Actuarial Resources

Top Universities for

Actuarial Science Program

This page shows you where to study for an Actuarial Science Program in college. You will find a brief list of most North America universities and colleges which provide this prestigious program.

Abilene Christian University
Ruby Rutherford – Senior Administrative
http://www.acu.edu
Arizona State University, Tempe
Don Jones – Director of Undergraduate Studies
http://math.asu.edu/~undergrd/ugraddegprg.html

Armstrong Atlantic State University
Lorrie Hoffman – Professor and Head
http://www.math.armstrong.edu

Ball State University
W. Bart Frye – Assistant Professor
http://www.bsu.edu/math

Beloit College
Paul Campbell – Professor
http://cs.beloit.edu/inside/extracurricular.html

Benedictine University
Jeremy Nadolski – Assistant Professor
http://www.ben.edu/mathhome/index.html

Bentley College
Lucy Kimball – Associate Professor
http://www.bentley.edu/

Binghamton University
Miguel Arcones – Professor
http://www.binghamton.edu/

Bob Jones University
Dr. Gary Guthrie – Chairman of Mathematical Science
http://www.bju.edu/academics/cas/undergrad/divms/
actuarial.html
Boston University
Ms. Lois K. Horwitz – Department Contact
Actuarial Science Website
Brigham Young University
Bruce Collings – Professor
http://statweb.byu.edu/

Bryant University
Phyllis Schumacher – Professor/Chair
http://www.bryant.edu

Should You Study Actuarial Science?

If you are in two minds about studying actuarial science in college, or if you are not certain about continuing pursuing this profession, this blog is for you! You will learn who should study actuarial science, why should you study it, how to study it, and where to study it. First and foremost, I will start out by giving you an introduction to actuarial science.

What is Actuarial Science?

Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. It includes a number of interrelating subjects, including probability, mathematics, statistics, finance, economics, and computer programming. Historically, actuarial science used deterministic models in the construction of tables and premiums.

One Crucial Point!

Studying actuarial science cannot make you an actuary, only passing all actuarial professional exams does. Actuarial science is just a course in college to prepare you to sit for all the professional paper.

Who Should Study It?

As you explore this page, you will learn about who should study actuarial science and know whether you are suitable for this course. Generally, a person who has the following characteristics is ideal for this course.

1. Likes Number

Actuarial Science is a very comprehensive course in the way that it covers Mathematics, Finance, Economics, Accounting, Business Models, Computer Programming and Risk Management. As such, a high aptitude in Mathematics is highly required. To start up the course, you will first need to learn Calculus, Statistics, Probability, and Financial Mathematics at the early stage. Then you will need this fundamental Mathematical knowledge to solve complex actuarial problems. So if you do not like numbers or are not number sensitive, this course is definitely not for you.

5 Elements for Youths to be Financially Successful

I come from a humble beginning and I am the only child in the family.

One time when I was so lonely at home, I asked my mom, “Mom, why don’t you give birth to another brother for me, so I won’t be so lonely at home.”

She replied, “Because we can’t afford another child.”

I deeply know the importance of financial education, especially when it is learned at a much younger age! That is because youths have more time, more energy, and we have more capacity to take risk. 

So I co-founded +Young Money Master www.youngmoneymaster.com to train young adults to be financially savvy! We teach these 5 elements in Young Money Master so they can be financially successful! Let me share with you for a bit.

1^st Element: Money Belief & Habit

Financial achievement is a result. If we want to change a result, we have to start with our mindset. Because it is our thoughts that put forth the action, that produce the result. So if you want positive money results, you gotta have positive mindset, positive beliefs and value.

Once you have positive money beliefs, you gotta develop good money habits because wealthy people all have good money habits. One of the 7 habits that we teach in Young Money Master is the habit of saving before spending. The rich and the poor have a different financial formula. The financial formula for the poor and middle-class is Income – Expense = Saving. They spend first, and if they have any extra money left, they save. Sometimes they spend beyond their means. However, the financial formula for the rich is Income – Saving = Expense. In other words, the rich saves first before they spend. And they always spend below their means. And their savings are eventually for investment. So if you want to be wealthy, build the habit of saving first before you spend.

