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Actuarial Science; Bachelor of Science
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What You'll Learn

  • Analysis of modern industrial society
  • Economic Theory and its relation to economic reality, including formulation of economic policy
  • Value of money, annuities, loans, bonds, cash flows, and immunization, and interest rate swaps
  • Credibility procedures and fundamental principles of pricing in short-term insurance coverage
  • Accounting principles including accounting for revenues, expenses, assets, liabilities, equity, accounting standards, and financial statements
  • Major decision areas of financial managers such as capital budgeting, financing, and working capital management
  • Risk management and legal concepts of insurance contracts, personal insurance, and commercial property as well as casualty insurance policies

What You Can Do

Job What They Do
Insurance Actuarial Analyst Design and price insurance policies, taking into account a complex set of factors. Statistics, calculus, probability, and exceptional analytical skills are must-haves for this career. 
Actuarial Consultant Provide consulting services to companies such as insurers, banks, government regulators, etc. to manage risks and evaluate plans using sound business judgement and the ability to summarize and communicate complex technical information to non-specialists. 
Business Analyst Improve business processes by serving as a liaison between business and IT with a clear directive to focus on advancing strategic business objectives.
Investment Analyst Help traders, fund managers, and stockbrokers make sound investment decisions by utilizing a deep understanding of economic trends and interpretations of financial data.  
Underwriter Determines whether or not to accept applications for insurance coverage by considering the risks involved in protecting the policyholder based on a variety of factors. Carry out risk assessments by preparing insurance policies and collecting and analyzing statistical data. 

Find more possibilities from the Society of Actuaries!

Required Courses

  • General Education Requirements
  • Statistics Core
    • Analytic Geometry-Calculus I, II, and III, Programming for Data Science/Computer Science I, Theoretical Statistics I and II, Applied Statistics/Introductory Statistics I & II, Applied Regression and ANOVA, Statistical Data Management, Statistical Consulting
  • Actuarial Science Requirements
    • Introduction to Economic Analysis or Principles of Microeconomic/Macroeconomics, Introduction to Actuarial Science, Actuarial Models, Time Series Analysis, Accounting Principles I, Principles of Finance, Investments or Risk Management: Property and Casualty and Risk Management: Life and Health Insurance
  • Statistics Electives

General Advising Tips

  • For all incoming students: Plan on taking STAT:471 - Intro to Actuarial Science in spring of your first year. You will need Calculus I and don't need to have STAT:461 - Applied Statistics completed.
  • STAT:472 - Actuarial Models is offered in Spring of odd years (next offered in Spring 2023). A good understanding on materials from STAT:451 - Theoretical Statistics I is vital for this course. If you need STAT:472 - Actuarial Models in a semester that it is not offered, contact Dr. Nao Mimoto.
  • STAT: 477  - Time Series is offered in Spring of even years (next offered in Spring 2024).
  • Internships are an incredibly valuable asset to you education. Begin looking in September-October for summer internships.