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Toby White, Ph.D., CFA, FSA

Associate Professor of Finance & Actuarial Science

Toby White received his B.A. in Mathematics and Music from Kalamazoo College, his M.S. in Statistics and Actuarial Science from University of Iowa, and his Ph.D. in Statistics from University of Washington. He is a Fellow of the Society of Actuaries (FSA) and a CFA charterholder. He has received the Undergraduate Teaching Award and teaches actuarial science courses and finance courses including advanced corporate finance and derivative mathematics. He has publications in SOA: Managing the Impact of Long-Term Care Needs and Expense on Retirement Security Monograph, Journal of Business and Behavioral Sciences, CAS eForum, Statistics in Medicine, Risk Management and Insurance Review, International Research Journal of Applied Finance, and CPCU eJournal.

Contact Information

Phone: 515-271-3179
Mailing Address:
    2507 University Ave
    Des Moines, IA 50311
Office: 350 Aliber Hall


  • Ph.D., Statistics: University of Washington, Seattle
  • M.S., Statistics and Actuarial Science: University of Iowa
  • B.A., Mathematics and Music: Kalamazoo College

Teaching, Research & Areas of Expertise

  • U.S. Long-Term Care Insurance and Markets
  • Latent Class Transition Models
  • Extreme Volatility in U.S. Stocks
  • Financial Risk Tolerance
  • Chair of Exam MFE Curriculum Committee

Courses Taught

  • Theory of Interest (Acts 120)
  • Introduction to Derivatives (Acts 121/Fin 121)
  • Introduction to Probability I (Acts 131)
  • Introduction to Probability II (Acts 132)
  • Derivatives Mathematics (Acts 145)
  • Life Insurance Mathematics II (Acts 151)
  • Credibility and Simulation (Acts 160)
  • Corporate Finance (Fin 101)
  • Advanced Corporate Finance (Fin 102)
  • Portfolio Analysis (Fin 193)
February 7, 2018
Drake University is proud to announce that it has been selected as an institute partner for the 2018 Mandela Washington Fellowship for Young African Leaders.