Actuarial Science, B.S.

Department of Mathematical Sciences
615-898-2669
Don Hong, program coordinator
Don.Hong@mtsu.edu

The Actuarial Science major is designed for students who have a strong mathematical ability with an interest in applying their mathematical knowledge to insurance, finance, risk management, investments, and other areas of business. The program is classified by the Society of Actuaries (SOA) as an Advanced Undergraduate Actuarial Science program and is in complete compliance with the requirements set forth by the Society of Actuaries and the Casualty Actuarial Society (CAS) in the Year 2000 Syllabus and beyond. Therefore, the student can choose coursework necessary to prepare for the SOA/CAS Course/Exams 1 through 4 and SOA Course 6.

Actuarial Science majors preparing for the actuarial examination series and an actuarial science career should complete this professional program in Actuarial Science.

All courses in the Actuarial Science major or minor (including supporting coursework) must be completed with a grade of C (2.00) or better. All courses transferred from other institutions for credit in the Actuarial Science major or minor must carry a grade of C (2.00) or better and be approved by the department chair.

The following specialized courses do not count toward an Actuarial Science major or minor: MATH 1010 , MATH 1410 , MATH 1420 , MATH 1530 , MATH 1630 , MATH 1710 , MATH 1720 , MATH 1730 , MATH 1810 , and MATH 4010 . However, MATH 1630 , MATH 1730 , and MATH 1810 may count toward a minor in Mathematics for Managerial, Social, and Life Sciences.

Academic Map

Following is a printable, suggested four-year schedule of courses:

Mathematics, Actuarial Science, B.S., Academic Map

Degree Requirements

General Education (41 hours)

General Education requirements (shown in curricular listings below) include courses in Communication, History, Humanities and/or Fine Arts, Mathematics, Natural Sciences, and Social/Behavioral Sciences.

The following General Education courses are required for this major:

MATH 1910 (Math)
ECON 2410 (Soc/Beh Sci)

Major Requirements (33 hours)

Mathematics Core (12 hours)

MATH 1910 - Calculus I 4 credit hours (3 credit hours counted in General Education, 1 credit hour remaining)
MATH 1920 - Calculus II 4 credit hours
MATH 3110 - Calculus III 4 credit hours
STAT 3150 - Mathematical Statistics I 3 credit hours

Actuarial Science Core (21 hours)

ACSI 4140 - Mathematical Foundations of Actuarial Science 3 credit hours
ACSI 4200 - Introduction to Mathematics of Investment 3 credit hours
ACSI 4220 - Mathematics of Pricing Theory 3 credit hours
ACSI 4230 - Mathematics of Compound Interest 3 credit hours
ACSI 4330 - Actuarial Mathematics I 3 credit hours
Select two courses from the following:
ACSI 4240 - Mathematics of Interest Theory, Economics and Finance 3 credit hours
ACSI 4340 - Actuarial Mathematics II 3 credit hours
ACSI 4630 - Mathematics of Risk Management 3 credit hours
ACSI 4640 - Mathematics of Options, Futures, and Other Derivatives 3 credit hours
STAT 4200 - Statistical Methods for Forecasting 3 credit hours

Supporting Courses (22 hours)

ACTG 3000 - Survey of Accounting for General Business 3 credit hours
CSCI 1170 - Computer Science I 4 credit hours
ECON 2420 - Principles of Economics, Microeconomics 3 credit hours
FIN 3610 - General Insurance 3 credit hours
MATH 4990 - Seminar in Mathematics 3 credit hours
STAT 4190 - Mathematical Statistics II 3 credit hours
STAT 4320 - Probability and Stochastic Processes 3 credit hours

Electives (24 hours)

One course must be from Computer Science or Information Systems

NOTE:

Students with a major in Actuarial Science may substitute STAT 3150 for MATH 2010 and MATH 2050 ; and ACSI 4200 for MATH 3460 .

Total hours in program: 120

Curriculum: Actuarial Science

Curricular listings include General Education requirements in Communication, History, Humanities and/or Fine Arts, Mathematics, Natural Sciences, and Social/Behavioral Sciences categories.

Students should consult their advisors each semester to plan their schedules.

Freshman

ENGL 1010 - Expository Writing 3 credit hours (Comm)
ENGL 1020 - Research and Argumentative Writing 3 credit hours (Comm)
MATH 1910 - Calculus I 4 credit hours (Math)
MATH 1920 - Calculus II 4 credit hours
CSCI 1170 - Computer Science I 4 credit hours
Natural Sciences (2 prefixes) 8 credit hours
Humanities and/or Fine Arts 3 credit hours

Subtotal: 29 Hours

Sophomore

COMM 2200 - Fundamentals of Communication 3 credit hours (Comm)
Humanities and/or Fine Arts 3 credit hours
MATH 3110 - Calculus III 4 credit hours
ENGL 2020 - Themes in Literature and Culture 3 credit hours (Hum/FA) OR
ENGL 2030 - The Experience of Literature 3 credit hours (Hum/FA) OR
HUM 2610 - Foreign Literature in Translation 3 credit hours (Hum/FA)
ECON 2410 - Principles of Economics, Macroeconomics 3 credit hours (Soc/Beh Sci)
ECON 2420 - Principles of Economics, Microeconomics 3 credit hours
ACSI 4200 - Introduction to Mathematics of Investment 3 credit hours
ACSI 4220 - Mathematics of Pricing Theory 3 credit hours
Choose 6 hours from:
HIST 2010 - Survey of United States History I 3 credit hours OR
HIST 2020 - Survey of United States History II 3 credit hours OR
HIST 2030 - Tennessee History 3 credit hours

Subtotal: 31 Hours

Junior

STAT 3150 - Mathematical Statistics I 3 credit hours
STAT 4190 - Mathematical Statistics II 3 credit hours
ACSI 4140 - Mathematical Foundations of Actuarial Science 3 credit hours
ACSI 4230 - Mathematics of Compound Interest 3 credit hours
ACSI 4330 - Actuarial Mathematics I 3 credit hours
ACTG 3000 - Survey of Accounting for General Business 3 credit hours
FIN 3610 - General Insurance 3 credit hours
Elective 3 credit hours
Minor 3 credit hours
CSCI/INFS elective 3 credit hours (approved by advisor)

Subtotal: 30 Hours

Senior

STAT 4320 - Probability and Stochastic Processes 3 credit hours
MATH 4990 - Seminar in Mathematics 3 credit hours
STAT/ACSI electives 6 credit hours
Minor courses 12 credit hours
Electives 3 credit hours
Social/Behavioral Sciences 3 credit hours