College of Arts & Sciences

Actuarial Science Program

Actuarial Science - GEP

For students who entered SJU in the fall of 2010 or later, or transfer students who entered SJU in the fall of 2010 with 14 or fewer credits:

GEP Signature Courses (See Curricula): six courses

GEP Variable Courses (See Curricula): six to nine courses, including

Mathematics:

MAT 161 Calculus I

Natural Science:

one semester of any lab-based natural science course (see ILC below)

Social Sciences:

ECN 101 Introductory Economics (Micro)

GEP Overlays (See Curricula): three courses

GEP Integrative Learning Component (ILC): three courses

Economics:

ECN 102 Introductory Economics (Macro)

Mathematics:

MAT 162 Calculus II

Natural Science:

the second semester of the lab-based natural science course (see GEP Variable Courses above)

GEP Electives: any seven courses

Major Concentration: fifteen courses, including

CSC CSC Introduction to Computer Programming
MAT 213 Calculus III
MAT 225 Fundamental Ideas of Mathematics
MAT 226 Introduction to Linear Algebra
MAT 321 Probability
MAT 322 Mathematical Statistics
MAT 423 Applied Statistical Methods&
FIN 200 Introduction to Finance
FIN 300 Intermediate Finance
RMI 200 Introduction to Insurance<
ACC 101 Introduction to Insurance
ASC 301 Actuarial Probability
ASC 401 Mathematics of Finance
DSS 330 Database Management

And one Mathematics elective chosen from MAT 238, MAT 311, MAT 313, MAT 316 or approved by the Actuarial Science program director

Satisfactory completion of the Actuarial Science major automatically qualifies the student to apply for a minor in mathematics, subject to the Mathematics minor GPA restrictions (see the Mathematics section of this catalog). Students are ready to take the first and second actuarial exams at the end of their junior and senior years, respectively. Students are encouraged to participate in a summer internship during their junior/senior year. In the past, these internships have proven to be most valuable to students and their subsequent job search.

ASC 301 Actuarial Probability   - 3 Credits

This course provides an introduction to the basic probabilistic principles of insurance and Risk Management. Selected topics are covered to enable the application of probability theory to solve problems found in insurance and risk management applications. A problem solving approach will be adopted to provide preparation to pass the first actuarial exam co-sponsored by the Casualty Actuarial Society (Part 1) and the Society of Actuaries (Part P). Prerequisite: MAT 321.

ASC 401 Financial Mathematics of Actuarial Science   - 3 Credits

This course provides an in depth study of the theory of interest. Topics that will be covered include: calculation of the effective rates of interest and discount, evaluation of accumulated and present values of fixed and variable annuities, solution of interest problems involving unknown time periods and rates, determination of yield rates, amortization of loans and sinking funds, calculation of the price of a bond, and valuation of securities. This course will prepare students for the actuarial science examination in financial mathematics which is co-sponsored by the Casualty Actuarial Society (Part 2) and the Society of Actuaries (Part FM). Prerequisite: MAT 213.