Actuarial Science, BSLAS
for the degree of Bachelor of Science in Liberal Arts and Sciences Major in Actuarial Science
This major is sponsored by the Department of Mathematics, and is an interdisciplinary subject involving mathematics, statistics, and financial economics. It is designed to prepare students to enter the actuarial profession, as well as to provide a background in quantitative finance and risk management.
Undergraduate programs in Mathematics
for the degree of Bachelor of Science in Liberal Arts & Sciences, Major in Actuarial Science
Departmental distinction: To qualify for distinction, the student must have a grade point average in ASRM courses of at least 3.25, and pass at least two examinations offered by the professional actuarial societies. To qualify for high or highest distinction, the student must have passed at least three professional exams, with highest distinction going to those whose grade point averages in mathematics are at least 3.75. Finance courses and additional professional exams may also be given consideration in close decisions.
General education: Students must complete the Campus General Education requirements including the campus general education language requirement.
Minimum required major and supporting course work: normally equates to 57-61 hours including 32-33 hours of actuarial courses beyond calculus. Twelve hours of 300- or 400-level courses in the major must be taken on this campus.
Minimum hours required for graduation: 120 hours. Students will complete 40 hours of upper division coursework (these hours can be drawn from all elements of the degree).
| Code | Title | Hours |
|---|---|---|
| Calculus through: | 11-12 | |
| Calculus | ||
or MATH 221 | Calculus I | |
| Calculus II | ||
| Calculus III (or equivalent ) | ||
| Select one of the following: | 3-4 | |
| Foundations of Data Management | ||
| Intro Computing: Engrg & Sci | ||
| Intro Computing: Non-Tech | ||
| Introduction to Computer Science I | ||
| Introduction to Computer Science | ||
| ASRM 210 | Theory of Interest | 3 |
| Select one of the following sequences (ASRM preferred): | 7-8 | |
| Actuarial Statistics I and Actuarial Statistics II | ||
OR | ||
| Statistics and Probability I and Statistics and Probability II | ||
| ASRM 406 | Linear Algebra with Financial Applications | 3 |
| ASRM 450 | Methods of Applied Statistics | 3 |
| Select four of the following: | 12-13 | |
| Stochastic Processes for Finance and Insurance | ||
| Investments and Financial Markets | ||
| Basics of Statistical Learning | ||
| Loss Models | ||
| Casualty Actuarial Mathematics | ||
| Life Contingencies I | ||
| Life Contingencies II | ||
| Select an additional course from the above list or an approved section of ASRM 499 | 3 | |
| FIN 221 | Corporate Finance | 3 |
| Three additional courses from: | 9 | |
| Fundamentals of Accounting | ||
| Inter Microeconomic Theory | ||
| Inter Macroeconomic Theory | ||
| Introduction to Insurance | ||
| Financial Markets | ||
| Advanced Corporate Finance | ||
| Property-Liability Insurance | ||
| Managing Market Risks for Financial Institutions | ||
| Employee Benefit Plans | ||
| Total Hours | 57-61 | |
for the degree of Bachelor of Science in Liberal Arts and Sciences Major in Actuarial Science
Student Learning Outcomes
- Have sufficient exposure to actuarial and financial mathematics to be familiar with at least 80% of the material on five of preliminary Society of Actuaries credentialing exams.
- Be familiar with the role of insurance in society, basic economic theory, and the basics of how insurance and financial markets operate.
- Have familiarity with several of the technical tools, computer languages or software packages used by actuaries.
- Develop communication, leadership and teamwork skills, and understand their importance in the actuarial industry.
- Be able to apply this knowledge and these skills in new combinations and to new problems.
for the degree of Bachelor of Science in Liberal Arts and Sciences Major in Actuarial Science
program website: Actuarial Science
program faculty: Actuarial Science Faculty
department website:https://math.illinois.edu/
email: ASRM-advising@illinois.edu
overview of college admissions & requirements: Liberal Arts & Sciences
college website: https://las.illinois.edu/