FAQs

What is Modeling the Future Challenge?

The Modeling The Future Challenge (MTF) is a new academic challenge hosted by The Actuarial Foundation (TAF) with design and operations support from The Institute of Competition Sciences. The premise is simple. Students are challenged to develop and present their own mathematical models describing how they envision a new technology or industry will change the future. The 2017-2018 topic: autonomous vehicles!

Who can participate in the challenge?

High school students in their Junior or Senior years, or the equivalent in home-school or informal educational systems.

Is this an individual or team challenge?

Submissions can be the work of 1 to 3 students.

What does it take to enter?

Students must submit a written report describing how they expect autonomous vehicles will change the future. The report must be backed up by mathematical analysis and projections.

How do I sign up?

Submissions are not due until November 25th, but educators and students interested in the challenge should register early by clicking here to receive more detailed information about the challenge. Registering will provide access to our mentors, online webinars, support materials, and bonus resources that will help with submissions.

How much does it cost?

It is absolutely FREE.

What can I win?

$55,000 in college scholarships from The Actuarial Foundation are available. In addition, students selected as finalists will be invited to New York City to participate in the Modeling The Future Symposium where they will have one-of-a-kind experiences to meet and learn from actuarial professionals about the career opportunities and benefits of being an actuary. Teachers can also earn funding for their classroom through The Actuarial Foundation's math grants and educator awards. 

Do students need a teacher to submit?

Every submission needs an official adult "coach" to help guide students through the process and access Modeling the Future Mentors and other resources. Your coach can be any adult 18+ years old. It could be your parent, after-school club leader, teacher or any other adult adviser.

When does the challenge start?

Initial information about the challenge topic is up online now, but additional resources will be made available to registered educators and students at the official launch of the challenge on July 8th. The final submission deadline is November 25th. For a full list of informational milestones and deadlines see the timeline page.

How many submissions do you expect?

This is the inaugural year of the Modeling the Future Challenge so an exact number of submissions is hard to judge. We encourage all high school juniors and seniors to test their hand at modeling the future for a shot at our scholarship awards. Pursuing mathematically inclined college majors and careers can lead to great upshots in terms of job availability, satisfaction, and salaries! The Modeling The Future Challenge scholarships can help.

Is this a national competition?

Yes, students from across the United States are eligible for the MTF Challenge.

Why should I enter this competition?

Through the MTF Challenge you will gain an experience that opens new perspectives, technologies and opportunities. You will be learning about one of the most innovative technologies of our time, have a chance to learn valuable skills that could lead to great new college and career opportunities for you. You will also learn about what it would be like if you were an actuary and why being an actuary can be a great career option for all kinds of students. And on top of all of that, you will have the shot at $55,000 in college scholarships!

Who can I contact for guidance through this competition?

The Modeling the Future Challenge has recruited actuaries to serve as mentors who will be available to provide guidance and answer questions as you prepare your submission. Check out the "Ask an Actuary" system if you have a specific question you would like to ask, or request an official mentor if you want more broad-based help with ideas and guidance on your submission. You will need to create a free account on our site to access these support systems. 

Who hosts this competition?

The Actuarial Foundation, whose mission is to enhance math education and financial literacy through the talents and resources of actuaries, has created this competition for junior and senior high school students across the United States. The challenge is managed by the Institute of Competition Sciences, a global leader in challenge-based-learning.

What is an Actuary?

Actuaries use math, analytical skills, business knowledge and human behavior to manage some of the complex risks facing businesses and our society. For more information on the actuarial profession, please visit www.beanactuary.org