Actuarial Science Major
The Actuarial Science major seeks to give students a strong analytical foundation with which to solve the problems encountered in the management of risk. The major provides students with the flexibility to choose between careers traditionally associated with the Society of Actuaries (SOA): health, life and annuities, corporate finance and enterprise risk management, quantitative finance and investment, retirement benefits and general insurance, or with the Casualty Actuarial Society (CAS): property and casualty, reinsurance, finance, risk management, and enterprise risk management.
The Actuarial Science major is recognized by the SOA as a UCAP-Introductory Curriculum. The major includes course coverage for the two preliminary exams: Exam P/1 (Probability), and Exam FM/2 (Financial Mathematics), and the following Validation by Educational Experience (VEE) topics: Economics, Accounting and Finance. In addition, SOA-bound students may use elective courses to obtain VEE credit in Mathematical Statistics. A grade of B- or better is required to receive VEE credit from the SOA or the CAS.
Actuarial credentials are granted solely by the SOA or the CAS once a candidate has passed the required professional exams and completed the courses and other requirements specified by these societies. For more information on actuarial credentials, please visit the Society of Actuaries (www.soa.org) or the Casualty Actuarial Society (www.casact.org/).
For additional information regarding professional certification requirements please visit https://www.sju.edu/disclosures/actuarial.
Goal 1: Students will master the quantitative and analytical skills required to obtain an entry-level position in the actuarial science profession.
Outcome 1.1: Students will be able to apply and use the fundamental tools of calculus to solve applied and theoretical mathematical problems.
Outcome 1.2: Students will be able to demonstrate mastery of the computational skills used in probability theory as well as the use of discrete and continuous probability distributions to model various applications in the natural sciences, finance, insurance and the social sciences.
Outcome 1.3: Students will be able to demonstrate understanding of concepts of financial mathematics and how these concepts are applied in the calculation of present and accumulated values of cash flows.
Goal 2: Students will have the knowledge to qualify for professional credentials awarded by the Society of Actuaries and the Casualty Actuary Society and gain background relevant to the actuarial profession.
Outcome 2.1: Students will be able to demonstrate their knowledge of macro and micro economics, accounting, financial methods and statistics and obtain Validation by Educational Experience (VEE) credit from professional actuarial societies. Students will also learn material relevant to actuarial science not covered by VEE.
Outcome 2.2: Students will know the content covered in the first two professional actuarial examinations.
Goal 3: Students will develop strong communication and critical thinking skills.
Outcome 3.1: Students will be able to prepare written reports and deliver oral presentations that integrate the best practices of technical writing, business and statistical terminology and critical analysis.
Goal 4: Students will attain a high level of proficiency in research methodology and computer technology.
Outcome 4.1: Students will be able to conduct quantitative research, i.e. select appropriate statistical methodology, use computer software, and make inferences and predictions using data from applications in finance, economics and other disciplines.
Outcome 4.2: Students will be able to demonstrate proficiency in the use of computer software such as EXCEL, statistical software and databases. Students will also be able to do basic computer programming.
Cornerstone Core Curriculum Requirements
Consist of 14 core and 2 overlay requirements. See below for additional detailed information on each of these requirements.
| Code | Title | Hours |
|---|---|---|
| First Year Course Requirements | ||
| ENG 101 | Craft of Language | 3 |
| World History Course Area | 3 | |
| Philosophy Requirements | ||
Either Level One or Level Two (but not both) -- must be Ethics designated. If approved, philosophy courses may count for a student's Writing Intensive overlay. Students may not double-count the same course as Philosophy Level Two and as a Mission Overlay course. | ||
| Philosophy Level One | 3 | |
| Philosophy Level Two | 3 | |
| Theology & Religious Studies Requirements | ||
If approved, Theology & Religious Studies courses may count for a student's Writing Intensive overlay. Students may not double-count the same course as CCC Theology and as a Mission Overlay course. | ||
| Theology | 3 | |
| Religious Studies | 3 | |
| Diversity & INT 151 Requirements | ||
A student's Diversity course may not count for any other CCC course area requirement or as their Mission Overlay course. If approved, Diversity courses may count for a student's Writing Intensive Overlay requirement. INT 151 may not count for any other CCC requirements. This course must be taken in the first two years | ||
| Diversity | 3 | |
| INT 151 | Inequality in American Society | 1 |
| Math & Natural Science Requirements | ||
If approved, Math & Natural Science Requirements may count toward overlay requirements. | ||
| Mathematics | 3-4 | |
| Natural Science | 4 | |
| Social Science Requirement | 3 | |
If approved, such Social Science Requirement may count toward a student's overlay requirements. | ||
| Non-Native Language Requirement | 3-4 | |
A single Non-Native Language course may not count as an overlay course but a second language course fulfills a student's Mission Overlay requirement. | ||
| Literature Requirement | 3 | |
If approved, Literature courses may count toward a student's overlay requirements. | ||
| Fine and Performing Arts, Creativity, and Design Requirement | 3 | |
If approved, Fine and Performing Arts, Creativity, and Design courses may count toward a student's overlay requirements. | ||
| Overlay Requirements | ||
| Writing-Intensive | 3 | |
If approved, Writing-Intensive courses may double count as major courses, minor courses, electives, or as any CCC course area requirement except for the first-year courses (World History and Rhetoric and Composition). | ||
| Mission-Overlay | 3 | |
Mission Overlay courses may double count as major courses, minor courses, elective courses, or any of the following CCC course areas: Fine and Performing Arts, Creativity, and Design, Literature, Mathematics, Natural Science, or Social Science. | ||
| Total Hours | 47-49 | |
Business Foundation
| Code | Title | Hours |
|---|---|---|
| ACC 101 | Concepts of Financial Acct | 3 |
| ACC 102 | Managerial Accounting | 3 |
| DSS 100 | Excel Competency | 1 |
| DSS 200 | AI in Business | 3 |
| DSS 210 | Business Statistics | 3 |
| DSS 220 | Business Analytics | 3 |
| ECN 102 | Introductory Economics Macro | 3 |
| FIN 200 | Intro to Finance 1 | 3 |
| or FIN 225 | Fund of Quantitative Finance | |
| MGT 110 | Essent'ls of Organzational Beh | 3 |
| or MGT 120 | Essentials of Management | |
| MGT 360 | Legal Environment of Business | 3 |
| MKT 201 | Principles of Marketing | 3 |
| BUS 495 | Business Strategy | 3 |
| Total Hours | 34 | |
- 1
ECN 101 is a prerequisite for FIN 200 and may count towards the Cornerstone Core Curriculum Social Science requirement.
