Bachelor of Science in Actuarial Science
Actually, what is an Actuary? Actuaries are professionals who find ways to manage risk. Actuaries use analytical/math skills, business knowledge, and understanding of human behavior to evaluate the likelihood of future events and design creative ways to reduce the probability of bad outcomes. It is one of the top-ranked jobs and a well-compensated business profession not only nationally but also internationally. Actuaries work in the insurance industry as well as for consulting companies, financial institutions, government, labor unions, etc.
What to Expect:
- Society of Actuaries UCAP Advanced Status: Arcadia University’s Bachelor of Science in Actuarial Science provides course coverage for four SOA preliminary exams (Probability, Financial Math, Short Term Actuarial Mathematics, Statistics for Risk Modeling) and approved courses for all Validation by Educational Experience (VEE) topic areas through the Society of Actuaries. Being a UCAP Advanced Status program provides Arcadia’s students with extra benefits like exam fee reimbursements and free study materials for some students.
- Flexibility: Students who decide not to pursue the actuarial exam track can pursue related fields such as statistical programming, teaching and accounting. The Actuarial Science program offers a variety of courses, majors and minors that compliment each person’s individual interests. Our faculty are dedicated to helping students find non-exam track positions in actuarial and insurance firms, as well as related fields.
- Professional Faculty: Arcadia’s Actuarial Science faculty stem from diverse professional and academic backgrounds including an FSA Certified actuary with over 25 years of experience in the industry, as well as professors with PhDs in statistics and actuarial science. The Actuarial Science program works closely with an advisory board of local practicing actuaries to connect students with the professional world.
- Career Opportunities: There is a high demand for Arcadia graduates by local firms. Recent graduates were hired at Aon, WTW, LTCG, MunichRe, Independence Blue Cross, TransAmerica, Penn Mutual Insurance. Arcadia hosts an annual Actuarial Science Career Fair that is focused solely on job opportunities in the Actuarial Science field.
Investigate further techniques of one-variable calculus, including techniques of integration, and infinite series.
Learn the steps in the accounting cycle leading up to the preparation and analysis of financial statements. The focus of the course is on how accounting provides information to users so they can then make more informed decisions. Specific topics include asset and equity measurement, income determination, cash flow and working capital.
Practice a problem-solving approach to the mathematical theory and practice of interest. Much of the class time is spent solving problems similar in scope and level of difficulty to those in the actuarial exam on Financial Mathematics,
Examine a study of combinatorics, discrete and continuous random variables of one and two dimensions, expectations, commonly used probability models, and normal approximation.