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  Academic Programs / Business & Management

Actuarial Science

Department of Risk, Insurance & Healthcare Management

Bonnie Averbach, Associate Professor, Program Director
Alter Hall 627
215-204-8153
bonnie.averbach@temple.edu
www.temple.edu/actuary

Krupa S. Viswanathan, Assistant Professor
Alter Hall 629
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 2009-2010 academic year are required to complete the GenEd curriculum.
  • New transfer students starting in the 2009-2010 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 Freshmen

Suggested Sequence for Freshmen

Major Requirements for Transfers

Suggested Sequence for Transfers

 

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 Quantitative Literacy (GQ)
requirement for GenEd.
**These courses replace Statistics 2103 in the Fox School of Business & Management foundation course
requirements.

 

Suggested Sequence of Actuarial Science Major - For Freshmen Only

Please note that this sequence is suggested only, ensuring prerequisites are met. Students' academic sequences may differ based on individual academic plans.

Semester I - Fall
Department Course # Course Name Hours RCI
Mathematics 1041 Calculus I {waives GenEd GQ requirement} 4  
English 0802, 0812 or 0902 Analytical Reading & Writing 4 GW
Economics 1101 Macroeconomic Principles 3  
HR MGMT 1101 Organization & Management 3  
GenEd 08xx or 09xx GenEd Breadth Course 3  
Subtotal     17  
 
Semester II - Spring
Department Course # Course Name Hours RCI
IH 0851 or 0951 Mosaic: Humanities Seminar I 3 GY
Mathematics 1042 Calculus II 4  
Economics 1102 Microeconomic Principles 3  
Law S.B.M. 1101 Legal Environment of Business 3  
Actuarial Science 1501 Introduction to Actuarial Science 3  
Subtotal     16  
 
Semester III - Fall
Department Course # Course Name Hours RCI
IH 0852 or 0952 Mosaic: Humanities Seminar II 3 GZ
MIS 2101 Information Systems in Organizations 3  
Actuarial Science 2502 Theory of Interest 3  
Accounting 2101 Financial Accounting 3  
Mathematics 2043 Calculus III 4  
Subtotal     16  
 
Semester IV - Spring
Department Course # Course Name Hours RCI
Accounting 2102 Managerial Accounting 3  
BUS ADM 2101 Professional Development Strategies 1  
BUS ADM 2196 Business Communications 3 WI
Actuarial Science 2101 Actuarial Probability & Statistics 3  
RSK MGT 2101 Introduction to Risk Management 3  
GenEd 08xx or 09xx GenEd Breadth Course 3  
Subtotal     16  
 
Semester V - Fall
Department Course # Course Name Hours RCI
Finance 3101 Financial Management 3  
Statistics 2512 Intermediate Statistics 3  
Actuarial Science 3501 Actuarial Modeling I 3  
Marketing 2101 Marketing Management 3  
GenEd 08xx or 09xx GenEd Breadth Course 3  
Subtotal     15  
 
Semester VI - Spring
Department Course # Course Name Hours RCI
BUS ADM 3103 Integrative Business Applications 3  
MSOM 3101 Operations Management 3  
Free Elective   Free Elective (MATH 4033: Introduction to Probability
Theory
is recommended)
3  
IBA 3101 Fundamentals of International Business 3  
Actuarial Science 3502 Actuarial Modeling II 3  
Subtotal     15  
 
Semester VII - Fall
Department Course # Course Name Hours RCI
BUS ADM 4196 Global Business Policies 3 WI
Actuarial Science 3596 Casualty Contingencies (fall only) 3 WI
BUS ADM 3102 Business Society & Ethics 3  
Free Elective   Free Elective (Statistics 3503: Intermediate Business
Statistics
is recommended)
3  
GenEd 08xx or 09xx GenEd Breadth Course 3  
Subtotal     15  
 
Semester VIII - Spring
Department Course # Course Name Hours RCI
GenEd 08xx or 09xx GenEd Breadth Course 3  
GenEd 08xx or 09xx GenEd Breadth Course 3  
GenEd 08xx or 09xx GenEd Breadth Course 3  
Free Elective     3  
Free Elective     2  
Subtotal     14  
 
Total credits for the B.B.A. in Actuarial Science (freshmen): 124  

 


Requirements of Actuarial Science Major - for Transfer Students Only

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  
         
Economics 3500+** Any upper-level Economics, excluding 3581 0-3  
Business Elective   Select one elective from business dept. 2500+ 0-3  
         
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    
         
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.

