Actuarial Science Requirements


Actuarial Science applies mathematics to insurance problems. Practicing actuaries calculate insurance premiums, policy and loss reserves (liabilities) and estimate costs of future losses.

Actuarial Science majors are introduced to professional designation tracks, including The Society of Actuaries, American Academy of Actuaries, Casualty Actuarial Society, Conference of Consulting Actuaries and American Society of Pension Actuaries. Students typically take at least two professional actuarial examinations prior to graduation.


MajorRequired Courses (23 credits)


MATH 4065 – Theory of Interest (3 cr)
MATH 5067 – Actuarial Math I (4 cr)
MATH 5068 – Actuarial Math II (4 cr)
STAT 5101 & 5102 – Theory of Statistics I & II (4 cr each) Or
MATH 5651 & 5652 – Basic Theory of Probability & Statistics and Introduction to Stochastic Processes (4 cr each)


(STAT 4101 & 4102 – Theory of Statistics I & II is also acceptable if the student has a probability course as well. We recommend one of the other sequences instead.)


Required prerequisite courses include differential and integral calculus, MATH 1271, 1272, 2243, & 2263.


Plus four additional credits chosen from:

4100 INS  Corporate Risk Management (2 cr)
4101 INS  Employee Benefits (2 cr)
4200 INS  Insurance Theory and Practice (2 cr)
4201 INS  Personal Financial Management (2 cr)
4202 INS  Personal Financial Planning 2: Tax and Estate Planning Techniques (2 cr)


Students are encouraged to take electives from the following list:

3101 ECON  Intermediate Microeconomics (4 cr)
4751 ECON  Financial Economics (3 cr)
4121 FINA  Financial Markets and Interest Rates (2 cr)
4321 FINA  Portfolio Management and Performance Evaluation (2 cr)
4541 FINA  Futures, Options, and Other Derivative Securities (4 cr)
4641 FINA  International Finance and Risk Managment (4 cr)


MinorRequired Courses(15 credits)


MATH 4065 - Theory of Interest (3 cr)
MATH 5067 - Actuarial Math I (4 cr)
MATH 5068 - Actuarial Maht II (4 cr)


Plus four additional credits from the following:

4100 INS  Corporate Risk Management (2 cr)
4101 INS  Employee Benefits (2 cr)
4200 INS  Insurance Theory and Practice (2 cr)
4201 INS  Personal Financial Management (2 cr)
4202 INS  Personal Financial Planning 2: Tax and Estate Planning Techniques (2 cr)


In addition to completing those courses listed above, you must also complete the degree requirements for a Bachelor of Science in Business from the Carlson School of Management.