Actuarial Science

Quality classroom experiences

Mathematics and statistics courses introduce new ways of thinking and develop discipline in carefully expressing these thoughts through problem solutions or carefully written arguments. Beginning with calculus, all mathematics courses are taught in small sections to ensure an appropriate level of personal attention. Students utilize various software tools that are available in the Math Science Computer Lab and in other computer labs across campus.

Internships and Careers

Part-time employment is available for undergraduates as tutors in the Learning Commons and the Math Emporium, a computer learning center within the Department of Mathematics and Statistics. A number of employers visit campus each Fall to recruit students for summer internships. The Actuarial Science Club helps students find internships and employment after graduation.

The main criterion for employment and promotion for actuaries is passage of examinations administered by the Society of Actuaries and the Casualty Actuarial Society. These examinations are difficult and highly mathematical. The major prepares students for at least four of the preliminary actuarial exams leading to the actuarial designation Associate of the Society of Actuaries (ASA) and Associate of the Casualty Actuarial Society (ACAS), including Exams P (Probability), FM (Financial Mathematics), LTAM (Long Term Actuarial Models), and SRM (Statistics for Risk Modeling), as well as the “Validation by Educational Experience” (VEE) requirements in Economics, Finance/Accounting, and Mathematical Statistics.

Curriculum

Three mathematics courses have been specifically designed for actuarial science students to cover the basic terminology and mathematical concepts of risk theory, the theory of interest, and life contingencies. In addition to these classes, actuarial science majors are required to study calculus, linear algebra, probability, and statistics. Courses in accounting, economics, finance, applied statistics and computer science are also required. Actuarial science courses and curriculum are reviewed and updated regularly to reflect the current requirements of the professional actuarial societies.

Admissions Information

Students interested in an actuarial science major should have four years of college preparatory mathematics in high school. While it is not necessary to take calculus in high school, the department offers an advanced placement program to receive credit for one or two calculus courses by taking the Advanced Placement Exam while in high school.