The actuarial societies allow to have requirements to be validated by educational experience. There are three subjects in VEE requirements:

• Applied Statistics, to be replaced by Mathematical Statistics
• Corporate Finance, to be replaced by Accounting and Finance
• Economics

There will be changes the VEE requirements, starting July 1, 2018. See https://www.soa.org/Education/General-Info/2016-vee-requirements.aspx. In particular, VEE Applied Statistics will end (it will become a full exam,) and VEE Mathematical Statistics will take its place. There will also be some changes to VEE Corporate Finance.

Currently the following series of Binghamton courses can be used to satisfy VEE requirements. The updated information can be checked at VEE Directory of Approved Courses and Alternate Options.

• Applied Statistical Methods. Both components below must be covered.
  1. Regression component: by MATH 448, MATH 455, MATH 555, CQS 112, ECON 466, ECON 616, or ECON 617.
  2. Time-series component: by MATH 458, MATH 559, ECON 466, or ECON 467
• Corporate Finance.
  1. One of the three pairs: by FIN 311 & 322, FIN 311 & 324, or FIN 311 & 520.
• Economics. Both components below must be covered.
  1. Microeconomics component: by ECON 160, 360, or 500.
  2. Macroeconomics component: by ECON 162, 362, or 501.
• Mathematical Statistics.
  1. By MATH 448, or 502
• Accounting and Finance.
  1. Accounting component: by ACCT 211
  2. Finance component: by FIN 311

Part of the previous VEE on Applied Statistical Methods has been evolved to an independent full exam, named Statistics for Risk Modeling. A student may prepare for this exam by taking MATH 455, 457 and 458.

If a student cannot get enough VEE credits while in college, he/she can use standardized examinations or other educational experiences to get the credits. A list of accepted approaches is on the SOA website, such as Chartered Financial Analyst (CFA) Exams, Global Association of Risk Professions (GARP) FRM Exam, online courses and so on.

Students should be reminded that the most important factor for being hired as an actuary in an entry level position is to pass the first two actuarial exams (P/1 and FM/2). Taking courses to fulfill the VEE requirements should not be placed at a first priority.