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Trying to figure out my study plan

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  • Trying to figure out my study plan

    I will -hopefully- have my degree in 2008 (graduate at 24 yrs old, due to delay in going to school), and wondering which electives to take or not so as not to take too long before graduating. I fully intend to have 2+ exams passed before graduation (I'll be taking P in February, preferably).

    Anyway, I'm in NJIT's Mathematics of Finance and Actuarial Science program, which has essentially everything I should learn in school, although I'll need to learn VB and Excel on my own for the most part, and Actuarial Mathematics 1 and 2 are electives (as not everyone with the Finance option is studying Actuarial Science), leaving me with very little free room for extra electives (though if I can convince them to let me transfer some of my five English courses, I can knock out some GURs),

    My primary dilemma is my desire to take several of the Finance classes within the School of Management, primarily as a personal desire to learn, but not sure if the time investment will be worth it (not likely if they won't be explicitly useful in my career).

    I think it's a given that I'll take 441 and 442, but do any of the others seem particularly beneficial? Thanks in advance for any help, I know this post is lengthy.

    Math 441 - Actuarial Mathematics I (3-0-3)
    Prerequisite: Math 346. Topics include the economics of insurance, individual risk models for a short term, survival distributions and life tables, life insurance per year, life annuities, and net premiums.

    Math 442 - Actuarial Mathematics II (3-0-3)
    Prerequisite: Math 441. Topics include net premium reserves, insurance models including expenses, nonforfeiture benefits, and dividends.

    Math 443 - Statistical Methods (3-0-3)
    Prerequisite: Math 341. Topics include complete sufficient statistics and uniformly minimum variance estimators, general linear hypotheses and related topics, nonparametric inference including rank and order statistics, permutation methods, U-statistics, and Pitman efficiency.

    Acct 116 - Principles of Accounting II (3-0-3)
    Prerequisite: Acct 115. A continuation of Acct 115. Valuation, depreciation, costing methods, overhead accumulations, and distribution. Emphasis given to standard costs, cost estimating and budgets.

    Fin 315 - Principles of Financial Management (3-0-3)
    Prerequisites: Acct 115, Acct 116. Principles of funding the business enterprise domestically and internationally with an emphasis on technology-based organizations. Topics covered include access to capital, means of long- and short-term financing, financial instruments, capital budgeting, and analysis of financial statements. Extensive use of electronic spreadsheets.

    Fin 401 - Securities in Financial Markets (3-0-3)
    This course offers a quantitative approach to evaluating fixed income securities and to managing bond portfolios. Specific topics include: modern theory of bond pricing, pricing of high risk bonds, derivatives, and risk management.

    Fin 423 - Risk Analysis (3-0-3)
    Prerequisite: Fin 315. The management of risk in the business enterprise. Topics include meas-urement of risk and hedging strategies, sources of liability, property and liability insurance, and insurance administration.

    322Introduction to Econometrics (3)
    Application of regression and other statistical techniques to economic problems; classical linear regression model developed with analysis of the underlying assumptions and the consequences of their violation; use of econometric techniques in micro- and macroeconomic problems; computer-assisted applications.

  • #2
    Also: the school offers a CIS 105 course that's repeatable in a different language - is proficiency in any of the following languages a particular strength?

    "Languages include ADA, APL, C, C++, FORTRAN, LISP, Pascal, PROLOG, Smalltalk, Java, COBOL, or others."

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    • #3
      113 should cover your basics for understanding the flow of programming, teach yourself the rest. Can't say I know much about the actuarial classes at NJIT, I'm just a CS major and Applied Math minor.

      Comment


      • #4
        Originally posted by SirVLCIV
        I will -hopefully- have my degree in 2008 (graduate at 24 yrs old, due to delay in going to school), and wondering which electives to take or not so as not to take too long before graduating. I fully intend to have 2+ exams passed before graduation (I'll be taking P in February, preferably).
        That sounds like a pretty good plan. Since you have some time until you plan to graduate, you might also think about getting an internship somewhere - even if you're not majoring in actuarial science, specifically.

