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University Bulletin
Undergraduate Degree Programs

Business, Smeal College

ARCHIVED FILE
Begin Date: Summer Session 2007
End Date: Spring Semester 2009


Actuarial Science - ARCHIVE

University Park, Smeal College of Business (ACTSC)

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 six 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.

Entrance Requirement: To be eligible for entrance into the Actuarial Science (ACTSC) major, a degree candidate must be enrolled in the Smeal College of Business or the Division of Undergraduate Studies and satisfy requirements for entrance to the major.

Specific entrance requirements include:

  1. The degree candidate must be taking, or have taken, a program appropriate for entry to the major as shown in the bulletin, including approximately 60 credits of course work.
  2. Complete the following entrance to major requirements: ACCTG 211(4)[1]; B A 243(4)[1] or B A 241(2)[1] and B A 242(2)[1]; ECON 002 GS(3), ECON 004 GS(3), MIS 204(3)[1]; SCM 200 GQ(4)[1] or STAT 200 GQ(4)[1]; ENGL 015 GWS(3) or ENGL 030 GWS(3); MATH 140 GQ(4)[1]; and MATH 141(4)[1]. These courses must be completed by the end of the semester during which the entrance to major process is carried out.
  3. A minimum cumulative grade point average of 3.00 prior to and through to the end of the semester during which the entrance to major process is carried out.

For the B.S. degree in Actuarial Science, a minimum of 130 credits is required with at least 15 credits at the 400 level.

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

GENERAL EDUCATION: 45 credits
(15 of these 45 credits are included in the REQUIREMENTS FOR THE MAJOR)
(See description of General Education in this bulletin.)

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

UNITED STATES CULTURES AND INTERNATIONAL CULTURES:
(Included in ELECTIVES or GENERAL EDUCATION course selection)

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

ELECTIVES: 11 credits

REQUIREMENTS FOR THE MAJOR: 89 credits
(This includes 15 credits of General Education courses: 3 credits of GWS courses; 6 credits of GQ courses; and 6 credits of GA, GH, or GS courses.)

PRESCRIBED COURSES (68 credits)
MATH 140 GQ(4)[1], MATH 141 GQ(4)[1] (Sem: 1-2)
ACCTG 211(4)[1], ECON 002 GS(3), ECON 004 GS(3), MIS 204(3)[1] (Sem: 1-4)
B A 301(2), B A 302(2), B A 303(2), B A 304(2), B A 411(3) (Sem: 5-6)
ENGL 202D GWS(3), MATH 220 GQ(2-3), 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 (8 credits)
SCM 200 GQ(4)[1] or STAT 200 GQ(4)[1] (Sem: 1-2)
B A 243(4)[1] or B A 241(2)[1] and B A 242(2)[1] (Sem: 3-4)

SUPPORTING COURSES AND RELATED AREAS (13 credits)
Select 4 credits: Attainment of 12th credit level proficiency in a single foreign language. Proficiency must be demonstrated by either examination or course work (credits count in Electives) (Sem: 1-4)
Select 6 credits of Global Awareness and Understanding from approved course list (credits must be taken in GA, GH, or GS) (Sem: 1-8)
Select 3 credits of supporting coursework. See Department List. (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: Summer Session 2007

Blue Sheet Item #: 35-03-102

Review Date: 11/21/06

UCA Revision #1: 8/2/06

BA

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