Course of Study—Bachelor 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 , �ǰ�����(�ǰ���),��, and  (or equivalent).�������Ի��� are equivalent to ,��, and . 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 . 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����. The College of Letters & Science requires that students attain at least a 2.0 GPA on all credits in the major attempted at 51����. In addition, students must attain a 2.0 GPA on all major credits attempted, including any transfer work.

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Majors must complete one of the following sequences or its equivalent; for example, one equivalent sequence is & . For approval see the Actuarial Science advisor.

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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 (,��), computer science (,��), and expand their knowledge in economics (, ).��

Professional Development

For future advancement in the field of actuarial science, “Validation by Educational Experience” (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:

Courses taken at other universities may be used to meet the VEE requirement of the SOA/CAS.

Admission to this minor requires a minimum grade point average of 2.5 in MATH 231, 232, and 233 (or equivalent). These three courses do not count in the minor GPA. Students who have completed these courses with the required grade point average may complete a formal declaration of minor at the department office.

Requirements

Students must complete at least 9 upper-division (numbered 300 and above) credits for the minor in residence at 51����. The College of Letters & Science requires that students attain at least a 2.0 GPA on all credits in the minor attempted at 51����. In addition, students must attain a 2.0 GPA on all minor credits attempted, including any transfer work.

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Admission to the minor requires a minimum GPA of 2.500 in these courses or an equivalent course sequence. Students who have completed these courses with the required GPA may complete a formal declaration of minor at the department office. These courses do not count in the minor GPA.

²

 should be completed with a grade of B- or better.

Declare your minor using the “Declare a Minor” button on the Actuarial Science website and a faculty advisor will contact you.

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Credits and Courses

The minimum degree requirement is 33 credits. In order to graduate, the following requirements must be completed:

Students who have completed program courses for undergraduate credit should discuss alternative graduate-level courses to substitute for those courses in their programs of study.

Thesis

A thesis is not required for the actuarial science option. Rather, students must pass three departmental written proficiency exams, which are based on the learning objectives of the actuarial professional exams P, FM and one of FAM, ALTAM, ASTAM. Waivers for departmental exams are granted for students who have passed the corresponding professional exams.

Professional Development

For future advancement in the field of actuarial science, “Validation by Educational Experience” (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:

Courses taken at other universities may be used to meet the VEE requirement of the SOA/CAS.

In order to be considered for admission to the graduate program, candidates must complete the .

Students with undergraduate degrees in mathematics, statistics, actuarial science, economics or a related area are eligible for admission. Applicants should have a strong mathematical background that includes three semesters of calculus, linear algebra, probability, and mathematical statistics. Students lacking this background may be admitted provided that the deficiencies amount to no more than two courses. Although not required, having one actuarial professional exam passed would be an asset.

Information about submission of transcripts, GPA requirements, and English proficiency can be found on the Graduate School website. The application will request that you provide your intended course of study and the names and e-mail addresses of three (3) references who have agreed to provide letters of recommendation.

The Department of Mathematical Sciences encourages, but does not currently require submission of general GRE scores. GRE Mathematics subject test scores are appreciated, but also not required.

Applications for the MS Mathematics: Actuarial Science program are accepted for a fall start only.

Prospective students interested in visiting the Department of Mathematical Sciences are encouraged to contact the Associate Chair for the Graduate Program to arrange a visit.

Teaching and Research Assistantships are the primary form of financial support for mathematics graduate students. These positions provide a salary and tuition remission. Some small scholarships are also available. Click below for more details.

Credits and Courses

Minimum degree requirement is 54 graduate credits beyond the bachelor’s degree, at least 27 of which must be earned in residence at 51����. In addition, at least half of the credits earned toward the degree must be in courses numbered 700 or above. 

The student, in consultation with the major professor, must select both a primary and a secondary area of specialization. The primary area may be chosen from one of the following seven fields:

Transcript Designated Concentrations

Applied Mathematics Field

Probability and Statistics Field

Actuarial Science Field

NOTE: Admission to this program is limited to students who have made significant progress towards and are close to achieving a professional designation from an internationally recognized actuarial organization.