        Anyway, I'm in NJIT's Mathematics of Finance and Actuarial Science program, which has essentially everything I should learn in school, although I'll need to learn VB and Excel on my own for the most part, and Actuarial Mathematics 1 and 2 are electives (as not everyone with the Finance option is studying Actuarial Science), leaving me with very little free room for extra electives (though if I can convince them to let me transfer some of my five English courses, I can knock out some GURs),
        I'll have to be satisfied with being ignorant of your graduation requirements, although I think you know them well enough.

        My primary dilemma is my desire to take several of the Finance classes within the School of Management, primarily as a personal desire to learn, but not sure if the time investment will be worth it (not likely if they won't be explicitly useful in my career).
        Something else you might also want to consider if you're thinking about Finance courses is satisfying the Corporate Finance VEE. Essentially, you need two semesters of Corporate Finance to satisfy the requirement.

        I think it's a given that I'll take 441 and 442, but do any of the others seem particularly beneficial? Thanks in advance for any help, I know this post is lengthy.

        Math 441 - Actuarial Mathematics I (3-0-3)
        Prerequisite: Math 346. Topics include the economics of insurance, individual risk models for a short term, survival distributions and life tables, life insurance per year, life annuities, and net premiums.

        Math 442 - Actuarial Mathematics II (3-0-3)
        Prerequisite: Math 441. Topics include net premium reserves, insurance models including expenses, nonforfeiture benefits, and dividends.

        Math 443 - Statistical Methods (3-0-3)
        Prerequisite: Math 341. Topics include complete sufficient statistics and uniformly minimum variance estimators, general linear hypotheses and related topics, nonparametric inference including rank and order statistics, permutation methods, U-statistics, and Pitman efficiency.

        Acct 116 - Principles of Accounting II (3-0-3)
        Prerequisite: Acct 115. A continuation of Acct 115. Valuation, depreciation, costing methods, overhead accumulations, and distribution. Emphasis given to standard costs, cost estimating and budgets.

        Fin 315 - Principles of Financial Management (3-0-3)
        Prerequisites: Acct 115, Acct 116. Principles of funding the business enterprise domestically and internationally with an emphasis on technology-based organizations. Topics covered include access to capital, means of long- and short-term financing, financial instruments, capital budgeting, and analysis of financial statements. Extensive use of electronic spreadsheets.

        Fin 401 - Securities in Financial Markets (3-0-3)
        This course offers a quantitative approach to evaluating fixed income securities and to managing bond portfolios. Specific topics include: modern theory of bond pricing, pricing of high risk bonds, derivatives, and risk management.

        Fin 423 - Risk Analysis (3-0-3)
        Prerequisite: Fin 315. The management of risk in the business enterprise. Topics include meas-urement of risk and hedging strategies, sources of liability, property and liability insurance, and insurance administration.

        322Introduction to Econometrics (3)
        Application of regression and other statistical techniques to economic problems; classical linear regression model developed with analysis of the underlying assumptions and the consequences of their violation; use of econometric techniques in micro- and macroeconomic problems; computer-assisted applications.
        For the most part, with respect to the actuarial exams, the bolded and underlined courses play the biggest role. The Securities class might also be a good one, considering the SOA is planning to put Financial Economics into the preliminary syllabus. Other than that - I'm sure you'll feel a little more at home if you've seen all the other stuff before, but a lot of it may only be marginally helpful. I don't think it's worth holding up your exam progress or your graduation to take more than those classes above.

        Hope that helps a little.

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        • #5
          Thank you both - yeah, the one good thing about the degree program is it prepares one for the Actuarial Exams, and satisfies all the VEEs. I'm also looking for internships that I may qualify for, but as I'm currently only a Sophomore, if they're looking for someone with more experience, I won't be able to find what I'm looking for (Prudential in Newark would be extremely easy, transportation-wise) - I found a couple of year-round internships at my girlfriend's company (Cendant) that I'm considering - one is Pricing Intern for the Pricing and Yield Department at the Cendant Car Rental Group.

          There's also Revenue Audit Intern. Both are year round, with 20-25 hrs a week during school, 30-35 out of school (I work 32 a week at a supermarket at the moment, with 40-48 out of school, so that wouldn't be difficult for me). Obviously, I'd prefer an actuarial position, but if I can't find one, I'd like to move from deli work to an office position.

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          • #6
            You might consider taking an elective that is fun.
            Whether you are the lion or the gazelle, when the sun comes up, you better be running.

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