PROFESSOR KENNETH M. LUSHT, Chair of the Department of Insurance and Real Estate

The insurance major helps prepare students for careers in actuarial science, corporate risk management, and professional areas within insurance organizations. Actuarial science courses stress the application of mathematical and statistical concepts to the measurement of life contingencies. Students completing the actuarial course sequence are prepared to begin the series of professional examinations leading to the F.S.A. designation (Fellow in the Society of Actuaries). Corporate risk management and insurance students study the management of insurable risks within the firm; the regulatory, legal, and financial aspects of the insurance technique; the management of insurance organizations and employee benefit programs. Students also may study the principles underlying complex insurance contracts and their application in personal estate and financial planning.

Students are encouraged to take upper-level courses in finance, marketing, or other areas of business directly related to their professional interests. Insurance students typically find positions in insurance underwriting, claims management, sales, or the risk management departments of corporations. Actuarial science students find employment in the actuarial divisions of insurance companies, consulting firms, and units of government.

For the B.S. degree in Insurance, a minimum of 128 credits is required (at least 15 credits must be taken at the 400 level).

INSURANCE MINOR: Students must take INS 301(3), 320(3), 400(3), 405(3), R EST 301(3), and either INS 305(3) or 310W(3) for a total of 18 credits.

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

GENERAL EDUCATION: 46 credits
(12 of these 46 credits are included in the REQUIREMENTS FOR THE MAJOR)
(See description of General Education in front of Bulletin.)

ELECTIVES: 3-15 credits

REQUIREMENTS FOR THE MAJOR: 79-91 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 (54 credits)
CMPSC 203 GQ(4), ECON 002 GS(3), 004 GS(3) (Sem: 1-4)
ACCTG 211(4), B A 243(4), M I S 204(2), MS&IS 200(4) (Sem: 3-4)
B A 301(3), 302(3), 303(3), 304(3), ENGL 202D GWS(3), INS 301(3)[1], 310W(3)[1], 320(3)[1], 401(3)[1], 405(3)[1] (Sem: 5-8)

ADDITIONAL COURSES (19 credits)
(Must include at least 3 credits at the 400 level.)
MATH 110 GQ(4) or 140 GQ(4) (Sem: 1-2)
Select 9 credits, in consultation with adviser, from ECON 302 GS(3), 304 GS(3), 323 GS(3), FIN 306W(3), 408(3), INS 305(3), 400(3), 410(3), 411(3), 412(3), MKTG 428(3), R EST 306(3), 409(3), or other business courses (Sem: 5-8)
Select 6 credits, in consultation with adviser, from ECON 342 GS(3), 351(3), 370 GS(3), H P A 101(3), I E 425(3), MATH (STAT)414(3), MATH(STAT)415(3), MATH(STAT) 416(3), MATH 484(3), PHIL 106 GH(3), SPCOM 301(3), 313(3), STAT 460(3), or other courses approved by adviser (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 areas (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.

The Pennsylvania State University ©1998

The University reserves the right to change the requirements and regulations listed here and to determine whether a student has satisfactorily met its requirements for admission or graduation, and to reject any applicant for any reason the University determines to be material to the applicant's qualifications to pursue higher education. Nothing in this material should be considered a guarantee that completion of a program and graduation from the University will result in employment.

Last Revised by the Department: Fall Semester 1995

Blue Sheet #: 23-05-047

Review Date: 6/3/99 (General Education Update)