Central College has been certified by the Society of Actuaries for all three Validation by Educational Experience areas, which include Economics, Accounting and Finance, and Mathematical Statistics.
The college was previously certified for all three areas before the society made changes to its structure in June 2018.
The society added accounting to what was a Corporate Finance Validation by Education Experience, or VEE, which created 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 the college’s introductory accounting courses certified by the society. 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 professor of mathematics Mark Mills. "I'm really happy we were able to meet the SOA's requirements."
Mills said the certification required an overhaul of the college’s junior-senior level statistics course, covering a large amount of advanced statistical theory that had not been previously 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," said Mills. "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."