Actuarial Science
The actuarial science major-business program analyzes and quantifies risk using statistics, math and probabilities. Throughout the program, you’ll develop analytical and problem-solving skills for a career in the financial markets, insurance or risk management.
Preparing You For Success
You learn the basics of risk prediction and management as you prepare for actuarial science’s certification exams. Courses prepare you for three exams offered by the Society of Actuaries and Casualty Actuarial Society: P (Probability), FM (Financial Mathematics) and LTAM (Long Term Actuarial Mathematics).
The business actuarial science major is different than the major offered in the College of Liberal Arts and Sciences. Both majors require the same foundational courses, but you take Foster College’s required business core to complete the degree. The business background gives you an understanding of business operations valuable for a career in insurance, investment, financial risk management or employee benefits consulting.
By the time you graduate, your experiences may include:
- Internship opportunities at companies such as Country Financial, RLI, Inc., AIG and Pekin Insurance
- Networking and professional development through Gamma Iota Sigma risk management association, the Financial Management Association and Phi Chi Theta business fraternity
Making Your Mark
Actuarial science majors are valued in any financial setting that requires risk management analysis. In recent years, all Bradley actuarial science majors found jobs or continued to graduate school within six months of graduation. They are working for companies such as State Farm, John Deere, Blue Cross Blue Shield and Willis Towers Watson.
Major Requirements
Required Courses - 30 hrs.
- MTH 121: Calculus I - 4 hrs.
- MTH 122: Calculus II - 4 hrs.
- MTH 223: Calculus III - 4 hrs.
- MTH 207: Elementary Linear Algebra with Applications - 3 hrs.
- MTH 325: Probability and Statistics I - 3 hrs.
- MTH 326: Probability and Statistics II - 3 hrs.
- MTH 335: Topics in Actuarial Science - 3 hrs.
- MTH 335: Topics in Actuarial Science (repeated under different topics) - 3 hrs.
- MTH 427: Applied Statistical Methods - 3 hrs.
Elective Programming Courses (choose one) - 3 or 4 hrs.
- MIS 175: introduction to Developing Business Applications - 3 hrs.
- CS 100: Introduction to Programming Concepts and Languages - 3 hrs.
- CS 101: Introduction to Programming - 4 hrs.
- CIS 102: Introduction to Computer Information Systems with Basic - 3 hrs.
Elective Tools Courses (choose one) - 3 hrs.
- QM 326: Business Forecasting - 3 hrs.
- QM 364: Decision Support Systems - 3 hrs.
- FIN 426: Financial Research and Modeling - 3 hrs.
- ECO 319: Introduction to Econometrics - 3 hrs.
- MTH 435: Stochastic Processes - 3 hrs.
- IME 313: Operations Research 1 - 3 hrs.
Elective Courses (choose three) - 9 hrs.
- ECO 301: Money and Banking - 3 hrs.
- FIN 325: Investment Analysis - 3 hrs.
- FIN 327: Derivatives - 3 hrs.
- FIN 328: Financial Institutions and Markets - 3 hrs.
- FIN 423: Advanced Business Finance - 3 hrs.
- FIN 425: Portfolio Theory - 3 hrs.
- ASB 315: Risk and Insurance - 3 hrs.
Additional Requirements
- All students must sit for at least one professional actuarial exam administered by the Society of Actuaries.
Students must also complete Foster College's business core.
Course Sequence
Sample program plan information is provided for sample purposes only. Students should consult with their academic advisor about their individual plan for course registration and completion of program requirements.
