2020-21 Modeling the Future Challenge

Ages:High School

Types:Submission, Presentation

Categories:Business, economics, Finance, Mathematics, Programming Language, STEM

Scope:National

Registration

Entry Fee: $

Contact

Paul Myers
challenge@mtfchallenge.org

The Modeling the Future Challenge is a real-world competition for high school students combining math-modeling, data-analysis, and risk-management into one exciting challenge! To compete, students conduct their own research project modeling real-world data to analyze risks and make recommendations to companies, industry groups, governments, or organizations. This challenge tasks students to use critical thinking, mathematical reasoning, and analytical skills to help guide future decisions based on your own risk analysis! You’ll also have a shot at your part of the $60,000 award purse!

To start the challenge, students must complete a Scenario in which they are given a real-world dataset and must answer approximately 30 fundamental questions regarding statistics and mathematical modeling to make sure they have developed the skills needed to complete their own actuarial research project. For all teams passing through the scenario phase, they will define and conduct a project of their own choosing - following the Actuarial Process as a guide - and will complete a research report detailing their methodology, analysis, and recommendations. All teams in accepted into the Project Phase of the program will be connected with an actuary mentor to help guide the students through the Actuarial Process and complete their research report.

Project Reports are evaluated based on a rubric composed of the following criteria:
  • Executive summary (6 points)
  • Background information (6 points)
  • Data methodology (9 points)
  • Mathematics methodology (12 points)
  • Risk Characterization (12 points)
  • Recommendations (12 points)
  • Overall Communication (9 points)
MTFC 2020-21 Participant

Team Award. $0.

For all teams that submit a scenario response to the 2020-21 MTFC.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 Semi-Finalist

Team Award. $0.

Award for all teams that pass the introductory scenario round and are admitted to the main Project Phase of the Challenge.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 Honorable Mention

Team Award. $0.

For all teams completing their Project Report and receiving an Honorable Mention notice from the judging committee.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 Finalist

Team Award. $0.

For all teams selected as finalists and invited to the symposium presentation round of the Challenge.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 Fourth Place

Team Award. $5000.

Awarded overall 4th place from the MTFC Symposium presentations

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 Third Place

Team Award. $10000.

Team Awarded third place from the symposium presentations.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 Second Place

Team Award. $15000.

Team awarded overall 2nd place from the MTFC Symposium presentations.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 First Place

Team Award. $25000.

Team awarded overall 1st place from the MTFC Symposium presentations.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

Website: https://www.mtfchallenge.org

Managing Organization: The Actuarial Foundation

Contact:
Paul Myers
challenge@mtfchallenge.org

Eligibility:
Students in their Junior or Senior year of high school from anywhere in the United States. Students can be from formal, informal, or home-school groups.

Overview

The Modeling the Future Challenge is a real-world competition for high school students combining math-modeling, data-analysis, and risk-management into one exciting challenge! To compete, students conduct their own research project modeling real-world data to analyze risks and make recommendations to companies, industry groups, governments, or organizations. This challenge tasks students to use critical thinking, mathematical reasoning, and analytical skills to help guide future decisions based on your own risk analysis! You’ll also have a shot at your part of the $60,000 award purse!

Process

To start the challenge, students must complete a Scenario in which they are given a real-world dataset and must answer approximately 30 fundamental questions regarding statistics and mathematical modeling to make sure they have developed the skills needed to complete their own actuarial research project. For all teams passing through the scenario phase, they will define and conduct a project of their own choosing - following the Actuarial Process as a guide - and will complete a research report detailing their methodology, analysis, and recommendations. All teams in accepted into the Project Phase of the program will be connected with an actuary mentor to help guide the students through the Actuarial Process and complete their research report.

Criteria

Project Reports are evaluated based on a rubric composed of the following criteria:
  • Executive summary (6 points)
  • Background information (6 points)
  • Data methodology (9 points)
  • Mathematics methodology (12 points)
  • Risk Characterization (12 points)
  • Recommendations (12 points)
  • Overall Communication (9 points)

Awards

MTFC 2020-21 Participant

Team Award. $0.

For all teams that submit a scenario response to the 2020-21 MTFC.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 Semi-Finalist

Team Award. $0.

Award for all teams that pass the introductory scenario round and are admitted to the main Project Phase of the Challenge.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 Honorable Mention

Team Award. $0.

For all teams completing their Project Report and receiving an Honorable Mention notice from the judging committee.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 Finalist

Team Award. $0.

For all teams selected as finalists and invited to the symposium presentation round of the Challenge.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 Fourth Place

Team Award. $5000.

Awarded overall 4th place from the MTFC Symposium presentations

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 Third Place

Team Award. $10000.

Team Awarded third place from the symposium presentations.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 Second Place

Team Award. $15000.

Team awarded overall 2nd place from the MTFC Symposium presentations.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

MTFC 2020-21 First Place

Team Award. $25000.

Team awarded overall 1st place from the MTFC Symposium presentations.

This award counts toward these ICS Academic Badges. Click on a badge for further info.

Participate

Website: https://www.mtfchallenge.org

Managing Organization: The Actuarial Foundation

Contact:
Paul Myers
challenge@mtfchallenge.org

Entry Fee:

Eligibility:
Students in their Junior or Senior year of high school from anywhere in the United States. Students can be from formal, informal, or home-school groups.

Deadlines

Deadlines go here