After collecting the data, the data needs to be group by the different class, and the different number of exams has been taken. Here are some data provided about the exams: For freshmen, ninety-eight percent of freshmen have zero actuarial exams passed, only two percent of freshmen have one actuarial exam passed. For sophomores, eighty-seven percent of sophomore has no actuarial exam passed, thirteen percent of them have one actuarial exam passed. Fifty-nine percent of Junior class passed zero actuarial exams, twenty-two percent of them pass only one actuarial exam, fifteen of them pass two actuarial exams, one percent pass three actuarial exams and two percent pass four actuarial exams. In senior class, twenty-one percent has zero actuarial exams passed, nineteen percent has passed only one actuarial exam, thirty-nine percent has two actuarial exams, sixteen of them passed three actuarial exams, and six percent of senior got four actuarial exams. After grouping the internship information by class, we figured that most freshmen and sophomore has no actuarial internship, ten percent of juniors had an actuarial internship in the past, and fifty-one percent of senior had one actuarial related internship before. The data also shows that most of the students passed four exams are be able to find an actuarial related internship, ninety-two percent of the students can find an actuarial internship with three exams passed, with two exams passed forty-six percent of the student can find an actuarial related internship, eighteen percent of the students passed one exam can find an actuarial internship and only two percent of the student who doesn’t pass any exams can find an internship in actuarial.
I have been planing my project for a while. As I mentioned in my introduction. My project is focusing on to do some investigation on how much actuarial exams is going to affect actuaries in their professional career such as an internship. I decide to survey. Setting up a survey with couple conditions of testing scenarios such as which year are students currently in and how many exams have students been taken and have you ever get, and records them as paid or unpaid. And using statistical methods to collect data and analyze the data. In order to make it more accurate, the data has been collect and record group by years. And reform the data with the number of exams has been passed. And compare them, and doing the analytical equations to figure out the relationships between the number of exams has been passed with effect in a professional career.
Introduction of capstone project
My capstone project is focusing on a niche topic: Actuarial Science. What is Actuarial Science? Here is a formal explanation from Wikipedia: “Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance, and other industries and professions. More generally, actuaries apply rigorous mathematics to model matters of uncertainty. Actuaries are professionals trained in this discipline.”. This long line can be cut short as Actuarial Science is the math of risk in many different fields. In the year of 2018, Actuarial Science suddenly became the most valuable major in college. And many media and news have been introducing this incredible major to their audience. There must be a concern: what makes actuarial science to became a so unique major and what’s the difference between actuarial science and math? Basically, math is a part of actuarial science but it’s not all of it. Actuaries needs to be an expert in math, finance, insurance, programing and so on. A wide range of fields is one of the characteristics of actuarial science. The most striking, of course, is the actuarial exam. The actuarial exam is divided into several subjects similar to the CPA but more difficult. Passing the actuarial exam means that you already have some qualifications as an actuary. As more and more people become interested in actuarial science, it raises a question: the actuarial exam is a test to see if you’re a qualified actuary, but it’s well known that learning and work don’t mix. So is the actuarial exam a decision to get a job or an internship? I am now a sophomore major in actuarial science, who also needs to conquer actuarial examination. Of course, I also have a great curiosity about my future career. Therefore, I want to take this as a research topic to do some investigation on how much actuarial exams is going to affect actuaries in their professional career such as internship?