Actuarial Science and Risk Management department web site
The information on this page pertains to program requirements for students who matriculated in the 2022-2023 academic year. View requirements for previous catalog years here.
The actuarial science program strives to provide high-quality undergraduate-level preparation for students planning careers in the actuarial profession. Students will be thoroughly grounded in the technical skills required for actuarial work and will also be prepared to be business leaders in the financial services industry.
Graduates of the program should clearly meet the entry-level expectations of the leading insurance companies and consulting firms. As such, they should be prepared to be successful on the early professional examinations of the Society of Actuaries and the Casualty Actuarial Society. In addition, they should understand the manner in which this knowledge relates to the business of insurance and be able to solve less structured problems and coherently present their solutions.
The available courses prepare students for the first six examinations of the Society of Actuaries and the first four of the six exams of the Casualty Actuarial Society. These courses also enable students to obtain credit for the three ‘Validation by Educational Experience’ subjects. Students typically are ready to take their first examination after two or three semesters and their second exam after three or four semesters.
| Course | Credits |
| Business Core Courses | |
| ACCT 041 - Introduction to Financial Accounting | 3 |
| ACCT 042 - Introduction to Managerial Accounting | 3 |
| ACTS 131 - Introduction to Probability I | 3 |
| ACTS 131L - Introduction to Probability I Lab | 0.5 |
| BUS 195 - Business Strategy and Policy | 3 |
| BLAW 060 - Business Law I | 3 |
| BUS 001, 002, 003, 004, 005 - The Business Profession I-V | 0 |
| BUS 070 - Globalization | 3 |
| BUS 073 - Professional Verbal Communications | 2 |
| BUS 074 - Professional Written Communications | 2 |
| ECON 002 - Principles of Microeconomics | 3 |
| IS 044 - Microsoft Office Tools for Business Analysis | 2 |
| IS 075 - Information Technology and Business | 3 |
| FIN 101 - Corporate Finance | 3 |
| MGMT 110 - Organizational Behavior | 3 |
| MGMT 120 - Management of Operations | 3 |
| MKTG 101 - Marketing Principles | 3 |
| Non-Business Courses | |
| MATH 050 - Calculus I | 3 |
| MATH 070 - Calculus II | 3 |
| Actuarial Science Major Courses | |
| ACTS 050 - Introduction to Actuarial Science | 0 |
| ACTS 120 - Theory of Interest | 3 |
| ACTS 120L - Theory of Interest Lab | 0.5 |
| ACTS 135 - Mathematical Statistics | 3 |
| ACTS 140 – Statistics for Risk Modeling | 3 |
| ACTS 150 - Life Insurance Mathematics I | 3 |
|
ACTS 155 - Life Insurance Mathematics II, or FIN 102 – Advanced Corporate Finance, or FIN 121 – Introduction to Derivatives, or |
3 |
| ACTS 161 - Short-Term Actuarial Math I | 3 |
| ACTS 190 - Actuarial Science Capstone | 3 |
| ECON 010 - Principles of Macroeconomics | 3 |
| INS 051 – Principles of Insurance | 3 |
| STAT 040 - Introduction to R and SAS | 3 |
| STAT 170 - Regression and Time Series | 3 |
| TOTAL | 85 |
Actuarial Science/Finance Joint Major Requirements
The joint major in actuarial science and finance provides students with an opportunity to study two subjects that require strong quantitative and analytical reasoning skills. Skill sets in finance complement actuarial science and vice versa.
The joint major prepares students for career opportunities in many facets of financial services, including insurance, banking, personal financial planning, portfolio management, and more.
For students planning to complete professional actuarial examinations, the finance courses cover several topics that appear on the advanced examinations.
| Course | Credits |
| Business Core Courses | |
| ACCT 041 - Introduction to Financial Accounting | 3 |
| ACCT 042 - Introduction to Managerial Accounting | 3 |
| ACTS 131 - Introduction to Probability I | 3 |
| ACTS 131L - Introduction to Probability I Lab | 0.5 |
| BUS 195 - Business Strategy and Policy | 3 |
| BLAW 060 - Business Law I | 3 |
| BUS 001, 002, 003, 004, 005 - The Business Profession I-V | 0 |
| BUS 070 - Globalization | 3 |
| BUS 073 - Professional Verbal Communications | 2 |
| BUS 074 - Professional Written Communications | 2 |
| ECON 002 - Principles of Microeconomics | 3 |
| IS 044 - Microsoft Office Tools for Business Analysis | 2 |
| IS 075 - Information Technology and Business | 3 |
| FIN 101 - Corporate Finance | 3 |
| MGMT 110 - Organizational Behavior | 3 |
| MGMT 120 - Management of Operations | 3 |
| MKTG 101 - Marketing Principles | 3 |
| Actuarial Science Courses Required for Actuarial Science - Finance Joint Major | |
| ACTS 120 - Theory of Interest | 3 |
| ACTS 120L - Theory of Interest Lab | 0.5 |
| ACTS 131 - Introduction to Probability I | 3 |
| ACTS 131L - Introduction to Probability I Lab | 0.5 |
| ACTS 135 - Mathematical Statistics | 3 |
| ACTS 140 – Statistics for Risk Modeling | 3 |
| ACTS 150 - Life Insurance Mathematics I | 3 |
| ACTS 161 - Short-Term Actuarial Math I | 3 |
| MATH 050 - Calculus I | 3 |
| MATH 070 - Calculus II | 3 |
| STAT 040 - Introduction to R and SAS | 3 |
| STAT 170 - Regression and Time Series | 3 |
| Finance Courses Required for Actuarial Science - Finance Joint Major | |
| ECON 010 - Principles of Macroeconomics | 3 |
| FIN 102 - Advanced Corporate Finance | 3 |
| FIN 121 – Introduction to Derivatives | 3 |
| FIN 129 - Financial Management Institutions | 3 |
| FIN 170 - International Finance | 3 |
| FIN 193 - Portfolio Analysis | 3 |
| FIN 197 -Seminar in Finance | 3 |
| TOTAL | 94.5 |
The minor in actuarial science allows students to apply solid quantitative skills in completing a few of the introductory actuarial science courses without making a full commitment to the major. The requirements for the minor include:
| Course | Credits |
| MATH 050 – Calculus I | 3 |
| MATH 070 – Calculus II | 3 |
| ACTS 120 – Theory of Interest | 3 |
| ACTS 120L - Theory of Interest Lab |
0.5 |
| ACTS 131 – Introduction to Probability I | 3 |
|
ACTS 131L – Introduction to Probability I Lab |
0.5 |
|
ACTS 140 – Statistics for Risk Modeling, or ACTS 161 – Short-Term Actuarial Math I |
3 |
|
ACTS 135 – Mathematical Statistics, or ACTS 150 – Life Insurance Mathematics I |
3 |
|
INS 051 – Personal Risk Management |
3 |
| TOTAL | 22 |
The information in this catalog does not constitute a contract between the university and the student. The university reserves the right to make changes in curricula, admission policies and processes, tuition and financial aid, academic standards and guidelines, student services and any other regulations or policies set forth in this catalog without giving prior notice.