FOX SCHOOL OF BUSINESS AND MANAGEMENT
Learn more about the Master of Science in Actuarial Science.
About the Program
The Fox School of Business and Management has a longstanding tradition of preparing our students with the power to lead within the world of business. Actuaries specialize in the evaluation of insurance and financial risks and distinguish themselves through a combination of analytical skills, business acumen and professionalism. Temple’s Actuarial Science MS program prepares students for a successful career in the field through its rigorous coursework and exceptional opportunities for professional development. Our curriculum covers multiple professional actuarial exams and can be tailored to students’ interests and background.
We are recognized as a Center of Actuarial Excellence (CAE) by the Society of Actuaries (SOA) and as a Global Center of Insurance Excellence (GCIE) by the International Insurance Society. In 2020, we received the CAS University Award from the Casualty Actuarial Society, and the organization has more recently recognized the program with Gold Tier status. We participate in SOA’s University Earned Credit (UEC) program, allowing students to earn credit for all five eligible actuarial exams (ALTAM, ASTAM, FAM, FM, SRM) through their coursework at Temple.
Time Limit for Degree Completion: 6 years
Campus Location: Main
Full-Time/Part-Time Status: The degree program can be completed on a full- or part-time basis.
Affiliation(s): Research interests of Fox faculty are supported by numerous centers and institutes throughout the Fox School and Temple University.
Accreditation: The MS in Actuarial Science is accredited by the Association to Advance Collegiate Schools of Business (AACSB International).
Job Prospects: Actuaries hold positions of responsibility with consulting firms, government insurance programs, government regulatory organizations, insurance companies and investment banks. We help prepare students for these careers through our coursework and our extensive professional development opportunities, including an on-campus actuarial career fair and a resume book. The Fox Center for Student Professional Development (CSPD) provides students with additional career coaching and professional development resources that support the job search.
Non-Matriculated Student Policy: This program requires the student to be matriculated in the degree program.
Financing Opportunities: Citizens and permanent residents of the United States are considered domestic students and are typically eligible for federal student loans and alternative loans through private lenders. The Fox School grants 5% tuition scholarships to alumni who are admitted to the program.
Admission Requirements and Deadlines
Application Deadline:
Fall:
- December 15 – Early Admissions Deadline
- March 1 – Scholarship Deadline and International Deadline
- June 30 – Final Deadline
Spring:
- August 1 – Scholarship Deadline and International Deadline
- November 1 – Final Deadline
Applications are reviewed as they are received and will be considered after the deadline on a space-available basis.
APPLY ONLINE to this Fox graduate program.
Letters of Reference:
Number Required: 1
From Whom: Professional references from an immediate supervisor, current or past, are preferred. Academic references are acceptable.
Bachelor's Degree in Discipline/Related Discipline: The equivalent of a four-year U.S. baccalaureate degree from an accredited university or college is required. For three-year degrees, mark sheets must be evaluated by WES or another NACES organization.
Statement of Goals: Essay prompts can be found in the online application portal.
Standardized Test Scores:
GRE/GMAT: Required. Scores for the GRE typically fall within the following percentile ranges: 50 to 99 Verbal; 80 to 99 Quantitative. Exam P, Exam FM, Exam FAM may be accepted in place of GMAT/GRE.
Applicants who earned their baccalaureate degree from an institution where the language of instruction was other than English, with the exception of those who subsequently earned a master’s degree in a country where the language of instruction is English, must report scores for a standardized test of English that meet these minimums:
- TOEFL iBT: 90
- IELTS Academic: 7.0
- Duolingo: 110
- PTE Academic: 68
Resume: Current resume or CV is required.
Interview: Candidates are invited to interview in person or virtually. Interviews are required on a case-by-case basis.
Optional Essay: Prompts for this optional essay can be found in the online application portal.
Transfer Credit: Upper-level graduate credits from an AACSB-accredited graduate business program, but not previously applied to a conferred degree, may be transferred into the MS program. The credits must be part of the required degree program at Temple University. To be transferred, the grade must be a "B" or better. The Admissions Committee makes recommendations for transferring credits to the department chair. The maximum number of credits a student may transfer is 6.
Program Requirements
General Program Requirements:
Number of Credits Required Beyond the Baccalaureate: 30
Required Courses:
| Code | Title | Credit Hours |
|---|---|---|
| Core Courses 1 | ||
| AS 5001 | Actuarial Probability | 3 |
| AS 5101 | Theory of Interest | 3 |
| AS 5102 | Long-Term Actuarial Modeling | 3 |
| AS 5104 | Short-Term Actuarial Modeling | 3 |
| AS 5108 | Actuarial Analytics | 3 |
| BA 5687 | Advanced Professional Development Strategies | 0 |
| RMI 5051 | Managing Risk | 3 |
| Select two (2) from the following: | 6 | |
| Advanced Long-Term Actuarial Modeling | ||
| Advanced Short-Term Actuarial Modeling | ||
| Advanced Actuarial Analytics | ||
| Special Topics in Actuarial Science | ||
| Select one (1) from the following: | 3 | |
| Managing Human Capital Risk | ||
| Managing Property and Liability Risk | ||
| Electives 2 | ||
| Select from the following for a total of three (3) credits: | 3 | |
| Accounting for Managerial and Investment Analysis and Planning | ||
| Introduction to Actuarial Spreadsheets and Programming | ||
| Actuarial Statistics | ||
| Advanced Long-Term Actuarial Modeling | ||
| Actuarial Economics | ||
| Actuarial Corporate Finance | ||
| Advanced Short-Term Actuarial Modeling | ||
| Financial Reporting for Actuaries | ||
| Advanced Actuarial Analytics | ||
| Option Pricing | ||
| Independent Study 3 | ||
| Special Topics in Actuarial Science | ||
| Mentored Research 3 | ||
| Actuarial Internship | ||
| Microeconomic Analysis | ||
| Macroeconomic Analysis | ||
| Econometrics I | ||
| Time Series Econometrics | ||
| Panel Data Econometrics | ||
| Health Systems Organization and Development | ||
| Financial Management of Healthcare Organizations | ||
| Marketing Management/Strategy | ||
| Quantitative Pricing and Revenue Analytics | ||
| Managing Human Capital Risk | ||
| Retirement Plans | ||
| Managing Property and Liability Risk | ||
| Managing International Risk | ||
| Visualization: The Art of Numbers and the Psychology of Persuasion | ||
| Statistical Learning and Data Mining | ||
| Advanced Business Analytics | ||
| Stochastic Processes | ||
| Applied Multivariate Analysis I | ||
| Survival Analysis I | ||
| Nonparametric Methods | ||
| Total Credit Hours | 30 | |
- 1
If the student has passed an actuarial exam prior to taking its corresponding course, the course must be waived:
- Passing the ALTAM exam waives AS 5103 Advanced Long-Term Actuarial Modeling.
