Welcome to the Oakland University Website for Actuarial Science Students and Faculty: The Website That Displays Plenty of Useful Actuarial Science Information!
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What is Actuarial Science?
Actuarial Science is the scientific application of Mathematics and Statistics to accurately assess risk in the areas of Insurance and Finance. This Science is studied at Oakland University through SBA (School of Business Administration) and CAS (College of Arts and Sciences).
Students who study Actuarial Science at Oakland University minimally receive a Bachelor's Degree in Actuarial Science and a Minor in Mathematics (Details Provided by Oakland University) after graduation. Ultimately, the degrees earned will set students up with a career choice between two paths.
The two paths to take in the career of an Actuary are the CSA (Casualty Actuarial Society) and the SOA (Society of Actuaries), both of which, require passing actuarial exams. Although these tests vary for which path you take, Oakland University prepares students to take tests to help them on the path they wish to choose.
Why Actuarial Science at Oakland University?
The most appealing reason why students study Actuarial Science at Oakland University is due to the fact that there is a 0% unemployment rate for students who graduate with an Actuarial Science Degree. Also, a decent salary throughout a steady career provides an additional incentive. According to the Bureau of Labor Statistics, the median pay for Actuaries is $93,680 per year and is on the rise!
How do I Succeed at this Program at Oakland University?
First: It is recommended by the University Faculty to have AT LEAST ONE exam passed (taken) by graduation. Out of all of the exams possible, the P1 and the FM2 are the ones that are recommended to take first since they are accepted by both CSA and SOA.
Second: Attend Actuarial Science Club Meetings. There are plenty of Actuarial Science students who get together, eat pizza and listen to presentations held by the officers of the club and representatives of companies that would likely hire actuary students as interns (or full time after graduation depending on circumstances).
Third: Study a lot. Even outside of the rigorous coursework, the actuarial science exams recommend 300 hours of studying before taking. Slacking off in this program will not be beneficial.
What if I don't know something about the program, but need to ask someone?