# Actuarial Science Major B.S.

- Preparation for entering the actuarial profession
- Strong business component
- Preparation to pass the first actuarial examination before graduation
- Careers in insurance industry, financial services (i.e. investment management, banking), health administration, energy corporations, environmental organizations, transportation and more

**Major code** BS3105

**Faculty Contact**: Dr. Todd Young

## Program Overview

The following program is intended to prepare students for entering the actuarial profession and related careers in the insurance industry. You should be prepared to pass at least two actuarial examinations before graduation.

The program has a strong finance component and with the addition of FIN 3270, and FIN 3410 it satisfies the requirements for a Finance Minor. When planning a course of study in actuarial science, it is strongly recommended that you consult an advisor in the Mathematics Department.

Visit BeAnActuary.org to see why actuarial science consistently ranks as one of the top five careers in the United States and to learn about the Society of Actuaries examinations. Graduates from the program also find employment opportunities in other businesses where it is important to manage risk.

We recommend students take as many of the following courses as time allows:

- MATH 3400- Elementary Differnetial Equations
- MATH 4560- Life Contingencies (preparation for SOA MLC/CAS LC exams)

Other majors in the mathematical sciences offered by the Mathematics Department are the B.S. in mathematics, applied mathematics, and mathematical statistics. The department also offers a B.A. in mathematics as a flexible and attractive option for students considering a double major.

### Careers and Graduate School

The actuarial profession is consistently rated as one of the most desirable. Graduates of the actuarial sciences program are experts in managing risk in multiple industries. The diverse skills students gain with this degree will prepare them to pursue work in the insurance industry, whose function relies on the risk assessment skills of actuaries. Graduates also find satisfying work within financial services (i.e. investment management, banking), health administration, energy corporations (i.e. utilities, oil, gas), environmental organizations, and the transportation sector. Additional employers of actuarial sciences graduates include, but are not limited to, institutions of higher education, public accounting firms, labor unions, and investment firms.

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## Admissions Information

**Freshman/First-Year Admission:** No requirements beyond University admission requirements. However, it is strongly recommended that students satisfy at least one of the following before entering the actuarial science program:

- Have at least a 30 ACT Math score or a SAT Math score of 680 or above
- Have scored at least a 3 on the AP Calculus AB exam
- Have scored at least a 4 on the AP Statistics exam

**Change to Program Policy: **No selective or limited admission requirements. However, it is strongly recommended that students satisfy at least one of the following before entering the actuarial science program:

- Have at least a 30 ACT Math score or a SAT Math score of 680 or above
- Have scored at least a 3 on the AP Calculus AB exam
- Have scored at least a 4 on the AP Statistics exam
- Attained Level 3 on the Math Placement Exam
- Earned at least an A- in MATH 2301 or have an A- on an equivalent transfer course
- Completed MATH 2301, 2302, 3300 with no grade less than a B

**External Transfer Admission**: No requirements beyond University admission requirements. However, it is strongly recommended that students satisfy at least one of the following before entering the actuarial science program:

- Have at least a 30 ACT Math score or a SAT Math score of 680 or above
- Have scored at least a 3 on the AP Calculus AB exam
- Have scored at least a 4 on the AP Statistics exam
- Earned at least an A- in a course equivalent to MATH 2301
- Completed a calculus sequence with no grade less than a B

## Degree Requirements

### University-wide Graduation Requirements

To complete this program, students must meet all University-wide graduation requirements.

### Liberal Arts and Sciences Distribution Requirement

View the College-Level Requirements for the College of Arts & Sciences.

### Program Requirements

For a B.S. degree with a major in actuarial science, a student must complete a total of at least 40 semester credit hours of mathematics courses.

### Actuarial Science Requirements

Complete the following courses:

- MATH 2301 - Calculus I
*Credit Hours:*4 - MATH 2302 - Calculus II
*Credit Hours:*4 - MATH 2500 - Statistics and Probability
*Credit Hours:*4 - MATH 3200 - Applied Linear Algebra
*Credit Hours:*3 -
OR

- MATH 3210 - Linear Algebra
*Credit Hours:*3 - MATH 3300 - Calculus III
*Credit Hours:*4 - MATH 3500 - Probability
*Credit Hours:*3 - MATH 3560 - Theory of Interest
*Credit Hours:*3 - MATH 4500 - Theory of Statistics
*Credit Hours:*3 - MATH 4510 - Applied Statistics
*Credit Hours:*3 - MATH 4550 - Basic Principles of Actuarial Science
*Credit Hours:*3

#### Discrete Math

Complete one of the following courses:

- CS 3000 - Introduction to Discrete Structures Credit Hours: 4.0
- MATH 3050 - Discrete Mathematics Credit Hours: 3.0

#### Computing

Complete at least one of the following courses:

- MATH 4530 - Statistical Computing Credit Hours: 3.0

### Accounting, Economics, Finance, and Management

Complete the following courses:

- ACCT 1010 - Foundations of Accounting Credit Hours: 3.0
- ECON 1030 - Principles of Microeconomics Credit Hours: 3.0
- ECON 1040 - Principles of Macroeconomics Credit Hours: 3.0
- FIN 3000 - Foundations of Financial Management Credit Hours: 3.0
- FIN 3310 - Risk and Insurance Credit Hours: 3.0