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Draft:ACTEX Learning

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ACTEX Learning
Company typeBenefit corporation
IndustryEducational publishing
Founded1972
FoundersRichard (Dick) London, Geoffrey Crofts
Area served
Worldwide
Key people
William Marella (CEO)
ParentArchiMedia Advantage Inc.
Websitehttps://www.actexlearning.com

ACTEX Learning

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ACTEX Learning.[1] is a division of ArchiMedia Advantage Inc. [2], and is an educational publishing company specializing in actuarial science and offering materials in traditional and eLearning formats. Founded in 1972, ACTEX produces printed and digital textbooks and study manuals, video instruction, practice question databases, and interactive learning tools aimed at university students, educators, and actuarial professionals.

ACTEX Learning materials regularly appear in academic literature and on the syllabi of actuarial organizations, including the Society of Actuaries (SOA) [3], Casualty Actuarial Society (CAS) [4], and the Canadian Institute of Actuaries (CIA). Its resources support candidates pursuing actuarial credentials such as Associate and Fellow designations from these bodies, as well as from the Institute & Faculty of Actuaries (IFoA) in the UK and the Institute of Actuaries of India (IAI).

In addition to providing study materials, ACTEX collaborates with academic institutions that utilize its content in the classroom and contribute to content development.

According to third-party industry directories, ACTEX operates in the educational publishing space with global reach and an estimated employee count of 27 employees.[5]

Additional financial and operational metrics are also reported by Tracxn.[6]

Corporate Structure

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ACTEX Learning, legally known as ArchiMedia Advantage Inc., is a registered Benefit Corporation based in the State of New Hampshire. As a Benefit Corporation, it operates with a dual purpose of generating profit and pursuing a stated public benefit. The company publishes an Annual Impact Report [7] summarizing its benefit-related activities.

Stakeholders

ACTEX identifies several key stakeholder groups, including students and professionals preparing for actuarial exams, university professors and instructors, authors and subject-matter experts, professional societies such as the SOA, CAS, IFoA, CIA, and IAI, as well as its internal staff.

AFDP Program

As part of its mission, ACTEX participates in the UNDP-Milliman Global Actuarial Initiative (GAIN) [8]. Through this collaboration the company founded and leads the Actuarial Faculty Development Program (AFDP) [9], which supports actuarial education in low- and middle-income countries by providing live virtual instruction, curriculum design assistance, and classroom teaching resources to university professors who have not previously taught actuarial science.

About ArchiMedia Advantage

ArchiMedia Advantage Inc. is the parent company of ACTEX Learning, The Actuarial Bookstore[10], and ASM (Actuarial Study Materials) [11]. The company develops and distributes educational materials and eLearning tools for actuarial students and professionals, working closely with educators, institutions, and professional organizations.

Educational Products and Services

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ACTEX Learning provides various materials intended to support actuarial education. These include:

  • Study Manuals: Guides for actuarial exams covering various topics with explanations, examples, and practice questions. The material is developed by actuaries, university faculty, and other educators to support exam preparation.
  • Textbooks: These include both university-level and professional-level) textbooks.[12] [13]
  • Instructional Videos: Created by subject-matter experts to clarify complex actuarial concepts through visual and spoken instruction.
  • GOAL (Guided Online Actuarial Learning) [14]: An interactive learning platform with practice questions, exam simulations, and personalized feedback. It is an interactive platform offering practice questions and simulations for actuarial exam preparation by offering structured study paths and progress-tracking tools through its “GOAL Score” feature.
  • Bootcamps: A series of three educational sessions on consecutive weekends prior to exam sittings, designed to support exam preparation.
  • Graded Mock Exams: Simulated exams with individualized feedback.
  • Flashcards and Formulae & Review Sheets: The flashcards (physical or electronic) allow students to review key terms and concepts interactively, while the formula sheets compile essential information concisely for quick reference and study.

