Actuarial Science - A Program in the Department of Mathematical Sciences
- Society of Actuaries Tier - UCAP - Advanced Curriculum (AC)
The Actuarial Science program at Appalachian State provides a foundation in mathematics and business for students wishing to pursue a career in actuarial science or a related field.
Actuarial Science is a cross-disciplinary field whose practitioners use knowledge from:
- Finance, and
to solve problems involving risk assessment and risk mitigation and management. Actuaries create, maintain, and utilize mathematical models to gain insight into these complex problems.
Actuarial education is governed by several actuarial societies. The Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS) sponsor exams that provide methods to evaluate proficiency in various areas of knowledge which form the basis for attaining educational credentials.
The B.S. in Actuarial Science provides coursework covering material for four actuarial exams.
- Exam P/1-Probability
- Exam FM/2-Financial Mathematics
- Exam MFE - Financial Economics
- Exam MLC-Life Contingencies.
Also, the SOA and CAS require validation by education experience (VEE). This is obtained by taking courses in Applied Mathematics, Economics, and Finance that have received approval by the societies in order to receive VEE credit. The B.S. in Actuarial Science at Appalachian includes courses so that upon successful completion (B- or better) of these courses and other educational requirements, the student may petition the SOA to receive VEE credit in all three areas. Students are encouraged to take at least the first two exams and seek summer internships with companies that hire actuaries before graduation. The actuarial science program at Appalachian is recognized by the SOA as belonging to a group of Universities and Colleges with Actuarial Programs offering an Advanced Curriculum (UCAP - AC).
In addition, students completing the major will take their senior seminar from an actuary on staff (FSA) with industry experience. Students will learn to build actuarial models and use them in a decision making process that reflects real-world applications. Students will also get practice communicating their results to a variety of stakeholders consistent with expectations in the corporate world
Students work with a major advisor to plan their path through the curriculum, including selection of approved electives. Students can track their progress to the degree via their Degreeworks worksheet, accessed through Appalnet.
Programs of study for majors are determined by the year a student starts at Appalachian.
Need an advisor? Stop in the department office (342 Walker Hall).
Want to change your major or concentration? The College of Arts and Sciences Program Change Form (online) is used for all changes of major, minor, and concentration.
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