Actuarial Science Minor

Program Requirements

Core

An introduction to finance relating to problems, methods, and policies in financing business enterprise.

Prerequisites: ACCT 200, Jr. Standing

Formulation of investment policy of individuals and institutions, factors influencing the values of securities, and techniques of portfolio selection and management.

Prerequisites: FINA 362 

Limits, continuity, the derivative and applications, transcendental functions, L'Hopital's Rule, and development of the Riemann integral.

Prerequisites: Satisfy Placement Table in this section, MATH 115 or both MATH 112 and MATH 113 with “C” (2.0) or better.

Goal Areas: GE-04

Techniques of integration, applications of integration, improper integrals, numerical integration, the calculus of parametric curves, infinite series and sequences, and vectors in two and three dimensions.

Prerequisites: MATH 121 with “C” (2.0) or better or consent 

Restricted Electives

Statistics - Choose 7 - 8 Credit(s).

A calculus based introduction to probability and statistics. Topics include probability, random variables, probability distributions (discrete and continuous), joint probability distributions (discrete and continuous), statistical inference (both estimation and hypothesis testing), confidence intervals for distribution of parameters and their functions, sample size determinations, analysis of variance, regression, and correlation. This course meets the needs of the practitioner and the person who plans further study in statistics. Same as MATH 354. Prereq: MATH 122 with C or better or consent Fall, Spring, Summer

Prerequisites: MATH 122 with C or better or consent 

Simple and multiple linear regression, model adequacy checking and validation, identification of outliers, leverage and influence, polynomial regression, variable selection and model building strategies, nonlinear regression, and generalized linear regression.

Prerequisites: MATH 354 / STAT 354 or STAT 455 with “C” (2.0) or better or consent 

A mathematical approach to statistics with derivation of theoretical results and of basic techniques used in applications. Includes probability, continuous probability distributions, multivariate distributions, functions of random variables, central limit theorem and statistical inference. Same as MATH 455. Prereq: MATH 223 with C or better or consent

Prerequisites: MATH 223 with “C” (2.0) or better or consent

Finance - Choose 3 Credit(s). (See Residency Requirement)

Examination of the fundamentals of the insurance industry; the risk management process; and commercial insurance exposures and policies including commercial property, general liability, and workers' compensation.

Prerequisites: none

Trading practices and procedures utilizing these contracts in hedging and risk management policies for business.

Prerequisites: FINA 362 

Unrestricted Electives

Recommended Courses - Choose 0 - 13 Credit(s). Along with the above courses, the following courses satisfy aspects the VEE (Validation of Educational Experience) of the professional societies associated to actuarial science. Students taking these additional courses may apply them towards becoming certified in the three areas of the VEE: economics, applied statistical methods and corporate finance.

Emphasis on forces influencing employment and inflation. Current problems of the economy are stressed along with tools government has to cope with them.

Prerequisites: none

Goal Areas: GE-05

Examines decision making by the individual firm, the determination of prices and wages, and current problems facing business firms.

Prerequisites: none

Goal Areas: GE-05

Surfaces, vector-valued functions, partial differentiation, multiple integration, and vector calculus.

Prerequisites: MATH 122 with “C” (2.0) or better, or consent

Forms of multivariate analysis for discrete data, two dimensional tables, models of independence, log linear models, estimation of expected values, model selection, higher dimensional tables, logistic models and incompleteness. Logistic regression. Suitable statistical software is introduced, for example, MATLAB, R, SAS etc.

Prerequisites: Either MATH/STAT 354 or both MATH 121 and STAT 154 with “C” (2.0) or better, or consent.