Central College News

Central Certified by Society of Actuaries in VEE Areas

Featured: Central Certified by Society of Actuaries in VEE Areas

July 29, 2019

The Society of Actuaries has again certified Central College for all three Validation by Educational Experience areas—Economics, Accounting and Finance, and Mathematical Statistics. Central previously was certified for all three areas before the SOA made changes to its structure in June 2018.

The SOA added accounting to what was a Corporate Finance VEE, creating a larger Accounting and Finance VEE. It also changed the Applied Statistics VEE to a more theoretical Mathematical Statistics VEE. The Accounting and Finance VEE was met by getting two of Central’s introductory accounting courses certified by the SOA. The Mathematical Statistics VEE included a large list of learning objectives and topics in advanced statistical theory.

“The Mathematical Statistics VEE has proven to be quite hard for small college actuarial science programs to fill,” says Mark Mills, professor of mathematics. “I’m really happy we were able to meet the SOA’s requirements.”

Mills said the certification required an overhaul of Central’s junior-senior level statistics course, covering a large amount of advanced statistical theory that hadn’t previously been included in the course. He introduced the learning objectives in the course’s curriculum this past spring and then submitted it for certification.

“I am very excited for this news, because it continues to validate our actuarial science program as a complete program,” Mills says. “By completing the actuarial science major, students will automatically fulfill all three required VEE areas so they won’t have to make up anything once they begin their career. This definitely sets us apart.”