Actuarial Science Major

Program Overview

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 ( or the Casualty Actuarial Society ( 

For additional information regarding professional certification requirements please visit

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.

The traditional undergraduate programs includes a minimum of 120 credits distributed across three components: A General Education component divided into Signature Courses, Variable Courses, and an Integrative Learning requirement; a Major and Divisional component; and Free Electives. In addition to course requirements as specified in each area, students must complete one certified course in each of the following overlay areas1:

  1. Diversity, Globalization or Non-western Area Studies,
  2. Ethics Intensive
  3. Writing Intensive, and
  4. Diversity

Overlay requirements are part of the 120 credit requirements

General Education Signature Courses

See this page about Signature courses

General Education Variable Courses

See this page about Variable courses. Six to Nine courses

MAT 161Calculus I4
Natural Science
One semester of any lab-based natural science course
Social Science
ECN 101Introductory Economics Micro3

General Education Overlays

See this page about Overlays.

General Education Integrative Learning Component

See this page about Integrative Learning Component. Three courses:

MAT 162Calculus II4
ECN 102Introductory Economics Macro3
Select one of the following Computer Science courses:3-4
Intro to Computer Science
Computer Science I
Total Hours10-11

Business Foundation 

Ten courses, including:

ACC 101Concepts of Financial Acct3
ACC 102Managerial Accounting3
DSS 100Excel Competency1
DSS 200Intro to Information Systems3
DSS 210Business Statistics3
DSS 220Business Analytics3
FIN 200Intro to Finance3
or FIN 225 Fund of Quantitative Finance
MGT 110Essent'ls of Organzational Beh3
or MGT 120 Essentials of Management
MGT 360Legal Environment of Business3
MKT 201Principles of Marketing3
BUS 495Business Strategy 13
or ACC 423 Accounting Control Systems
Total Hours31

Accounting Majors can choose between ACC 423 and BUS BUS 495


A grade of B- or better in FIN 225 is required to receive VEE credit from the SOA or CAS.

Major Requirements: 

RMI 200Introduction to Insurance3
FIN 201Markets and Institutions3
ASC 300Intro to Actuarial Probability3
ASC 301Actuarial Probability3
Actuarial Science Elective (Flexible): select one from any 300- or 400-level ASC, FIN, RMI, or MAT/DSC course. 400-level courses have one or more 300-level courses as prerequisites. Certain 300-level courses have 200-level courses as prerequisites.3
Advanced Actuarial Science Elective (Flexible): selective one from any 400-level ASC, FIN, or RMI course. 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.3
Total Hours18