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Preparing for a Career in the Actuarial Sciences
A Guide for Applied Mathematics and Statistics Majors

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What courses should I take?

Actuaries draw on many different skills in their professional life. These include:

• mathematics, especially probability and statistics,
• economics, business, and finance,
• computing, and
• written and oral communication.

A broad, well-rounded education drawing from the humanities as well as the social and natural sciences is highly desirable. Furthermore, many actuaries work with health care professionals; consequently, a background in the life sciences is useful.

The normal sequence of courses for Applied Mathematics and Statistics majors provide excellent preparation for an actuarial career. In particular, students should take:

• Three semesters of Calculus: 110.108-109 or AP Calculus BC, plus 110.202 or 110.211-212.
• Linear Algebra: any of 550.291, 110.201, or 110.211-212.
• Probability and Statistics: we recommend 550.420-430. Students may take either 550.310 or 550.311 before taking 420/430. This may enable them to sit for the first actuarial examination sooner.
• Optimization: 550.361. Not required for the first two actuarial exams, but this course is required for the Applied Mathematics and Statistics major.
• Macro- and microeconomics: 180.101-102 at a minimum, with 180.301-302 preferred.
• Financial Mathematics: 550.331 and Investment Science: 550.442.

Various courses from the department's Entrepreneurship and Management program are highly recommended, such as 551.203, 551.204, and 551.302.

The following is a sample program that provides an ideal background for a prospective actuary. This plan is designed so that students can attempt the first actuarial exam during May of their Sophomore year, with a possible retake during November of their Junior year. They will be ready for the second exam by May of the Junior year.