Frequently Asked Questions

An actuary uses statistics and probability to measure uncertainty and quantify risk. They look for mathematical patterns and do their best to prevent a company from financial loss and unnecessary risk. Actuaries can have various roles within a company.

• Actuaries have consistently been rated as one of the top jobs in the United States in terms of satisfaction and work life balance by the Wall Street Journal

• The profession is well compensated with generous starting salaries that increase based on the number of exams and years or actuarial experience

• Actuaries are always in demand as the world confronts risk and Actuarial jobs have a high expected growth rate

• Actuaries participate in high-level business decision-making and address problems in many industries

A Bachelors in Actuarial Science or any Quantitative and Statistics heavy major.

Actuarial credentials by passing Actuarial Exams

Coding, modeling and other non technical skills necessary for most Actuarial roles

Join BASS! (recommended but not required)

Actuarial exams are similar to other common certifying exams for their respective professions such as CPA for Accountants and the Bar Exam for Lawyers. Students and full time actuaries take exams given by SOA (Society of Actuaries) and CAS (Casualty Actuarial Society).These two organization certify actuaries to work in the life insurance and casualty insurance industries respectively; depending on the industry you wish to gain certification in, you only need to take the exams given by the respective society.

Yes, Actuarial exams are nutritiously difficult. We understand the difficulties members face during exam preparation and encourage members to take part in club meetings where we do our best to provide sufficient resources to members seeking assistance.

Subscribe to our weekly newsletter at this website's home page or email us at baruchactuarialsociety@gmail.com asking to be added to our mailing list and you'll begin receiving emails from the club within days.

Begin taking exams as early as possible. Ideally, plan out your schedule so that you have one or more exams passed before you begin applying for internships in the fall of your junior year; and graduate with two or more exams.

Many sources recommend 100 hours of studying per hour of exam; i.e.. Exam P (Probability) is 3 hours- therefore it is recommended to study 300 hours for that exam. Club members at Baruch have found that they typically devote 100-150 hours per exam. This, however, is not a rule. Some individuals may need more time while others may need less.

We recommend you apply to internship regardless of your exam progress to gain workplace experience. | It is best to apply with at least one exam passed, but ideally at least two.

Most companies are in agreement that there is no such thing as having too many exams passed. However, if you've passed three or more, you may want to focus your efforts on an internship instead. Companies want to see a balance between exam progress and workplace experience.

Yes! BASS is actively recruits E-board members at the end of each semester! Those subscribed to our mailing list will receive email how to submit an application during that timeframe. If you have not received any emails and are interested in joining E-Board you should message us at baruchactuarialsociety@gmail.com.

Tim Ridenour

Deputy Chairman

(Eve. Supervision)

RM 6-287

Email: Timothy.Ridenour@baruch.cuny.edu

Phone: 646 312-4185

Peter Gregory

Deputy Chairman

(Eve. Supervision)

RM 6-295

Email: peter.gregory@baruch.cuny.edu

Phone: 646-312-4132

The following, in order of importance, is what recruiters look for:

(This list is not arbitrary, but exam is the primary determinant.)

• 1. Actuarial Exams- Sitting(studying) & Passed

• 2. Previous Internships/ work experience- with description

• 3. Education/GPA

• 4. Programming Skills (Excel, Python, VBA, SQL, C++, R, SAS, etc.)

LOOK OUT FOR OUR LINKEDIN/RESUME WORKSHOPS!

The following is a non-exhaustive list of possible exit options:

• Benefits Analysts

• Underwriters

• Statisticians

• Programmers

• Data Analysts

• Financial Analysts

• Portfolio Managers

Actuarial Interview Questions are typically separated into these 4 categories

• ​Industry Question (ex: What is the role of an actuary?)

• Behavioral Questions (ex: What are your strengths?)

• Technical Questions (ex: How well do you know Excel?)

• Puzzle/Brain-teaser/Unusual Questions (ex: How many ping-pong balls can you fit in an airplane?)

LOOK OUT FOR OUR INTERVIEW WORKSHOP FOR MORE IN-DEPTH ANALYSIS OF COMMON INTERVIEW QUESTIONS