Actuarial Science, BA BA
51猎奇 undergraduate students can major in actuarial science in the College of Letters & Science. Students are exposed to multi-disciplinary coursework in mathematics, statistics, economics, business, and computer programming. By taking full advantage of coursework, advising, and professional development opportunities, students can grow into attractive job candidates.聽
Program Type
Major
Program Format
On Campus
Why study Actuarial Science at 51猎奇?
- You love solving complex problems and explaining the solution to others.
- You want a career that consistently ranks in the top 10 for salary, job satisfaction, stress level, and job security.
- You want to join a program with a strong network of professional actuaries who engage with and mentor students – and often hire them when they graduate!
- Milwaukee and the surrounding area are home to many companies that hire actuaries – Northwestern Mutual, American Family, Milliman, Willis Towers Watson, and more.
Course of Study鈥擝achelor of Arts Degree
To clarify any degree requirements, please contact the undergraduate coordinator for Actuarial Science.
Actuarial Science Major Requirements
Students who intend to complete the BA in Actuarial Science program in four years will need to begin taking mathematics in their first semester. Such students should have a University of Wisconsin-Milwaukee mathematics placement level of 30 (ready for precalculus) or better.
Preparatory Curriculum
Students must complete one of Calculus Sequences: and , 辞谤听听(辞谤听),听, and聽聽(or equivalent).听听补苍诲听聽are equivalent to聽,听, and聽. Students majoring in actuarial science must have an average GPA of at least 2.500 in these courses. Additional preparatory curricula are required, as listed below.
Capstone Experience
Students must complete a Capstone Experience. The aim of the capstone experience is to encourage independent learning. Students complete a research paper in the context of this course, which satisfies the L&S research requirement. For Actuarial Science majors, the capstone is聽.聽Students must obtain consent of the instructor to enroll in .
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Students must complete the courses listed below, including at least 15 upper-division (numbered 300 and above) credits in the major in residence at 51猎奇. The College of Letters & Science requires that students attain at least a 2.0 GPA on all credits in the major attempted at 51猎奇. In addition, students must attain a 2.0 GPA on all major credits attempted, including any transfer work.
| Code | Title | Credits |
|---|---|---|
| Preparatory Curriculum | ||
| Preparatory Calculus sequence 1 | 8-12 | |
Majors must achieve a GPA of at least 2.500 in the Calculus sequence to complete the degree. | ||
&补尘辫;听 | Survey in Calculus and Analytic Geometry I and Survey in Calculus and Analytic Geometry II | |
&补尘辫;听 &补尘辫;听 | Calculus and Analytic Geometry I and Calculus and Analytic Geometry II and Calculus and Analytic Geometry III 2 | |
| Additional preparatory coursework | ||
| Introduction to Actuarial Science | 3 | |
| Linear Algebra and Differential Equations | 3-4 | |
| 辞谤听 | Matrices and Applications | |
| Introductory Computer Programming | 4 | |
| Intermediate Computer Programming | 4 | |
| Introduction to Financial Accounting | 4 | |
| Principles of Microeconomics | 3 | |
| Principles of Macroeconomics | 3 | |
| Core Curriculum | ||
| Investment Mathematics I | 4 | |
| Introduction to Mathematical Statistics I | 3 | |
| Introduction to Mathematical Statistics II | 3 | |
| Principles of Finance | 3 | |
| 辞谤听 | Intermediate Finance | |
| Introduction to Actuarial Practice | 1 | |
| Actuarial Workshop FM | 1 | |
| Actuarial Workshop P | 1 | |
| Capstone Experience | 1 | |
| Actuarial Models I | 3 | |
| Actuarial Statistics I | 3 | |
| Actuarial Models II | 3 | |
| 辞谤听 | Actuarial Statistics II | |
| Regression Analysis | 3 | |
| Time Series Analysis | 3 | |
| Multivariate Statistical Analysis | 3 | |
| Select one of the following three courses: | 3 | |
| Investment Mathematics II | ||
| Introduction to Probability Models | ||
| Computational Statistics | ||
| Total Credits | 70-75 | |
- 1
Majors must complete one of the following sequences or its equivalent; for example, one equivalent sequence is & . For approval see the Actuarial Science advisor.
- 2
may be replaced by in this sequence.
