CWU Actuarial Science students double national exam-passing average

The complex and nuanced field of actuarial science, which uses mathematical and statistical analysis to assess risk in a broad variety of industries and professions, relies on a series of rigorous professional exams to verify the competency of the people doing this important work.

Central Washington University is home to the only undergraduate degree in Actuarial Science in the Pacific Northwest, and this year, that program’s senior class collectively attempted 12 of those exams, out of which they passed 10. This 83.33% passage rate is more than double the national average of 40%, and it sets the students on a path to success aided by a deeply supportive network of faculty and alumni.

Professor of Actuarial Science Sahadeb Upretee joined CWU in 2020 and took over as director of the program last year. When he joined the faculty, the program had seen a dramatic decline in enrollment in the wake of the Covid-19 pandemic, something he was determined to remedy.

“I realized I needed to do something to revive the program and get our presence out there,” Upretee said. “This is the only program of its kind on the West Coast, offering high-level courses and highly-qualified faculty.”

Professor of Mathematics Dominic Klyve, who has been teaching classes in the 35-year-old Actuarial Science program since 2010, has witnessed firsthand the impact of Upretee’s dedication.

“In 2020, it wasn’t clear that we were going to have a long-term program going forward,” he said. “Sahadeb should get a lot of credit, because our numbers are doing a lot better now, and we’re growing. Our students get jobs, and then they come back to help the next generation of their peers.”

Isabella Maurent, an Actuarial Science senior who passed two of those daunting professional exams this summer, credits the knowledge and experience of the faculty with setting her class up for success.

“They themselves have taken the exams, so they know what they’re doing and what to look out for,” she said. “Besides preparing us for the exams, they set us up with skills like coding and verbal communication that will look great on our resumes.”

In preparing students for the professional world, Upretee’s curriculum emphasizes collaboration and problem-solving skills over rote memorization.

“I like to focus on instructional group work and resource-sharing, to help students prepare together and encourage one another,” Upretee said. “We build their communication and presentation skills too, so they feel confident presenting at annual conferences like the Actuarial Research Conference (ARC).”

The CWU Actuarial Science program has sent two undergraduate students to present at the last two annual ARCs, a strong indicator that the program’s emphasis on research and individual initiative is paying off.

“How do we not only help students pass the exams, but also teach them how to study for them in the future?” asked Klyve. “There’s a gap between going to class and seeing someone solve problems, and solving those problems on your own, outside of school. Sahadeb’s problem-solving seminar, where we get together once a week with students and work through that process, not as academics but as people training for exams, has been super helpful in that regard.”

Ian Larkin, who transferred to CWU from Yakima Valley College last year with the specific intent of joining the Actuarial Science program, says the subject matter has captivated him even more than he had hoped.

“Last year, we took financial mathematics and probability and statistics, and then this year we’re combining it all into one subject through the long-term actuarial science class,” Larkin said. “It has been fascinating to see it all come together into those questions where probability and finance overlap and produce quantitative results.”

Like Maurent, Larkin passed two of his professional exams this summer, an important milestone that he knows will open doors for him once he begins his career after graduation in June 2027.

“Typically you need to have at least passed one exam to get your foot in the door for an interview, and two is even better,” he said. “I’m pretty confident that I’ll find a job within six months of graduating.”

There are 10 total professional exams in the field of actuarial science, out of which most actuaries pass the ones most relevant to their chosen career fields. Upretee has passed six of the seven needed to become an Associate of the Society of Actuaries, an esteemed professional credential that will lend further merit to the one-of-a-kind Actuarial Science program he leads here at CWU. He plans to take the seventh in the Fall of 2027, and passing it would make him the second current CWU faculty member to earn the title, following fellow Professor of Actuarial Science Yvonne Chueh’s lead.

That dedication is felt by the students, who are encouraged to persevere in the face of rigorous professional demands and procedures.

“The faculty really encourage students to keep trying for those exams, and if we fail, to just get back up,” Larkin said. “They know that everyone learns differently, on different timelines, so what they instill in us is the importance of carrying on and doing the work, even when it gets hard.”