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Students
Tuition Fee
Start Date
Medium of studying
Duration
Program Facts
Program Details
Degree
Masters
Major
Actuarial Science | Statistics | Probability Theory
Area of study
Mathematics and Statistics
Course Language
English
About Program

Program Overview


The MS in Actuarial Science at ASU equips students with expertise in risk assessment, management, and decision-making. The program emphasizes industry-relevant issues and innovative solutions, preparing students for professional credentials and careers in insurance, finance, and consulting. International students may benefit from a STEM-OPT extension for up to 36 months.

Program Outline


Actuarial Science, MS - MS | Degree Details | ASU Degree Search


Degree Overview:


Objectives:

  • Become an expert in finding ways to assess, calculate and manage risk.
  • Participate in high-level business decision-making.
  • Prepare for the examinations required to become credentialed professionals by the Society of Actuaries or Casualty Actuarial Society.
  • Gain skills and experience in the US through the STEM-OPT extension for up to 36 months (for international students on F-1 visas).

Description:

  • The program emphasizes awareness and appreciation of current issues faced by insurance industry practitioners as well as innovative resolutions provided by actuaries.
  • Students advance their knowledge base by applying mathematical and statistical concepts and data analytics to the disciplines of risk management, finance and insurance.
  • The program includes a new, focused set of professional learning outcomes aligned with the needs of the ever-evolving insurance industry, while keeping the core technical learning outcomes in place.
  • These guide students' development of professional competencies through coursework, independent projects and opportunities outside the classroom, while remaining firmly based on a strong foundation of scholarly technical work in actuarial science.

Outline:


Content:

  • Mathematical and statistical concepts and data analytics
  • Risk management
  • Finance
  • Insurance

Structure:

  • 30 credit hours including the required applied project course (ACT 593)
  • Required Core (6 credit hours)
  • ACT 560 Regression Modeling In Insurance (3)
  • ACT 561 Machine Learning and Risk Management Applications (3)
  • Electives or Research (21 credit hours)
  • Seven courses from an approved list
  • Only six credit hours of 400-level coursework are allowed on the plan of study, per Graduate College policy.
  • Culminating Experience (3 credit hours)
  • ACT 593 Applied Project (3)

Schedule:

  • Fall and Spring semesters

Modules:

  • Required Core:
  • Regression Modeling In Insurance
  • Machine Learning and Risk Management Applications
  • Electives or Research:
  • Students select seven courses from an approved list
  • Culminating Experience:

Careers:

  • Potential Industries:
  • Consulting
  • Energy
  • Environment
  • Financial Services
  • Government Agencies
  • Higher Education
  • Insurance
  • Retirement and Pensions
  • Transportation
  • Potential Positions:
  • Analyst
  • Business Operations Specialist
  • Consultant
  • Teacher
  • Skills Transferable to Other Fields:
  • Problem-solving

Admission Requirements:

  • Bachelor's degree (or equivalent) or master's degree from a regionally accredited college or university in a related field.
  • Minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in the last 60 hours of their first bachelor's degree program or a minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in an applicable master's degree program.
  • Completion of specific prerequisite courses with a "B" or better (scale is 4.00 = "A").
  • Graduate admission application and application fee
  • Official transcripts
  • Letter of intent or written statement
  • Two letters of recommendation
  • Professional resume
  • Proof of English proficiency (if applicable)

Application Deadlines:

  • Fall:
  • Session A/C: deadline is July 1st (final)
  • Spring:
  • Session A/C: deadline is December 10th (final)

Other:

  • The program is offered as an accelerated bachelor's plus master's degree with Actuarial Science, BS.
  • Acceptance to the graduate program requires a separate application.
  • Students typically receive approval to pursue the accelerated master's during the junior year of their bachelor's degree program.
  • International students on F-1 visas may be eligible for a STEM-OPT extension for up to 36 months.
  • ASU offers programs in an entirely online format with multiple enrollment sessions throughout the year.
  • Students from western states may be eligible for a reduced nonresident tuition rate.
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Arizona State University: A Comprehensive Overview


Overview:

Arizona State University (ASU) is a top-ranked research university located in the greater Phoenix metropolitan area. It is known for its innovative approach to education, offering a wide range of undergraduate and graduate programs across various disciplines. ASU is recognized for its commitment to inclusivity, serving learners at all stages of life and fostering a diverse and welcoming community.


Services Offered:

ASU provides a comprehensive range of services to support student success, including:

    Academic Support:

    Tutoring, advising, and academic success resources.

    Financial Aid:

    Scholarships, financial aid programs, and tuition assistance.

    Student Life:

    Housing and dining, clubs and activities, health and wellness services, and transportation.

    Career Services:

    Job and career resources, internship opportunities, and career counseling.

Student Life and Campus Experience:

ASU offers a vibrant and engaging campus experience with a strong sense of community. Students can participate in a wide array of clubs, organizations, and events, fostering personal growth and development. The university's diverse student body creates a rich cultural environment, promoting global perspectives and intercultural understanding.


Key Reasons to Study There:

    Top-Ranked Programs:

    ASU boasts numerous top-ranked programs, including 82 programs ranked in the top 25 nationally, with 37 in the top 10.

    Innovative Learning Environment:

    ASU embraces a flexible and personalized approach to learning, allowing students to customize their academic journey.

    World-Class Faculty:

    Students benefit from instruction led by renowned professors and researchers, many of whom are leaders in their fields.

    Global Impact:

    ASU is consistently ranked among the top universities for global impact, demonstrating its commitment to addressing global challenges.

    Diverse and Inclusive Community:

    ASU fosters a welcoming and inclusive environment, embracing students from all backgrounds and promoting a sense of belonging.

Academic Programs:

ASU offers over 800 degree programs across a wide range of disciplines, including:

    Undergraduate:

    More than 400 undergraduate degrees in fields such as engineering, journalism, business, sustainability, nursing, education, and more.

    Graduate:

    Over 450 graduate degrees, including master's and doctoral programs.

Other:

ASU is known for its commitment to research and innovation, with a strong focus on addressing real-world challenges. The university is also a leader in sustainability, promoting environmental responsibility and social justice.

Total programs
1434
Average ranking globally
#58
Average ranking in the country
#40
Admission Requirements

Entry Requirements:


Academic Requirements:

  • Bachelor's degree (or equivalent) or master's degree from a regionally accredited college or university in a related field, such as mathematics, statistics, business, economics, or predictive analytics.
  • Minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in the last 60 hours of the applicant's first bachelor's degree program or a minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in an applicable master's degree program.

Coursework Requirements:

  • Completion of the following courses with a "B" or better (scale is 4.00 = "A"):
  • Linear Algebra (MAT 342 or MAT 343)
  • Calculus sequence 1-3 (MAT 270, 271, and MAT 272)
  • Applied Statistics (STP 420)
  • Upper-division probability (ACT 415 or STP 421)

Additional Requirements:

  • Official transcripts
  • Letter of intent or written statement
  • Two letters of recommendation
  • Professional resume
  • Proof of English proficiency (if applicable)

English Proficiency Requirements:

Applicants whose native language is not English must provide proof of English proficiency regardless of their current residency. Acceptable forms of proof include:

  • TOEFL score of 80 or higher
  • IELTS score of 6.5 or higher
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