BS in Actuarial Science
Murfreesboro, USA
DURATION
4 Years
LANGUAGES
English
PACE
Full time
APPLICATION DEADLINE
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EARLIEST START DATE
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TUITION FEES
USD 1,178 / per credit *
STUDY FORMAT
On-Campus
* in-state tuition per credit hour: $385 | out-of-state tuition per credit hour: $1,178
Scholarships
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Introduction
Students interested in combining mathematics and business coursework for an Actuarial Science degree can pursue a newly emerging career with well-paying jobs in high demand. This special discipline trains students to apply mathematical skills and statistical techniques to manage risks and solve problems in insurance and pension programs. MTSU is the only university in Tennessee that offers actuarial science coursework for both undergraduate and graduate degrees. The program, founded at MTSU in 1987, now has been elevated from an undergraduate concentration to a major. Actuarial Science majors take courses in mathematics, statistics, economics, and insurance designed to help prepare for preliminary examinations from the actuarial professional societies and to succeed in the field. MTSU students also have opportunities to interact with industry professionals and to earn scholarships and internships.
Admissions
Curriculum
The Actuarial Science major is designed for students who have the 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 2018 Syllabus and beyond. Therefore, the student can choose the coursework necessary to prepare for all the preliminary and foundational SOA/CAS Course/Exams validation by educational experience (VEE) courses and project courses in predictive analytics.
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.
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 - World Literatures 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 Corporate Finance 3 credit hours
Choose 6 hours from:
- HIST 2010 - Survey of United States History I 3 credit hours
- HIST 2020 - Survey of United States History II 3 credit hours
- HIST 2030 - Tennessee History 3 credit hours
- HIST 2040 - Survey African American History I 3 credit hours
- HIST 2050 - Survey African American History II 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 3050 - Principles of Risk Management and Insurance 3 credit hours
- Elective 3 credit hours
- Minor course 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
- Elective 3 credit hours
- Social/Behavioral Sciences 3 credit hours
Subtotal: 30 Hours
Program Tuition Fee
Career Opportunities
A career as an actuary is better described as a “business" career with a mathematical basis rather than as a “technical" mathematical career. The occupation of an actuary has been ranked for many years as one of the best jobs based on a variety of factors. Actuaries may work for insurance companies, consulting firms, government, employee benefits departments of large corporations, hospitals, banks, and investment firms, or more generally, in businesses that need to manage financial risk. Examples of potential positions include
- Actuarial analyst
- Actuarial auditor
- Annuity pricing actuary
- Chief actuary / vice president
- Consulting actuary
- Data analyst
- Financial actuary
- General liability actuary
- Health actuary
- Investment researcher
- Investment valuation analyst
- Life reinsurance pricing analyst
- Life valuation analyst
- Model validation financial actuary
- Mortality valuation analyst
- Product actuary
- Risk and hedging analyst
- Risk management analyst
- Specialty pricing actuary
- Underwriter
Employers of MTSU alumni include
- Acuff and Associates
- Aetna
- Alfa Insurance
- American General Life and Accident Insurance Co.
- Bank of China
- Blue Cross Blue Shield of Tennessee
- BPS&M—Wells Fargo Co.
- Caterpillar Finance
- China Actuarial Society
- China PingAn Insurance
- Cigna
- Consumers Insurance
- Direct General Group of Companies
- Farm Bureau Insurance
- Farmers Insurance
- First Acceptance Insurance
- Genworth Financial
- Humana Inc., Kentucky
- Humana Inc., Texas
- Lincoln Financial Group
- Nationwide Insurance
- Select Actuarial Services
- Sinokorea Life Insurance Co.
- Sigma Actuarial Consulting Group, Inc.
- State Farm Insurance
- Towers and Watson, Memphis
- Towers and Watson, Atlanta
- Travelers Insurance
- Willis North America Inc.
- Zurich Insurance
English Language Requirements
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