Degree Requirements

The Department of Mathematical Sciences offers the Bachelor of Arts degree in Actuarial Science. The actuarial science major is an interdisciplinary program intended to prepare students for professional examinations and employment as actuaries.

In addition to the requirements for the major, students must also satisfy all of the university general education requirements and the College of Letters & Science breadth and other degree requirements. Degree requirements will vary depending on when you took your first college class. You are strongly advised to consult both the actuarial science advisor and your L&S advisor to ensure you stay on track towards a degree. Read more about the degree requirements on the L&S Degree Requirements web pages.

To clarify any degree requirements, please contact the Director of Actuarial Science.

Actuarial Science Major Requirements

Preparatory Curriculum

Students must complete a Calculus Sequence: MATH 231 (or MATH 213), MATH 232, and MATH 233 (or equivalent). MATH 221 and MATH 222 are equivalent to MATH 231MATH 232, and MATH 233. 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 ACTSCI 599. Students must obtain consent of the instructor to enroll in ACTSCI 599.

Requirements 

Students must complete the courses listed below, including at least 15 upper-division (numbered 300 and above) credits in the major in residence at UWM. The College of Letters & Science requires that students attain at least a 2.0 GPA on all credits in the major attempted at UWM. In addition, students must attain a 2.0 GPA on all major credits attempted, including any transfer work.

Additional Preparatory Curriculum
ACTSCI 290Introduction to Actuarial Science3
MATH 234Linear Algebra and Differential Equations4
COMPSCI 250Introductory Computer Programming3
COMPSCI 251Intermediate Computer Programming3
BUS ADM 201Introduction to Financial Accounting4
ECON 103Principles of Microeconomics3
ECON 104Principles of Macroeconomics3
Core Curriculum
ACTSCI 391Investment Mathematics I4
MTHSTAT 361Introduction to Mathematical Statistics I3
MTHSTAT 362Introduction to Mathematical Statistics II3
BUS ADM 350Principles of Finance3
or BUS ADM 450 Intermediate Finance
ACTSCI 490Introduction to Actuarial Practice1
ACTSCI 491Actuarial Workshop I1
ACTSCI 492Actuarial Workshop II1
MATH 571Introduction to Probability Models3
ACTSCI 591Investment Mathematics II3
ACTSCI 599Capstone Experience1
Select One of the Following Two Pairs:6
ACTSCI 593
ACTSCI 594
Actuarial Models I
and Actuarial Models II
ACTSCI 596
ACTSCI 597
Actuarial Statistics I
and Actuarial Statistics II
Select two of the following four courses:6
MTHSTAT 563
Regression Analysis
MTHSTAT 564
Time Series Analysis
MTHSTAT 566
Computational Statistics
MTHSTAT 568
Multivariate Statistical Analysis
Total Credits58

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 ACTSCI 590. Students also should take courses in business communication (COMMUN 105ENGLISH 205), computer science (COMPSCI 351COMPSCI 557), and expand their knowledge in economics (ECON 325, ECON 450). 

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:

MTHSTAT 361Introduction to Mathematical Statistics I (VEE-Mathematical Statistics)3
MTHSTAT 362Introduction to Mathematical Statistics II (VEE-Mathematical Statistics)3
ECON 103Principles of Microeconomics (VEE-Economics)3
ECON 104Principles of Macroeconomics (VEE-Economics)3
BUS ADM 201Introduction to Financial Accounting (VEE-Accounting and Finance)4
BUS ADM 450Intermediate Finance (VEE-Accounting and Finance)3

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