Non-Transcript Designated Specializations

Algebra Field

Analysis Field

Topology Field

Industrial Mathematics Field

The secondary area may be chosen from another of these fields or may be chosen from another appropriate department. Minimum course requirements for all work in both areas of specialization require approximately two full years of study.

Additional Requirements

Major Professor as Advisor

The student must have a major professor to advise and supervise the student’s studies as specified in Graduate School regulations. The entering graduate student is assigned a temporary advisor by the Department Graduate Program Coordinator.

Computer Proficiency

The student shall pass an examination on a higher programming language and/or other appropriate advanced computer skills; the examinations are administered by the Department’s Computer Committee. The Computer Committee may accept advanced computer science coursework in lieu of the examination.

Residence

The student must meet minimum Graduate School residence requirements.

Doctoral Preliminary Examination

When the student is sufficiently prepared — normally when the student has earned 24 credits in specified areas above the 800 level — a doctoral preliminary examination to determine the student’s knowledge and achievement is taken. For students in mathematics, the exam evaluates the student’s general knowledge of mathematics, as well as the student’s knowledge of the major area of concentration. Students must pass this examination to continue in the program. With permission of the examination committee, the student may repeat this examination once. If the student does not have a master’s degree in mathematics before this examination, the committee will determine whether the student’s performance is sufficient to qualify for the master’s degree.

Doctoral Dissertation Proposal Hearing

After passing the language requirements and the doctoral preliminary examination, the student participates in a doctoral dissertation proposal hearing. At this hearing, the student is examined on the student’s chosen area of research and a dissertation topic is approved.

Dissertation

The primary requirement for the PhD in mathematics is the candidate’s completion, under the supervision of the Department advisor, of an original and significant mathematical investigation presented in the form of a dissertation. The investigation is to be in the field of algebra, analysis, applied mathematics, probability and statistics, topology, or actuarial science. A dissertation for the industrial mathematics field must involve an industrial problem requiring a mathematical solution.

Dissertation Defense

The candidate must, as the final step toward the degree, present a colloquium based on the dissertation and must pass an oral examination in defense of the dissertation. If the candidate does not successfully defend a thesis within five years of admission to candidacy, the candidate may be required to take another doctoral preliminary examination and be readmitted to candidacy.

Time Limit

All degree requirements must be completed within ten years from the date of initial enrollment in the doctoral program. Note that students seeking the PhD are limited to a maximum of seven years, inclusive of time spent in pursuit of an initial MS degree, of departmental financial support.

Minor Area for Other PhD Majors

A doctoral student planning a physical science major other than mathematics may fulfill requirements for mathematics as the minor area of concentration by completing 12 credits of approved mathematics courses with a grade of B or better, at least 6 credits of which must be in courses 800 or above.

A doctoral student planning a non-physical science major may fulfill requirements for mathematics as the minor area of concentration by completing 12 credits with a grade of B or better in approved mathematics courses 300 or above.

For additional information on the PhD, see the Graduate School Doctoral Requirements���貹����.

In order to be considered for admission to the graduate program, candidates must complete the .

A master’s degree is not a prerequisite for admission to this PhD program, but strong applicants will typically have a bachelor’s or master’s degree in math, actuarial science, statistics or related topic with a minimum background of three semesters of calculus, linear algebra, probability, and mathematical statistics.

Information about submission of transcripts, GPA requirements, and English proficiency can be found on the Graduate School website. The application will request that you provide your intended course of study and the names and e-mail addresses of three (3) references who have agreed to provide letters of recommendation.

The Department of Mathematical Sciences encourages, but does not currently require submission of general GRE scores. GRE Mathematics subject test scores are appreciated, but also not required.

Prospective students interested in visiting the Department of Mathematical Sciences are encouraged to contact the Associate Chair for the Graduate Program to arrange a visit.

Deadlines

Admissions are made on a rolling basis, so there are no hard deadlines. Nevertheless, most offers of Teaching assistantships, Research Assistantships, and Fellowships are made during the spring for students who will begin their studies the following fall. In order to maximize chances of obtaining the best possible financial aid package it is recommended that the applications be completed by the end of January. Later applicants with good credentials will be considered for admission and financial aid subject to availability.

Teaching and Research Assistantships are the primary form of financial support for mathematics graduate students. These positions provide a salary and tuition remission. Some small scholarships are also available. Click below for more details.