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ACTUARIAL SCIENCE CLUB
LETTER
Greetings, My name is Josh Touyz and I am the current newsletter editor. At the beginning of this year I set out on a grand plan for reinvigorating the newsletter. After several emails with the current president and vice president (Terrence Chin and Ryan Cuscito, respectively) I was given the go ahead to produce something that was unusual and different. Accordingly, herewith is the first issue of the spring 2009 newsletter. In it we go about presenting the information and content a bit differently from past years. As you peruse this newsletter there are a couple of things you should keep in mind, namely: I. Digitization of the newsletter For this semester we have digitized the newsletter which you will now be receiving by email. This allows us to: 1. Reduce waste 2. Reduce cost 3. Target those interested in club activities 4. Efficiently distribute information II. Early delivery In the past the newsletter has not been regularly put out due to either printing or timing restrictions. Putting together a smaller more frequent newsletter, allows us to regularly work at it, rather than just have one semi-complete end of term rushed project. III. Accountability Producing a more regular, yet smaller newsletter, will further allow for those who wish to become more actively involved, to become involved, but also hold them accountable for missed deadlines and due dates. However as students our schedules can be erratic. I believe we should aim to put out 3 mini newsletters with a realistic goal of having two out by the end of term. IV. Our current goals Our current goal is three fold, we wish to inform, advertise and create interest in our club’s social, educational and professional activities. Hopefully, in this newsletter we have accomplished just thatinformed, advertised and stimulated interest in our club and its activities. I will conclude this letter by saying that the University of Waterloo has one of the best Actuarial Science clubs in North America. As the newsletter evolves and takes on a different role in our clubs activities I hope to see more involvement in its production so that one day it may be considered among the best, if not the best, student run actuarial newsletter. Wishing you all a successful semester, Josh Touyz UW Actuarial Science Club Newsletter Editor-Spring 2009
EDUCATION
PROFESSOR
Hello students, I hope you are all having a great spring term! As of July 2008 I replaced Professor Hardy as the Associate Chair of Actuarial Science, who served in this position for several years. Since the beginning of my term, along with my colleagues and our undergraduate advisor (Alice Pfeifer Hanov), I've continued to look after our programs and ensure that we continue to offer the best possible actuarial science training to our students. As a result, a number of changes have been implemented or soon will be. These include:
As of Winter 2010, 400-level courses will be limited to students in actuarial science or relevant math/business programs. As I'm sure you know, a lot of these courses often fill up very quickly and we want to better control who registers for them. Creation of a new 400-level course on Advanced Life Insurance Practice (ACTSC 455). This course might be offered as early as next winter (2010). Our plan is to offer this course in alternate years with ACTSC 453, depending on demand and teaching resources. Restructuring of ACTSC 363 and ACTSC 462, to reflect the new syllabus being introduced at the CAS level. Hence ACTSC 363 will become ACTSC 463 and will focus on loss reserving, while ACTSC 462 will focus on ratemaking. ACTSC 462 will be offered as it is for the last time in Winter 2010. ACTSC 363 is offered as DE course this fall and perhaps one last time in the Spring 2010 (to be confirmed). o Note that if you take ACTSC 363, you will not be able to register in the new ACTSC 463 or in the new version of ACTSC 462, as the current material in ACTSC 363 will be covered in these two courses. The criteria to be admitted in actuarial science has been revised and clarified so that students attempting to enter after 2A or 2B are subject to more uniform conditions. We have eliminated the probation term for students who fail to satisfy our degree requirements (mostly applies to maintaining the 65% major average).
More changes are coming in the near future. Among them include:
The Canadian Institute of Actuaries is considering the possibility of implementing an accreditation program for Canadian Universities. This might start as early as September 2010. In the next few weeks, we plan to create an Actuarial Science News webpage linked to our departmental website. It will be updated frequently and used to keep you, the students, informed of the program. In particular, since ACTSC 453, 455 (new course), 462 and 463 will not have a specific term of offering in the calendar starting in 2010, we will use the webpage to let you know which of these courses we are planning to offer in a given year and when. The webpage will also be used to keep you informed about relevant talks and events that are happening.
