The University of Nebraska - Lincoln (UNL) offers a complete program in Actuarial Science. The graduate program in (UNL) Actuarial Science at the UNL is open to students with undergraduate degrees in a variety of disciplines. No previous course work in Actuarial Science is required.

Admission Requirements:

1. Must submit Official GRE Score.
2. Must submit an official University transcript. Applicants are expected to have a cumulative grade point average (GPA) of at least 3.0 on the 4-point scale (with A = 4 points).
3. Must submit three (3) letters of reference from persons who are familiar with your academic ability. Forms can be found at the Graduate Admissions website www.unl.edu/gradstudies. Completed forms should be mailed to:
   
   
   University of Nebraska-Lincoln
   Actuarial Science Program
   210 CBA
   Lincoln, NE 68588-0490
   
   
   
4. Applicants whose first language is not English and who have not received a previous degree from an English speaking Institution must submit a Test of Spoken English (TOEFL). Applicants should attain a minimum score of 550 – paper or 80 – IBT.
5. The deadline for applications is March 1 for the Fall Semester (which starts in August) and September 1 for the Spring Semester (which starts in January).
6. Apply Online at http://www.unl.edu/gradstudies/prospective/apply.shtml

Provisional or Conditional Standing

To be admitted with provisional standing, a student's undergraduate preparation must have included at least 12 hours in principles of economics and courses in mathematics which, in the judgment of the Committee, constitute reasonable preparation. Normally, the minimum mathematical preparation will include three semesters of calculus; one semester of linear algebra; one semester of computer programming and an introductory probability and statistics course.

Full Graduate Standing

To be admitted with full graduate standing for work in Actuarial Science, a student must satisfy the requirements for provisional standing. A student must pass Exam P of the Society of Actuaries.

Graduate Program Requirements

The Masters Degree program must be completed without a thesis (Option II) and all requirements under this option must be met. Option I (with a thesis) is not open for this degree. The non-thesis route (Option II) is required because students will find the additional course work more valuable to them than the thesis, especially with regards to the Society of Actuaries exams. A total of 36 hours is required. The MS degree program is expected to take two years (24 months) for students admitted with deficiencies. For those admitted without deficiencies it normally takes 21 months, including the summer.

Major Requirements

In place of the usual major and minor requirements, the master program must include Actuarial Science 840, 870, 871 and 873, and Finance 812, and at least 6 additional hours from Actuarial Science. The program must include at least 12 hours earned in courses open exclusively to graduate students (900 level courses or 800 level courses without 400 or lower level counterparts).

Minor Requirements

Minors are available in Insurance, Economics (non-Insurance), Statistics, or Finance. However, the recommended minor is Finance. These minors are subject to the approval of the Actuarial Science Graduate Committee. Minors require at least 9 hours in the minor area in addition to the major requirements cited above.

Actuarial Science as a Minor

Students enrolled in other departments may choose to use Actuarial Science as their minor area under Option II. A minor in Actuarial Science must include Actuarial Science 840, 870, 871 and 873. Students wishing to do this should contact the Chairperson or Advisor of their major area, and the Director of the Actuarial Science Program.

Grades

It should be noted that within the Actuarial Science program the normal graduate school scholarship requirement, "B" or better applies to all 800 level major & minor courses. The normal graduate school scholarship requirement, "C" or better, for 900 level courses remains the same for the Actuarial degree program. However, a student who receives a "C" grade or lower in his/her minor area may be required to take a Comprehensive Exam in the minor area.

Memorandum of Courses

The Memorandum of Courses, which contains the proposed list of courses for the student's graduate program, must be filed with the Graduate Studies Office (1100 Seaton Hall) before the end of the second semester has been completed. Students should check with the Graduate Office for further clarification.

The following courses cannot be included as a part of your memorandum of courses:

Economics 815, 816, 819, 837 and 854; Math 800, 813, 814, 820, 821 and 822; Statistics 880, 881; Computer Science 840

Comprehensive Examinations

Masters degree students will be expected to pass a written comprehensive examination on Actuarial Science. The Actuarial Science Comprehensive Exam for students graduating in May or August is held on the first Tuesday of April and for students graduating in December on the Tuesday before Thanksgiving. Students may be expected to pass another written comprehensive examination on their minor area. Check with your Minor Department. In addition, an oral examination may be required.

Scheduling of Classes

The scheduling of the courses for an actuarial science graduate student depends on the student's background. Appropriate adjustments are needed for students who do not have the prerequisites for the various classes. The core courses and other necessary courses should be worked into the schedule according to the individual student's preferences and area of concentration.

EACH STUDENT SHOULD CONSULT WITH HIS/HER ACADEMIC ADVISOR REGARDING THE DETAILS OF THE STUDENT'S INDIVIDUAL PROGRAM.

Current Graduate Courses	Credit(s)	Related Exam
Undergraduate Problem Labs for SOA/CAS Exams
401 Basic Actuarial Application of Probability	1	SOA Exam P / CAS 1
402 Basic Actuarial Application of Financial Mathematics	1	SOA Exam FM / CAS 2
403 Models for Quantifying Risk	1	SOA Exam MLC / CAS 3
404 Construction & Eval of Actuarial Models	1	SOA Exam C / CAS 4
405 Actuarial Models, Financial Economics Segment	1	SOA Exam MFE/CAS 3
Graduate Courses
810 Intro Credibility, Smoothing of Data, and Simulation	3	SOA Exam C
825 Survival Models	3	SOA Exam C
*830 Actuarial Applications of Applied Statistics	3	CAS/SOA VEE
840 Financial Mathematics	4	SOA Exam FM
850 Stochastic Process for Actuaries	3
860 Loss Distributions	3
870 Life Contingencies I	3	SOA Exam MLC/CAS 3
871 Life Contingencies II	3	SOA Exam MLC/CAS 3
873 Introduction to Risk Theory	3	SOA Exam C
875 Actuarial Applications in Practice	3	Fellowship
898 Special Topics	3
930 Fundamentals of Pension Mathematics	3
950 Seminar in Actuarial Science	3
960 Readings in Casualty Actuarial Science	3
973 Actuarial Risk Theory	3
975 Stochastic Calculus	3

*CAS/SOA VEE denotes courses approved for credit from the professional actuarial organization if the student achieves a grade of B- or better.

Current Actuarial Science Faculty

For additional information concerning the actuarial profession and the UNL Actuarial Science Program contact:

Actuarial Science Program
University of Nebraska-Lincoln
CBA 210
Lincoln, NE 68588-0490
Phone: (402) 472-2330
Fax: (402) 472-5140
Email:
Website: www.cba.unl.edu

Additional information about an actuarial career and the actuarial profession is available at: www.BeAnActuary.org.

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