Actuarial Science, B.B.A.

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Return to: 7210 Department of Risk Management and Insurance

Actuaries have been called financial architects and social mathematicians because of their unique blend of analytical and business skills in the insurance and financial services industry, as consultants in firms that specialize in employee benefits and pensions, in the government sector, and in a variety of other roles. The job of an actuary has routinely been ranked by publications such as Forbes, Business Week and CNCB as one of the ten highest paying jobs in the U.S. A career as an actuary is also touted as one of the most satisfying careers in terms of the “work-life” balance.

To be recognized as a qualified actuary, a person should become a member of the Society of Actuaries or the Casualty Actuarial Society. Admission to membership is obtained by passing a series of examinations given by the societies. The actuarial science program at Georgia State University is structured so that students are well prepared to pass these examinations at the completion of the program and, thereby, be extremely competitive on the job market. The tremendous demand for such highly trained persons makes a career in this area very rewarding financially and in providing the satisfaction that comes from membership in a well-recognized profession. In order to meet the critical shortage of actuarial personnel in this region, the Southeastern Actuaries Club endorsed the establishment of the actuarial program at Georgia State University as part of the university’s comprehensive insurance educational activity. The program continues to have the strong support of the actuarial profession. Inquiries concerning the actuarial profession or the details of the program at Georgia State University should be directed to the department.

Program Admission

There are no admission requirements specific to the Actuarial Science program. However, Actuarial Science students are required to meet all University and College admission requirements.

Program Financial Information

There are no special fees associated with majoring in Actuarial Science. However, Actuarial Science majors must pay all tuition and fees charged by the University and the College.

Program Academic Regulations

Degree Requirements

It is highly recommended that new actuarial science majors consult with their major adviser at their earliest convenience so that an efficient program can be constructed in accordance with the unique nature of the actuarial science major and course scheduling requirements.

MATH 2215 - Multivariate Calculus 4 Credit Hours must be completed with a grade of C- or higher.

Required Major Courses

AS 3230 - Financial Mathematics 3 Credit Hours
AS 4140 - Probability 3 Credit Hours
AS 4320 - Loss Models and Credibility 3 Credit Hours
AS 4340 - Life Contingencies I 3 Credit Hours
AS 4350 - Life Contingencies II 3 Credit Hours
or
AS 4360 - Ratemaking and Loss Reserving 3 Credit Hours
AS 4510 - Derivative Valuation and Risk Management 3 Credit Hours
RMI 4680 - Regression Modeling 3 Credit Hours
RMI 4990 - The Risk Analysis Clinic 3 Credit Hours

Other Required Courses

MATH 4752 and FI 4090 must be taken in place of Junior/Senior Business electives, and MATH 2212 and MATH 2215 must be taken in place of Junior/Senior electives. For students with appropriate mathematics background, MATH 2211 should be taken in core area A in place of MATH 1111 (college algebra) or in place of MATH 1113 (precalculus) in core Area D. Students who make one or both of these substitutions will choose one or two junior/senior electives, as appropriate. MATH 4751 should be taken in place of MGT 3100 in the junior business core. MATH 2215 must be completed with a grade of C or higher.