MANSFIELD, Pa. — Aaron Butters ‘21, a Mansfield University alumnus, recently passed his fifth actuarial exam on predictive analytics. Butters graduated with a degree in mathematics with a concentration in applied mathematics.
An
actuary measures and manages risk for an organization to help them maximize
their profit. According to the Society of Actuaries, individuals in this field
are experts in evaluating the likelihood of events happening, designing ways to
reduce the likelihood of undesirable events, and decreasing the impact of these
events.
Taking
an actuarial exam requires a great deal of preparation. “They’re a major
commitment to take. It’s like medical or law exams,” said Butters. “The exam
cover mathematics, statistics, finance, investment, insurance industry
knowledge, and programming.”
So
far, Butters has passed exams on probability, financial mathematics, investment
and financial markets, statistics for risk modeling and now, predictive
analytics. Passing this fifth exam in December 2021 marked Butters’ halfway
mark to earning his fellowship in the Society of Actuaries. There is still a
long road ahead for Butters’ to reach his goal of fellowship.
“The
predictive analytics exam was five hours long and involved typed answers about
a business problem based on a dataset I needed to analyze using statistical
software,” explained Butters. “Also, each exam usually requires about 200 to
300 hours of study time. This can vary depending on the amount of material. I
usually start studying six months before I take each exam.”
Additionally,
there are several other online, graded courses on topics such as
professionalism, economics, accounting, and finance that are part of the
credentialing process.
Butters,
a Troy native, first became aware of the actuarial profession in high school
while his father was reading about it in a list of careers in STEM. “Up until
that point I had been considering various engineering career paths, but since
actuarial science matched my interests so well with its combination of
mathematics (specifically its emphasis on statistics) and business and finance,
I decided to pursue that instead.” said Butters.
This
is what led him to MU’s applied mathematics program. “My classes at MU prepared
me very well for my career and my professors have given me a great deal of
advice.”
Currently,
Butters works with Guardian Life, a mutual life insurance company, and is
planning to continue his career path there as he earns his Fellowship.
For more information about the Mansfield University mathematics program, visit mansfield.edu/mathematics/