Actuarial Science

Table of Contents

Overview of Actuarial Science
Major Field and Related Area Requirements for Actuarial Science 2003 through 2006
        Mathematics Courses
        Insurance Courses
        Actuarial Courses
        Statistics Courses
        Finance Courses
Semester by Semester Course Planning for Actuarial Science 2003 through 2006


Overview of Actuarial Science

An actuary is a business professional who uses mathematical skills to define, analyze, and solve business and social problems. They generally are employed in life, health, and casualty insurance companies, consulting firms, and government. The actuarial profession attracts students who like intellectual challenge and are motivated by the prospects of being a highly respected professional.

The Actuarial Science major prepares students for an actuarial career. The courses stress the application of mathematical and statistical concepts to the measurement of life and other contingencies, while at the same time giving the student a broad understanding of the business environment.

Major Field and Related Area Requirements for Actuarial Science 2003 through 2006

  1. Mathematics Courses

    Take all of the following Mathematics courses (10 credits)

    MATH 141 (4) Calculus with Analytic Geometry II
    MATH 220 (2) Matrices
    MATH 230 (4) Calculus and Vector Analysis
  2. Insurance Courses

    Take all of the following Insurance courses (12 credits) - A grade of "C" or higher is required in INS 310 and INS 401W.

    INS 301 (3) Risk and Insurance
    INS 310W (3) Property and Liability Insurance Market [Prerequisite: INS 301]
    INS 320 (3) Life Insurance [Prerequisite: INS 301]
    INS 401 (3) Fundamentals of Private Pensions
  3. Actuarial Courses

    Take all of the following Actuary courses (9 credits) - A grade of "C" or higher is required in INS 410, INS 411 and INS 412.

    INS 410 (3) Compound Interests and Annuities- Certain [Prerequisite: MATH 141]
    INS 411 (3) Life Contingencies I [Prerequisite: INS 410, STAT 414]
    INS 412 (3) Life Contingencies II [Prerequisite: INS 411]
  4. Statistics Courses

    Take the following Statistics courses (6 credits)

    STAT (MATH) 414 (3) Introduction to Probability Theory
    STAT (MATH) 415 (3) Introduction to Mathematical Statistics
  5. Finance Courses

    Select one of the following Finance courses (3 credits)

    FIN 305 (3) Financial Management of the Business Enterprise
    FIN 408 (3) Financial Markets and Institutions

Semester by Semester Course Planning for Actuarial Science 2003 through 2006

* Please note special scheduling notes for 2006-2007 academic year in red below
1st Semester

First-Year Seminar (1-2)
ENGL 015 or 030 (3)
MATH 110 or 140 (4)
ECON 002 (3)
Foreign Language (4)

2nd Semester

CMPSC 203 (GQ) (4)
ECON 004 (4)
Foreign Language or Electives (4)
MATH 141 (4)
Natural Science (GN) (3)

3rd Semester

ACCTG 211(4)
[B A 241 & B A 242] or B A 243 (4)
Foreign Language or Electives (4)
General Education (GA/GH/GS) (3)
MATH 220 (2)

4th Semester

MS&IS 200 or STAT 200 (4)
M I S 204 or IST 110 (2-4)
ENGL 202D (3)
CAS 100 (3)
MATH 230 (4)

5th Semester

B A 301 (2)
B A 304 (2)
INS 301 (3)
INS 410 (3)
STAT (MATH) 414 (3)
General Education (GA/GH/GS) (3)
Natural Science (GN) (3)

6th Semester

B A 302 (2)
B A 303 (2)
INS 411 (3)
STAT (MATH) 415 (3)
Natural Science (GN) (3)
Health/ESACT (GHA) (3)

7th Semester*

INS 320 (3)
INS 411 (3) Fall 2006
B A 411 (3)
General Education (GA/GH/GS) (3)
General Education (GA/GH/GS) (3)

8th Semester*

INS 401 (3)
INS 310W (3)
INS 412 (3) Spring 2007
FIN 305 or FIN 408 (3)
Global Awareness (GA/GH/GS) (3)
General Education (GA/GH/GS) (3)

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Copyright © 1997-2006 Victor W. Brunsden, vwb2@psu.edu
Maintained by Victor W. Brunsden, vwb2@psu.edu