Program Overview

Actuarial Science Program

The Actuarial Science degree program is designed to prepare students to analyze and help organizations manage the financial consequences of risk and uncertainty. Students will learn to interpret statistics to determine probabilities of accidents, sickness, death, and/or the loss of property from theft, cybercrime, natural disasters, and other phenomena.

Program Overview

Graduates of the Actuarial Science program will be equipped with the skills necessary to sit for actuary certification exams. The program utilizes mathematics, statistics, and financial theory to study uncertain future events, especially those concerning risk management and insurance. Students will also learn to apply the laws of probability and statistics to problems and calculate the financial costs and benefits of insurance for various individuals.

Coursework

The program includes a range of coursework, such as:

• Applied Regression Analysis
• Linear Algebra
• Money and Banking
• Multivariable Calculus
• Principles of Corporate Finance for Actuaries
• Principles of Risk and Insurance
• Probability and Statistics
• Risk Management

Major Requirements

In addition to the College Core Requirements and Liberal Studies Requirements, students majoring in Actuarial Science are required to complete the following courses, totaling at least 44.0 hours:

• DSC 341: Foundations of Data Science (4 hours)
• FIN 251: Career Management in Actuarial Science (0 hours)
• FIN 365: Principles of Risk & Insurance (4 hours)
• MAT 260: Multivariable Calculus I (4 hours)
• MAT 262: Linear Algebra (4 hours)
• MAT 351: Probability and Statistics I (4 hours)
• MAT 352: Probability and Statistics II (4 hours)
• MAT 353: Probability and Statistics III (4 hours)
• MAT 361: Theory of Interest (4 hours)
• MAT 368: Mathematics for Finance (4 hours) or MAT 369: Actuarial Science Seminar

Electives

Students must select two elective courses to be chosen as a pair from the following options:

• Elective Pair 1: DSC 323 (Data Analysis and Regression) and DSC 324 (Advanced Data Analysis)
• Elective Pair 2: MAT 356 (Applied Regression Analysis) and MAT 358 (Applied Time Series and Forecasting)
• Elective Pair 3: MAT 359 (Simulation Models and Monte Carlo Method) and MAT 360 (Generalized Linear Models)
• Elective Pair 4: MAT 362 (Life Contingencies I) and MAT 363 (Life Contingencies II)
• Elective Pair 5: MAT 364 (Loss Models I) and MAT 365 (Loss Models II)
• Elective Pair 6: MAT 362 (Life Contingencies I) and MAT 364 (Loss Models I)

Career Management Course

Students are required to complete the Career Course (FIN 251) associated with the major. Students who double major may choose the Career Course (250/251) associated with either major, provided that hours for graduation are satisfied.

Open Electives

Open elective credit (8.0 hours) is needed to meet the minimum graduation requirement of 192 hours.

Graduation Requirements

All Finance (FIN) courses and any course used towards the Actuarial Science major must be completed with a minimum grade of C- and with a combined GPA of 2.000 or higher.

Career Options

Graduates of the Actuarial Science program can pursue a variety of career paths, including:

• Actuary
• Assessor
• Claims adjustor
• Cost estimator
• Credit analyst
• Financial planner
• Insurance underwriter
• Risk analyst

Program Outcomes

95% of Actuarial Science graduates were employed, continuing their education, or not seeking employment after graduation.