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United States : Project Math Minds Competition Showcases the Actuarial Profession.

The Actuarial Foundation, with generous support from Prudential Financial, Inc., is providing New Jersey high school students with the opportunity to think like an actuary through its Project Math Minds competition. This scholarship competition challenges students to conduct sophisticated mathematical analyses and make decisions based on their results. This type of analytical skill set makes actuaries experts in managing risk and planning for the future.

Even though it is consistently ranked as a top job in America, many high school students are unaware of the actuarial profession, the steps required to become an actuary, and that it remains one of the most sought-after professions, said Kevin Cormier, FCAS, MAAA, senior actuary, trustee of The Actuarial Foundation and Project Math Minds chairperson. With this competition, we hope to introduce students to the skills actuaries use every day on the job.

Written and reviewed by professional actuaries, the 2015 Project Math Minds competition asks participants to develop estimates of potential losses from earthquakes that an insurance company or catastrophe fund might bear in the next year. The top three student-submitted projects will receive scholarship awards of $5,000, $3,500 and $2,000 for first, second and third place submissions, respectively. Entries will be judged on creative ability, assumptions, use of mathematics, thought process, thoroughness, organization and clarity.

Students will have the option to consult with an actuary for questions on their project. Participants - individuals or teams of up to three - must be juniors or seniors at a high school located in New Jersey. The deadline for applying is March 31, 2015.

We are excited to partner with The Actuarial Foundation on this important initiative. Our hope is that through this challenging and interactive competition, participants will gain a solid understanding of the critical contributions actuaries make and the impact the profession has on the business world, as well as the steps required to become an actuary, said Richard Lambert, senior vice president and chief actuary at Prudential. We look forward to welcoming the winning students at the awards ceremony in May at our headquarters in Newark, N.J.

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Publication:Mena Report
Geographic Code:1U2NJ
Date:Feb 25, 2015
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