Students 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.

The Bachelor of Science with a major in actuarial science requires a minimum of 120 s.h., including 52 s.h. of work for the major. Students must maintain a grade-point average of at least 2.00 in all courses for the major and in all UI courses for the major. They also must complete the College of Liberal Arts and Sciences GE CLAS Core. 

The program prepares students for careers as actuaries. 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 take a variety of actuarial science courses. They prepare for business aspects of the actuarial profession by studying accounting, law, finance, insurance, and economics. They also complete courses that enhance important communication skills, such as writing and speaking, as part of their GE CLAS Core requirements.

Courses required for the major

Students majoring in actuarial science have the opportunity to graduate with honors in the major. They must maintain a UI cumulative grade-point average (GPA) of at least 3.33 and a GPA of at least 3.40 in all departmental courses. They also must complete the following five courses in addition to all courses required for the major.

Courses required for honors in the major

University of Iowa Honors Program

In addition to honors in the major, students have opportunities for honors study and activities through membership in the University of Iowa Honors Program. Visit Honors at Iowa to learn about the university's honors program.

Membership in the UI Honors Program is not required to earn honors in the actuarial science major.

Most actuaries are employed by insurance companies or employee benefits consulting firms. They have responsibilities related to all phases of product development and maintenance for their companies. Individual employers who need guidance in establishing employee insurance and retirement programs also hire actuarial science graduates. A growing number of actuaries work in asset/liability management, some in investment firms and others in insurance companies.

Actuaries have always been in high demand and earn good salaries. Most University of Iowa graduates find work as actuaries, but some become financial managers or teachers. They take positions in locations all across the country, often in large metropolitan areas.

The Pomerantz Career Center offers multiple resources to help students find internships and jobs.