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/departments/risk-insurance-healthcare-management/

Located in the Department of Risk, Insurance, and Healthcare Management, 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 1501Actuarial Probability and Statistics I3
AS 2502Theory of Interest3
AS 2503Corporate Finance for Actuarial Science 13
AS 3501Actuarial Modeling I3
AS 3502Actuarial Modeling II 23
AS 3504Actuarial Analytics3
AS 3596Actuarial Practice: Property and Liability3
or AS 3597 Actuarial Practice: Group & Health Benefits
RMI 3567Managing International Risk 33
Total Credit Hours24

Non-Business Required Courses

MATH 1041Calculus I 14
MATH 1042Calculus II 14
MATH 2043Calculus III4
AS 2101Actuarial Probability and Statistics II 23
STAT 2512Intermediate Statistics 23
Total Credit Hours18

Suggested Academic Plan

Bachelor of Business Administration in Actuarial Science

Requirements for New Students starting in the 2021-2022 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
LGLS 1101Legal Environment of Business3
AS 1501Actuarial Probability and Statistics I3
IH 0851 or 0951Intellectual Heritage I: The Good Life [GY]3
 Term Credit Hours16
Year 2
Fall
MATH 2043Calculus III4
ACCT 2101Financial Accounting3
RMI 2101Introduction to Risk Management3
AS 2502Theory of Interest3
IH 0852 or 0952Intellectual Heritage II: The Common Good [GZ]3
 Term Credit Hours16
Spring
ACCT 2102Managerial Accounting3
MIS 2101Digital Systems3
BA 2101Professional Development Strategies1
BA 2196Business Communications [WI]3
AS 2101Actuarial Probability and Statistics II3
AS 2503Corporate Finance for Actuarial Science3
 Term Credit Hours16
Year 3
Fall
MKTG 2101Marketing Management3
STAT 2512Intermediate Statistics3
MSOM 3101Operations Management3
AS 3501Actuarial Modeling I3
Select one of the following:3
Actuarial Practice: Property and Liability [WI] 
Actuarial Practice: Group & Health Benefits [WI] 
 Term Credit Hours15
Spring
BA 3103Integrative Business Applications3
BA 3102Business Society and Ethics3
AS 3502Actuarial Modeling II3
AS 3504Actuarial Analytics3
RMI 3567Managing International Risk3
 Term Credit Hours15
Year 4
Fall
BA 4101Global Business Policies3
GenEd Breadth Course3
GenEd Breadth Course3
GenEd Breadth Course3
Free Elective (AS 2504 recommended)3
 Term Credit Hours15
Spring
GenEd Breadth Course3
GenEd Breadth Course3
GenEd Breadth Course3
Free Elective (AS 3503 recommended)3
Free Elective2
 Term Credit Hours14
 Total Credit Hours: 124