PRE-ACTUARIAL SCIENCE

Actuarial science is the study of the evaluation and measurement of risk. The pre-actuarial science option is a pre-professional program designed to provide the background needed to enter the field.

Career Opportunities

Actuaries, originally only found in insurance companies, have found expanded employment opportunities in investment planning, pension fund management, government and health care planning. A recent assessment by Jobs Rated Almanac found that actuaries have the best job in America.

Actuarial Examinations

Entrance into the profession is regulated by a system of examinations run by actuarial professional societies. In the United States, these are the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS). Satisfactory performance on these examinations leads to the qualifications of associate and eventually fellow of these societies, as well as the possibility of additional professional qualifications. The pre-actuarial science option is a re-professional program in actuarial science designed to prepare students to pass several of these examinations. For details of the examinations, students are strongly encouraged to examine the SOA Associateship and Fellowship Catalog and the CAS Syllabus of Examinations for current information. The most up-to-date information may be found on the websites of the SOA (www.soa.org) and the CAS (www.casact.org).

Actuarial Information

The Department of Mathematics maintains a resource center with information on the actuarial profession. Copies of the current course and examination syllabi of the societies, sample examinations and the mathematical foundations of actuarial science are available. Also available are copies of The Actuary, the SOA newsletter, Risks and Rewards, the newsletter of the investment section of the SOA, as well as other official publications of professional actuarial societies.

The Program

The nature of the actuarial profession requires its practitioners to have a broad knowledge of finance, law, mathematics, management and statistics. The curriculum provides for the completion of a double major in mathematics and statistics with the potential for a minor in economics. The course work is closely tied to the examination structure of the societies. Nevertheless, students should regularly consult the syllabi of the societies to ascertain exactly the material covered on the examinations.

Students are encouraged to visit with both the actuarial advisor of the Department of Mathematics and the actuarial advisor of the Department of Statistics early and often to confirm their progress and to stay informed of changes in the examination curriculum.

Examination Preparation Courses

The course Actuarial Exam Study (Math. 376) is intended to provide both guidance and study opportunity to the student preparing to take actuarial examinations. This course is only offered on the pass/fail grading scheme and may be repeated for credit. Interested students should contact the actuarial advisor in the Department of Mathematics.

The Department of Statistics also offers the course Actuary Exam Study II (Stat. 476). Passing the first exam before graduation will be helpful in finding an entry-level position as an actuary.

Option Requirements

Students are advised to verify that the University general education requirements and the College of Science and Mathematics requirements are met in addition to the major requirements. Refer to The Bulletin and consult with the actuarial advisor in the Department of Mathematics for further information.

Sample Curriculum

This sample curriculum is not intended to serve as a curriculum guide for current students, but rather an example of course offerings for prospective students. For the curriculum requirements in effect at the time of entrance into a program, consult with an academic advisor or with the Office of Registration and Records.

Contact Information

Department of Mathematics
North Dakota State University
Minard Hall 412
Dept #2750
PO Box 6050
Fargo, ND 58108-6050

Tel: (701) 231-8171
Fax: (701) 231-7598
Email: NDSU.Math@ndsu.edu
Web: www.math.ndsu.nodak.edu

Office of Admission

North Dakota State University
Ceres 114
Dept 5230, PO Box 6050
Fargo, ND 58108-6050

Tel: (701) 231-8643
Fax: (701) 231-8802
Email: NDSU.Admission@ndsu.edu
Web: www.ndsu.edu/admission/

(09/12)