College of Liberal Arts & Sciences
The BS Degree in Actuarial Science
The Bachelor of Science with a major in actuarial science requires a minimum of 120 s.h., including 51 s.h. of work for the major. Students must maintain a g.p.a. 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
The B.S. with a major in actuarial science requires the following course work. Permission to substitute course work taken at another institution for required courses at the University of Iowa is decided case by case; students should contact the department.
• CS:1210 Computer Science I: Fundamentals (4 s.h.)
• MATH:1850 Calculus I (4 s.h.)
• MATH:1860 Calculus II (4 s.h.)
• MATH:2700 Introduction to Linear Algebra (4 s.h.)
• MATH:2850 Calculus III (4 s.h.)
• MATH:3770 Fundamental Properties of Spaces and Functions I (4 s.h.)
• STAT:3100 / IGPI:3100 Introduction to Mathematical Statistics I (3 s.h.)
• STAT:3101 / IGPI:3101 Introduction to Mathematical Statistics II (3 s.h.)
• STAT:4100 / IGPI:4101 Mathematical Statistics I (3 s.h.)
• STAT:4101 / IGPI:4101 Mathematical Statistics II (3 s.h.)
• ACTS:3080 Mathematics of Finance I (3 s.h.)
• ACTS:4130 Quantitative Methods for Actuaries (3 s.h.)
• ACTS:4150 Fundamentals of Short-term Actuarial Mathematics (3 s.h.)
• ACTS:4180 Life Contingencies I (3 s.h.)
• ACTS:4280 Life Contingencies II (3 s.h.)
In exceptional cases, the advisor may grant permission to waive STAT:3100/IGPI:3100 Introduction to Mathematical Statistics I and/or STAT:3101/IGPI:3101 Introduction to Mathematical Statistics II.
Students may choose to complete STAT:4560 Statistics for Risk Modeling I and STAT:4561 Statistics for Risk Modeling II (both courses) instead of ACTS:4280 Life Contingencies II, except honors students, who must complete all three courses.
Students are strongly advised to take honors sections of Mathematics courses, if they are available. Also, they should consider taking MATH:3600 Introduction to Ordinary Differential Equations (useful for life contingencies and mathematical finance/financial engineering) and STAT:6300 Probability and Stochastic Processes I. For satisfying the General Education Program requirements in Natural Sciences, calculus-based courses such as PHYS:1611, 1612 are recommended.