# Actuarial Science Minor

Catalog Year

Degree

Total Credits

Locations

Career Cluster

## Program Requirements

### Core

Choose 16 Credit(s).

### MATH 121 Calculus I 4 credits

Limits, continuity, the derivative and applications, transcendental functions, L'Hopital's Rule, and development of the Riemann integral.

Prerequisites: Satisfy Placement Table in this section, MATH 115 or both MATH 112 and MATH 113 with "C" (2.0) or better.

Goal Areas: GE-04

### MATH 122 Calculus II 4 credits

Techniques of integration, applications of integration, improper integrals, numerical integration, the calculus of parametric curves, and infinite series and sequences.

Prerequisites: MATH 121 with "C" (2.0) or better or consent

### MATH 354 Concepts of Probability & Statistics 4 credits

A calculus based introduction to probability and statistics. Topics include probability, random variables, probability distributions (discrete and continuous), joint probability distributions (discrete and continuous), statistical inference (both estimation and hypothesis testing), confidence intervals for distribution of parameters and their functions, sample size determinations, analysis of variance, regression, and correlation. This course meets the needs of the practitioner and the person who plans further study in statistics. Same as MATH 354. Fall, Spring, Summer

Prerequisites: MATH 122 with "C" (2.0) or better or consent

### MATH 461 Mathematical Theory of Interest 4 credits

This course covers all the topics in the mathematical theory of interest of the Society of Actuaries Exam FM/2. Topics include time value of money, measurement of interest, annuities certain, arithmetic and geometric annuities, amortization schedules and sinking fund, bonds and other securities, yield rates, and interest rate immunization.

Prerequisites: MATH 122 with C (2.0) or better or consent.

### Restricted Electives

Mathematics & Statistics - Choose 3 Credit(s).

### MATH 460 Actuarial Applications in Probability 3 credits

This course applies probabilistic methods to problems encountered in actuarial science that prepares students for the Society of Actuaries Exam P/1.

Prerequisites: (MATH 354, STATS 354, MATH 455 or STAT 455) and MATH 223

### STAT 450 Regression Analysis 3 credits

Simple and multiple linear regression, model adequacy checking and validation, identification of outliers, leverage and influence, polynomial regression, variable selection and model building strategies, nonlinear regression, and generalized linear regression.

Prerequisites: MATH 354 / STAT 354 or STAT 455 with "C" (2.0) or better or consent

### STAT 458 Categorical Data Analysis 3 credits

Forms of multivariate analysis for discrete data, two dimensional tables, models of independence, log linear models, estimation of expected values, model selection, higher dimensional tables, logistic models and incompleteness. Logistic regression. Suitable statistical software is introduced, for example, MATLAB, R, SAS etc.

Prerequisites: Either MATH/STAT 354 or both MATH 121 and STAT 154 with "C" (2.0) or better, or consent.

Accounting & Finance - Choose 3 Credit(s).

### ACCT 200 Financial Accounting 3 credits

The accounting process, financial statement preparation, and analysis. Includes the accounting cycle, asset, liability, and equity accounting. Emphasis on the use of accounting data.

Prerequisites: MATH 112 or MATH 115or MATH 121 or MATH 130 or MATH 181

### FINA 362 Business Finance 3 credits

An introduction to finance relating to problems, methods, and policies in financing business enterprise.

Prerequisites: ACCT 200

### FINA 460 Investments 3 credits

Formulation of investment policy of individuals and institutions, factors influencing the values of securities, and techniques of portfolio selection and management.

Prerequisites: FINA 362

### Unrestricted Electives

Along with the courses (MATH 354, ACCT 200 & FINA 362), the following courses satisfy aspects the VEE (Validation of Educational Experience) of the professional societies associated to actuarial science. Students taking these additional courses may apply them towards becoming certified in the three areas of the VEE: economics, mathematical statistics, and accounting and finance.

### ECON 201 Principles of Macroeconomics 3 credits

Emphasis on forces influencing employment and inflation. Current problems of the economy are stressed along with tools government has to cope with them.

Prerequisites: none

Goal Areas: GE-05

### ECON 202 Principles of Microeconomics 3 credits

Examines decision making by the individual firm, the determination of prices and wages, and current problems facing business firms.

Prerequisites: none

Goal Areas: GE-05