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Learn about the Actuarial Science Concentration 

Actuarial Science is the study of identifying and evaluating risk, specifically for insurance companies and pension plans. The curriculum offers you both the mathematical and functional business components, which are necessary for the training of an actuary. The program also prepares yous to take the first four examinations offered by the Society of Actuaries and the Casualty Actuarial Society. The courses required also satisfy the three Validation by Educational Experience (VEE) areas of Economics, Finance, and Applied Statistical Methods.

Given the additional steps required if you are considering a career as an actuary, the Actuarial Science faculty have created this helpful booklet which outlines the nuances of the VEE examinations and the necessary professional preparations that you must take to pursue the field.

Actuarial Science Concentration Requirements

To declare a concentration in Actuarial Science, you must fill out the concentration declaration form on Stern Life.

You are required to complete 31 credits of coursework that consist of:

  • Introduction to the Theory of Probability (STAT-GB 6014) previously STAT-UB 14
  • Mathematics of Investment (STAT-GB 6027 previously STAT-UB 27)
  • Corporate Finance (FINC-UB 7) 
  • Calculus I (MATH-UA 121) 
  • Calculus II (MATH-UA 122)
  • Calculus III (MATH-UA 123)
  • Linear Algebra (MATH-UA 140) 
  • 2 Advanced Electives 

Approved Actuarial Science Advanced Electives

While you are only required to take two courses from this list, you are encouraged to take as many of these courses that work within your curriculum to better prepare for the actuarial exams.

  • Applied Stochastic Processes for Financial Models (STAT-GB 6008 previously STAT-UB 8)
  • Statistical Inference and Regression Analysis (STAT-GB 6015 previously STAT-UB 15)
  • Forecasting of Time Series Data (STAT-GB 6018 previously STAT-UB 18)
  • Introduction to Stochastic Processes (STAT-UB 21)
  • Life Contingencies (STAT-UB 37) 

Additional Notes and Resources

  • Effective July 2018 and going forward, the course Regression and Multivariate Data Analysis (STAT-UB 17) can no longer be used to satisfy the Actuarial Science concentration requirements as an advanced elective. This is due to changes in the Actuarial accreditation requirements for the Society of Actuaries and the Casualty Actuarial Society. If you took the course Regression and Multivariate Data Analysis (STAT-UB 17) prior to fall 2018, you will still be permitted to count the course toward the Actuarial Science concentration and will also be able to satisfy the accreditation requirements of the Actuarial Societies.  
  • Explore the Asset Pricing track to help supplement your concentration with coursework in areas of statistics, finance, economics, and more.
  • Explore the New York University Actuarial Society website

Need help?

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