Open Access

ACTEX provides a variety of free resources to support students, educators, and professionals. These include:

  • Formulae & Review Sheets[17]: Downloadable resources covering key formulas and concepts for various actuarial exams.
  • Webinars[18]: "6 Things Actuarial Students Should Be Doing" focused on early career guidance.
  • Study Skills & Career Books[19]: Materials on time management, exam strategies, and professional development for practicing actuaries.
  • ACTEX Learning Discord Community[20]: An online community hosted by ACTEX, organized by exam type, where students can collaborate and connect with authors and instructors.

Timeline

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The company's origins began with the Northeastern Study Manual series, which was initially a cooperative venture by the participating authors, including Richard (Dick) London, Geoffrey Crofts, and others from Northeastern University.

  • In 1964, Crofts, a Fellow of the Society of Actuaries (FSA), launched a graduate program in actuarial science at Northeastern University in Boston. London, an Associate of the Society of Actuaries (ASA), joined the program in 1968 and later became a faculty member.
  • In 1969 and 1970, the Northeastern University program expanded to include exam preparation courses for all SOA exams beyond the preliminary level, increasing demand for study materials.
  • In 1972, London founded the company known today as ACTEX Learning. That same year, the first actuarial exam study manual was published, marking the formal beginning of the Northeastern Study Manual series.
  • In 1982, The series was renamed ACTEX, an acronym for “actuarial texts,” as the project separated from Northeastern University.
  • In 1985, ACTEX published its first textbook, “Graduation: The Revision of Estimates,” and became a corporation to facilitate growth and capital raising.
  • In 1995, the company expanded its operations to include retailing titles from other actuarial publishers, naming the service Mad River Books.
  • In 2008, ACTEX invested in an online education platform and launched a series of recorded exam preparation seminars and interactive online courses.
  • In 2012, the company published its first e-book.
  • In 2015, ArchiMedia Advantage Inc., led by CEO Bill Marella, acquired ACTEX Publications. The company was integrated into ArchiMedia’s educational network alongside ASM Study Manuals and The Actuarial Bookstore, which expanded ACTEX’s capabilities and reach.
  • In 2017, ACTEX launched new online learning initiatives such as StudyPlus+, Guided Online Actuarial Learning (GOAL), and transitioned most electronic study manuals to a new digital rights management platform: Eureka [21]. In the same year, the Society of Actuaries published a retrospective article titled “The Birth of an Actuarial Learning Company”, detailing ACTEX’s origins and development. [22]
  • In 2020, in response to increased demand for online resources during COVID-19 pandemic, the company launched Academic GOAL, an online classroom instruction and assessment learning platform.
  • In 2021, ACTEX launched Actuarial University, an eLearning platform, and expanded its range of educational products and features to include GOAL, Instructional videos, electronic Flashcards, and Formula sheets.
  • In 2023, Institute & Faculty of Actuaries (IFoA) study programs and new products like Graded Mock Exams (GME) were launched.
  • In 2024, Institute of Actuaries of India (IAI) study programs were launched.
  • In 2025, an online resource for the Canadian Institute of Actuaries Capstone Exam was launched.

Notable Leadership

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ACTEX Learning relies on a team of professionals and subject matter experts. Key figures include:

  • Bill Marella – CEO of ACTEX Learning (2015 – present): Marella has over 30 years of experience in actuarial education and career development. He is also the author of The Actuarial Career: Getting Started (ACTEX Learning, 2024). He is a frequent speaker at actuarial student conferences and industry events such as ARC 2025 [23] and IME 2024 [24], where he presents on career-related topics.
  • Stephen Camilli, FSA [25] – Past President of ACTEX Publications, which became ACTEX Learning within his presidency period (2016 – 2019).
  • Gail Hall, FSA – Past President of ACTEX Publications (2005 – 2016).
  • Richard (Dick) London – Co-founder of the Northeastern Study Manual series, which later became ACTEX Publications (1972).
  • Geoffrey Crofts, FSA [26] – Founder of the Northeastern Study Manual series, which later became ACTEX Publications (1972).