Note: Students majoring in Actuarial Science must take FIN 225 rather than FIN 200 within the Business Foundation. A grade of B- or better in FIN 225 is required to receive VEE credit from the SOA or CAS.
Major Requirements
| Code | Title | Hours |
|---|---|---|
| RMI 200 | Introduction to Insurance | 3 |
| FIN 201 | Markets and Institutions | 3 |
| ASC 300 | Intro to Actuarial Probability | 3 |
| ASC 301 | Actuarial Probability | 3 |
| Actuarial Science Elective (Flexible): select one from any 300- or 400-level ASC, FIN, RMI, or MAT/DSC course. | 3 | |
| 400-level courses have one or more 300-level courses as prerequisites. Certain 300-level courses have 200-level courses as prerequisites. | ||
| Advanced Actuarial Science Elective (Flexible): selective one from any 400-level ASC, FIN, or RMI course. | 3 | |
| A maximum of two (2) FIN or RMI courses used to satisfy the Actuarial Science Major may be double-counted towards the FIN Major or the RMI Major. | ||
| MAT 161 | Calculus I (or higher. Will count for CCC: Mathematics) | 4 |
| Total Hours | 22 | |
Free Electives
Graduation requires 120 credits. Any credits necessary to reach that number outside of the CCC and major requirements are considered free electives.
| First Year | ||
|---|---|---|
| Fall | Hours | |
| DSS 100 | Excel Competency | 1 |
| ACC 101 | Concepts of Financial Acct | 3 |
| MGT 110 or MGT 120 |
Essent'ls of Organzational Beh (or Non-Native Language) or Essentials of Management |
3 |
| MAT 161 | Calculus I | 4 |
| ECN 101 | Introductory Economics Micro | 3 |
| ENG 101 | Craft of Language (or World History) | 3 |
| Hours | 17 | |
| Spring | ||
| ACC 102 | Managerial Accounting | 3 |
| MAT 162 | Calculus II | 4 |
| ENG 101 | Craft of Language (or World History) | 3 |
| FIN 225 | Fund of Quantitative Finance | 3 |
| INT 151 | Inequality in American Society | 1 |
| MGT 110 or MGT 120 |
Essent'ls of Organzational Beh (or Non-Native Language) or Essentials of Management |
3 |
| Hours | 17 | |
| Sophomore | ||
| Fall | ||
| DSS 200 | AI in Business | 3 |
| ASC 300 | Intro to Actuarial Probability | 3 |
| RMI 200 | Introduction to Insurance | 3 |
| Philosophy Level One | 3 | |
| ECN 102 | Introductory Economics Macro | 3 |
| Hours | 15 | |
| Spring | ||
| ASC 301 | Actuarial Probability | 3 |
| FIN 201 | Markets and Institutions | 3 |
| MKT 201 | Principles of Marketing | 3 |
| Philosophy Level Two | 3 | |
| Free Elective | 3 | |
| Hours | 15 | |
| Junior | ||
| Fall | ||
| DSS 210 | Business Statistics | 3 |
| MGT 360 | Legal Environment of Business | 3 |
| Major Elective | 3 | |
| Religious Studies | 3 | |
| Free Elective | 3 | |
| Hours | 15 | |
| Spring | ||
| DSS 220 | Business Analytics | 3 |
| Diversity | 3 | |
| CSC 115 |
Intro to Computer Science or Computer Science I or Open Source Program Lang |
3 |
| Theology | 3 | |
| Free Elective | 3 | |
| Hours | 15 | |
| Senior | ||
| Fall | ||
| Major Elective | 3 | |
| BUS 495 | Business Strategy | 3 |
| Fine & Performing Arts, Design & Creativity | 3 | |
| Free Electives | 6 | |
| Hours | 15 | |
| Spring | ||
| Literature | 3 | |
| Natural Science | 4 | |
| Free Electives | 6 | |
| Hours | 13 | |
| Total Hours | 122 | |