I look forward to continue helping the Actuarial Science Club grow and furthering exchanges between staff and students within the actuarial science group. Christiane Lemieux, Ph.D., A.S.A. Associate Professor Associate Chair for Actuarial Science clemieux@uwaterloo.ca
LETTER
ACTUARIAL SCIENCE CLUB
EXECUTIVE
Hi everyone. I'm Terrence Chin and I'm your President for the Actuarial Science Club this Spring Term. My executive and I have a strong vision for this term: we hope to provide you with value, a sense of community and support in your actuarial pursuits. We're changing to reach more students, with academic events designed to provide knowledge and social events to improve your network of contacts. I have confidence that the Actuarial Science Club can provide you with relevant information that will help you be well on your way to becoming a full-fledged professional actuary. We have seniors and juniors on the executive team, with all types of work and exam experience, able to answer your questions about course selection and exam procedures. Take advantage of us as resources as you navigate the tough economy in search of employment. Drop by and visit us in MC 3030 - I look forward to meeting and speaking with all of you. Take it easy.
Hello! My name is Ryan Cuscito, I’m in 4A and I am your ActSci Club Vice-Pres. This term represents some firsts for me – it’s both my first summer on campus and the first time I’ve been involved as an executive for the ActSci club! As the VP, I’ve mainly been working with the President on the high level operation of the club and being a liaison with the Dept. If you have any questions about exams, co-op, international co-op placements, or any other questions you think a senior student can answer, feel free to drop by the ActSci club during my office hours! Now that SOA exams are over, I hope we can all begin to fully enjoy the summer through some of the exciting events that the ActSci club is hoping to host this term. Keep your eyes posted for announcements, particularly for the big BBQ we’re hoping to hold in July! I also encourage you, both junior and senior students, to get involved with the mentorship program. The program was revamped last term to much success – I know everyone involved will have a lot of fun. If you have any suggestions or comments you’d like to make about the club, please let us know – we’d like to see the club become a more prominent tool in building a stronger UW ActSci community and your feedback will help us realize that long term goal. I hope you’ll be able to make it out to some of the exciting events that we are planning! I look forward to meeting you over the term -Ryan
Hi everyone, I’m in my 2B term and I’m the treasurer of the club this term. I’m from Vancouver and before that, from Korea. The club has a number of useful information sessions and events planned out for the term, so come out and meet your fellow ActSci students! Feel free to drop by the office as well, to ask questions or just to hang out with other students. Looking forward to meeting you all.
Hello fellow ActSci student. I hope the term is coming along well. I'm Arpita, a third year co-op student in ActSci. I'm also the Secretary for the UW ActSci club. We have many great activities planned for you this term such as a barbeque and beach volleyball tournament that is coming up in July. If you have any ideas please feel free to drop by at the ActSci club office during office hours. Have a great term!!
Hey Guys! My name is Asha and I am the Event coordinator for the Actsc Club for the spring term. I am currently doing my 3B term in Actuarial Science. As an Event coordinator, I plan to put together a number of educational and recreational activities which would help to bring together both students and faculty in Actuarial Science. Our goals for the term include expansion of club, increased involvement of students and improved student-faculty interaction. It is very important to have a sense of community and oneness and we plan to create an environment where members can develop a feeling of belonging and identity. We also have a number of fun events planned for the summer such as a BBQ night, volleyball tournament and games night. We encourage you to come out and attend our events; it honestly is a great way to meet new fun people like yourself! You are our motivation, so please give us your support and let’s have an awesome spring term!!!
My name is Alice and I’m currently in my 2B term. During my spare time, I usually spend it eating, shopping, going out and gossip sites =). Oh and sleep of course, even though our program doesn’t allow us to do this very often. My position for this term on the ACTSC Club is the event coordinator. In term of experiences, I have planned many fashion shows and dances in the past. Some have turned out great and there are also times when the event wasn’t very successful, but I have learned from those mistakes. As for this term, we have planned many academic, learning and social events for all the club members! It’s going to be a great semester and we are all so excited to meet everyone!
