The BS Degree in Actuarial Science
The Bachelor of Science in Actuarial Science requires a minimum of 120 s.h., including 59 s.h. of work for the major. The program prepares students for careers as actuaries.
The Bachelor of Science with a major in actuarial science requires a minimum of 120 s.h., including 59 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 CLASS 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 CLASS 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 institition must be made by the department.
• CS:1210 (22C:016) Computer Science I: Fundamentals (4 s.h.)
• ECON:1100 (06E:001) Principles of Microeconomics (4 s.h.)
• ECON:1200 (06E:002) Principles of Macroeconomics (4 s.h.)
• MATH:1850 (22M:025) Calculus I (4 s.h.)
• MATH:1860 (22M:026) Calculus II (4 s.h.)
• MATH:2700 (22M:027) Introduction to Linear Algebra (4 s.h.)
• MATH:2850 (22M:028) Calculus III (4 s.h.)
• MATH:3770 (22M:055) Fundamental Properties of Spaces and Functions I (4 s.h.)
• STAT:3100 (22S:130) Introduction to Mathematical Statistics I (3 s.h.)
• STAT:3101 (22S:131) Introduction to Mathematical Statistics II (3 s.h.)
• STAT:4100 (22S:153) Mathematical Statistics I (3 s.h.)
• STAT:4101 (22S:154) Mathematical Statistics II (3 s.h.)
• ACTS:3080 (22S:180) Mathematics of Finance I (3 s.h.)
• ACTS:4130 (22S:174) Quantitative Methods for Actuaries (3 s.h.)
• ACTS:4180 (22S:181) Life Contingencies I (3 s.h.)
• ACTS:4280 (22S:182) Life Contingencies II (3 s.h.)
• ACTS:4380 (22S:183) Mathematics of Finance II (3 s.h.)
ACTS:4280 (3 s.h.) may be substituted with both ACTS:6480 (22S:177) Loss Distributions (3 s.h.) and ACTS:6580 (22S:176) Credibility and Survival Analysis (3 s.h.).
In exceptional cases, the advisor may waive STAT:3100 and/or STAT:3101. STAT:3120 is not sufficiently rigorous to be a replacement for STAT:3100 and 3101.
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.