- Passing the ASTAM exam waives AS 5114 Advanced Short-Term Actuarial Modeling.
- Passing the FAM-L or LTAM exam waives AS 5102 Long-Term Actuarial Modeling.
- Passing the FAM-S or STAM exam waives AS 5104 Short-Term Actuarial Modeling.
- Passing the FM exam waives AS 5101 Theory of Interest.
- Passing the SRM exam waives AS 5108 Actuarial Analytics.
- Passing the P exam waives AS 5001 Actuarial Probability.
Any waived course is replaced by an elective from the list above. Alternately, students may, on a case-by-case basis, select another course to replace the waived course provided that the course has sufficient academic rigor, is beneficial to the student's career, and is approved by the Academic Director.
- 2
With prior approval from the Academic Director, students may select alternate courses as electives.
- 3
Selection of AS 5182 or AS 5191 requires prior approval from the Academic Director.
Culminating Event: Successful completion of coursework is required to earn the MS degree in Actuarial Science.
Accelerated Programs
Undergraduate students may opt to pursue an accelerated +1 program, enabling them to complete both a bachelor's degree and master's degree in less time than the traditional route.
The accelerated pathway for the Actuarial Science MS is open to all undergraduate students who meet the admissions criteria.
Cohort Code: XMSACSCI
Minimum Cumulative GPA: 3.25
Graduate Courses Approved to Count for Both Undergraduate and Graduate Degrees
| Code | Title | Credit Hours |
|---|---|---|
| AS 5101 | Theory of Interest | 3 |
| AS 5105 | Actuarial Economics | 3 |
| AS 5106 | Actuarial Corporate Finance | 2 |
| RMI 5101 | Managing Human Capital Risk | 3 |
| RMI 5104 | Managing Property and Liability Risk | 3 |
Suggested Academic Plan
| Year 3 | ||
|---|---|---|
| Fall | Credit Hours | |
| AS 5101 | Theory of Interest | 3 |
| Credit Hours | 3 | |
| Spring | ||
| AS 5106 | Actuarial Corporate Finance | 2 |
| Credit Hours | 2 | |
| Year 4 | ||
| Fall | ||
| RMI 5104 | Managing Property and Liability Risk | 3 |
| Credit Hours | 3 | |
| Spring | ||
| RMI 5101 | Managing Human Capital Risk | 3 |
| Credit Hours | 3 | |
| Total Credit Hours | 11 | |
Alternate Suggested Academic Plan
Note: Students without a B- grade or better in microeconomics and/or macroeconomics will take the following curriculum path.
| Year 3 | ||
|---|---|---|
| Fall | Credit Hours | |
| AS 5101 | Theory of Interest | 3 |
| Credit Hours | 3 | |
| Spring | ||
| AS 5105 | Actuarial Economics | 3 |
| Credit Hours | 3 | |
| Year 4 | ||
| Fall | ||
| AS 5106 | Actuarial Corporate Finance | 2 |
| Credit Hours | 2 | |
| Spring | ||
| RMI 5104 or RMI 5101 |
Managing Property and Liability Risk or Managing Human Capital Risk |
3 |
| Credit Hours | 3 | |
| Total Credit Hours | 11 | |
Admissions Criteria
Candidates to the +1 program must:
- meet the general +1 program admissions criteria:
- possess a minimum GPA of 3.25 in at least 45 credits of coursework.
- apply in spring semester of sophomore year. Junior year applicants will be considered for all programs assuming they meet other eligibility criteria.
- be able to complete junior and senior years within four full-time semesters.
- possess 12 credits of elective space to be used for graduate coursework. Candidates with less elective space will be considered with the understanding that they will therefore have more than 18 credits remaining to complete the master's degree.
- be able to complete a graduate degree in the year directly following undergraduate graduation.
- complete three calculus courses with a minimum B- grade in each course.
- complete a probability course (covering discrete and continuous probability distributions) with a minimum B- grade.
- provide two letters of recommendation from Temple faculty.
Application: https://fox.az1.qualtrics.com/jfe/form/SV_a9vvymYpuGaWY8l
Contact Information
Rachel Carr
rachel.carr@temple.edu
Contacts
Program Web Address:
https://www.temple.edu/academics/degree-programs/actuarial-science-ms-bu-as-ms
Department Information:
Fox School of Business and Management
1801 Liacouras Walk
701 Alter Hall (006-22)
Philadelphia, PA 19122
215-204-5890
215-204-7678
Fax: 215-204-1632
Submission Address for Application Materials:
Department Contacts:
Specialized Master’s Programs Coordinator:
Rachel Carr
Senior Associate Director for Specialized Master’s Programs
215-204-7678