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.
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.
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