College of Arts & Sciences

Actuarial Science Program

Actuarial Science - GER

For students who entered SJU before the fall of 2010, or transfer students who entered SJU in the fall of 2010 with 15 or more credits:

GER Common Courses (See Curricula): six courses

GER University Distribution (See Curricula): fourteen courses, including

Mathematics:

MAT 161  Calculus I 

MAT 162  Calculus II 

Natural Science: 
a 2-semester sequence of a laboratory science
 
Social/Behavioral Sciences:
ECN  101  Introductory Economics (Micro)
ECN  102  Introductory Economics (Macro)

GER Electives: any five courses

Major Concentration: fifteen courses, including
 
CSC 120 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 323 Applied Statistical Methods
FIN 200 Introduction to Finance
FIN 300 Intermediate Finance
RMI 200 Introduction to Insurance
ACC 101 Financial Accounting
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.