Actuaries use statistical formulas and techniques to calculate the probability of events such as death, disability, sickness, unemployment, retirement, and property loss. They use formulas to predict how much money an insurance company will pay in claims, which determines the overall cost of insuring a group, business, or individual. They assess the cost of running the business and incorporate the results into the design and evaluation of programs. (From Vault.com)
Actuaries become certified over the course of time by completing a schedule of certification exams. If you are interested in pursuing actuarial internships and jobs, you will want to take the first exam after completing Math 140 and a course that covers statistics and probability, including Stat 101, 160, 201 and 202. The second exam requires independent study. Passing the first two exams will provide a solid foundation for sophomore or junior year internships and entry-level jobs. More information about the exams can be found at the Society of Actuaries.