1994-1995 has been an exciting year in the Actuarial Science Program! Students entering this summer or later will be satisfying a new set of graduation requirements and will have the opportunity to take a wider variety of courses in the program. The faculty have approved the first comprehensive changes in the program since it was formalized in the late 1980's. The changes are designed to better prepare our graduates for the actuarial profession and the actuarial exams. The most important changes include the addition of Management 200 and a course on the theory of interest to the requirements. A course on operations research in the Mathematics Department will replace the IE 335, 336 requirement, and a second semester of life contingencies, Statistics 473, will be offered as an elective. The combination of the interest theory course and Statistics 472 should prepare students for CAS Exam 4A, while those taking SOA exams will find the addition of Statistics 473 a big help in preparing for Exam 150. In addition, an optional course for freshmen, Introduction to Actuarial Science, will provide an opportunity for beginning students to find out about the profession before making an irrevocable commitment to the major. Also this spring, the Krannert School began offering a minor in managment to students in the School of Science. This will provide an opportunity for many of our students to deepen their understanding of management and have their achievements reflected on their transcripts.
A new recruiting brochure, coordinating with the new Mathematics brochure, is now available, if you know of high school or beginning college students interested in actuarial careers and Purdue's program. If you have worldwide web connections, check the Actuarial Science home page at
http://www.math.purdue.edu/~actuaryStudents in the program are finding rewards for their hard work. A higher portion of our graduates are obtaining actuarial positions this year, and our underclass students have more internships than ever. We presented eight actuarial majors with scholarships this spring: Melinda Ashcraft, Mike Bishop, Suzie Krause, Aaron Lambright, Liliana López, Amanda Phipps, Amy Schultz, and Rosie Shriver. These scholarships were made possible by generous donations from alumni, from the Lincoln National Corporation in Fort Wayne, and from the Farmers Insurance Group of Companies in Los Angeles.
The Actuary Club had a full agenda this year including presentations by health and consulting firms in addiction to life and casualty companies. In addition, the club sent 11 of its members to the spring meeting of the Indianapolis Actuary Club for dinner, a chance to talk with practicing actuaries from a variety of companies, and a presentation on the "Future Actuary" by an SOA representative.
Conversations with underclass students about their plans for the summer and the fall and with the new officers of the Actuary Club suggest next year will be at least as productive and exciting as this year has been.