My name is Na Ta, I’m a final year student studying Actuarial Science. It has been an awesome experience for me to fill in the role as one of the publicity directors for ACTSCI Club this summer! For as long as I can remember, I have always enjoyed scouring the Internet for fun pictures, text layouts and unique themes. This term, I can finally turn my obsession of pictures and art into poster-making for our ACTSCI Club with my great partner Ritika! I learned a lot from all the previous execs at ACTSCI Club and I want everyone in the Actuarial Science program to love our club as much as I do. I think the sweetness of our club definitely depends on how many people show up at our events. Therefore, we need to attract people through our fantastic posters and well-run events! We need to keep our club professional yet improve the sense of community and pass on this idea to as many people as we can. Hence, I brought up the idea of “grow with us” for the summer. Also, I would love to see in the near future more and more ActSci students enjoying and benefiting from our events!
Hello everyone, I am glad to be one of the two publicity directors of the Actuarial Science Club. As with many of the executives in the club, I am a very approachable and love meeting new people. This term, I want to help the ActSci Club develop an exceptionally large sense of pride of community amongst the actuarial science students. All of us in the executive committee this term will contribute in our own ways to promote the motto of the club, “Grow with us”. My contribution will be to not only encourage the events held by the club this term, but also change the image of the club in a positive manner. You should definitely come see us during our office hours if you have any questions about anything, or just to chat! I am sure this term will be a successful (and fun) one for all of us! Look out for our events.
Hey everyone! My name is Niya Sang (2BAactsci student) and I am one of the mentorship coordinators for the club this term. Did you know that the first mentorship program is coming up very soon? What’s exciting about this term is that we are planning to invite various professors and employees from the insurance industry to join us in the mentorship program. Don’t feel surprised if they become your mentors. So Come out and sign up, I can’t wait to see you all in the mentorship event.
Hey everyone! I am one of your mentorship program coordinators for this term. I am a Math/Business Double Degree student currently in my spring co-op term. I enjoy yoga and poetry (yes, I love math and poetry). I understand that in our academic and early career path, we have many questions and uncertainties; we are not all perfectly familiar with the actuarial field, and we would like to meet people in the industry. This is why mentorship is important. This summer in the Act Sci Club, we bring together student, professors and professionals. As the program coordinator, I can promise that whether you are in your first or last year, you will find your match, and gain some valuable experience! So join us, and I look forward to a great semester with you!
I’m Arthur da Silva, a 2B Math & Business Double Degree student planning to major in Actuarial Science. In past co-op terms, I have worked at Manulife in their Group Savings and Retirement Solutions Pricing Department and at a logistics company in Vancouver in a nonActuarial role. In regards to the UW ActSci club, I am the webmaster for the term, in which I am responsible for maintaining the club website. I’m confident that Spring 2009 will be a great term as the UW ActSci Club has many great ideas planned for the term. As webmaster, I plan to add more resources to the club website in order to help ActSci students looking for relevant information about the career. I am hoping that the club website will be a place that ActSci students keep coming back to for useful information. I hope to see you all at our events and our office hours during the term and in future terms!
Hi everyone! I’m a 4th year Math/Bus double degree student majoring in Actsci. This is my seventh term (wow, that’s a lot...) serving on the Actsci Club exec. I guess I keep coming back because I love it, and I love the people I get to meet every term! This term I am serving as Office Manager. The club office has been long due for some reorganization; I swear there are things from prehistoric times in there. It’s not the most glamorous job, but I’m a huge organizational nerd... I’m really looking forward to another great term (I’ve always thought the summer terms were the most fun terms on campus) and all the new people I will meet. Getting involved will definitely make your term a lot more enjoyable! (I speak from personal experience) Oh, and do make sure to drop by the office near the end of the term to see how much more spiffy it will be ;)
Hey there mathies!! My name is Kate Battista and I am co-office manager for the Spring term, along with my good friend Amy Gao. I am currently in 4B of the Math/Business Double Degree program with an Actuarial Science major, and spent my last work term with Economical Insurance. This is my first time as an exec for the club and I am really looking forward to doing my part in making this summer great!! My plan this summer for the office is to make it a more inviting place for members to drop by, pick up a manual, do homework, or just come hang out with one of our friendly execs! The execs have lots of experience in the actuarial world and can share some great advice on SOA exams, co-op positions and math courses. In addition to office hours, we also have some great events lined up for the summer, so be sure to come and check them out!