Actuarial Science-Business Course Plan
| First-Year - Fall Semester | ||
|---|---|---|
| MTH 121 | Calculus | 4 hours |
| ATG 157 | Accounting Principles-Financial | 3 hours |
| BUS 100 | Contemporary Business | 3 hours |
| Core Electives | 6 hours | |
| EHS 120 | University Experience | 1 hour |
| Total | 17 hours | |
| First-Year - Spring Semester | ||
|---|---|---|
| ATG 158 | Accounting Principles-Managerial | 3 hours |
| MIS 173 | Business Computer | 3 hours |
| MTH 122 | Calculus II | 4 hours |
| Core Electives | 6 hours | |
| Total | 15-17 hours | |
| Sophomore - Fall Semester | ||
|---|---|---|
| ECO 221 | Microeconomics | 3 hours |
| MTH 223 | Calculus III | 3 hours |
| Core Elective | 3 hours | |
| Global Perspectives Course | 3 hours | |
| Actuarial Science Programming Course | 3 hours | |
| Total | 15 hours | |
| Sophomore - Spring Semester | ||
|---|---|---|
| FIN 322 | Business Finance | 3 hours |
| MTH 207 | Linear Algebra | 3 hours |
| ECO 222 | Macroeconomics | 3 hours |
| Core Elective | 3 hours | |
| Total | 15 hours | |
| Junior - Fall Semester | ||
|---|---|---|
| MTH 325 | Probability and Statistics I | 3 hours |
| Actuarial Science Elective | 3 hours | |
| M L 350 | Managing for Results in Organizations | 3 hours |
| ENG 306 | Business Communication | 3 hours |
| Actuarial Science Tools Course | 3 hours | |
| Total | 15 hours | |
| Junior - Spring Semester | ||
|---|---|---|
| MTH 326 | Probability and Statistics II | 3 hours |
| MTH 335 | Topics in Actuarial Science | 3 hours |
| BLW 342 | Legal Environment of Business | 3 hours |
| MTG 315 | Principles of Marketing | 3 hours |
| Actuarial Science Elective | 3 hours | |
| Total | 15 hours | |
| Senior - Fall Semester | ||
|---|---|---|
| MTH 335 | Topics in Actuarial Science II | 3 hours |
| Business Elective | 2 hours | |
| M L 452 | Strategic Management in Organizations | 2 hours |
| BUS 400 | Client Consulting Project | 2 hours |
| Actuarial Science Elective | 3 hours | |
| Elective | 3 hours | |
| Total | 15 hours | |
| Senior - Spring Semester | ||
|---|---|---|
| Actuarial Science Elective | 3 hours | |
| MTH 427 | Applied Statistical Methods | 3 hours |
| Electives | 9 hours | |
| Total | 15-16 hours | |
Actuarial Science-Math Course Plan
| First-Year - Fall Semester | ||
|---|---|---|
| MTH 121 | Calculus | 4 hours |
| ATG 157 | Accounting Principles-Financial | 3 hours |
| ECO 100 or 221 | Introduction to Economics or Principles of Microeconomics | 3 hours |
| Core Electives | 6 hours | |
| Total | 16 hours | |
| First-Year - Spring Semester | ||
|---|---|---|
| MTH 122 | Calculus II | 4 hours |
| ECO 222 | Principles of Macroeconomics | 3 hours |
| Electives | 9 hours | |
| Total | 16 hours | |
| Sophomore - Fall Semester | ||
|---|---|---|
| MTH 223 | Calculus III | 3 hours |
| MTH 207 | Elementary Linear Algebra With Applications | 3 hours |
| FIN 322 | Business Finance | 3 hours |
| Electives | 6 hours | |
| Total | 15 hours | |
| Sophomore - Spring Semester | ||
|---|---|---|
| MTH 325 | Probability and Statistics I | 3 hours |
| CS 100 or 101 | Introduction to Programming Concepts or Introduction to Programming | 3-4 hours |
| Electives | 9 hours | |
| Total | 15-16 hours | |
| Junior - Fall Semester | ||
|---|---|---|
| MTH 335 | Topics in Actuarial Science | 3 hours |
| MTH | Elective | 3 hours |
| IME 313 | Operations Research I | 3 hours |
| Electives | 7 hours | |
| Total | 16 hours | |
| Junior - Spring Semester | ||
|---|---|---|
| MTH 326 | Probability and Statistics II | 3 hours |
| FIN 325 | Investment Analysis | 3 hours |
| IME 314 | Operations Research II | 3 hours |
| Electives | 6 hours | |
| Total | 15 hours | |
| Senior - Fall Semester | ||
|---|---|---|
| MTH 335 | Topics in Actuarial Science II | 3 hours |
| MTH | Elective | 3 hours |
| Electives | 9 hours | |
| Total | 15 hours | |
| Senior - Spring Semester | ||
|---|---|---|
| MTH 427 | Applied Statistical Methods | 3 hours |
| Finance 425 or 426 | Portfolio Theory and Management or Financial Research and Modeling | 3 hours |
| Electives | 9 hours | |
| Total | 15 hours | |