Actuarial Science Major, BS

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An actuary is a business professional who uses specialized skills from probability, statistics and economics to define, analyze, and solve financial and social problems. Actuaries create and manage insurance programs that reduce the adverse financial impact of both expected and unexpected events, such as illnesses, accidents, death, or catastrophes. In addition, actuaries design healthcare and pension plans, making sure there are sufficient resources to pay health and retirement benefits while charging participants a fair price. Actuaries are also in demand in the growing enterprise risk management field, helping companies analyze and hedge risks.

The bachelor of science in actuarial science is listed below and is designed to prepare a student in both the mathematics and business areas necessary for success in the rigorous but rewarding actuarial profession.

Admission Requirements
Completion of MATH 172 and MATH 173 with grades of C or higher.

Graduation Requirements
All courses in the major must be completed with grades of C or higher.

Required Courses

ACCT 251 - Financial Accounting Credits: (5)
OR ACCT 301 - Accounting Skills for Non-Business Majors Credits: (5) (ACCT 301 recommended.)
CS 105 - The Logical Basis of Computing Credits: (4)
OR CS 110 - Programming Fundamentals I Credits: (4)
CS 367 - Advanced Visual Basic Programming Credits: (4)
ECON 201 - Principles of Economics Micro Credits: (5)
ECON 202 - Principles of Economics Macro Credits: (5)
FIN 370 - Introductory Financial Management Credits: (5)
FIN 475 - Investments Credits: (5)
MATH 172 - Calculus I Credits: (5)
MATH 173 - Calculus II Credits: (5)
MATH 265 - Linear Algebra I Credits: (4)
MATH 272 - Multivariable Calculus I Credits: (5)
MATH 273 - Multivariable Calculus II Credits: (5)
MATH 311 - Statistical Concepts and Methods Credits: (5)
OR MATH 314 - Probability and Statistics Credits: (5)
MATH 410A - Advanced Statistical Methods I Credits: (4)
MATH 410B - Advanced Statistical Methods II Credits: (4)
MATH 411A - Probability Theory Credits: (4)
MATH 411B - Mathematical Statistics I Credits: (3)
MATH 411C - Mathematical Statistics II Credits: (3)
MATH 418A - Financial Mathematics I Credits: (4)
MATH 418B - Financial Mathematics II Credits: (4)
MATH 418C - Financial Mathematics III Credits: (4)
MATH 489A - Actuarial Senior Seminar: Predictive Analytics and Actuarial Modeling Credits: (3)

Select one of the following sequences - Credits: 11

Short-Term Actuarial Mathematics

MATH 417A - Short-Term Actuarial Mathematics I Credits: (4)
MATH 417B - Short-Term Actuarial Mathematics II Credits: (4)
MATH 417C - Short-Term Actuarial Mathematics III Credits: (3)
OR

Long-Term Actuarial Mathematics

MATH 419A - Long-Term Actuarial Mathematics I Credits: (4)
MATH 419B - Long-Term Actuarial Mathematics II Credits: (4)
MATH 419C - Long-Term Actuarial Mathematics III Credits: (3)

Total Credits: 106

College and Department Information

Mathematics Department
College of the Sciences

Program Outcomes
Visit program outcomes to find out what you can expect to know and do after successful completion of this program.

Program Learner Outcomes

Upon successful completion of this program, the student will be able to:

Use statistical methods to analyze and model time-independent and time-series data
Use statistical methods and credibility theory to analyze and model insurance loss data.
Formulate actuarial problems in mathematics, probabilistic and statistical terms.
Apply common probability distributions to actuarial applications.
Apply concepts of differential and integral calculus to actuarial problems.
Employ simulation techniques to analyze and solve dynamic and complex stochastic and mathematical models
Use programming languages such as C++, S, or Visual Basic
Communicate results and solutions of mathematical, statistical, and actuarial problems in writing using everyday and mathematical language.
Communicate mathematical and statistical solutions orally, using both everyday and mathematical language.