B. S. in Actuarial Science

MU Actuarial Links

B. S. in Actuarial Science

Bachelor of Science in Mathematics with Emphasis in Actuarial and Financial Mathematics

What is an Actuary?

Actuaries are business professionals who analyze and assess the financial impact of risk for insurance companies, consulting and investment firms, government agencies, employee benefit departments of large corporations, hospitals, or banks. They perform quantitative analysis using skills in mathematics, statistics, economics, and finance to decrease the impact of an uncertain event.

Being an actuary requires passing a series of examinations to earn an actuarial designation through the Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS).

Why Mizzou?

The actuarial mathematics program at the University of Missouri, Columbia is housed in the College of Arts and Science (Department of Mathematics) and is designed to prepare students for four SOA actuarial exams. Students are strongly encouraged to pass at least two of these exams during their undergraduate career. It is also strongly recommended that students complete a summer internship before their senior year. In addition, students are required to complete a wide variety of courses in mathematics, statistics, economics, and finance.

Many students who successfully complete the program find full-time employment with large insurance/consulting companies. Mizzou’s actuarial mathematics program allows for students to get to know each other in small class sizes and form lasting friendships. Students are encouraged to join Mizzou Actuarial Club and/or Gamma Iota Sigma to network with other actuarial science students and recruiters.

Professional Examinations and Corresponding Mizzou Courses

To become an Associate of the Society of Actuaries (ASA), candidates must complete five preliminary exams, earn Validation by Educational Experience (VEE) credit, complete Fundamentals of Actuarial Practice (FAP), and attend an Actuarial Professionalism Course (APC).

The five preliminary actuarial exams are Probability (P), Financial Mathematics (FM), Models for Financial Economics (MFE), Models for Life Contingencies (MLC) and Construction and Evaluation of Actuarial Models (C).

SOA Exam CAS Exam Hours Questions Format Mizzou Course
P Exam 1 3 30 multiple choice computer-based test Stat 4750
FM Exam 2 3 35 multiple choice computer-based test Math 4370
MFE Exam 3F 3 30 multiple-choice computer-based test

Math 4355

Math 4590

MLC   4

20 multiple-choice

6 written answer

paper and pencil test Math 4371

 

Students earn VEE credits in the areas of economics, corporate finance, and applied statistics through approved college classes, online courses, or standardized examinations. Students may complete the following courses at Mizzou for VEE credit. After passing two actuarial exams, one may apply for VEE credit.

VEE Topic Mizzou Course Acceptable Grade
Applied Statistical Methods STAT 4510 and STAT 4870 > B-
Economics

ECON 1014 and ECON 1015

(or ECON 1051H)

> B-
Corporate Finance FINANC 3000 and FINANC 4020 > B-

More information about the professional exams can be found on the Education and Examination page on the SOA website:

https://www.soa.org/Education/Exam-Req/edu-asa-req.aspx

Emphasis in Actuarial and Financial Mathematics Degree Requirements

One of the following two courses:

Additional requirements

A minimum of 5 credits from the following courses:

Basic skills requirement
Basic skills and general education requirements must be met in accordance with University and College of Arts and Science rules governing degree programs.

  • English 1000 (Exposition & Argumentation)
  • Foreign language or foreign language alternative [12 hours of 2000 level courses from one area outside of mathematics]

Foundation and graduation requirements of the College of Arts and Science
Arts and Science General Education

It is also recommended that the following courses are chosen as electives