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  • Statistics

    I was just wondering, how much statistics is really needed for actuarial science?

    I mean.. Exam 1/p is probability
    Exam 2/fm is mathematical finanace
    Exam 3 - i have no idea
    Exam 4 i have no idea
    Exam 5 - 8 i heard is messed and you shouldn't do it untill your working

    So how far in depth does the profession get into statistics?
    Also, which exam uses statistics.

  • #2
    You should have at least a basic understanding of probability and statistics. Ideally you would have a class on regression and a class on time series; those will both be helpful for Exam 4. Exam 3 (if you go CAS) has some statistics right now that will also carry over to 4/C; if you are taking SOA exams, then you'll only see the statistics part on 4/C.
    "You better get to living, because dying's a pain in the ***." - Frank Sinatra

    http://www.hockeybuzz.com/blogger_ar...blogger_id=174 - where I talk about the Blues and the NHL.

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    • #3
      Originally posted by rad
      I was just wondering, how much statistics is really needed for actuarial science?
      ...
      So how far in depth does the profession get into statistics?
      Also, which exam uses statistics.
      http://www.beanactuary.org/college/vee.cfm

      Society of Actuaries and other actuarial societies require two semesters of statistics: one semester of multivariate regressions and one semester of time series. However, the societies do not administer exams in statistics anymore; they accept instead exams administered by many other organizations, primarly by colleges. Validation by Educational Experience (VEE)

      If you took statistics in college, and received B or better, as a rule you do not need to take more exams in statistics. There are other ways to receive the credits if your did not took statistics at college, or if your college is not in the SOA list.

      The same with economics and with corporate accounting.

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      • #4
        Do any of the exams include the below in depth? I mean like deep in depth?

        Estimation; sampling distributions; confidence intervals; hypothesis testing; power; robustness; analysis of variance for one and two factor designs; linear regression; graphical methods; statistical computingusing software package R.

        What about survey sampleing - i highly doubt that is on the exams also?

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        • #5
          Originally posted by rad
          Do any of the exams include the below in depth? I mean like deep in depth?

          Estimation; sampling distributions; confidence intervals; hypothesis testing; power; robustness; analysis of variance for one and two factor designs; linear regression; graphical methods; statistical computingusing software package R.

          What about survey sampleing - i highly doubt that is on the exams also?
          Confidence intervals, sampling distributions, estimation and hypothesis testing, to an extent, are on Exam C. Regression, ANOVA, etc. used to be on the precursor to Exam C (Course 4), but now are a part of a VEE topic that is satisfied independently of Exam C.

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