Presidential Advisory Committee of
Proposal
18-05
(Voting Units: Academic Senators)
CERTIFICATE IN ACTUARIAL SCIENCE
DEPARTMENT OF MATHEMATICAL SCIENCE
1.
Description
The Department of Mathematical Sciences proposes an
undergraduate certificate program in Actuarial Science. Students who complete this program, and
an undergraduate degree in business, the sciences, or engineering, will be
better prepared to pursue employment as an Actuary. Actuaries manage insurance lines,
benefit plans, and other situations where expenses are probabilistic. These jobs are extremely desirable,
consistently landing on top 5 lists, because of excellent pay, working
conditions, and prospects for advancement.
2.
Rationale
These courses are already offered as part of a
fast-growing concentration, and offering the certificate program would draw more
students into these courses. The
certificate would be attractive to mathematically-inclined business students and
students in any technical or scientific program.
Certificate in Actuarial
Science
The Department of Mathematical Sciences offers a
certificate program in Actuarial Science.
Students who complete this certificate can pursue employment as an
actuary. Typical jobs include
setting insurance rates and managing benefits programs. In addition to the required courses, we
also recommend that students take courses in Linear Algebra, Statistics, and
Numerical Methods.
Requirements (24 credits)
MA1160 (4 credits)
MA2160 or MA2150 (4 credits)
MA3160 or MA3150 (4 credits)
MA3810 Introduction to Actuarial Science (3 credits)
MA3720 Probability (3 credits)
MA4810 Life Contingencies (3 credits)
MA4820 Loss Distribution and Credibility Theory (3 credits)
One of the above courses can be
substituted by successfully passing the first professional Actuarial
Exam.
Adopted by the PAC (formerly
Senate): 9 February 2005
Approved by
President Mroz: 21 February 2005