MSCS Undergraduate Studies

 

Preparation for a career as an Actuary

 

Actuarial Science involves the application of probability, statistics, and mathematics to insurance, pensions, and risk management and evaluation. The professional path to becoming an actuary involves passing a series of exams administered by the Society of Actuaries (www.soa.org) and the Casualty Actuarial Society (www.casact.org). The two societies work together for several of the early examinations and maintain a useful informational site www.BeAnActuary.com. Preparing to become an actuary does not require a major in actuarial science, but does require adequate preparation for beginning the examination process.

 

The Department has prepared this Program of Study to prepare a student for the first exams and receive VEE (Validation by Educational Experience) for three areas no longer required as tests (Applied Statistical Methods, Corporate Finance, and Economics). A student may complete these requirements by way of a Mathematics or Computational Mathematics major with a Business minor, an Interdisciplinary major in Applied Mathematical Economics, an Economics major, or any Business major.

 

Any student who has interest in the Actuarial Science Program is urged to consult the Actuarial Science Coordinator, Dr. Stephen Merrill, for information on course offerings and details of the Program.

 

 

Recommended Undergraduate Program of Study (2009 and after course #’s in parens)

 

 MATH080 (1450), MATH081 (1451) (Calculus I and II)

 

 MATH160 (4700) (Probability)  -- Test P

 

[{MATH164 (4720) (Statistical Methods) or MATH163 (4780) (Regression Analysis)}

                       & MATH162 (4760) (Time Series Analysis)]   -- VEE Applied Stat. Meth.

or ECON175 (4060) (Introduction to Econometrics)

 

 MATH198 (4931) (Intro to Actuarial Science – a “Topics” course) -- Test FM

 

 ACCO030 (2030), ACCO031 (2031) ( Financial and Managerial Accounting)

 

 ECON043 (2003), ECON044 (2004) (Micro and Macro Economics)  -- VEE Economics

 

 FINA180 (3001) (Financial Management) – VEE Corporate Finance

 

In addition to the above course work, study groups to prepare for the exams are organized every semester if enough students are preparing for the same test.

 

Internships are strongly recommended. In this area consider

 

Northwestern Mutual

 

Assurant Health