Pre-Acturial Program - Department of Mathematics

Pre-Actuarial Track
in the
Mathematics B.S. Applied
Option
DEPARTMENT OF MATHEMATICS
5 Lippitt Road, Room 200 • Kingston, RI 02881 USA
p. 401.874.2709 • f: 401.874.4454
e-Mail: mathdept@math.uri.edu
Website: www.math.uri.edu
University of Rhode Island
Department of Mathematics
Introduction
Coursework
The BS Applied Option allows a great
deal of flexibility in selection of courses.
After the basics of 3 semesters of calculus
and a semester of linear algebra, you can
select courses directed toward the goal of
preparing for an actuarial career. You will
need to take a year sequence in analysis or
advanced calculus, and also the following
Math courses and Group I courses as
described in the University Catalog:
Math Courses:
Take MTH-451, MTH-452 and two of the following: MTH-244, MTH-418, and MTH-471.
Group I Courses:
Take STA-409 or STA-412 and two of the
following: ECN-323, ECN-324, ECN-375 or
BUS-320, BUS-321, BUS-335, BUS-337.
The management of financial risk,
which includes the design and implementation of insurance instruments,
is the subject of actuarial science.
Its practitioners, called actuaries, are
employed by insurance companies,
government agencies, and financial
institutions, and many rise to leadership
positions.
Actuarial science is highly mathematical and requires excellent mathematics
skills together with the mathematical
knowledge represented by an undergraduate degree in mathematics. People entering the actuarial profession
pass a series of challenging examinations offered by the actuarial professional societies such as the Society of
Actuaries, and may also submit specific
course work (Validated Educational
Experience, VEE) for credit toward
membership in one of these societies.
Typically, entry-level employment as
an actuary is available to those who
have passed one or two of the actuarial
exams with further exams taken while
employed after self-study. The first
exam is on probability and the second
on financial mathematics. In each case,
problems are posed in the context of
risk management. For more information
see www.beanactuary.org.
The Mathematics BS Applied Option at
the University of Rhode Island provides
a coherent mechanism to prepare for
a career in actuarial science for strong
mathematics students. The goal of the
Pre-Actuarial Track is to prepare you to
pass the first actuarial exam, provide
a solid foundation for the second and
some subsequent exams, provide suitable VEE coursework, and enable you
tosuccessfully seek employment as an
actuary.
Computer Course
One course emphasizing programming:
CSC-200, CSC-201, CSC-211 or CSC-212.
As General Education requirements or as
free electives, you should include ECN-201,
ECN-202, BUS-201, and BUS-202.
Problem Seminar
(for Pre-Actuarial Track)
To help prepare for the first actuarial exam
(Probability), take a 1-credit problem seminar (MTH-393).
Minor or
Double Major
in Business
The coursework described in this brochure
provides a foundation for a minor in finance,
or a double major. Seek advice from the
College of Business if you are interested in
doing so.