Recommended Electives
To achieve the best preparation for an actuarial career, students actively should pursue internship opportunities with insurance companies, consulting firms, and other organizations that require actuarial science knowledge. Once such an opportunity is secured, the student should enroll in . Students also should take courses in business communication (,听), computer science (,听), and expand their knowledge in economics (, ).听
Professional Development
For future advancement in the field of actuarial science, 鈥淰alidation by Educational Experience鈥� (VEE) credits are required. VEE credits may be earned from the Society of Actuaries (SOA) and Casualty Actuarial Society (CAS) with a grade of B- or better in the following courses:
| Code | Title | Credits |
|---|---|---|
| Introduction to Mathematical Statistics II (VEE-Mathematical Statistics) | 3 | |
| Principles of Microeconomics (VEE-Economics) | 3 | |
| Principles of Macroeconomics (VEE-Economics) | 3 | |
| Introduction to Financial Accounting (VEE-Accounting and Finance) | 4 | |
| Intermediate Finance (VEE-Accounting and Finance) | 3 |
Courses taken at other universities may be used to meet the VEE requirement of the SOA/CAS.
Students considering a major in Actuarial Science need to come to the department to declare their major and be assigned a faculty advisor. All courses selected for the major must be approved by the advisor, and since required courses are not offered every semester or year, students should check regularly with their advisors to plan their courses of study in order to finish in a coherent and timely fashion.
Letters & Science Advising
During your time at 51猎奇, you may have multiple members of your success team, including advisors, peer mentors and success coaches. Letters & Science students typically work with at least two different types of advisors as they pursue their degrees: professional college advisors and faculty advisors. L&S college advisors advise across your entire degree program while departmental faculty advisors focus on the major.
College advisors are located in Holton Hall (or virtually for online students) and serve as your primary advisor. They are your point person for your questions about navigating college and completing your degree. College advisors will:
- Assist you in defining your academic and life goals.
- Help you create an educational plan that is consistent with those goals.
- Assist you in understanding curriculum, major and degree requirements for graduation, as well as university policies and procedures.
- Provide you with information about campus and community resources and refer you to those resources as appropriate.
- Monitor your progress toward graduation and completion of requirements.
Faculty advisors mentor students in the major and assist them in maximizing their development in the program. You will begin working with a faculty advisor when you declare your major. Faculty advisors are an important partner and will:
- Help you聽understand major requirements and course offerings in the department.聽
- Explain opportunities for internships and undergraduate research and guide you in obtaining those experiences.
- Serve as an excellent resource as you consider potential graduate programs and career paths in your field.
Students are encouraged to meet with both their college advisor and faculty advisor at least once each semester. Appointments are available in-person, by phone or by video.聽
Currently enrolled students should use the 聽to make an appointment with your assigned advisor or call (414) 229-4654 if you do not currently have an assigned Letters & Science advisor.聽Prospective students who haven't enrolled in classes yet should call (414) 229-7711 or email聽let-sci@uwm.edu.
Honors in the Major
Students in Actuarial Science who meet all of the following criteria can be awarded honors in the major upon graduation:
- A 3.000 cumulative GPA in all 51猎奇 graded credits;
- A 3.500 GPA over all 51猎奇 courses counting toward the Actuarial Science major;
- A 3.500 GPA over all upper-division 51猎奇 courses counting toward the Actuarial Science major; and
- The passing of at least three professional actuarial exams.
Students who believe they may qualify for honors in Actuarial Science should apply to the Mathematical Sciences Department during their last semester of study.
College of Letters and Science Dean's Honor List
GPA of 3.750 or above, earned on a full-time student's GPA on 12 or more graded credits in a given semester.
Honors College Degree and Honors College Degree with Distinction
Granted to graduating seniors who complete Honors College requirements, as listed in the聽聽section of this site.
Commencement Honors
Students with a cumulative GPA of 3.500 or above, based on a minimum of 40 graded 51猎奇 credits earned prior to the final semester, will receive all-university commencement honors and be awarded the traditional gold cord at the December or May Honors Convocation. Please note that for honors calculation, the GPA is聽not聽rounded and is truncated at the third decimal (e.g., 3.499).
Final Honors
Earned on a minimum of 60 graded 51猎奇 credits: Cum Laude - 3.500 or above; Magna Cum Laude - 3.650 or above; Summa Cum Laude - 3.800 or above.