CLUB
PRESENTATION
INDUSTRY
ON WEDENSDAY MAY 27th, UW ActSci professors and students were honoured to welcome a group of distinguished representatives from the Dominion of Canada Insurance Company. The group included President and CEO George Cooke, VP and Chief Actuary Nathalie Begin, AVP Erika Schurr, HR Specialist Sarah Barkwill, and UW Actuarial graduate Brett Boadway. FOCUS The main focus of the visit was a presentation by President George Cooke to students on the value of effective communication skills in the workplace, and how great communication skills are essential for an effective working environment. Current students really need to think about developing their communication skills now before they enter the workplace, and continue to develop those skills as their careers progress. PRESENTATION After the presentation, students were given an opportunity to ask the Dominion representatives questions in an open Q&A session. Many of these questions centered on the direction their careers have taken and the general industry view of the actuarial profession. As George Cooke does not have an actuarial background, many interesting answers were given! Prior to the presentation, UW President David Johnson hosted a lunch to celebrate the recently announced pledge from Dominion Insurance of Canada to continue its actuarial scholarship program for the next five years. This was a great opportunity for students, professors, and industry members to come together over a highly positive announcement for current and future UW ActSci students! ALL IN ALL All in all, it was a very successful event, and the students who attended the presentation definitely came away with a deeper understanding of the importance of communication in the workplace and a more involved introduction to the Dominion of Canada Insurance Company. Thank you to those who attended and asked questions, and a big thank you to the Dominion representatives who took time out of their busy schedules to come to Waterloo. Look out for announcements of more industry events throughout the term!
CO-OP
PRESENTATION
INDUSTRY
ON MAY 29th 2009, the Manulife Financial Campus Ambassadors held an Information Session at the University of Waterloo. Many people may think that Manulife would send full-time employees and HR representatives to speak at their information sessions, but instead the session was run by seven students, all hailing from University of Waterloo. The Campus Ambassador info session is fundamentally a way for current and past co-op students to relay their experiences at Manulife to students interested in applying for a co-op position (or pursuing a career) at one of Manulife’s many centers. The talk was an informal Q&A discussion, which was divided into 4 sections, namely: Student Experiences, Manulife Locations, Co-op Group Projects and “Lunch and Learns.” Student experiences Work Experience At Manulife, co-op students are given a group project at the beginning of the term and are independently left to develop it over the course of their work term. At the end of the term they present their results to a group of senior managers. Working on a project independently allows students to develop their strengths. The assigned projects are engineered to engage students but are tailored to their level competence and experience. Social life Manulife Campus Ambassador, Alysha Voigt, best summarizes the general consensus of co-op students by saying: “it was depressing going back to school because my term at Manulife was such fun”. Between groups excursions, the many social activities and the “incredibly comfortable chairs, with lots of buttons” Manulife co-op students maintain a good work-life balance. Locations Manulife is an international company that has offices in various locations around the world, including but not exclusive to Hong Kong, Shanghai, Boston, Tokyo, Toronto and our very own Waterloo. The two main cities to which co-op students are hired tend to be Toronto with offices located at 200 Bloor Street East and 2 Queen Street East, and Waterloo with offices located at 500 King Street, 25 Water Street South and 380 Weber. Interestingly, the 500 King street location in Waterloo is the Manulife headquarters for Canadian Division and is located just south of Conestoga mall.
