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Our Online course offers personalized learning on a schedule that works for you.
The VEE Mathematical Statistics course provides you:
- 180-Day subscription
- Tailor-made readings – designed for actuarial students and practicing actuaries
- Comprehensive lecture notes - include illustrative examples
- Video lectures – easy to follow
- Practice Problems – included at the end of each module
- Access to Instructors – Students have access to one-on-one instructor support for 180 days
- Pass Guarantee - Students who are unable to achieve a passing score may retake the entire course, or the final exam only, at no additional charge
- Self-contained course - all required readings are included in the course fee
Note: 60% student discount available
This course consists of comprehensive lecture notes and video lectures and the materials are organized into four modules:
- Sampling distributions
- Point estimation
- Interval estimation
- Hypothesis testing.
Following the Society of Actuaries requirements, the learning objectives below are covered in this course:
- Explain the concepts of random sampling, statistical inference, sampling distribution, and state and use basic sampling distributions.
- Describe the main methods of estimation and the main properties of estimators and apply them. Methods include matching moments, percentile matching, and maximum likelihood. Properties include bias, variance, mean squared error, consistency, efficiency, and UMVUE.
- Construct confidence intervals for unknown parameters, including the mean, differences of two means, variances, and proportions.
- Test hypotheses. Concepts to be covered include Neyman-Pearson lemma, significance and power, likelihood ratio test, and information criteria. Tests should include for mean, variance, contingency tables, and goodness-of-fit.
The depth, pace and structure of the course material is comparable to a senior undergraduate course in Mathematical Statistics.
Unlike mathematical statistics textbooks, which emphasize proofs and derivations, these course readings focus on the applications that are most useful for your future actuarial work and study.
Final Examination:
The final exam is a comprehensive, two-hour, closed-note and closed-text exam.
Proctors: Students are responsible for finding a proctor. Students can choose to use our online proctoring service, ProctorU (details below), or find an outside individual. Exam proctors must be approved by ACTEX. Acceptable proctors include:
- Credentialed actuaries
- CFA or a member of management unable to sit for exams, such as an HR manager or university professor
- The proctor and candidate may not be related
If you have selected CBT Final (computer-based test) the instructions will be emailed to your proctor (see Student Responsibilities below).
Individuals with disabilities are eligible to receive necessary testing accommodations. Please contact onlinecourses@actexmadriver.com prior to registering for this course if you require an accommodation.
Students are allowed to use SOA approved calculators.
Computer-Based Test (CBT) Final Exam: ProctorU
- This service is offered as a convenience for our students. ACTEX does not profit from the use of this service.
- Students must create a ProctorU account and are responsible for scheduling and paying ProctorU for their exam ($28.00).
- The ProctorU service is not included in the Pass Guarantee.
Advantages of using ProctorU:
- ProctorU is available worldwide 24 hours a day and can schedule your exam when you are ready.
- Take the final exam in the comfort of your home, office or any private setting with access to the Internet.
Communication with the Instructors:
The instructor will respond to student emails throughout the course normally within 24 hours. By appointment, the instructor will also be available by phone for student questions.
Student Responsibilities:
- Students should download all course materials as instructed. Students should read instructor notes. Assignments must be completed individually. No collaboration or other assistance is permitted. Assignments must be completed according to the instructions provided.
- Students are responsible for finding a proctor for the final examination or using ProctorU to remotely proctor your exam. The final exam must be proctored by a credentialed actuary from the SOA, CAS or an international Actuarial Society. Your proctor must be approved by ACTEX prior to the examination date by submitting your proctor’s information in the Proctor Submission Portal on the course website. Students must agree to the ACTEXeLearning.com Site Policy in order to access their online course.
- Please note: students must pass two SOA, CAS or CIA actuarial exams before applying to have your VEE credit added to your record.
Refund Policy
- Course policy: students taking this course on-demand are eligible for a 100% refund of tuition up to 72 hours after purchase, and a 50% refund from 72 hours to a week after purchase, provided the course has not been accessed.
- After 1 week, students may pause the course for up to 6 months, but no refund will be given, provided the course has not been accessed.
About the Authors
Johnny Li, PhD, FSA
Professor Li is Professor and the Holder of the Munich Re Chair in Predictive Analytics at the University Of Waterloo, Canada. His current teaching and research focus on the interface between actuarial science and predictive analytics. Over the years, his research contributions have led to several prestigious awards, including the Society of Actuaries (SOA) Redington Prize, the SOA Edward A. Lew Award and the SCOR Actuarial Award in Asia.
Andrew Ng, PhD, FSA
Professor Ng is an Associate Professor of Practice in Actuarial Science at the Chinese University of Hong Kong. Prof. Ng has more than 15 years of experience in actuarial science and financial mathematics education. He teaches a broad range of actuarial science and finance courses, including life contingencies, derivative securities, risk management, and predictive analytics. In 2012, he was awarded the Vice-Chancellor’s Exemplary Teaching Award from the Chinese University of Hong Kong. Prof. Ng received his Ph.D. from the University of Iowa.
Questions and learning videos and notes prepared me well for the final exam and quizzes.
The material was well written and clear, and the videos were very helpful.
I liked the course setup. It was clearly organized through the assignments, videos, practice problems, notes, then final exam.