The Actuarial Science Program is a part of the Finance 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.
The Actuarial Science Program offers courses covering the learning objectives described
in the Education section of the Society of Actuaries (SOA) website (www.soa.org)
for the professional Actuarial Examinations covering Probability (P), Financial
Mathematics (FM), Actuarial Models – Financial Economics (MFE), Actuarial Models
– Life Contingencies (MLC), 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 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.
The Actuarial Science Program is a part of the Finance and Actuarial Science Department
in the College of Business Administration (CBA). However, all undergraduate courses
are offered to majors/minors in both the CBA and the College of Arts and Sciences
(A&S). One can pursue an actuarial career having majored or minored in actuarial
science in either CBA or 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 Lab: Basic Actuarial Application of Probability
|
1
|
SOA P/CAS 1
|
Fall
|
|
402. Lab: Basic Actuarial Application of Financial Mathematics
|
1
|
SOA FM/CAS 2
|
Spring
|
|
403. Lab: Actuarial Models -- Life Contingencies
|
1
|
SOA MLC/CAS 3L
|
Spring
|
|
404. Lab: Construction & Eval of Actuarial Models
|
1
|
SOA C/CAS 4
|
Varies
|
|
405. Lab: Actuarial Models -- Financial Economics Segment
|
1
|
SOA MFE/CAS 3F
|
Fall
|
|
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
|
SOA MLC/CAS 3L | SOA MFE/CAS 3F
|
Varies
|
|
470. Life Contingencies I
|
3
|
SOA MLC/CAS 3L
|
Spring
|
|
471. Life Contingencies II
|
3
|
SOA MLC/CAS 3L
|
Fall
|
|
473. Introduction to Risk Theory
|
3
|
SOA C/CAS 4
|
Fall
|
|
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.
All actuarial science students are encouraged to join the UNL Actuarial Science
Club, and actively participate in its activities. The purposes of the Club are to:
provide students with a better understanding of the actuarial profession and the
types of employment available in an actuarial career; promote actuarial science
in educational institutions; assist students in preparing for the professional actuarial
examinations; and foster close relationships among students in the common pursuit
of an actuarial career.
A&S Requirements for 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, at least one of {ACTS 410, ACTS 425, ACTS 450 or FINA 467}, ACTS 471,
ACTS 473, and ACTS 475. Actuarial Science majors are also encouraged to take ACTS
problem labs as appropriate.
*CAS/SOA VEE denotes courses approved for credit from the professional actuarial
organizations if achieve a grade of B- or better.
A&S Requirements of 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 (or 201/202)
- Econ 211 and 212 (CAS/SOA VEE*)
- Finance 307 or 338, 363, 461 (CAS/SOA VEE*), 463
- Communication 286
- Computer Science 101 and 101L
- English 150, 151
- Management 350, 360
- Marketing 341
- Mathematics 221, 314
See accompanying:
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 major in General Business
Administration, Accounting, Economics, Finance, Management or Marketing and use
the free electives to pick up an equivalent of a minor in Actuarial Science.
CBA Requirements for the minor in actuarial science:The minor requires
12 hours of actuarial science courses plus prerequisite mathematics and statistics
courses.
See accompanying:
For additional information concerning the actuarial profession and the UNL Actuarial
Science Program contact:
Additional information about an actuarial career and the actuarial profession is
available at: http://www.beanactuary.org/.
For more information on majors in the College of Business Administration at the
University of Nebraska, go to http://www.cba.unl.edu/programs/
| W3C | CSS 