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  Academic Programs / Business & Management

Actuarial Science

Department of Risk, Insurance & Healthcare Management

Bonnie Averbach, Associate Professor, Program Director
Ritter Annex 475
215-204-8153
bonnie.averbach@temple.edu
www.temple.edu/actuary

Krupa S. Viswanathan, Assistant Professor
Ritter Annex 471
215-204-6183
krupa.viswanathan@temple.edu

Actuaries are highly-educated business executives who specialize in the evaluation of insurance and financial risks. They hold positions of responsibility with insurance companies, consulting firms, investment banks, self-insurers, government regulators, and government insurance programs. Because of their valuable talents and expertise, actuaries are generally well compensated and often rise to the highest levels of management. While undergraduates, students prepare for and take some of the professional examinations given by the Society of Actuaries and the Casualty Actuarial Society. The material in the first four actuarial exams include calculus-based probability with applications in risk management, theory of interest, actuarial mathematics, finance, and loss distributions.

Students should meet with the program director as soon as they enter the actuarial science program. In addition to their coursework and professional examinations, students are strongly encouraged to become active in the Sigma chapter of Gamma Iota Sigma, Temple's national award-winning professional student organization in Risk Management, Insurance, and Actuarial Science. The organization hosts numerous guest speakers from the industry, sponsors a variety of career development seminars, and maintains a widely-distributed résumé book. For more information, please contact the GIS President, at 215-204-9368, or visit the web site at www.sigmachapter.org.

Summary of Requirements

University Requirements

All students are required to complete a set of university requirements: General Education (GenEd) or Core.

New freshmen starting in the 2008-2009 academic year are required to complete the GenEd curriculum.

New transfer students starting in the 2008-2009 academic year are required to complete the Core curriculum.

College Requirements

Students are strongly encouraged to take the professional actuarial exams immediately after completing the relevant coursework. Students can sit for the Society of Actuaries Exam P/Casualty Actuarial Exam 1 immediately after taking Actuarial Science 2101 or Actuarial Science 2501. Students must meet the College Graduation Requirements including the requirements of the major listed below. Students must attain a 2.0 cumulative GPA and 2.0 in the major to graduate with the actuarial science major. Use the major GPA calculator at www.fox.temple.edu/advising to calculate the GPA in the major.

Major Requirements for new Freshmen starting in academic year 2008-2009

Major Requirements for new Transfer students starting in academic year 2008-2009

 

Requirements of Actuarial Science Major - for Freshmen Only

Department Course # Course Name Hours RCI
Actuarial Science 1501 Introduction to Actuarial Science 3  
Actuarial Science 2502 Theory of Interest 3  
Actuarial Science 3501 Actuarial Modeling I 3  
Actuarial Science 3502 Actuarial Modeling II 3  
Actuarial Science 3596* Casualty Contingencies 3 WI
Subtotal     15  
*This is the major capstone and all prerequisites must be met.

 

Non-Business Required courses

Department Course # Course Name Hours
Math 1041* Calculus I* 4
Math 1042* Calculus II* 4
Math 2043 Calculus III 4
Actuarial Science 2101** Actuarial Probability & Statistics** 3
Statistics 2512** Intermediate Statistics** 3
Subtotal     18
*Math 1041 & 1042 replace the Statistics 1001 & 1102 requirements listed in the Fox School of Business &
Management foundation course requirements. Math 1041 also satisfies the QL requirement for GenEd.
**These courses replace Statistics 2103 in the Fox School of Business & Management foundation course
requirements.

Requirements of Actuarial Science Major - for Transfer Students Only

Required courses      
Department Course # Course Name Hours RCI
Actuarial Science 1501 Introduction to Actuarial Science 3  
Actuarial Science 2501 Basic Actuarial Mathematics 3  
Actuarial Science 2502 Theory of Interest 3  
Actuarial Science 3501 Actuarial Modeling I 3  
Actuarial Science 3502 Actuarial Modeling II 3  
Actuarial Science 3596 Casualty Contingencies 3 WI
Statistics 3503* Intermediate Business Statistics 3  
         
International course – select one: 3  
Economics 3563 International Trade    
Economics 3564 International Monetary Economics    
Finance 3551 International Financial Markets    
Finance 3552 International Financial Management    
GSM 3566 Global Strategic Management    
HR MGMT 3565 International Human Resource Management    
Law S.B.M. 3562 International Law    
Marketing 3553 International Marketing    
         
Economics 3500+** Any upper-level Economics, excluding 3581 0-3  
Business Elective   Select one elective from business dept. 2500+ 0-3  
Subtotal     27  
         
*Satisfies the technology requirement for the major.
**If either Economics 3563 or 3564 is taken to fulfill the Economics upper-level elective, this class will also fulfill the International requirement. You will need to take an additional business elective.     

 

Non-Business Required courses

Department Course # Course Name Hours RCI
Math 1041 Calculus I* 4 QB
Math 1042 Calculus II* 4  
Math 2043 Calculus III 4  
Actuarial Science 2101 Actuarial Probability & Statistics** 3  
Statistics 2512 Intermediate Statistics** 3  
Math 4033 Introduction to Probability Models 3  
Total     21  
         
*Math 1041 & 1042 replace the Statistics 1001 & 1102 requirements listed for Fox School of Business &
Management course requirements.
**Actuarial Science 2101 and Statistics 2512 replace the Statistics 2101 & 2102 requirements listed for
Fox School of Business & Management course requirements.

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