Program Overview

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Actuarial Science, MS

The Master of Science program in actuarial science emphasizes broad awareness and appreciation of current issues faced by insurance industry practitioners as well as innovative resolutions provided by actuaries.

Program Description

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 also 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.

At a Glance

• College/school: The College of Liberal Arts and Sciences
• Location: Tempe
• STEM-OPT extension eligible: Yes

Accelerated Program Options

This program allows students to obtain both a bachelor's and a master's degree in as little as five years. Accelerated bachelor's plus master's degree programs are designed for high-achieving students who want the opportunity to share undergraduate coursework with graduate coursework to accelerate completion of their master's degree.

Degree Requirements

• 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)
• Culminating Experience (3 credit hours)
  • ACT 593 Applied Project (3)

Admission Requirements

• General university admission requirements
• Applicants must have earned a 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
• All applicants must submit:
  • Graduate admission application and application fee
  • Official transcripts
  • Letter of intent or written statement
  • Two letters of recommendation
  • Professional resume
  • Proof of English proficiency

Tuition Information

When it comes to paying for higher education, everyone’s situation is different. Students can learn about ASU tuition and financial aid options to find out which will work best for them.

Application Deadlines

• Fall: 07/01 (Final)
• Spring: 12/10 (Final)

Program Learning Outcomes

• Apply appropriate techniques to analyze insurance datasets in coursework
• Conduct all analyses in the field of actuarial science that appear on the preliminary actuarial exams
• Use traditional and nontraditional predictive analytics to analyze large insurance data sets from real-world problems

Career Opportunities

Risk is a part of daily life, and wherever there is risk, there are opportunities for actuarial intervention. Many actuaries work with insurance companies to calculate premiums, to determine reserves needed to ensure an organization's financial health, and to ensure that organizations conform to stringent, complex legal mandates. Others help companies to establish retirement plans or are employed as consultants.

Professional Licensure

ASU programs that may lead to professional licensure or certification are intended to prepare students for potential licensure or certification in Arizona. Completion of an ASU program may not meet educational requirements for licensure or certification in another state. For more information, students should visit the ASU professional licensure webpage.