Actuarial courses approved to meet professional standards

Courses in Northwestern’s actuarial science program have been approved to meet standards in applied statistics, corporate finance and economics required as part of the professional process for becoming an associate actuary.

The approval by the Validation by Educational Experience Administration Committee, representing the Canadian Institute of Actuaries, the Casualty Actuarial Society and the Society of Actuaries, means that NWC students who attain a grade of B- or better in the approved courses will receive credit toward meeting the requirements to become an associate actuary. Other steps in that process include passing seven exams and taking a course on professionalism.

“This is an affirmation that we’re offering a high-quality actuarial program,” says Dr. Tim Huffman, associate professor of mathematics. “The approval gives our program greater credibility and ultimately translates into better hiring opportunities and salaries for our actuarial science graduates.”

Northwestern’s actuarial science program was begun in the fall of 2002. It is expected to have about 10 majors enrolled next year.

To become approved, Northwestern submitted course syllabi and descriptions for Advanced Statistical Methods, Investments, Advanced Corporate Finance, Intermediate Macroeconomics and Intermediate Microeconomics.