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Business, Smeal College

Actuarial Science (ACTSC) - Archive

ARCHIVED FILE
Begin Date: Fall Semester 1994
End Date: Spring Semester 2003

Actuarial Science (ACTSC) - Archive

PROFESSOR ARNOLD F. SHAPIRO, in charge

An actuary is a business professional who uses mathematical skills to define, analyze, and solve business and social problems. Actuaries generally are employed in life, health, and casualty insurance companies, consulting firms, and government.

The courses in the Actuarial Science major 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.

Actuarial Science majors are encouraged to begin the series of professional examinations leading to Associateship and Fellowship in either the Society of Actuaries (A.S.A./F.S.A.) or the Casualty Actuarial Society (A.C.A.S./F.C.A.S.). Graduating students will have studied four of the five subjects that must be passed to qualify as an A.S.A. and four of the seven subjects needed to qualify as an A.C.A.S. They commonly have passed at least the first two parts of these professional examinations by the time they graduate.

For the B.S. degree in Actuarial Science, a minimum of 135 credits is required.

Scheduling Recommendation by Semester Standing given like (Sem: 1-2)

GENERAL EDUCATION: 45 credits
(12 of these 45 credits are included in the REQUIREMENTS FOR THE MAJOR)
(See description of General Education in front of Bulletin.)

FIRST-YEAR SEMINAR:
(Included in ELECTIVES or GENERAL EDUCATION course selection)

INTERCULTURAL AND INTERNATIONAL COMPETENCE:
(Included in ELECTIVES or GENERAL EDUCATION course selection)

WRITING ACROSS THE CURRICULUM:
(Included in REQUIREMENTS FOR THE MAJOR)

ELECTIVES: 1-13 credits

REQUIREMENTS FOR THE MAJOR: 89-101 credits
(This includes 12 credits of General Education courses: 3 credits of GWS courses; 3 credits of GS courses; and 6 credits of GQ courses.)

PRESCRIBED COURSES (80 credits)
MATH 140 GQ(4), MATH 141 GQ(4) (Sem: 1-2)
CMPSC 203 GQ(4), ECON 002 GS(3), ECON 004 GS(3) (Sem: 1-4)
ACCTG 211(4), B A 243(4), MS&IS 200(4) (Sem: 3-4)
B A 301(3), B A 302(3), B A 303(3), B A 304(3), ENGL 202D GWS(3), M I S 204(2), MATH 220 GQ(2), MATH 230(4), STAT 414(3), STAT 415(3) (Sem: 5-6)
INS 301(3), INS 310W(3)[1], INS 320(3), INS 401(3)[1], INS 410(3)[1], INS 411(3)[1], INS 412(3)[1] (Sem: 5-8)

ADDITIONAL COURSES (3 credits)
Select 3 credits in consultation with adviser from MATH 484(3) or STAT 460(3) (Sem: 5-8)

SUPPORTING COURSES AND RELATED AREAS (6-18 credits)
(Students may apply 6 credits of ROTC.)
Attainment of third level proficiency in a single foreign language (0-12). Proficiency must be demonstrated by either examination or course work. See the admission section of the general information in this bulletin for the placement policy for Penn State foreign language courses. (Sem: 1-4)
Select 6 credits of international courses related to the foreign language area (see departmental list of approved courses) (Sem: 5-8)

[1] A student enrolled in this major must receive a grade of C or better, as specified in Senate Policy 82-44.

Last Revised by the Department: Fall Semester 1994

Blue Sheet Item #: 21-02-005

Review Date: 04/11/00 (General Education information updated)

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