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Master of Science in Actuarial Science

Curriculum

Actuaries are professionals who help businesses to assess the risk of certain events occurring. They assemble and analyze data to estimate the probability and likely cost of the occurrence of an event such as death, sickness, injury, disability or loss of property. The Master of Science in Actuarial Science degree program is administered through the Department of Mathematical Sciences. The objective of the program is to educate future leaders of the actuarial industry with training in actuarial theory and methods in a wide spectrum of actuarial applications involving probabilistic and statistical models.

All students are prepared to take five actuarial preliminary exams. Students who have not taken classes required for Validation of Educational Experience (VEE) credits in statistics, finance and economics will have such an opportunity. Upon acquiring relevant proficiency in mathematics — particularly of probability, statistics, decision theory and financial
mathematics — together with knowledge of insurance, passing five actuarial exams and obtaining three VEE credits, the graduates of the program can be expected to be able to work as actuaries in insurance, consulting, finance, government and emerging markets.

Program Information

School: School of Natural Sciences and Mathematics

Program: Actuarial Science

Catalog page: MS

MS in Actuarial Science Fact Sheet

MS in Actuarial Science Fact Sheet

Application Requirements

GPA: One of the components of a student's academic history which is evaluated when the student is seeking admission to the graduate program is his/her performance on certain standardized tests. Since these tests are designed to indicate only the student's potential for graduate study, they are used in conjunction with other measures of student proficiency, such as GPA (grade point average), etc., in determining the admission status of a potential graduate student. Accordingly, there is no rigid minimum cutoff score for admission to the program.

Test score required: Yes

Most applicants admitted to either the MS or PhD programs have GRE scores of at least 143 verbal, 155 quantitative, and 310 combined. However, exceptions are made in some cases when other credentials are especially strong. Higher standards prevail for applicants seeking Teaching Assistantships.

Deadlines: University deadlines apply.

Contact

Wenyi Lu

Possible Careers

Graduates of the program seek positions such as: professionals in insurance industry, government, consulting, financial or accounting firms. The job of an actuary consistently appear among the top jobs in the rankings of 200 jobs by CareerCast’s Jobs Rated Almanac based upon factors such as work environment, income, hiring outlook and stress.

Salary Information

See Bureau of Labor Statistics for detailed salary information on these careers. Another great resource is the Occupational Outlook Handbook.

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