There are possible opportunities for students who have worked for Manulife before, to transfer to international locations in future work terms. Both Jeremy Wing and Ryan Cuscito note that working in Boston was quite an experience. In total, Manulife has 50-60 co-op students in Waterloo and Toronto each semester into Actuarial, Information Systems and Finance roles. Co-op projects UW students terming at Manulife are a part of one of the two main co-op programs; the Actuarial Co-op Program or the Information Systems Co-op Program. Although the work between the two groups is different the paradigm through which Manulife develops its co-op students is the same. Lunch and Learns The lunch and learns are a time for students and staff to sit together and talk. They provide an informal forum to learn about proper business etiquette as well as current operations in other sectors of the company. For more information about Manulife Financial please visit: www.manulife.com
Manulife Financial is a leading Canadian-based financial services group operating in 19 countries and territories worldwide. Through our extensive network of employees, agents and distribution partners, Manulife offers clients a diverse range of financial protection products and wealth management services. The Company operates in Canada and Asia through Manulife Financial and in the United States primarily through John Hancock Actuaries and actuarial students play a central function in building and maintaining Manulife's success through product development, business valuation and corporate oversight roles. We take great pride and responsibility in developing our actuarial professionals. Enjoy the Benefits of Joining the Manulife Actuarial Development Program
Diverse work experience and career growth opportunities via our rotation program Development of our actuaries into business leaders Competitive total rewards package Actuarial fellowship support including provision for professional course fees, study time, exam materials and preparation seminars Salary increases upon passing exams Social and professional networking events organized by members
Opportunity to gain international work experience in many departments and operations including:
Corporate Actuarial Risk Management Individual Insurance Individual Wealth Management Savings & Retirement Services Group Benefits Affinity Markets Reinsurance and more…
We are always seeking talented and motivated actuarial students and professionals and encourage you to consider a career opportunity with us. Apply today at www.manulife.com/oncampus.
CLUB
RECRUITMENT
SOCIAL EVENT
THE UW ACTUARIAL SCIENCE CLUB SUCCESFULLY KICKED OFF THE SPRING TERM with a Coffee House. The coffee house was a three day event (8th of June to the 10th June) in which actuarial science club executives served professors and students free coffee with biscuits while informing passer-bys of the clubs activities, mandate and modus operandi. The purpose of the event was three fold, namely: 1. It was meant to inform spring students of the clubs activities and mandate 2. Recruit new students to add to the clubs membership 3. And advertise the social, educational and professional activities that will be hosted by the Actsci throughout the spring term. The club successfully recruited just under two dozen new members while encouraging interested students to drop by our off to sign up. It further helped breach the information gap between current actuarial students and those considering the major. Throughout, the event execs were available to answer questions concerning the Actuarial Science field and what it entails to become a successful actuary. Pertinent and relevant questions were asked concerning the rigorous SOA exam system and current job prospects for actuaries in the economy. Some questions and answers include: 1. What does an actuary do? What is an actuary? An actuary is a professional who uses their advanced knowledge of mathematics, business and contingent events to help mitigate and manage risk. 2. How many actuarial exams are there? There are 9 exams in total if you are pursuing the SOA (Society of Actuaries) route There are 10 exams in total if you are pursuing the CAS (Casualty Actuary Society) route There are 5 joint preliminary which are exam 1/P. 2/FM, 3/MLC, 3/MFE and 4/C. 3. When is the best time to start taking the exams? It varies on the individual but the common belief is that people should get the exams out of their way as soon as possible. Most UW actuarial science students graduate having completed 3 or 4 exams. 4. What can the UW Actsci club do to help me prepare for these exams? The actuarial science club has several study manuals available to members. They can be taken out two days at time to help prepare candidates for upcoming exams. 5. What is the current job market like for actuaries? For those interested in our upcoming activities and joining our club feel free to drop our office at MC3030 during office hours, where will do our best to answer any of your actuarially related questions.
EDUCATION
EXAMS
IN THE UPCOMING FALL, several changes will take place on the syllabi for the preliminary SOA exams. In what follows, I will analyze these changes and indicate which topics we should pay more attention to in preparation for the exams. I will focus primarily on Exam MFE/3F and Exam 4/C. CHANGES IN THE EXAM MFE/3F SYLLABUS: The following table summarizes the major changes in the syllabi between the spring 2009 and future fall 2009 sitting. The major changes that transpire include adding and dropping from the required textbook “derivative Markets” by McDonald and reevaluation of learning outcomes.
