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Apr 25, 2024
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2022-2023 Undergraduate Catalog [ARCHIVED CATALOG]
Actuarial Science, B.A.
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The Actuarial Science Program is housed in the Department of Mathematics in the Division of Mathematics and Computer Science. Communication with faculty in the Departments of Business Economics and Computer Science is ongoing. This program is specifically designed to prepare students for a career as an actuary. However, combined with the UMF liberal arts education, students completing this major have a broad foundation that will prepare them for many different mathematical, statistical, and business-oriented careers.
We will aim to:
- increase the number of highly qualified students entering careers in actuarial and actuarial-related fields, especially those who are educated in Maine.
- promote the development and use of statistics, probability, decision-making, and risk management.
- support collaboration with and integration of other disciplines regarding topics in actuarial science.
- prepare students for the Society of Actuaries and the Casualty Actuarial Society professional examinations.
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Requirements (60 Total Credits)
Economics Courses (8 Hours)
Business Courses (16 Hours)
Technology Courses (4 Hours)
World Language Requirement
For specific information about world language requirements and expectations, see the General Education Requirements in the Academic Programs section of this catalog.
General Education Requirements
For specific information about general education requirements and expectations, see the General Education Requirements in the Academic Programs section of this catalog.
Minimum Total of Credits for The Degree: 128
Learning Goals and Assessment
Learning Goals:
Students will:
- acquire a strong general background in mathematics, statistics, business, and economics.
- develop analytical and problem solving skills.
- develop technological skills that are current in the actuarial field.
- be prepared to pass the first two national actuarial examinations administered by the Society of Actuaries and the Casualty Actuarial Society.
- communicate effectively both orally and in writing.
- work effectively in teams.
Assessment Criteria:
Students will:
- demonstrate an understanding of the fundamental probability tools for quantitatively assessing risk and demonstrate an ability to apply these tools to problems encountered in actuarial science.
- demonstrate an understanding of the fundamental concepts of financial mathematics and demonstrate an ability to apply these tools to problems encountered in actuarial science.
- demonstrate an understanding of technologies that are current in the actuarial field and demonstrate an ability to apply these tools to problems encountered in mathematics, statistics, business, and economics.
- demonstrate the ability to summarize and communicate, orally and in writing, actuarial problems and the ability to communicate solutions to actuarial problems to specialized and non-specialized audiences.
- demonstrate an ability to establish rapport in groups and be able to work both independently and in collaboration with others.
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