Earn your MS in Actuarial Science
The Master of Science in actuarial science requires 36 s.h. of graduate credit. Students must maintain a Graduate College program grade-point average of at least 3.00. 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 the material that is tested on professional examinations administered by professional organizations such as the Society of Actuaries and the Casualty Actuarial Society.
Students complete required courses and a final examination. All coursework must be taken on an A–F graded basis.
Program Requirements
Learning Outcomes
Graduates will:
• be able to bring to bear actuarial, financial, mathematical, and statistical techniques to model and analyze risks, particularly in the context of insurance and pension
• have the knowledge and analytical ability to pass the initial professional actuarial examinations given by the Society of Actuaries and Casualty Actuarial Society, and develop the skills needed for successful self-study of the advanced professional examinations
• be skillful in using and developing computer software to solve actuarial problems
• be able to clearly communicate results from an actuarial analysis to all stakeholders, and write effective reports that describe the analysis and summarize important findings; and
• possess a basic understanding of insurance and business operations.
Course Requirements
| Course # | Title | Hours |
|---|---|---|
| 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/ STAT: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 |
| 3 s.h. from these: | ||
| ACTS:4160 | Topics in Actuarial Science | arr. |
| ACTS:6160 | Topics in Actuarial Science | arr. |
| ACTS:7730 | Advanced Topics in Actuarial Science/Financial Mathematics | arr. |
| FIN:3300 | Corporate Finance | 3 |
| Additional course with advisor approval |
Master of Science Final Examination
The final examination is offered in the spring semester of the second year of study. Students who do not succeed on their first attempt may retake the exam once.
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.
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