Pre-Actuarial Track in the Mathematics B.S. Applied Option DEPARTMENT OF MATHEMATICS 5 Lippitt Road, Room 200 • Kingston, RI 02881 USA p. 401.874.2709 • f: 401.874.4454 e-Mail: [email protected] Website: www.math.uri.edu University of Rhode Island Department of Mathematics Introduction Coursework The BS Applied Option allows a great deal of flexibility in selection of courses. After the basics of 3 semesters of calculus and a semester of linear algebra, you can select courses directed toward the goal of preparing for an actuarial career. You will need to take a year sequence in analysis or advanced calculus, and also the following Math courses and Group I courses as described in the University Catalog: Math Courses: Take MTH-451, MTH-452 and two of the following: MTH-244, MTH-418, and MTH-471. Group I Courses: Take STA-409 or STA-412 and two of the following: ECN-323, ECN-324, ECN-375 or BUS-320, BUS-321, BUS-335, BUS-337. The management of financial risk, which includes the design and implementation of insurance instruments, is the subject of actuarial science. Its practitioners, called actuaries, are employed by insurance companies, government agencies, and financial institutions, and many rise to leadership positions. Actuarial science is highly mathematical and requires excellent mathematics skills together with the mathematical knowledge represented by an undergraduate degree in mathematics. People entering the actuarial profession pass a series of challenging examinations offered by the actuarial professional societies such as the Society of Actuaries, and may also submit specific course work (Validated Educational Experience, VEE) for credit toward membership in one of these societies. Typically, entry-level employment as an actuary is available to those who have passed one or two of the actuarial exams with further exams taken while employed after self-study. The first exam is on probability and the second on financial mathematics. In each case, problems are posed in the context of risk management. For more information see www.beanactuary.org. The Mathematics BS Applied Option at the University of Rhode Island provides a coherent mechanism to prepare for a career in actuarial science for strong mathematics students. The goal of the Pre-Actuarial Track is to prepare you to pass the first actuarial exam, provide a solid foundation for the second and some subsequent exams, provide suitable VEE coursework, and enable you tosuccessfully seek employment as an actuary. Computer Course One course emphasizing programming: CSC-200, CSC-201, CSC-211 or CSC-212. As General Education requirements or as free electives, you should include ECN-201, ECN-202, BUS-201, and BUS-202. Problem Seminar (for Pre-Actuarial Track) To help prepare for the first actuarial exam (Probability), take a 1-credit problem seminar (MTH-393). Minor or Double Major in Business The coursework described in this brochure provides a foundation for a minor in finance, or a double major. Seek advice from the College of Business if you are interested in doing so.