Organizations and Associations
Introduction
The Actuarial Science Program offers courses covering the learning objectives described
in the Society of Actuaries (SOA) Basic Education Catalog for Preliminary Actuarial
Examinations Probability (P), Financial Mathematics (FM), Actuarial Models (M) and
Construction and Evaluation of Actuarial Models (C). There are also UNL courses
that have been approved for the actuarial profession’s Validation by Educational
Experience (VEE) program for the topics of Economics, Corporate Finance and Applied
Statistics.
NOTE: Exams P, FM, MFE, and C are jointly sponsored by the CAS and SOA; Exam
MLC is Not. The CAS will grant a waiver for CAS Exam 3L to those who pass
SOA Exam MLC. The SOA does not grant a waiver for SOA MLC to those who pass
CAS Exam 3L.
Students majoring or minoring in actuarial science are encouraged to take advantage
of the potential benefits of being in the program, including summer internships,
career guidance, job placement, and participation in the Actuarial Science Club.
Students interested in Actuarial Science usually select one of the following: (1)
A major in actuarial science in the College of Business Administration; (2) A major
in actuarial science in the College of Arts & Science; or (3) A minor in actuarial
science and major in a quantitative field such as mathematics, statistics, computer
science, engineering or finance. Some students select a double major in math and
actuarial science. High-ability students may be interested in the 5-year Raikes
School of Computer Science and Management Actuarial Science Major.
NOTE: ALL COURSE WORK FOR THE ACTUARIAL SCIENCE MAJOR MUST BE TAKEN FOR A GRADE.
(See the attached
JDEP Worksheet
(36KB)
)
The Actuarial Science Program is a part of the Finance and Actuarial Science Department
in the College of Business Administration. However, all undergraduate courses are
offered to majors/minors in both the College of Business and the College of Arts
and Sciences. One can pursue an actuarial career having majored or minored in actuarial
science in either CBA or the College of Arts and Sciences (A&S). The considerations
in choosing a college include what other interests a student has, the general requirements
of the college, and the scholarships and financial aid available.
The current undergraduate Actuarial Science curriculum is as follows:
|
Course (ACTS)
|
Credit(s)
|
CAS/SOA
Requirements
|
Semester Taught
|
|
399. Independent Study (needs Director’s approval)
|
1-6
|
|
Varies
|
|
401 Basic Actuarial Application of Probability
|
1
|
SOA P/CAS 1
|
Varies
|
|
402. Basic Actuarial Application of Financial Mathematics
|
1
|
SOA FM/CAS 2
|
Varies
|
|
403. Models for Quantifying Risk
|
1
|
SOA MLC/CAS 3
|
Varies
|
|
404. Construction & Eval of Actuarial Models
|
1
|
SOA C/CAS 4
|
Varies
|
|
405. Actuarial Models, Financial Economics Segment
|
1
|
SOA MFE/CAS 3
|
Varies
|
|
410. Introduction to Credibility, Smoothing of Data, and Simulation
|
3
|
SOA C/CAS 4
|
Spring
|
|
425. Survival Models
|
3
|
SOA C/CAS 4
|
Fall
|
|
430. Actuarial Applications of Applied Statistics
|
3
|
CAS/SOA VEE*
|
Fall
|
|
440. Financial Mathematics
|
4
|
SOA FM/CAS 2
|
Fall
|
|
450. Stochastic Process for Actuaries
|
3
|
|
Spring
|
|
470. Life Contingencies I
|
3
|
SOA MLC/CAS 3
|
Spring
|
|
471. Life Contingencies II
|
3
|
SOA MLC/CAS 3
|
Fall
|
|
473. Introduction to Risk Theory
|
3
|
|
Fall
|
|
- Poisson Processes
|
|
SOA MLC/CAS 3
|
|
|
- Rest
|
|
SOA C/CAS 4
|
|
|
475. Actuarial Applications in Practice
|
3
|
Fellowship
|
Spring
|
*CAS/SOA VEE denotes courses approved for credit from the professional actuarial
organizations if the student achieves a grade of B- or better.
Program in the College of Arts & Science (A&S)
(see the attached
Worksheet
(37KB)
)
A&S Requirements of the major in Actuarial Science:
The major must include a complete calculus sequence (MATH 106-107-208, or 108H-109H,
or the equivalent), the following statistics and probability sequence: STAT 380,
462, 463, and 22 semester hours of actuarial science. (See actuarial science adviser
for specified courses in actuarial science.) Students must complete STAT 462 before
taking any 400-level actuarial science course except ACTS 440; STAT 463 may be taken
concurrently with ACTS 470.
Arts and Sciences Actuarial Science majors are encouraged to take the following
actuarial science courses as part of the major: ACTS 430 (CAS/SOA VEE*), ACTS 440,
ACTS 470, one of {ACTS 410, ACTS 425, or FINA 467}, ACTS 471, ACTS 473, and ACTS
475. Actuarial Science majors are also encouraged to take ACTS problem labs as appropriate.
A&S Requirements for the minor in Actuarial Science:
The minor consists of at least 15 hours of actuarial science courses (12 credit
hours for double majors only); a complete calculus sequence (Math 106-107-208, or
108H-109H, or the equivalent); and all prerequisites. The following courses must
be included in any minor in Actuarial Science: ACTS 440, ACTS 470, and ACTS 471.
In addition, the following courses in other departments are recommended for consideration:
- Accounting 306
- Econ 211 and 212 OR Econ 210 (CAS/SOA VEE*)
- Finance 307 or 338, 363, 461(CAS/SOA VEE*)
- Communication 286
- Computer Science 150A
- English 150, 151
- Management 350, 360
- Marketing 341
- Mathematics 221, 314
Program in the College of Business Administration (CBA)
(See the attached
Check Sheet
(250KB)
)
CBA Requirements of the major in actuarial science: The College
of Business Administration requires 28 hours for the Actuarial Science major. An
actuarial student could major in Actuarial Science, or General Business Administration,
Accounting, Economics, Finance, Management or Marketing and use the free electives
to pick up the equivalent of a minor in Actuarial Science. Note: Because the major
requirements for actuarial science include several finance courses, the finance
minor and major are not available to undergraduate actuarial science students.
CBA Requirements for the minor in actuarial science:The actuarial
science minor is available to College of Business Administration students only.
Course work for the minor cannot be double-counted toward business degree requirements
(with the exception of the MATH/STAT prerequisites and business electives), major,
or other business minor requirements. The minor requires 12 hours of actuarial science
courses plus prerequisite mathematics and statistics courses.
*CAS/SOA VEE denotes courses approved for credit from the professional actuarial
organizations if achieve a grade of B- or better.
Scheduling of courses (samples)
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: http://cba.unl.edu
Additional information about an actuarial career and the actuarial profession is
available at: http://www.beanactuary.org/.
