The best actuarial university is one that possesses a program which teaches students the core skills necessary to succeed as a professional actuary. Having a strong base in mathematics and expecting its students to master the basics of statistics and other higher level math subjects, such as linear algebra, is a good sign of a legitimate actuarial university. The top actuarial institutions of study also emphasize accounting skills. Your best bet for an actuarial program will include a career advising component and helps you build the communication and job interviewing skills needed to secure a job in the field.
Mathematics is the basis of every actuary's job because the primary job responsibility is calculating risk for corporate entities. Any actuarial university program that you are considering should require students to take a significant amount of mathematics courses before graduation. Standard math courses include linear algebra, differential equations, and financial mathematics. These classes are very challenging but necessary if you wish to be successful in your program and obtain a good job after graduation.
One of the most important mathematics class you will take as a student of the actuarial sciences is statistics. The best actuarial programs include a variety of statistics courses to prepare their students for the tough probability modeling and financial analysis that they will perform for companies. Taking advanced statistics courses are the norm rather than the exception for actuarial university students, and may include topics such as regression, probability, time series, and data analysis.
Being able to produce and decipher an accounting ledger is another responsibility of an actuary. The best actuarial programs will teach students proper accounting skills because understanding the accounting measures a company has taken in the past is essential to determine risk. Programs usually require that students take at least one advanced level course in accounting before graduating. Topics that your accounting class may cover include accounting theory and pension mathematics.
Companies look to hire actuarial students who not only have solid math skills but also have competent communication skills. The actuary does not always work alone, and must be able to communicate his or her analysis and findings to coworkers and superiors. Presenting work to others in a company requires that the actuary knows how to condense difficult, complex topics into manageable and easy to understand summaries. Outstanding actuarial universities will provide seminars, courses, or lectures that show students how to effectively communicate within a business environment.