Spring 2009 Changes 1. in required readings 2. 3. 4. 5. 6.
7. 8.
9. Changes in the Learning Outcomes
Fall 2009
Chapter 10: drop “Options on Commodities” page Chapter 18: add the whole 334 chapter; Chapter 11: drop Section 11.5, but add Appendices Chapter 19: add Sections 11.A and Appendices 11.B 19.1 – 19.5 Chapter 12: add Appendices 12.A Chapter 13: add Appendices 13.B Chapter 20: drop “Finding the lease rate” page 669 Chapter 21: add Sections 21.1 – 21.2, excluding a) “What If the Underlying Asset Is Not an Investment Asset” on pages 668 – 690 b) “The Backward Equation” on pages 691 – 692 c) The paragraph on page 692 that begins with “If a probability …” Chapter 22: add Section 22. Chapter 23: add Sections 23.1 – 23.2, excluding a) “ Exponentially Weighted Moving Average” on page 746 Chapter 24: add Appendix B.1 and Appendix C No explicit change Added rational valuation of derivative securities: Properties of a lognormal distribution Explain the Black-Sholes formula as a limited expected value for a lognormal distribution Added simulation: Simulate lognormal stock prices Use variance reduction techniques to accelerate convergence”
*References: SOA Syllabi
To see more clearly what the SOA exam committee is expecting from the candidates, let’s compare the changes in the Spring 2007 Exam, and 2008, 2009 Sample Questions as well:
Number of Questions The number of questions from each topic
Distribution of topics in Spring 2007 Exam
Distribution of topics in the Spring 2008 Sample Questions
Change of topics in Fall 2008 Sample Questions
Change of topics in Spring 2009 Sample Questions
Change of topics in Fall 2009 Sample Questions
19
20
31
49
49
(add #21 – 31)
(add #32 – 49)
Chapter 9: Chapter 10: Chapter 14:
2 1 2
Chapter 9: Chapter 10: Chapter 12:
1 2 2
Chapter 20:
2
Chapter 24:
4
Chapter 13: Chapter 14: Chapter 20: Chapter 21: Chapter 22: Chapter 24:
2 1 6 1 1 1
Put-call parity Binomial trees: Black-Scholes: Delta hedging: Exotic options: Ito processes: Interest rate models:
1 4 4 2 2 2
Not on syllabus:
1
3
Put-call parity Binomial trees: Black-Scholes: Delta hedging: Exotic options: Ito processes: Interest rate model:
2 3 4 1 2 5 2
No change
*References: SOA Syllabi; Exam MFE/3F ASM As we can see, there were only 2 questions on Brownian Motion and/or Ito Process (from Chapter 20) in the spring 2007 Exam. However, from 2008 on, more questions on this topic have appeared in the sample questions. Although the distribution of topics in the sample questions is not necessarily an indication of what is likely to occur on the real exam, it does tell us what the exam committee wants us to focus on. Stochastic calculus and partial differential equations (chapter 20 and some of chapter 21) are becoming increasingly important, as shown from the changes in the spring 2009 sample questions. That is there has been an increased focus on Chapter 21 which involves complicated and equations involving The Black-Scholes formula and partial differential questions. Also, the Exotic Option (from Chapter 14 and 22) is playing a more important part, as shown in the addition of Chapter 22 in the syllabus. So you may want to pay more attention to the All-ornothing options and the Barrier options. As for the Interest Rate Models (from Chapter 24), they are one of the sources of the most difficult questions in the exams. As you will see when you work on the related sample questions. The last but not the least, the Simulation part (from Chapter 18 and 19) is the biggest change in the fall 2009 Exam MFE/3F. It is originally the required material in the Exam C/4. All in all, the difficulty of Exam MFE/3F is significantly increasing, reflected on its increasing emphasis on the calculation and synthesis.
