Program Overview

School of Natural Sciences and Mathematics

The School of Natural Sciences and Mathematics offers a Bachelor of Science in Actuarial Science degree. This program is administered through the Department of Mathematical Sciences and provides students with a rigorous mathematical background, including all major courses taken by students majoring in mathematics or statistics. Additionally, ten courses devoted to finance, economics, applied statistics, insurance, and actuarial science are required. Upon completion of this program, a student will have the knowledge and business background necessary to pursue a career as an actuary, as well as to undertake graduate study in actuarial science, statistics, mathematics, economics, or finance. The program is designed to prepare students for the actuarial profession and to provide a strong foundation for future academic or professional pursuits. The faculty for this program includes professors with expertise in mathematics, statistics, and actuarial science.

Bachelor of Science in Actuarial Science

The Bachelor of Science in Actuarial Science degree requires 120 semester credit hours. The program includes core curriculum requirements, major requirements, and elective requirements.

Faculty

The faculty for the Actuarial Science program includes:

• Professors: Larry P. Ammann, Zalman I. Balanov, Sam Efromovich, Susan E. Minkoff, Viswanath Ramakrishna
• Clinical Professor: Ronald D. Dearing, Natalia Humphreys
• Associate Professor: Mieczyslaw K. Dabkowski
• Assistant Professor: Bhargab Chattopadhyay
• Senior Lecturers: Malgorzata Dabkowska, Yuly Koshevnik

Core Curriculum Requirements

The core curriculum requirements for the Actuarial Science program include:

• Communication: 6 semester credit hours
  • COMM 1311 Survey of Oral and Technology-based Communication
  • RHET 1302 Rhetoric
• Mathematics: 3 semester credit hours
  • MATH 2417 Calculus I
• Life and Physical Sciences: 6 semester credit hours
  • PHYS 2325 Mechanics
  • PHYS 2326 Electromagnetism and Waves
• Language, Philosophy and Culture: 3 semester credit hours
  • HUMA 1301 Exploration of the Humanities
• Creative Arts: 3 semester credit hours
  • ARTS 1301 Exploration of the Arts
• American History: 6 semester credit hours
  • HIST 1301 U.S. History Survey to Civil War
  • HIST 1302 U.S. History Survey from Civil War
• Government / Political Science: 6 semester credit hours
  • GOVT 2305 American National Government
  • GOVT 2306 State and Local Government
• Social and Behavioral Sciences: 3 semester credit hours
  • ECON 2301 Principles of Macroeconomics
• Component Area Option: 6 semester credit hours
  • MATH 2417 Calculus I
  • MATH 2419 Calculus II
  • PHYS 2125 Physics Laboratory I

Major Requirements

The major requirements for the Actuarial Science program include:

• Major Preparatory Courses: 33 semester credit hours beyond Core Curriculum
  • ACCT 2301 Introductory Financial Accounting
  • ACCT 2302 Introductory Management Accounting
  • BCOM 3310 Business Communication
  • CS 1336 Programming Fundamentals
  • CS 1136 Computer Science Laboratory
  • CS 1337 Computer Science I
  • ECON 2302 Principles of Microeconomics
  • MATH 2417 Calculus I
  • MATH 2419 Calculus II
  • MATH 2418 Linear Algebra
  • MATH 2420 Differential Equations with Applications
  • MATH 2451 Multivariable Calculus with Applications
  • PHYS 2325 Mechanics
  • PHYS 2326 Electromagnetism and Waves
  • PHYS 2125 Mechanics Laboratory
  • PHYS 2126 Electromagnetism and Waves Laboratory
  • CHEM 1111 General Chemistry I Laboratory
  • CHEM 1112 General Chemistry II Laboratory
• Major Core Courses: 45 semester credit hours
  • ACTS 4301 Principles of Actuarial Models: Life Contingencies I
  • ACTS 4302 Principles of Actuarial Models: Financial Economics
  • ACTS 4304 Construction and Evaluation of Actuarial Models
  • ACTS 4308 Actuarial Financial Mathematics
  • FIN 3320 Business Finance
  • FIN 3390 Introduction to Financial Modeling
  • MATH 3310 Theoretical Concepts of Calculus
  • MATH 3311 Abstract Algebra I
  • MATH 3379 Complex Variables
  • MATH 4334 Numerical Analysis
  • ITSS 3300 Information Technology for Business
  • STAT 3355 Data Analysis for Statisticians and Actuaries
  • STAT 4351 Probability
  • STAT 4352 Mathematical Statistics
  • STAT 4382 Stochastic Processes

Elective Requirements

The elective requirements for the Actuarial Science program include 1 semester credit hour.

Preparation for Actuarial Exams

The Actuarial Science program prepares students for the following actuarial exams:

• Exam 1/P: STAT 4351 or ACTS 4306
• Exam 2/FM: ACTS 4308, FIN 3320
• Exam 3L/MLC: ACTS 4301
• Exam 3F/MFE: ACTS 4302
• Exam 4/C: ACTS 4304

Validation by Educational Experience (VEE) Credits

The Actuarial Science program offers VEE credits in the following areas:

• Applied Statistical Methods: STAT 3355 and STAT 4382
• Corporate Finance: FIN 3320
• Economics: ECON 2301 and ECON 2302

Fast Track Baccalaureate/Master's Degrees

The Actuarial Science program offers a Fast Track option, which allows well-qualified undergraduate students to take up to 15 graduate semester credit hours that may be used to complete the baccalaureate degree and also to satisfy the requirements for the master's degree. Interested students should see the Associate Dean of Undergraduate Education for specific requirements.