Requirements

Spring on campus at the University of IowaThe 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:4180 Life Contingencies I (3 s.h.)
•    ACTS:4280  Life Contingencies II (3 s.h.)
•    ACTS:4380 Mathematics of Finance 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 ACTS:6480 Loss Distributions and ACTS:6580 Credibility and Survival Analysis (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.