Roanoke College’s actuarial science program was recently added to the Universities and Colleges with Actuarial Programs (UCAP) listing. This important certification indicates that the Roanoke College program prepares students for success in the profession, including Exams P and FM, the introductory exams in the field.
Actuarial science is the science of risk, and actuaries analyze statistics to determine risk and rewards in insurance and other career fields. Promotions and salaries in jobs post-graduation are based on passing various exams, including Exams P and FM. “If you do that, you’re very marketable,” said Dr. Roland Minton, M. Paul Capp & Constance Whitehead Professor of Mathematics and Physics. Minton completed the application.
To receive accreditation, Minton had to demonstrate that the actuarial science program was aptly preparing students. “We had to submit syllabi and other materials that indicated that we were preparing them for the exams and covering the proper background material,” said Minton. Since the field involves more than one discipline, Dr. Garry Fleming, professor of economics, sent in syllabi for economics courses as well. “The actuary program has been a good collaboration between math and business,” said Minton.
Actuarial science students will also benefit from new opportunities in the field. The UCAP listing informs Minton of potential internships that students in the major may want to apply for. “This opens up the actuary world for summer work or internships and other opportunities,” said Minton.
Those looking to major in actuarial science can go into the medical industry, the financial industry, or insurance. Actuary is also highly rated in terms of jobs that offer stability, good salary, and good work environment.