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University of Nebraska–Lincoln

Actuarial Science Program

The Best-Kept Secret in Business

Professional Actuarial Exams and VEE Topics

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Professional Actuarial Designation Requirements Supported by UNL Courses

CAS/SOA
Exam/Course
CAS/SOA Description 2007
UNL Courses relevant to
SOA/CAS Exams
Probability (P)
General probability; selected univariate and multivariate probability distributions
Math 106, 107, 208; Stat 380, 462; ActS 401
Financial Mathematics (FM)
Determining equivalent measures of interest; estimating the rate of return on a fund; discounting or accumulating a sequence of payments with interest; determining yield rates, length of investment, amounts of investment contributions or amounts of investment returns for various types of financial transactions; basic calculations involving yield curves, spot rates, forward rates, duration, convexity, immunization, short sales; introduction to no-arbitrage as a fundamental concept in financial mathematics, and introduction to financial derivatives (forwards, options, futures, swaps)
ActS 440/840, ActS 402
*SOA Actuarial Models (MLC) – Life Contingencies Segment
Survival and severity models; Markov Chain models; life insurances and annuities; Poisson processes
ActS 470/870, 471/871, 473/873 (Poisson Processes) ActS 403
SOA Actuarial Models (MFE) – Financial Economics Segment
Interest rate models; rational valuation of derivative securities; risk management techniques
ActS 405, Fina 467/867
Construction and Evaluation of Actuarial Models (C)
Severity models; frequency models; aggregate models; risk measures; Ruin Theory, construction of empirical models; construction and selection of parametric models; credibility theory; simulation
Stat 463; ActS 425/825, 410/810, 473/873 ActS 404

*Exams P, FM, MFE and C are jointly sponsored by the CAS and SOA; Exam MLC is not. The CAS will grant a waiver for CAS Exam 3L to those who pass SOA Exam MLC. The SOA does not grant a waiver for SOA MLC to those who pass CAS Exam 3l.

THE FOLLOWING UNL COURSE ALTERNATIVES HAVE BEEN APPROVED FOR VALIDATION BY EDUCATIONAL EXPERIENCE (VEE) CREDIT. ONLY ONE ALTERNATIVE NEED BE SATISFIED FOR EACH VEE SUBJECT. STUDENTS MUST EARN A B- OR BETTER AND MAY APPLY FOR CREDIT ONLY AFTER PASSING AT LEAST 2 ACTUARIAL EXAMS. VEE DETAILS CAN BE ACCESSED AT THE CAS OR SOA WEBSITES.

VEE Subject
UNL Approved Courses
Time Period
Corporate Finance
Advanced Finance (FINA 461)
1994-2012
Corporate Finance
Advanced Finance (FINA 861)
1994-2012
Corporate Finance
Managerial Finance (GRBA 811)
1995-2012
Corporate Finance
Foundations of Business I (JDEP 181H)
Along with:
Advanced Topics in Business I (JDEP 381H)
2003-2012

2003-2012
Economics
Introduction to Economics (ECON 210)
1993-2012
Economics
One of:
Principles of Macroeconomics (ECON 211)
Intermediate Macroeconomics (ECON 311)
Macroeconomic Models and Applications (ECON 874)
Combined with one of:
Principles of Microeconomics (ECON 212)
Intermediate Microeconomics (ECON 312)
Microeconomic Models and Applications (ECON 873)

1993-2012
1993-2012
1993-2012

1993-2012
1993-2012
1993-2012
Economics
Foundations in Business II (JDEP 182H)
Along with:
Advanced Topics in Business II (JDEP 382H)
2003-2012

2003-2012
Applied Statistics
Actuarial Applications of Applied Statistics
ACTS 430 / ACTS 830

2005-2012

The Application Form and Approval Codes for the above items are as follows:
The Candidate Application for Individual VEE Credit" can be accessed through: http://www.soa.org/education/education-redesign/edu-validation-by-educational-experience.aspx
The necessary approval codes can be accessed at: http://eande.soa.org/vee/VEEDirectoryReport.pdf

SEE WWW.CASACT.ORG OR WWW.SOA.ORG FOR THE REMAINDER OF THE REQUIREMENTS TO ACHIEVE THE PROFESSIONAL ACTUARIAL DESIGNATIONS OF THE CAS AND SOA, RESPECTIVELY.