Working
actuaries advance their careers by achieving “Associate” status in their
field. They must pass 5 examinations plus
additional coursework to gain this status.
Upper-level actuarial science majors are actively encouraged to take up
to four of the actuarial examinations in order to fulfill graduation
requirements and to give them a hiring advantage in the marketplace for this
skill set. Passage of at least one SOA
or CAS examination has been a degree requirement in RMU’s Actuarial Science
program since 2011.
The Actuarial
Science program at RMU has several goals regarding actuarial examination pass
rates: 1) At least 80% of its majors
receiving grades of A or A- in its advanced statistics course will pass one
examination within one year; 2) at least 50% of Actuarial Science majors will
have passed two examinations by graduation; and 3) at least 15% will have
passed three examinations by graduation.
The
examination performance of Actuarial Science majors versus the program goals
for the past five years is as follows:
·
For
2010 graduates, 100% of Actuarial Science majors who were high performers in
advanced statistics passed at least one examination within one year; 83% of all
Actuarial Science majors passed at least two examinations by graduation and 17%
passed at least three examinations by graduation. The program thus achieved all three of its
goals for its 2010 graduates.
·
For
2011 graduates, 100% of Actuarial Science majors who were high performers in
advanced statistics passed at least one examination within one year; 93% of all
Actuarial Science majors passed at least two examinations by graduation and 6%
passed at least three examinations by graduation. The program thus achieved two of its three
goals for its 2011 graduates.
· For
2012 graduates, 100% of Actuarial Science majors who were high performers in
advanced statistics passed at least one examination within one year; 89% of all
Actuarial Science majors passed at least two examinations by graduation and 11%
passed at least three examinations by graduation. The program thus achieved two of its three
goals for its 2012 graduates.
· For
2013 graduates, 100% of Actuarial Science majors who were high performers in
advanced statistics passed at least one examination within one year; 76% of all
Actuarial Science majors passed at least two examinations by graduation and 41%
passed at least three examinations by graduation. The program thus achieved all three of its goals
for its 2013 graduates.
· For
2014 graduates, 93% of Actuarial Science majors who were high performers in
advanced statistics passed at least one examination within one year; 88% of all
Actuarial Science majors passed at least two examinations by graduation and 35%
passed at least three examinations by graduation. The program thus achieved all three of its
goals for its 2014 graduates.
The highest
number of examinations passed by any Actuarial Science program graduate during
the time of their enrollment at RMU is four, in 2014.
