Actuarial Science, Minor

Offered in: Chicago | Schaumburg | Roosevelt Online

Our actuarial science minor allows students to prepare for one of the professional exams of the Society of Actuaries and the Casualty Actuary Society or to earn the Societies' VEE credit in the area of applied statistics. Students will be able to specialize in probability, financial mathematics, or statistical modeling. All of these options are especially helpful for a student in business or economics that wishes to strengthen their quantitative skills.  Students completing the minor will have a chance to network with actuaries that are employed in the industry and learn about professional skills and culture (through ACSC 101 ACTUARIAL CAREER). The calculus coursework will give them the mathematical framework necessary for work in financial mathematics.

As described in the Occupational Outlook Handbook of the U.S. Bureau of Labor Statistics, actuaries answer questions about future risk, make pricing decisions and formulate investment strategies. Any time a company must decide whether to pursue a course of action involving substantial financial risk, they need to consult an actuary. An actuary uses quantitative tools to analyze and plan for future financial situations, such as determining an appropriate price for a company that is about to merge with another business or designing a retirement plan for a company. In addition to insurance companies, actuaries work in government, banks, financial planning and investment companies, consulting firms, public accounting firms, large industrial corporations and labor unions.

Requirements

Students will be required to take at least six hours of 200/300 level courses at Roosevelt. Students must earn a C or higher in each of the courses in order to continue with the minor. 

Requirements
ACSC 101ACTUARIAL CAREER1
MATH 231CALCULUS I5
MATH 232CALCULUS II5
Electives (6 credits)
MATH 233CALCULUS III3
ACSC 347PROBABILITY THEORY3
ACSC 349REGRESSION & TIME SERIES3
ACSC 367FINANCIAL MATH3
ACSC 378TOPICS IN ACTUARIAL MATH (Advisor permission required)3
ACSC 380FMACTUARIAL SCIENCE SEMINAR:EXAM FM/23
ACSC 380PACTUARIAL SCIENCE SEMINAR: EXAM P/13