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Actuarial Science Program According to John Bragg (a past president of the Society of Actuaries), an actuary is a "professional who is expert at the design, financing, and operation of insurance plans of all kinds, and of annuity and welfare plans." An actuary is a business professional who uses mathematical skills to aid in the design and pricing of insurance policies and pension plans. Insurance companies, government agencies, health service organizations, large companies and consulting firms, employ them. UNC Charlotte offers a program in Actuarial Science leading to a BA Degree in Mathematics. A major in Mathematics for the BA degree with a concentration in Actuarial Science consists of a minimum of 34 semester hours in mathematics and statistics courses and 18 semester hours of course work from the Belk College of Business. In addition all students must meet the general education requirements of the University. For complete information on the Actuarial Science program, consult the UNC Charlotte undergraduate catalog. BECOMING AN ACTUARY An individual becomes an actuary by passing a series of examinations organized by the Society of Actuaries (SoA) for the fields of life and health insurance, employee benefits, and investments and by the Casualty Actuarial Society (CAS) for the fields of property and casualty insurance. There are two designations, an Associateship or a Fellowship, that can be earned in either the Society of Actuaries or the Casualty Actuarial Society. A list of the current requirements for these can be obtained from the home pages or by writing the societies. Society of Actuaries Casualty Actuarial Society The actuarial exam process has undergone a recent revision. For more information on the exam process please go to http://www.soa.org. ACTUARIAL WORK Actuarial Science is an important area of mathematical application. Actuaries typically work for insurance companies or do consulting work for corporations, attorneys, or government agencies. Although the supply of actuarial students is catching up with the perennial demand, there are still plenty of opportunities for well prepared students. What do actuaries do? Actuaries work on a variety of projects in a diverse business environment. For example, actuaries... 1. assess the value of a company about to merge with another business 2. estimate the effect of seat-belt laws in automobile losses and determining the appropriate premium rate discounts. 3. project retirement so that funds are available for those who will retire in 20 years 4. project what the AIDS epidemic will cost life and health insurance companies in 5, 10, and 20 years.
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