Actuarial Science

Actuarial Science is the study of identifying and evaluation of risk, specifically for insurance companies and pension plans. The curriculum offers students both the mathematical and functional business components, which are necessary for the training of an actuary. The program also prepares students 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.  

For course descriptions, prerequisites and course scheduling options, please see the Course Index.
 

Actuarial Science Program Requirements (31 units)
To complete the actuarial science area of study, students must complete the following courses:
Introduction to the Theory of Probability	STAT-UB 14
Mathematics of Investment	STAT-UB 27
Corporate Finance	FINC-UB 7 This course covers topics that appear on the actuarial examinations.  Please see the Finance Department's Website for more information.
Calculus I	MATH-UA 121 More information regarding MATH-UA courses can be found on the Math Department's Website.
Calculus II	MATH-UA 122
Calculus III	MATH-UA 123
Linear Algebra	MATH-UA 140
2 Advanced Additional Electives	See list of approved statistics courses.

 

Approved Statistics Courses (You must take at least two)
Statistical Inference and Regression Analysis	STAT-UB 15
Forecasting of Time Series Data	STAT-UB 18
Introduction to Stochastic Processes	STAT-UB 21
Life Contingencies	STAT-UB 37
Though you are only required to take two courses from this list, we encourage you to take all four of these courses to better prepare for the actuarial exams.

**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.
Students who have taken this course prior to fall 2018 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.  However, they will not be able to satisfy the Actuarial accreditation requirements of the actuarial societies if they take it on or after the Fall semester of 2018.