Poor people have poor money beliefs and habits. Rich people have good money beliefs and habits.

2^nd Element: Money Management

Do you think people who make a million a month are 1000 times smarter than people who make RM1,000 a month? Absolutely not! The difference lies in the way they manage their money! Wealthy people aren’t any smarter; they’re just smarter at managing their money. They know how much of their income should be invested in properties, how much should be in shares, how much in business, and so no. They have a system and the discipline to manage their money. The most important part of money management is separating your income to different accounts for specific purposes. Maybe 20% of your income goes to investment, in which we strongly recommend. Maybe 50% goes to living expenses. 10% goes to education. 10% goes to entertainment. And the remaining 10% goes to charity. You gotta come up with you own percentage based on your preference. Adopting a proper money management system will definitely give you a head start in your financial freedom journey. The challenge is always to make it habitual and manage it with discipline. And you gotta overcome that!

Rich people manage money. Poor people let money manage them.

3^rd Element: Passion

Have you discovered your passion?

Each of us is unique and different. Each of us has our own natural gifts and talents. Each of us has something special to offer the world. But because of the Asian education system and upbringing, most of us tend to have our gifts, passions, and aptitudes buried. That is a great treasure lost. Don’t you think so?

To be truly happy, we must use our gifts to add value to the lives of others. Otherwise, you’ll not be truly fulfilled. Because what’s the point of having so much money but you are not happy? 

So you gotta discover your passion, work on it, and FIND A WAY to get paid for it. You don’t have to compromise between financial success and personal fulfillment. You can have BOTH! In fact, wealthy people always have BOTH! They are doing things they love and get paid for it. Jimmy Choo started with shoemaking. Mark Zuckerberg started with programming. We believe people should eventually have two kinds of incomes – Passive Income and Passion Income. The rest we get rid of it. So find your passion, and find a way to get paid for it!

Average people earn money doing things they don't love. Rich people follow their passion.

4^th Element: Leverage

Leverage in business context means finding people who have what you don’t have and work with them. In reality, it is impossible for us to be good in everything and do everything ourselves. We have to learn to identify other people’s strengths and work with them, be it in business or investment. There is no way you can achieve a massive success if you are all by yourself.

What are the things we can leverage on? There are basically 4, which are RICE. First, R stands for Resources. Resources can be in the form of time or money. I stands for Idea. C stands for Contacts. E stands for Expertise. So find people who have what you don’t have, be it resources, idea, contacts or expertise, and work with them. Give them what they need, and they will inevitably give you what you need in return. That is win-win. If you want to be wealthy, you gotta master the art of leverage.

Poor people try to do everything themselves. Rich people have the best team and system.

5^th Element: Financial Freedom Blueprint

Financial freedom is the ability to live the lifestyle you desire without having to work or rely on anyone else for money. In other words, when someone asks you, “How many days can you survive forward if you stop working tomorrow?” And your answer would be FOREVER. Everyone needs a blueprint to reach this state. Without a blueprint, it is like driving in a foreign place without a map. So you need to set a goal and chart out the step-by-step action plan to achieve it!

Firstly, ask yourself, what kind of lifestyle would you want to live 10 to 20 years down the road?

Second, how much money will it take for you to live the lifestyle you want? Write the total amount of money you need to earn per year.

After this, times the amount with 10. This is the capital you need to live the lifestyle you desire, assuming that your investments give you about 10% return on average.

Now your goal is to raise that amount of capital! Then do your studies on the different investments in today’s market. Read financial news, books or attend a financial program, then slowly one day you will be financially free!

In Young Money Master, we teach our students how to build their step-by-step financial blueprint in detail.

Wealth is the number of days you can survive forward if you stop working tomorrow. – Robert Kiyosaki

When you are sufficiently equipped in these five areas, you can stand head and shoulders above all your peers. With that, I wish you the very best in achieving your financial success!