College of Liberal Arts & Sciences
MS in Actuarial Science
Updated 5/9/2023
The Master of Science program in actuarial science requires 36 s.h. of graduate credit. The program prepares students for actuarial careers by emphasizing the theory that underlies risk processes and the application of this theory to practical problems of insurance pricing and management. It also helps them learn material that is included in professional examinations administered by professional organizations such as the Society of Actuaries and the Casualty Actuarial Society.
Students complete required courses and a MS final examination.
The MS in actuarial science requires the following course work.
| Code | Title | Hours |
|---|---|---|
| One of these sequences: | ||
| STAT:4100-STAT:4101 | Mathematical Statistics I-II | 6 |
| STAT:5100-STAT:5101 | Statistical Inference I-II (for well prepared students) | 6 |
| All of these: | ||
| ACTS:3080 | Mathematics of Finance I | 3 |
| ACTS:4130 | Quantitative Methods for Actuaries | 3 |
| ACTS:4150 | Fundamentals of Short-term Actuarial Mathematics | 3 |
| ACTS:4180 | Life Contingencies I | 3 |
| ACTS:4280 | Life Contingencies II | 3 |
| ACTS:6200 / DATA:6200 | Predictive Analytics | 3 |
| STAT:4560 | Statistics for Risk Modeling I | 3 |
| STAT:4561 | Statistics for Risk Modeling II | 3 |
| STAT:6300 | Probability and Stochastic Processes I | 3 |
| A course approved by the advisor | 3 | |
Master of Science Final Examination
The MS final examination is offered in the Spring semester of the second year of study. Students who do not succeed the first time they take the exam may repeat it once.
Plan of Study
The applicant for a master's degree must file a Plan of Study, approved by the advisor and the DEO, with the Graduate College within the session in which the comprehensive exam is taken, and by a date to be established by the Graduate College dean. The Plan shall meet the requirements for the degree approved by the graduate faculty. The plan of study is completed by the faculty and is submitted for you. There is nothing you need to do, except review it. It is usually completed at the beginning of your 4th semester and a copy is placed in your mail box in 241 Schaeffer Hall.
If a student makes a change in his or her Plan of Study (i.e., adds or deletes a course), he or she must file an Application for Change in Plan of Study.
Application for Degree
The student must file an application for an anticipated degree with the Registrar not later than ten weeks after the start of the semester or one week after the start of the summer session in which the degree will be conferred. You may apply for your degree on ISIS. Failure to file the application for Degree by the deadline may result in postponement of graduation to a subsequent session.
Students must be registered for the semester in which they graduate. Students who have completed their coursework may register for 000:001 Masters Final Registration for 0 s.h. with their advisor's approval.
The PhD Degree
We do not have a formal Actuarial Science PhD program at The University of Iowa. Students who desire to work on a PhD in Statistics with concentration in actuarial science/financial mathematics are cautioned that this is a very selective and highly mathematical program.