Center of Actuarial Excellence
Center of Actuarial Excellence (CAE) designation for The University of Iowa has been renewed for 2016! Our school’s designation was reconfirmed for a period of five years beginning December 22, 2014 and continuing through December 31, 2019.
The Department’s Actuarial Science program is one of only two in the U.S. that are over 100 years old. In 2010, it was one of the first to be certified as a Center of Actuarial Excellence (CAE) by the Society of Actuaries (SOA), after a detailed review process involving curriculum, faculty composition, graduate quality, connection to industry, and research/scholarship. The SOA review committee stated that “Iowa’s job placement record, exam pass rates and credentialed graduate rates are exceptional.”
The Actuarial Science program prepares students for careers as actuaries. It helps them learn material that is included in professional examinations administered by the Society of Actuaries, which actuarial students must pass in order to achieve professional status. In addition to actuarial science courses, students can take courses in preparation for business aspects of the actuarial profession such as accounting, law, finance, insurance, and economics. The Society of Actuaries (SOA) has recognized University of Iowa’s actuarial science program as a Center of Actuarial Excellence (CAE). There are eight criteria for the designation, including curriculum, faculty composition, graduate quality, connection to industry, and research/scholarship.
UI Courses and SOA Exam Information. (updated July 2019)
- be able to bring to bear actuarial, financial, mathematical, and statistical techniques to model and analyze risks, particularly in the context of insurance and pension;
- have the knowledge and analytical ability to pass the initial professional actuarial examinations given by the Society of Actuaries and Casualty Actuarial Society, and develop the skills needed for successful self-study of the advanced professional examinations;
- be skillful in using and developing computer software to solve actuarial problems;
- be able to clearly communicate results from an actuarial analysis to all stakeholders, and write effective reports that describe the analysis and summarize important findings; and
- possess a basic understanding of insurance and business operations.