Actuarial Science, MS

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.