Program Overview

Actuarial Science MS Program

The Fox School of Business and Management at Temple University offers a Master of Science in Actuarial Science. This program prepares students for a successful career in the field through its rigorous coursework and exceptional opportunities for professional development.

About the Program

The Actuarial Science MS program covers multiple professional actuarial exams and can be tailored to students' interests and background. The program is recognized as a Center of Actuarial Excellence (CAE) by the Society of Actuaries (SOA) and as a Global Center of Insurance Excellence (GCIE) by the International Insurance Society.

Time Limit for Degree Completion

The time limit for degree completion is 6 years.

Campus Location

The program is located on the Main campus.

Full-Time/Part-Time Status

The degree program can be completed on a full- or part-time basis.

Affiliation(s)

Research interests of Fox faculty are supported by numerous centers and institutes throughout the Fox School and Temple University.

Accreditation

The MS in Actuarial Science is accredited by the Association to Advance Collegiate Schools of Business (AACSB International).

Job Prospects

Actuaries hold positions of responsibility with consulting firms, government insurance programs, government regulatory organizations, insurance companies, and investment banks.

Non-Matriculated Student Policy

This program requires the student to be matriculated in the degree program.

Financing Opportunities

Citizens and permanent residents of the United States are considered domestic students and are typically eligible for federal student loans and alternative loans through private lenders. The Fox School grants 5% tuition scholarships to alumni who are admitted to the program.

Admission Requirements and Deadlines

• Application Deadline:
  • December 15 Early Admissions Deadline
  • March 1 Scholarship Deadline and International Deadline
  • June 30 Final Deadline
  • August 1 Scholarship Deadline and International Deadline
  • November 1 Final Deadline
• Letters of Reference: 1 professional reference from an immediate supervisor, current or past, is preferred. Academic references are acceptable.
• Bachelor's Degree in Discipline/Related Discipline: The equivalent of a four-year U.S. baccalaureate degree from an accredited university or college is required.
• Statement of Goals: Essay prompts can be found in the online application portal.
• Standardized Test Scores:
  • GRE/GMAT: Required. Scores for the GRE typically fall within the following percentile ranges: 50 to 99 Verbal; 80 to 99 Quantitative. Exam P, Exam FM, Exam FAM may be accepted in place of GMAT/GRE.
  • TOEFL iBT: 90
  • IELTS Academic: 7.0
  • Duolingo: 110
  • PTE Academic: 68
• Resume: Current resume or CV is required.
• Interview: Candidates are invited to interview in person or virtually. Interviews are required on a case-by-case basis.
• Optional Essay: Prompts for this optional essay can be found in the online application portal.
• Transfer Credit: Upper-level graduate credits from an AACSB-accredited graduate business program, but not previously applied to a conferred degree, may be transferred into the MS program.

Program Requirements

• Number of Credits Required Beyond the Baccalaureate: 30
• Required Courses:
  • AS 5001: Actuarial Probability
  • AS 5101: Theory of Interest
  • AS 5102: Long-Term Actuarial Modeling
  • AS 5104: Short-Term Actuarial Modeling
  • AS 5108: Actuarial Analytics
  • BA 5687: Advanced Professional Development Strategies
  • RMI 5051: Managing Risk
  • Select two from the following:
    • AS 5103: Advanced Long-Term Actuarial Modeling
    • AS 5114: Advanced Short-Term Actuarial Modeling
    • AS 5118: Advanced Actuarial Analytics
    • AS 5190: Special Topics in Actuarial Science
  • Select one from the following:
    • RMI 5101: Managing Human Capital Risk
    • RMI 5104: Managing Property and Liability Risk
• Electives:
  • Select from the following for a total of three credits:
    • ACCT 5001: Accounting for Managerial and Investment Analysis and Planning
    • AS 5015: Introduction to Actuarial Spreadsheets and Programming
    • AS 5022: Actuarial Statistics
    • AS 5103: Advanced Long-Term Actuarial Modeling
    • AS 5105: Actuarial Economics
    • AS 5106: Actuarial Corporate Finance
    • AS 5114: Advanced Short-Term Actuarial Modeling
    • AS 5116: Financial Reporting for Actuaries
    • AS 5118: Advanced Actuarial Analytics
    • AS 5126: Option Pricing
    • AS 5182: Independent Study
    • AS 5190: Special Topics in Actuarial Science
    • AS 5191: Mentored Research
    • AS 5685: Actuarial Internship
    • ECON 8001: Microeconomic Analysis
    • ECON 8002: Macroeconomic Analysis
    • ECON 8009: Econometrics I
    • ECON 8129: Time Series Econometrics
    • ECON 8139: Panel Data Econometrics
    • HCM 5101: Health Systems Organization and Development
    • HCM 5103: Financial Management of Healthcare Organizations
    • MKTG 5001: Marketing Management/Strategy
    • MKTG 5618: Quantitative Pricing and Revenue Analytics
    • RMI 5101: Managing Human Capital Risk
    • RMI 5102: Retirement Plans
    • RMI 5104: Managing Property and Liability Risk
    • RMI 5108: Managing International Risk
    • STAT 5602: Visualization: The Art of Numbers and the Psychology of Persuasion
    • STAT 5603: Statistical Learning and Data Mining
    • STAT 5607: Advanced Business Analytics
    • STAT 8101: Stochastic Processes
    • STAT 8108: Applied Multivariate Analysis I
    • STAT 8114: Survival Analysis I
    • STAT 8115: Nonparametric Methods
• Culminating Event: Successful completion of coursework is required to earn the MS degree in Actuarial Science.

Accelerated Programs

Undergraduate students may opt to pursue an accelerated +1 program, enabling them to complete both a bachelor's degree and master's degree in less time than the traditional route.

Admissions Criteria

Candidates to the +1 program must:

• meet the general +1 program admissions criteria
• complete three calculus courses with a minimum B- grade in each course
• complete a probability course (covering discrete and continuous probability distributions) with a minimum B- grade
• provide two letters of recommendation from Temple faculty

Graduate Courses Approved to Count for Both Undergraduate and Graduate Degrees

• AS 5101: Theory of Interest
• AS 5105: Actuarial Economics
• AS 5106: Actuarial Corporate Finance
• RMI 5101: Managing Human Capital Risk
• RMI 5104: Managing Property and Liability Risk

Suggested Academic Plan

Year 3:

• Fall: AS 5101 - Theory of Interest
• Spring: AS 5106 - Actuarial Corporate Finance Year 4:
• Fall: RMI 5104 - Managing Property and Liability Risk
• Spring: RMI 5101 - Managing Human Capital Risk

Alternate Suggested Academic Plan

• Fall: AS 5101 - Theory of Interest
• Spring: AS 5105 - Actuarial Economics Year 4:
• Fall: AS 5106 - Actuarial Corporate Finance
• Spring: RMI 5104 or RMI 5101 - Managing Property and Liability Risk or Managing Human Capital Risk