one of the few jobs outside of academics that requires a good deal of math, and is often rated as one of the most satisfying careers out there. Actuarial Science majors are actually statistically the least unemployed persons of all majors, so you can enjoy a lucrative and secure job in life. Even if you are only vaguely interested, it may be worthwhile to come and try a few practice problems with us and see how you feel about it.
For those of you who don't know, you are probably wondering by now what an actuary is. An actuary is a person who statistically analyzes the financial impacts of risk and uncertainty. Generally they are employed by insurance companies to determine things like How much money do we need in reserve to pay off accidents that occur?, Given a few characteristics of a person, what should the price of their policy be?, What is the likelihood of an accident?, etc. There are 9 increasing challenging exams you can take over the course of your career (each one usually accompanied by a raise, should you pass), so you are encouraged and almost required to be active as a mathematician outside of your work as well, in order to study and pass. Usually at least one is required prior to being hired, so it is best to start as early as possible. I am writing this as someone who intends to become an actuary, so if you have any questions I will do my best to answer them.
If you are at all interested in being an actuary, or don't know what you want to do with your math degree, or are curious as to the kinds of problems on the exam, or even if you just like doing math problems for fun, please email me as soon as possible, so we can decide on a time for this weekly study session.
-- Joe Andrade, jbandrad@syr.edu
