Actuarial Science

College: Arts and Sciences
Degree: BS or BA
Specialized Admission: No

Description of Major

*Please Note: Face-to-face/in-person instruction of this program is available ONLY at the main campus in Tallahassee, FL. This program is NOT available via Online/Distance Learning.*

This interdisciplinary degree provides broad instruction in the mathematical and statistical concepts underlying the operations of life, property and casualty insurers, governmental agencies, and consulting and financial firms. Along with strong mathematical and computational skills, the program is designed to enhance leadership ability and communication skills. The program is also flexible enough to provide background for graduate or professional study in many areas. It was the first actuarial program in a state university in Florida and has many graduates well placed in the industry. It is classified by the professional actuarial societies as "advanced undergraduate education" and "graduate education and research."

Note: Prospective transfer students should contact as-admissions@fsu.edu (Arts & Sciences Admissions) with specific questions about admission and mapping requirements.

Prerequisite Coursework

State of Florida Common Program Prerequisites
The state of Florida has identified common program prerequisites for this University degree program. Specific prerequisites are required for admission into the upper-division program and must be completed by the student at either a community college or a state university prior to being admitted to this program.

Prerequisite Coureswork:
COP XXXX (3) A scientific programming course designed for computer science majors
ECO X013 (3) Principles of Macroeconomics
ECO X023 (3) Principles of Microeconomics
MAC X311 (4) Calculus with Analytic Geometry I
MAC X312 (4) Calculus with Analytic Geometry II
MAC X313 (5) Calculus with Analytic Geometry III

A “C” grade or better in all coursework is required for admission.

Students are strongly encouraged to select required lower division electives that will enhance their general education coursework and that will support their intended baccalaureate degree program. Students should consult with an academic advisor in their major degree area.

Note: State-wide common prerequisites are always under review. For the most current information and for acceptable alternative courses, visit the “Common Prerequisites Manual.” This is available from the “Student Services” section of http://www.flvc.org .

In addition, the department recommends that the following course be taken during the freshman/sophomore years:
ACG X021 (3) Introduction to Financial Accounting

Requirements

Requirements for graduation in the College of Arts and Sciences include:
The College of Arts and Science requires proficiency in a foreign language through the intermediate (2220 or equivalent) level or sign language through the advanced (2614 or equivalent) level.

Requirement for Progression to and Continuation in the Upper-Division Major:
A final grade of “C minus” or better is required in all courses to be counted toward these degrees. Upon formal admission to the major, a student must not accumulate more than 2 unsatisfactory grades (grades below a "C minus" or grades of "U") in courses required for the major, excluding State Common Program Prerequisites listed as Term 1 - 4 Milestones, taken after enrolling in FSU. In addition, Actuarial Science majors must also maintain a GPA of 2.50 for all major and collateral courses and State Common Program Prerequisites listed as Term 5-8 Milestones. For actuarial science, it also includes the collateral courses with prefixes ACG, ECO, FIN, RMI, or STA. Exceptions to this policy require a petition to the department.

Major Program of Studies at FSU: (45-46 hours)
In addition to prerequisite coursework noted above, the following coursework is required. A minor in business is incorporated; hence an additional minor is not required.

Required Mathematics and Statistics: (15 hours)
MAP 4170 (4) Introduction to Actuarial Mathematics
MAP 4175 (4) Actuarial Models
STA 4321 (3) Introduction to Mathematical Statistics
MAP 4174 (1, 1, 1, 1) Actuarial Topics

Required Business Collateral Minor: (12 hours)
ACG 2021 (3) Introduction to Financial Accounting
FIN 3403 (3) Financial Management of the Firm
RMI 3011 (3) Risk Management and Insurance
FIN 4504 (3) Investments

Additional Course Requirements: (18-19 hours)
Completion of the program should be planned with an academic advisor, with regard to the student’s background and goals. Students must complete six courses from the following three specialized areas: two courses from specialized mathematics and statistics, one course from approved insurance, finance, and economics, one course from other math and statistics, and two additional courses from any of the three categories. Course options can be found on the department webpage: https://www.math.fsu.edu/~paris/actscimajor.math.

Digital Literacy: (3 hours)
COP 3014 (3) Programming I (should be taken as part of prerequisites) fulfills this requirement for the major.

Oral Communication Competency: (0-3 hours)
Students must demonstrate the ability to orally transmit ideas and information clearly. This requirement may be met with a University approved college-level course.

Minimum Program Requirements ­Summary:
Total Hrs. Required 120
General Education 36*
Prerequisite Coursework 22*
Major Coursework 45-46
Foreign Language 0-12 (depending on placement)
Digital Literacy 0 beyond prerequisites
Oral Competency 0-3
Electives to bring total hours to 120

*Prerequisite coursework in mathematics and economics should also be used to satisfy requirements of Liberal Studies.

Mapping
Mapping is FSU’s academic advising and monitoring system. Academic progress is monitored each Fall and Spring semester to ensure that students are on course to earn their degree in a timely fashion. Transfer students must meet mapping guidelines to be accepted into their majors.

Remarks
1. A minimum of 45 hours at the 3000 level or above, 30 of which must be taken at this University.
2. Half of the major course semester hours must be completed in residence at this University.
3. The final 30 hours must be completed in residence at this University.
4. Students who plan to earn the B. A. degree must complete a foreign language through the intermediate (2200 or equivalent) level and nine additional hours in the fields of history and humanities.

Employment Information
Salary Information: For more information go to: National Association of Colleges and Employers (www.naceweb.org) or the Occupational Outlook Handbook (www.bls.gov/ooh/home.htm) provided by the U.S. Bureau of Labor Statistics.

Representative Job Titles Related to this Major: Actuary, Actuarial Student, Analyst, Actuarial Specialist, Financial Consultant.

Representative Employers: Insurance, Consulting, and Financial Firms, Governmental Agencies.