Actuarial Science

The Department of Mathematics and Computer Science at the University of Indianapolis offers a major in Actuarial Science. An actuary is a professional who uses mathematics, statistics, and economic theory to help companies understand and manage financial risk. Actuaries work primarily for insurance companies, financial firms and government agencies.

The core of the University of Indianapolis actuarial program consists of mathematics and business courses that prepare the student for a career as an actuary. The courses provide students with the content knowledge to pass several preliminary examinations (in particular, Exams P (Probability), MF (Mathematics of Finance), and M (Models for Quantifying Risk)) required for professional designation by the Society of Actuaries and the Casualty Actuarial Society.

Required courses in Mathematics:
MATH-185
Orientation to Mathematical Sciences
MATH-190
Calculus and Analytic Geometry I
MATH-191
Calculus and Analytic Geometry II
MATH-270
Calculus and Analytic Geometry III
MATH-280
Linear Algebra
MATH-450
Probability and Statistics I
MATH-451
Probability and Statistics II
MATH-356
Mathematical Theory of Interest
MATH-456
Actuarial Mathematics
MATH-466
Loss Models
Required courses in Business and Economics :
ACCT-110
Accounting I
ACCT-111
Accounting II
BADM-230
Business Law
ECON-261
Microeconomics
ECON-262
Macroeconomics
ECON-366
Finance
Electives: two courses selected from
MATH-330
Differential Equations
MATH-510
Applied Statistics
MKTG-290
Marketing
POM-486
Quantitative Methods
A Course in Computing :
CSCI-155, Introduction to Programming with C++
or
CIS-153, Visual Basic (CIS-153)
Other requirements :
PHYS-153, General Physics I
and
PHYS-155, General Physics I Lab


Dual Major in Mathematics and Actuarial Science :

Students majoring in Actuarial Science can obtain a second major in Mathematics by completing the additional following courses: MATH-300, Foundations in Abstract Mathematics; MATH-430, Abstract Algebra I; and MATH-480, Real Analysis I.

Sample Plan of Study for the Major Courses (number of credits in parentheses)

Semester I:

  • MATH-185, Orientation to the Mathematical Sciences (1)
  • MATH-190, Calculus I (4)
  • ACCT-110, Accounting I (3)

Semester II:

  • MATH-191, Calculus II (4)
  • ACCT-111, Accounting II (3)

Semester III:

  • MATH-270, Calculus III (4)
  • ECON-261, Microeconomics (3)
  • BADM-230, Business Law (3)

Semester IV:

  • MATH-280, Linear Algebra (4)
  • ECON-262, Macroeconomics (3)
  • CSCI-155, Introduction to Programming Using C++ (4) or CIS-153, Visual Basic (3)

Semester V:

  • MATH-450, Probability and Statistics I (3)
  • MATH-356, Theory of Interest (3)
  • ECON-366, Finance (4)

Semester VI:

  • MATH-451, Probability and Statistics II (3)                          
  • PHYS-153/155, Physics I/Physics I Lab (4)

Semester VII:

  • MATH-456, Actuarial Mathematics (3)
  • Actuarial Science Elective (3)

Semester VIII:

  • MATH-466, Loss Models (3)
  • Actuarial Science Elective (3)


Web Links

Society of Actuaries Home Page: http://www.soa.org

Casualty Actuarial Society Home Page: http://www.casact.org

American Academy of Actuaries Home Page: http://www.actuary.org

A site about the actuarial profession designed for students http://www.beanactuary.org

A nice website, with lots of information about jobs, careers, etc…. http://www.actuarialgrads.com