Minor in Actuarial Science

Why minor in actuarial science?

Actuarial Science uses mathematical methods to define, analyze, and solve business and social problems. Actuaries are needed in any field that must weigh the financial consequences of risk, and are often employed by insurance companies, banks, consulting firms, investment firms, hospitals, and governments.

The minor in Actuarial Science will help prepare students to pass several of the preliminary actuarial exams: SOA Exam P / CAS Exam 1 – Probability, SOA Exam FM / CAS Exam 2 – Financial Mathematics, and SOA Exam IFM / CAS Exam 3F – Financial Economics.

This program is offered in collaboration with School of STEM.

Prerequisites (20 credits)

Students must earn an average grade of 2.7 in the following four prerequisite courses, with no grade below a 2.5 in any individual course.

Prerequisites (20 credits)
Credits Course
5 STMATH 124 Calculus I
5 STMATH 125 Calculus II
5 STMATH 126 Calculus III
5 B BUS 220/BIS 200 Introduction to Microeconomics

Core Requirement (25 credits)

Core Requirement (25 credits)
Credits Course
5 STMATH 324 Multivariable Calculus
Prerequisite: STMATH 126
5 STMATH 330 Financial Mathematics
Prerequisites: STMATH 125 and B BUS 220/BIS 200
5 STMATH 392 Probability
Prerequisite: STMATH 324
5 B BECN 302 Intermediate Microeconomics
Prerequisites: B BUS 220/BIS 200, STMATH 324
5 B BECN 460 Financial Economics
Prerequisites: B BECN 302, STMATH 330, STMATH 392

Students must earn an average grade of 2.7 in the five core requirement classes. At least three of the core requirement classes must not be already counted towards a student’s major; specifically, only one of STMATH 330 and STMATH 392 can count as an elective towards the Mathematics major for students also interested in obtaining a minor in Actuarial Science.

Students who have completed the minor prerequisites can complete the minor in one year as follows:

  • Autumn Quarter: STMATH 324 and STMATH 330
  • Winter Quarter: STMATH 392 and B BECN 302
  • Spring Quarter: B BECN 460