CHANGES IN EXAM C/4 SYLLABUS: There have been no significant changes in the Exam C/4 syllabus; although certain learning objectives and outcomes have been changed. Below these changes along with changes in required readings in “Loss Models” by Klugman et al.(3rd edition) are summarized: Changes in the Learning Outcomes 1. Drop A.8: Explain the properties of the lognormal distribution 2. Drop A.9: Explain the Black-Scholes formula as a limited expected value for a lognormal distribution Both of the above have been added to the Exam MFE/3F syllabus 3. Add How to apply zero-truncated or zero-modified distribution to an application given the parameters 4. Drop Ruin Theory 5. Drop : How to apply the related concepts in estimating failure time and loss distribution 6. Add Schwarz Bayesian Criterion; 7. Drop Simulation 6 – 9, all of which has been added to the Exam MFE/3F syllabus Changes in the required reading materials: 1. 2. 3. 4.
Drop Chapter 10 Change from “Chapter 15, Section 15.1 – 15.3, 15.6.1 – 15.6.3, 15.6.6” to “Chapter 15, Sections 15.1 – 15.6.4, 15.6.6” Drop Chapter 17 Change from “Section 21.1 – 21.2.3, and 21.2.6” to “Sections 21.1 – 21.2
In conclusion, all of the changes in the upcoming exams occur in exams MFE/3F and 4/C. No changes have occurred in the syllabi for exams 1/P, 2/FM and MLC/3L and most likely will not for a while since these are time tested topics. The changes occurring for exams MFE/3F and 4/C do indicate however that there is an increased need for actuaries to better understand financial engineering concepts. With the SOA pushing the new CERA title for actuaries these changes seem like a natural transition into a new actuarial age where derivatives will play a heavier role in the actuarial profession
Exam
Section(s)
Day
Date
StartTime
EndTime
Location
ACTSC 221
001
Tuesday
9:00 AM
11:30 AM
PAC 6
ACTSC 231
001,002
Wednesday
12:30 PM
3:00 PM
PAC 1,2,3
ACTSC 232
001
Saturday
4:00 PM
6:30 PM
RCH 301,302
ACTSC 331
001
Tuesday
9:00 AM
11:30 AM
PAC 5
ACTSC 371
001
Wednesday
4:00 PM
6:30 PM
PAC 1,2,3
ACTSC 372
001
Wednesday
7:30 PM
10:00 PM
PAC 4,5
ACTSC 431
001
Monday
12:30 PM
3:00 PM
PAC 5,6
ACTSC 432
001
Saturday
9:00 AM
11:30 AM
RCH 302,305
ACTSC 445
001
Friday
9:00 AM
11:30 AM
PAC 7,8
ACTSC 831
001
Monday
12:30 PM
3:00 PM
PAC 5,6
ACTSC 832
001
Saturday
9:00 AM
11:30 AM
RCH 302,305
ACTSC 845
001
Friday
August 11, 2009 August 12, 2009 August 8, 2009 August 11, 2009 August 12, 2009 August 12, 2009 August 10, 2009 August 8, 2009 August 14, 2009 August 10, 2009 August 8, 2009 August 14, 2009
9:00 AM
11:30 AM
PAC 7,8
Office Hours Time 9:00 9:30 10:00 10:30 11:00 11:30 12:00 12:30 1:00
Monday
Na Ta Na Ta Alice Xu Alice Xu Alice Xu Alice Xu
Tuesday
Wednesday
Arpita Patel Josh Touyz Josh Touyz Brian Woo Brian Woo Brian Woo Brian Woo
Friday Terrence Chin Terrence Chin Terrence Chin Terrence Chin
Asha Suresh
1:30
Asha Suresh
2:00 2:30 3:00 3:30 4:00
Arthur da Silva Arthur da Silva Arthur da Silva Arthur da Silva Ryan Cuscito
Niya Sang Niya Sang Niya Sang Niya Sang
Thursday Amy Gao Amy Gao Arpita Patel Arpita Patel Arpita Patel Kate Battista Kate Battista
Ritika Bhargava Ritika Bhargava Ryan Cuscito Ryan Cuscito Ryan Cuscito