 

Suggested Sequence of Actuarial Science Major - For Transfer Students Only

Please note that this sequence is suggested only, ensuring prerequisites are met. Students' academic sequences may differ based on individual academic plans.

Semester I - Fall
Department Course # Course Name Hours RCI
CORE   TILT Tutorial 0  
English 0802, 0812 or 0902 Analytical Reading & Writing 4 CO/GW
Mathematics 1041 Calculus I 4 QB
LAW S.B.M. 0856 Law & American Society 3 AC/GU
C+IN SC 1055 Computers & Applications 4 SB
CORE   Core Area 3 AR/IS/RS
Subtotal     18  
 
Semester II - Spring
Department Course # Course Name Hours RCI
IH 0851 or 0951 Mosaic: Humanities Seminar I 3 IA/GY
Mathematics 1042 Calculus II 4  
Economics 1101 Macroeconomic Principles 3 IN
CORE   Core Area 3 AR/IS/RS
Actuarial Science 1501 Introduction to Actuarial Science 3  
Subtotal     16  
 
Semester III - Fall
Department Course # Course Name Hours RCI
IH 0852 or 0952 Mosaic: Humanities Seminar II 3 IB/GZ
Economics 1102 Microeconomic Principles 3 IN
Mathematics 2043 Calculus III 4  
Actuarial Science 2502 Theory of Interest 3  
Accounting 2101 Financial Accounting 3  
Subtotal     16  
 
Semester IV - Spring
Department Course # Course Name Hours RCI
RSK MGT 2101 Introduction to Risk Management 3  
HR MGMT 1101 Organization & Management 3  
Marketing 2101 Marketing Management 3  
Actuarial Science 2101 Actuarial Probability & Statistics 3  
Accounting 2102 Managerial Accounting 3  
Subtotal     15  
 
Semester V - Fall
Department Course # Course Name Hours RCI
Finance 3011 Introduction to Financial Markets 3  
BUS ADM 2101 Professional Development Strategies 1  
BUS ADM 3102 Business Society & Ethics 3  
CORE   Core Area 3 AR/IS/RS
Actuarial Science 3501 Actuarial Modeling I 3  
STOC 1111 Public Speaking 3  
Subtotal     16  
 
Semester VI - Spring
Department Course # Course Name Hours RCI
Finance 3101 Financial Management 3  
CORE   Core Area 3 AR/IS/RS
Statistics 2512 Intermediate Statistics 3  
Actuarial Science 2501 Basic Actuarial Mathematics 3  
Actuarial Science 3502 Actuarial Modeling II 3  
Subtotal     15  
 
Semester VII - Fall
Department Course # Course Name Hours RCI
MSOM 3101 Operations Management 3  
Free elective     3  
Economics 3500+   3  
Actuarial Science 3596 Casualty Contingencies (fall only) 3 WI
Select one of the following International Courses: 3  
Economics
Economics
Finance
Finance
GSM
HR MGMT
Law S.B.M.
Marketing
3563
3564
3551
3552
3566
3565
3562
3553
International Trade
International Monetary Economics
International Financial Markets
International Financial Management
Global Strategic Management
International Human Resource Management
International Law
International Marketing
   
Subtotal     15  
 
Semester VIII - Spring
Department Course # Course Name Hours RCI
BUS ADM 4196 Global Business Policies 3 WI
Mathematics 4033 Introduction to Probability Theory 3  
Statistics 3503 Intermediate Business Statistics 3  
CORE   Science & Technology 4 SA
Subtotal     13  
 
Total credits for the B.B.A. in Actuarial Science (transfer students): 123  


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