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| The actuarial science program prepares students for
careers as business executives specialized in the evaluation and
assessment of financial risk. The program is recognized by the
Society of Actuaries (SOA) as an "Advanced Undergraduate Program"
and is among the best in the nation for the number of SOA exams
passed by students. With an exceptional faculty, internship
program, and students, Maryville's Actuarial Science program is one
of the premier programs in the country. |
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The profession of actuary is consistently ranked among the top
professions using criteria such as income, security, employment
prospects, and work environment. The U.S. Department of Labor
projects a growing need for actuaries in coming years. The
rise in terrorism is also expected to increase the need for experts
in risk assessment and management. Maryville's graduates have
enjoyed excellent career opportunities with 100% job placement over
the past three years.
The Maryville University Actuarial Science Program offers a
curriculum that integrates liberal arts
with professional studies in business and mathematics, and leads to
a Bachelor of Science degree
with a major in Actuarial Science. Maryville University is one of
the few schools in the nation that
offer a comprehensive degree program in Actuarial Science.
Prospective applicants should have a high aptitude and solid
background in mathematics and an interest in the world of business
and finance. An ACT sub-score in mathematics of at least 26
is required for entrance into the program. The major is highly
interdisciplinary in content, requiring
a total of 57 hours from general mathematics, statistics, actuarial
mathematics, business, economics
and finance.
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Financial Aid/Scholarships
The actuarial science curriculum maintains special
scholarship awards through the generous support
of the General American Life Insurance Company, the St. Louis
Actuaries Club and the Saint Louis actuarial community. New
applicants to the program are eligible to apply for the Margot
Pallmann Scholarship for Actuarial Science. In addition, Maryville
offers four-year Presidential, Trustee, and Alumni scholarships and
Academic Promise Awards to students who qualify. Detailed
information on Maryville’s financial aid/scholarship program can be
obtained by contacting the Financial Aid Office (314) 529-9360.
| The Actuarial
Exam System |
As of 2005, the Society of
Actuaries has revised its examination structure for the
first four courses (each course corresponds to one exam
offered). Detailed information regarding this redesign can
be obtained from the Society's website. One of the most
significant changes in the curricula is that some of the
requirements for Associateship must be met through taking
approved course work - VEE Validated by Education Experience
Subjects. Maryville University, as one of the Society of
Actuaries' plot groups, offers courses such as ACSC 405,
ACSC 416, ECON 201, and ECON 202, which have been approved
by the VEE Administration Committee to fulfill the
requirements of topics in Corporate Finance, Economics, and
Applied Statistical Methods.
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The Maryville Actuarial Science undergraduate curriculum is
designed to coordinate with the first four actuarial exams jointly
sponsored by the Society of Actuaries and Casualty Actuarial
Society. See the following tables for the specific courses in the
major and how they relate to the professional exams.
|
Professional Exams |
|
Exam P |
|
Exam FM |
| |
MATH 151 |
Calculus I |
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ACCT 210 |
Financial
Accounting |
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MATH 152 |
Calculus II |
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ECON201 |
Macroeconomics |
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MATH 251 |
Calculus III |
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ECON202 |
Macroeconomics |
| |
ACSC 305 |
Insurance and
Risk |
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ACSC 414 |
Theory of Interest |
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ACSC/MATH 370 |
Mathematical
Statistics I |
|
|
ACSC 415 |
Financial Mathematics I |
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ACSC/MATH 371 |
Mathematical
Statistics II |
|
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ACSC 416 |
Financial Mathematics II |
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ACSC/MATH 372 |
Mathematical
Statistics III |
|
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ACSC 495 |
Seminar for Exam II |
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ACSC 394 |
Seminar for Exam I |
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Exam M |
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Exam C |
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ACSC 421 |
Actuarial
Modeling I |
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ACSC/MATH 371 |
Mathematical Statistics II |
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ACSC 422 |
Actuarial
Modeling II |
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ACSC/MATH 405 |
Statistical Modeling I |
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ACSC 510 |
Risk Theory |
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ACSC/MATH 406 |
Statistical Modeling II |
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ACSC 497 |
Special Studies |
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ACSC 497 |
Special Studies |
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Actuarial Science as a Career
Actuaries are individuals who apply mathematical techniques to solve
problems in insurance, finance and other related fields. They come
into contact with every aspect of the insurance industry and must
possess strong mathematical skills and solid practical and
theoretical business backgrounds to apply their technical knowledge.
They are responsible for determining rates and premiums on insurance
policies and forecasting future events affecting the soundness of
insurance programs. Some actuaries work with consulting firms as
advisors to corporations regarding their insurance and pension
programs. Government agencies, such as the Social Security
Administration, employ actuaries. Most actuaries specialize in
either life and health insurance, or property and liability
insurance. A large number specialize in pension plans.
According to The Jobs Rated Almanac from the publishers of
The World Almanac, actuarial science was ranked as the "number
one job" in the nation when compared to 250 careers judged
on the following combined criteria: work environment, income, stress
level, security, physical demands, and employment opportunities
(outlook). Approximately one-half of all actuaries work for
insurance companies, one-third in independent consulting firms, and
the rest in federal and state government, corporations, and
universities.
Career Preparation
The Career Management Office provides resources and guidance in
helping students research and apply for employment and internships.
Workshops are offered to aid students in the development of
interviewing techniques, résumé writing, and self-generated job
seeking skills. Student résumés and company profiles are maintained
in computer and internet databases in order to facilitate effective
job searches. In addition, career opportunities are available
through on-campus recruitment sessions with major employers. Each
February Maryville University hosts an Actuarial Science Career Day
in which actuarial employers from a large number of local and
regional companies spend a half-day on campus, talking to students
and exploring opportunities in an informal setting.
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Bachelor
of Science in Actuarial Science
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| Required Courses: |
Credits |
|
General Education
Requirements |
48 |
| ACCT 210 Financial Accounting |
3 |
| ECON 201 Macroeconomics |
3 |
| ECON 202 Microeconomics |
3 |
| MATH 251 Calculus III |
4 |
| ACSC/MATH 201 Math Modeling w/Technology
I |
3 |
| ACSC/MATH 301 Math Modeling w/Technology
II |
3 |
| ACSC 305 Insurance and Risk |
3 |
| MATH 316 Applied Linear Algebra |
3 |
| ACSC/ECON 325 Intermediate
Microeconomics |
3 |
| ACSC/MATH 370 Mathematical Statistics I |
3 |
| ACSC/MATH 371 Mathematical Statistics II |
3 |
| ACSC/MATH 405/505 Statistical Modeling I
|
3 |
| ACSC/MATH 406/506
Statistical Modeling II |
3 |
| ACSC 414 Theory of Interest |
3 |
| ACSC 415 Financial Mathematics I |
3 |
| ACSC 416 Financial Mathematics II |
3 |
| ACSC/421/521 Actuarial Modeling I |
3 |
| ACSC 422/522 Actuarial Modeling II |
3 |
| ACSC 394 Seminar for Actuarial Exam I |
3 |
| ACSC 495 Seminar for Actuarial Exam II |
3 |
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| Elective Courses |
|
| ACSC 293/393/493 Cooperative Education |
variable
credit |
| ACSC 296/396/496 Independent Studies |
variable
credit |
| ACSC 297/397/497 Special Studies |
variable
credit |
| ACSC/MATH 372 Mathematical Statistics
III |
3 |
| ACSC 510 Risk Theory |
3 |
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