VEE Mathematical Statistics
VEE Mathematical Statistics is one of the three Validation by Educational Experience (VEE) requirements of the ASA. A VEE is not an exam. It is credit for university coursework, or for an approved alternative, that the SOA's VEE Administration Committee has approved for the topic. A candidate applies for it once they have passed two SOA, CAS or CIA actuarial exams. The CAS does not require this VEE for the ACAS.
About the requirement
Typically, the VEE requirement for mathematical statistics will be covered by a one semester course that follows the probability course used to cover the learning objectives for Exam P. This course should be calculus-based. All of the topics listed below should be covered.
The topics are those of the SOA's Guidelines for Approval of VEE Courses and Educational Experiences, effective November 1, 2024. A course is approved against them and then listed in the SOA's Directory of Approved VEE Courses/Experiences, or its Alternate VEE Options list. The SOA's own pages describe how a candidate claims the credit.
Learning Objectives
Mathematical Statistics
- Explain the concepts of random sampling, statistical inference and sampling distribution, and state and use basic sampling distributions.
- Describe the main methods of estimation and the main properties of estimators, and apply them. The only required method is maximum likelihood and 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.
Source Material
Source Material
- Guidelines for Approval of VEE Courses and Educational Experiences (SOA - 2024)
- VEE–Mathematical Statistics (updated November 1, 2024)