Notable Authors

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ACTEX Learning materials are used in collaboration with academic institutions. Many authors who have written for ACTEX Learning work as actuaries in academic, private industry, and governmental roles. Some notable authors who have published study materials with ACTEX Learning include:

  • Samuel A. Broverman[27]
  • Robert Brown [28], PhD, FCIA, FSA, ACAS
  • Ian Duncan [29], FSA, FIA, FCIA, FCA, CSPA, MAAA
  • Robert Eaton [30], FSA, MAAA
  • Brian Fannin [31], ACAS, CSPA
  • Runhuan Feng [32], PhD, FSA, CERA
  • Matthew J. Hassett [33], PhD
  • Wenjun Jiang [34], PhD
  • Steve Kopp [35] , FSA, FCIA
  • Hans Leida, [36], PhD, FSA, MAAA
  • Scott Lennox, FSA, FCIA, FCAS, who authored an article on InsurTechs for the Society of Actuaries' General Insurance Insights newsletter.[37]
  • Julia Lessing, Australia CPD role
  • Daniël Linders [38], PhD
  • Johnny Li [39], PhD, FSA
  • Ambrose Lo [40], PhD, FSA, CERA
  • Mark M Maxwell [41], PhD, ASA
  • Jelena Milovanovic [42], ACIA, AIAA, PhD
  • Matt Morton [43], FSA, MAAA
  • Andrew Ng [44], PhD, FSA
  • Erica Rhode, FSA
  • Kevin L. Shirley[45]
  • Daniel D. Skwire, [46], FSA, MAAA
  • Sheldon Summers [48], FSA, MAAA
  • Abraham Weishaus [49], PhD, FSA, CFA, MAAA
  • Dale H. Yamamoto [50] , FCA, MAAA

Publications

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Textbooks

  • Mathematics of Investment & Credit – Broverman
  • Probability and Statistics with Applications: A Problem Solving Text – Asimow & Maxwell
  • Statutory Valuation of Individual Life and Annuity Contracts, Vol. 1 & 2 – Claire, Lombardi, & Summers
  • Group Insurance – Skwire
  • Life, Health and Annuity Reinsurance – Tiller & Tiller
  • Introduction to Ratemaking and Loss Reserving for Property and Casualty Insurance – Brown & Lennox
  • Healthcare Risk Adjustment & Predictive Modeling – Duncan
  • Individual Health Insurance – Bluhm & Leida
  • Managing and Evaluating Healthcare Intervention Programs – Duncan
  • Probability for Risk Management – Hassett, Milovanovic, & Stewart
  • Insuring Long-Term Care – Eaton & Morton
  • The Art and Science of Life Insurance Distribution – Zultowski & Bennett
  • Aspiring Actuarial Leaders - The Modern Manager's Toolkit – Lessing

Study Manuals

  • ACTEX Study Manual for SOA Exam P – Broverman
  • ACTEX Study Manual for SOA Exam PA – Lo
  • ACTEX Study Manual for SOA Exam SRM – Lo, Feng, & Linders
  • ACTEX Study Manual for SOA Exam FM – Dinius
  • ACTEX Study Manual for SOA Exam FAM – Broverman, Li, & Ng
  • ACTEX Study Manual for SOA Assessment ATPA – Lo
  • ACTEX Study Manual for SOA Exam ASTAM – Broverman & Jiang
  • ACTEX Study Manual for SOA Exam ALTAM – Li & Ng

Notable Collaborations and Partnerships

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ACTEX Learning has formed partnerships and collaborations with educational institutions, professional organizations, and industry groups. Notable collaborations include:

