Actuarial Science

Overview

The Actuarial Science major combines math and finance in order to prepare you to become an actuary. Actuaries are consistently ranked in the top five careers in the nation based on work environment, employment outlook, job security, growth opportunity and salary. Actuaries compute and help manage risk, and they typically work for organizations that manage a lot of risk. The main employers of actuaries are insurance companies, private corporations and the government. Many actuaries work as consultants.

Becoming an actuary requires passing several exams over a six to 10 year period. You should be prepared to take the first test after taking Probability Theory (MAT 4200).

Course Requirements for Actuarial Science

Courses

Examples of courses in this major:

MAT 4200 Probability Theory

In this course, we study the axioms and theorems of probability theory. We study probability distributions of discrete and continuous random variables and many of their applications. Throughout this course, we will use a significant amount of calculus to develop the theory of probability.

MAT 4320 Mathematical Statistics

This course is the study of multivariable statistics on real data sets. Correlation, hypothesis testing and ANOVA are highlights of this class. Significant use of calculus will be utilized. We use minitab extensively.

BUS 2230 Economics

The role of Christians in the marketplace is discussed with consideration of economic reasoning and methodology through examination of fundamental concepts in micro- and macro-economics and through extension and applications of economic theory. Examination of the general functioning of a price system using fundamentals of supply and demand is evaluated. Exploration of the variety of market forms, theory of factor incomes, and the effects of government intervention to promote efficiency and equity occurs.

FIN 3240 Corporate Finance

This foundational course explores corporate financial topics such as financial statement analysis, net present value, corporate valuation, the stock market, the bond market, financial governance, and the role of the CFO in managing a business. This course provides a practical approach to the discipline.

FIN 4610 Advanced Financial Math

This course is designed to provide a practical application of corporate finance and mathematics skills to a variety of analyses commonly performed by CFOs, investment bankers, actuaries and corporate financial analysts. Students will gather source data and build and apply models typically used in practice. This course also investigates the use of financial instruments and strategies to achieve a sustainable competitive advantage and create value. The course explores the relationships amongst corporate strategy, corporate finance and financial innovation.

Faculty

Careers