Actuarial Science

Learn more about the Bachelor of Business Administration in Actuarial Science.

Krupa S. Viswanathan, Associate Professor, Program Director
Alter Hall 629
215-204-6183
krupa@temple.edu

https://www.fox.temple.edu/faculty-research/academic-areas/risk-actuarial-science-and-legal-studies/

Located in the Department of Risk, Actuarial Science, and Legal Studies, Temple's Actuarial Science program provides students the opportunity to develop a strong foundation in mathematics and statistics while being exposed to a wide range of business disciplines. Temple's program in Actuarial Science is one of only a few programs designated as a Center of Actuarial Excellence by the Society of Actuaries.

Actuaries specialize in the evaluation of insurance and financial risks. They hold positions of responsibility with insurance companies, consulting firms, investment banks, government regulatory organizations, and government insurance programs. Actuaries must also pass a series of professional exams, administered by the Society of Actuaries and Casualty Actuarial Society, to receive the credential of Associate or Fellow. For more information, see the Licensure/Certification section below.

Students should meet with the Program Director as soon as they enter the Actuarial Science program. In addition to their coursework and professional examinations, students are strongly encouraged to become active in the Sigma chapter of Gamma Iota Sigma, Temple's national award-winning professional student organization in Risk Management, Insurance, and Actuarial Science. The organization hosts numerous guest speakers from the industry, sponsors a variety of career development seminars, and maintains a widely-distributed résumé book. For more information, please contact the GIS President at 215-204-9368 or visit www.sigmachapter.org.

Licensure/Certification

Being credentialed as an actuary is important for advancement in the actuarial profession and to become qualified to offer professional judgement on financial statements. These credentials of Associate and Fellow are national credentials and are recognized internationally as well. There is no state-specific actuarial credentialing or state-specific actuarial exams.

Actuaries must pass a series of professional exams administered by the Society of Actuaries and Casualty Actuarial Society which test the candidate's knowledge in probability, statistics, financial mathematics, insurance contractual design, and insurance company financial operations. Candidates completing a certain set of exams receive the designation of Associate under either society. Beyond that set, candidates completing an additional set of exams receive the designation of Fellow of either society.

Coursework in Temple's Actuarial Science program helps prepare students for several Associateship-level actuarial exams. Students can self-study for additional exams.

An additional component to becoming credentialed as an Associate is completing Validation by Educational Experience (VEE) requirements. Candidates can satisfy these requirements by completing an external course or taking college courses which have been approved by the Society of Actuaries and receiving a minimum grade of B-. Courses in Temple's Actuarial Science curriculum are approved by the Society of Actuaries as satisfying these VEE (Validation by Educational Experience) requirements.

https://www.soa.org/education/exam-req/edu-asa-req/

Summary of Requirements

University Requirements

All new students are required to complete the university's General Education (GenEd) curriculum.

Note that students not continuously enrolled who have not been approved for a Leave of Absence or study elsewhere must follow University requirements current at the time of re-enrollment.

College Requirements

Students are strongly encouraged to take the professional actuarial exams immediately after completing the relevant coursework. Students must meet the College Graduation Requirements for the Bachelor of Business Administration including the requirements of the major listed below. Students must attain a 2.0 cumulative GPA and 2.0 in the major to graduate with the Actuarial Science major.

Major Requirements

Students must follow the Major Requirements and College Requirements current at the time of declaration. Students not continuously enrolled who have not been approved for a Leave of Absence or study elsewhere must follow University, College, and Major requirements current at the time of re-enrollment.

Requirements of Actuarial Science Major

AS 2502Theory of Interest3
AS 2503Actuarial Corporate Finance 13
AS 3501Long-Term Actuarial Modeling3
AS 3503Short-Term Actuarial Modeling 23
AS 3596Actuarial Practice: Property and Liability3
or AS 3597 Actuarial Practice: Group & Health Benefits
Select two of the following courses:6
Advanced Long-Term Actuarial Modeling
Special Topics: Actuarial Science 3
Advanced Short-Term Actuarial Modeling 3
Advanced Actuarial Analytics 3
Managing International Risk
Total Credit Hours21

Non-Business Required Courses

MATH 1041Calculus I 14
MATH 1042Calculus II 14
AS 1501Actuarial Probability 23
AS 2505Actuarial Statistics 23
AS 3504Actuarial Analytics 23
Total Credit Hours17

Suggested Academic Plan

Bachelor of Business Administration in Actuarial Science

Requirements for New Students starting in the 2022-2023 Academic Year

Please note that this plan is suggested only, ensuring prerequisites are met.

Year 1
FallCredit Hours
MATH 1041Calculus I4
ECON 1101Macroeconomic Principles3
HRM 1101Leadership and Organizational Management3
ENG 0802, 0812, or 0902Analytical Reading and Writing [GW]4
GenEd Breadth Course3
 Term Credit Hours17
Spring
MATH 1042Calculus II4
ECON 1102Microeconomic Principles3
BA 1103Legal and Ethical Reasoning in Business3
AS 1501Actuarial Probability3
IH 0851 or 0951Intellectual Heritage I: The Good Life [GY]3
 Term Credit Hours16
Year 2
Fall
ACCT 2103Financial and Managerial Accounting for Decision Making4
AS 2502Theory of Interest3
AS 2505Actuarial Statistics3
RMI 2101Introduction to Risk Management3
IH 0852 or 0952Intellectual Heritage II: The Common Good [GZ]3
Free Elective11
 Term Credit Hours17
Spring
AS 2503Actuarial Corporate Finance3
AS 3504Actuarial Analytics3
BA 2101Professional Development Strategies1
BA 2196Business Communications [WI]3
MKTG 2101Marketing Management3
MIS 2101Digital Systems3
 Term Credit Hours16
Year 3
Fall
MSOM 3101Operations Management3
Select one of the following:23
Turning Numbers into Knowledge: Visualizing Data 
Business Analytics: Modern Data Science Techniques 
AS 3501Long-Term Actuarial Modeling3
Business Elective33
GenEd Breadth Course3
 Term Credit Hours15
Spring
AS 3503Short-Term Actuarial Modeling3
Business Elective33
Free Elective3
Free Elective2
Free Elective2
 Term Credit Hours13
Year 4
Fall
BA 4102Strategic Management3
Select one of the following:3
Actuarial Practice: Property and Liability [WI] 
Actuarial Practice: Group & Health Benefits [WI] 
GenEd Breadth Course3
GenEd Breadth Course3
AS Major Elective #1: choose among the following courses:3
Advanced Long-Term Actuarial Modeling 
Special Topics: Actuarial Science4 
Advanced Short-Term Actuarial Modeling4 
Advanced Actuarial Analytics4 
Managing International Risk 
 Term Credit Hours15
Spring
Business Elective33
GenEd Breadth Course3
GenEd Breadth Course3
GenEd Breadth Course3
AS Major Elective #2: choose among the following courses:3
Advanced Long-Term Actuarial Modeling 
Special Topics: Actuarial Science4 
Advanced Short-Term Actuarial Modeling4 
Advanced Actuarial Analytics4 
Managing International Risk 
 Term Credit Hours15
 Total Credit Hours: 124