  • Society of Actuaries (SOA): ACTEX Learning has a long-standing relationship with the SOA, providing study materials and resources for students preparing for SOA exams. ACTEX also collaborates with the SOA on various educational initiatives, including the SOA Exam Prep Council, where members provide feedback and ideas to improve the student experience.
  • Casualty Actuarial Society (CAS): ACTEX Learning works on projects with the CAS to develop study materials and resources for CAS exams. Notable projects include the CAS Exam 8 Monograph Project and the CAS MAS-I & MAS-II simulated exam question databank project, which help create texts and simulated exams for students.
  • Institute and Faculty of Actuaries (IFoA): ACTEX Learning is listed as a recognized tuition provider by the IFoA [51], highlighting its role in providing actuarial education resources globally.
  • Institute of Actuaries of India (IAI): ACTEX Learning is listed as a recognized tuition provider by the IAI, creating exam materials to align with IAI syllabi that have become more independent of the traditionally followed IFoA syllabi.
  • Professional Societies: ACTEX Learning aligns its educational resources with other professional societies, including the Canadian Institute of Actuaries (CIA). These efforts support students who may choose alternative study paths, ensuring that ACTEX materials are aligned with the latest industry standards and exam requirements.
  • UNDP-Milliman Global Actuarial Initiative (GAIN): ACTEX Learning collaborates with GAIN to support the Actuarial Faculty Development Program (AFDP). This program aims to strengthen actuarial teaching staff in low-middle-income countries by providing live virtual classes and educational resources. The initiative is designed to enhance the local actuarial science profession by supporting faculty members with training materials and affordable education tools.
  • Universities and Educational Institutions: ACTEX Learning partners with universities worldwide to provide localized actuarial study materials and support. These partnerships help universities enhance their actuarial science programs and provide students with access to educational resources.
  • Actuarial Clubs and Student Organizations: ACTEX Learning engages with actuarial clubs and student organizations to promote actuarial education and provide resources. The ACTEX-ASM Champion Program, for example, creates direct connections between ACTEX and university actuarial programs, offering study materials, discounts, and workshops to support students.

