College of Business and Public Administration

Actuarial Science

The information on this page pertains to program requirements for students who matriculated in the 2019-2020 academic year.  View requirements for previous catalog years here.

Program Options

Actuarial Science and Risk Management department web site


Program Overview

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.


Actuarial Science Major Requirements

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 4
MATH 070 - Calculus II 4
MATH 100 - Calculus III 4
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 121 - Introduction to Derivatives 3
ACTS 135 - Mathematical Statistics 3
ACTS 150 - Life Insurance Mathematics I 3
ACTS 155 - Life Insurance Mathematics II, or
ACTS 165 - Short-Term Actuarial Science II, or
STAT 172 - Data Mining/General Linear Models
3
ACTS 161 - Short-Term Actuarial Math I 3
ACTS 190 - Actuarial Science Capstone 3
ECON 010 - Principles of Macroeconomics 3
FIN 102 - Advanced Corporate Finance 3
STAT 040 - Introduction to R and SAS 3
STAT 170 - Statistical Modeling and Data Analysis II 3
TOTAL 87

 


Actuarial Science Joint Major Requirements

A joint major in actuarial science and another discipline provides students with an opportunity to study actuarial science and another, usually complementary subject in some depth.

Below please find the essential courses that must be completed for a joint major with Actuarial Science.  Other courses required depend on what second major gets paired with actuarial science for a joint major.

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
Courses Required for Actuarial Science Joint Major
ACTS 120 - Theory of Interest 3
ACTS 120L - Theory of Interest Lab 0.5
ACTS 121 - Introduction to Derivatives 3
ACTS 131 - Introduction to Probability I 3
ACTS 131L - Introduction to Probability I Lab 0.5
ACTS 135 - Mathematical Statistics 3
ACTS 150 - Life Insurance Mathematics I 3
ACTS 161 - Short-Term Actuarial Math I 3
MATH 050 - Calculus I 4
MATH 070 - Calculus II 4
MATH 100 - Calculus III 4
STAT 040  - Introduction to R and SAS 3
STAT 170 - Statistical Modeling and Data Analysis II 3
Completion of Courses Required for Other Discipline in Joint Major varies
TOTAL varies

In the next section below, you will find the specific courses from actuarial science and finance that must be completed for a joint major in these two fields.  Other majors can be paired with actuarial science.  Please consult the relevant departments for more information about the courses that would be required in joint majors besides finance.

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 121 - Introduction to Derivatives 3
ACTS 131 - Introduction to Probability I 3
ACTS 131L - Introduction to Probability I Lab 0.5
ACTS 135 - Mathematical Statistics 3
ACTS 150 - Life Insurance Mathematics I 3
ACTS 161 - Short-Term Actuarial Math I 3
MATH 050 - Calculus I 4
MATH 070 - Calculus II 4
MATH 100 - Calculus III 4
STAT 040  - Introduction to R and SAS 3
STAT 170 - Statistical Modeling and Data Analysis II 3
Finance Courses Required for Actuarial Science - Finance Joint Major
ECON 010 - Principles of Macroeconomics 3
FIN 102 - Advanced Corporate Finance 3
FIN 129 - Financial Management Institutions 3
FIN 170 - International Finance 3
FIN 193 - Portfolio Analysis 3
FIN 197 -Seminar in Finance 3
TOTAL 96.5

 


Concentration in Actuarial Science Requirements

The concentration 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 concentration are:

Course Credits
ACTS 120 - Theory of Interest 3
ACTS 120L - Theory of Interest Lab 0.5
ACTS 121 - Introduction to Derivatives, or
ACTS 161 - Short-Term Actuarial Math I
3
ACTS 131 - Introduction to Probability I 3
ACTS 131L - Introduction to Probability I Lab 0.5
TOTAL 10

The concentration is open to any student who belongs to the College of Business and Public Administration who meets the pre-requisites for the courses noted above.

 

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.