Master of Arts in Mathematics with Specialization in Actuarial Science


Program Rationale:

The Master of Arts in Mathematics with Specialization in Actuarial Science provides students with an understanding of the mathematical foundations of actuarial work and the professional development process. Consistent with this, the program provides course work which covers a substantial portion of the material on the first four examinations of the Society of Actuaries and the Casualty Actuarial Society. Students are encouraged to begin taking professional exams during their course of study. In conjunction with this, students are exposed to complementary disciplines, such as applied statistics or data mining.


Program Learning Outcomes:

Learning outcomes are consistent with those of the North American actuarial societies and the International Actuarial Association. Students in this program will be expected to:

  • construct both deterministic and stochastic valuation models;
  • have a working knowledge of insurance and financial instruments, including derivatives; and
  • estimate both parametric and nonparametric models for frequency and severity and use the models to estimate the distribution of total losses and the probability of ruin.
Course and Capstone Requirements
(30 credits):
(Plans A, B and C are offered as options.)
The student and faculty advisor will work out an appropriate plan of study within the framework of the following requirements.
Requirements:
Actuarial Core (8 credits): Actl 565 and 566
Additional courses as approved by the advisor, including:
  1. 9 credits chosen from ACTL 480, 481, 482, 580,
  2. 9 credits designated STAT or MATH at the 400 or 500 level, and
  3. 1-4 additional credits in actuarial science, mathematics, or statistics.
No more than nine credits in the program may be earned in 400-level courses.


Capstone:

Plan A: Thesis (Math 599, 6 credits) with 27 credits of course work

Plan B: Comprehensive Exam with 30 credits of course work

Plan C: Special Project in Mathematics (MATH 590, 3 credits) with 30 credits of course work

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