See Also

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References

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  1. ^ "About ACTEX Learning". ACTEX Learning. Retrieved May 20, 2025.
  2. ^ "ArchiMedia Advantage". ArchiMedia Advantage. ArchiMedia Advantage Inc. Retrieved May 20, 2025.
  3. ^ "SOA Exam Syllabus & Study Materials: Exam Book List". Society of Actuaries. SOA. Retrieved July 24, 2025.
  4. ^ "Study Aids and Seminars". Casualty Actuarial Society. CAS. 31 January 2025. Retrieved July 15, 2025.
  5. ^ "ACTEX Learning Company Metrics". CompWorth. Retrieved May 20, 2025.
  6. ^ "ACTEX Learning Company Profile". Tracxn. Retrieved May 20, 2025.
  7. ^ "Annual Impact Report". ArchiMedia Advantage. ArchiMedia Advantage Inc. Retrieved May 20, 2025.
  8. ^ "Milliman-UNDP Global Actuarial Initiative". Milliman. Milliman, Inc. Retrieved May 20, 2025.
  9. ^ "Actuarial Faculty Development Program". ACTEX Learning. Retrieved May 20, 2025.
  10. ^ "The Actuarial Bookstore". The Actuarial Bookstore. ArchiMedia Advantage Inc. Retrieved May 20, 2025.
  11. ^ "Actuarial Study Materials (ASM)". ASM - Actuarial Study Materials. ArchiMedia Advantage Inc. Retrieved May 20, 2025.
  12. ^ "Preliminary Textbooks". ACTEX Learning. Retrieved 2024-06-05.
  13. ^ "Fellowship Textbooks". ACTEX Learning. Retrieved 2024-06-05.
  14. ^ "Guided Online Actuarial Learning (GOAL)". ACTEX Learning. Retrieved May 20, 2025.
  15. ^ "VEE Exam Support". ACTEX Learning. Retrieved 2024-06-05.
  16. ^ "Validation by Educational Experience (VEE) Requirements". Society of Actuaries. Retrieved May 20, 2025.
  17. ^ "Formula and Review Sheets". ACTEX Learning. Retrieved May 20, 2025.
  18. ^ "6 Things Actuarial Students Should Be Doing". ACTEX Learning. Retrieved May 20, 2025.
  19. ^ "Textbooks". ACTEX Learning. Retrieved May 20, 2025.
  20. ^ "ACTEX Learning Discord Community". Discord. ACTEX Learning. Retrieved May 20, 2025.
  21. ^ "About ArchiMedia Advantage". ArchiMedia Advantage. ArchiMedia Advantage Inc. Retrieved May 20, 2025.
  22. ^ "The Birth of an Actuarial Learning Company" (PDF). Society of Actuaries. Retrieved May 20, 2025.
  23. ^ "ARC 2025 – Actuarial Research Conference". Google Sites. ARC 2025 Organizing Committee. Retrieved July 15, 2025.
  24. ^ "27th International Congress on Insurance: Mathematics and Economics (IME 2024)". DePaul University. College of Science and Health, DePaul University. Retrieved July 15, 2025.
  25. ^ "Stephen Camilli". Department of Mathematics, University of Connecticut. University of Connecticut. Retrieved May 20, 2025.
  26. ^ "Geoffrey Crofts Obituary". Newcomer Funeral Home. Retrieved May 20, 2025.
  27. ^ "Samuel Broverman". Department of Statistical Sciences, University of Toronto. University of Toronto. 23 December 2017. Retrieved May 20, 2025.
  28. ^ "Robert Brown". Department of Statistics and Actuarial Science, University of Waterloo. University of Waterloo. Retrieved May 20, 2025.
  29. ^ "Ian Duncan". Department of Statistics and Applied Probability, UC Santa Barbara. University of California, Santa Barbara. Retrieved May 20, 2025.
  30. ^ "Robert Eaton". CAS Community. Casualty Actuarial Society. Retrieved May 20, 2025.
  31. ^ "Brian Fannin". SOA Engage. Society of Actuaries. Retrieved May 20, 2025.
  32. ^ "Runhuan Feng". Department of Statistics, University of Illinois Urbana-Champaign. University of Illinois Urbana-Champaign. Retrieved May 20, 2025.
  33. ^ "Matthew J. Hassett". Arizona State University. Retrieved May 20, 2025.
  34. ^ "Wenjun Jiang". University of Calgary Profiles. University of Calgary. Retrieved May 20, 2025.
  35. ^ "Steve Kopp – Department of Statistical and Actuarial Sciences". University of Western Ontario. Retrieved 2024-06-05.
  36. ^ "Hans Leida". Milliman. Milliman, Inc. Retrieved July 15, 2025.
  37. ^ "InsurTechs—What Are They and Why Do Actuaries Need to Know Them?". Society of Actuaries. July 2018. Retrieved July 15, 2025.
  38. ^ "Daniël Linders". Department of Mathematics, Technical University of Munich. Technical University of Munich. Retrieved May 20, 2025.
  39. ^ "Johnny Li". CUHK Business School. The Chinese University of Hong Kong. Retrieved May 20, 2025.
  40. ^ "Ambrose Lo". Department of Statistics and Actuarial Science, University of Hong Kong. University of Hong Kong. Retrieved May 20, 2025.
  41. ^ "Mark M. Maxwell". Department of Mathematics, University of Texas at Austin. University of Texas at Austin. Retrieved May 20, 2025.
  42. ^ "Jelena Milovanovic". Arizona State University. Retrieved May 20, 2025.
  43. ^ "Matt Morton". Conference of Consulting Actuaries. Retrieved May 20, 2025.
  44. ^ "Andrew Ng". CUHK Business School. The Chinese University of Hong Kong. Retrieved May 20, 2025.
  45. ^ "Kevin L. Shirley". Department of Mathematical Sciences, Appalachian State University. Appalachian State University. 15 February 2018. Retrieved May 20, 2025.
  46. ^ "Daniel Skwire". Milliman. Milliman, Inc. Retrieved July 15, 2025.
  47. ^ Jim Weiss (10 May 2024). "The Search for the Rate Filing Fast Lane". Actuarial Review. Casualty Actuarial Society.
  48. ^ "Sheldon Summers". American Academy of Actuaries. Retrieved May 20, 2025.
  49. ^ "Abraham Weishaus". School of Professional Studies, Columbia University. Columbia University. Retrieved May 20, 2025.
  50. ^ "Directory Profile – Conference of Consulting Actuaries". Conference of Consulting Actuaries. Retrieved 2024-06-05.
  51. ^ "Tuition Providers". Institute and Faculty of Actuaries. Retrieved May 20, 2025.
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