An actuary is a business professional who analyzes the financial consequences of risk and uncertainty. They interpret statistics to determine probabilities of accidents, sickness, death, and loss of property from theft and natural disasters. Actuaries use mathematics, statistics and financial theory to study uncertain future events, especially concerning risk management and insurance programs. Actuaries are considered the “financial architects” of the insurance world.
We offer courses that will help you prepare for the actuarial exams offered by the Society of Actuaries and the Casualty Actuarial Society. These courses include Probability and Statistics I & II (P Exam), Theory of Interest (FM Exam), Mathematics for Finance (IFM Exam), Loss Models I & II (STAM Exam), Life Contingencies I & II (LTAM Exam), and Applied Regression Analysis and Applied Time Series & Forecasting (SRM Exam). We also offer courses that will allow you to satisfy other requirements in the actuarial credentialing process.
| Program Requirements | Quarter Hours |
|---|---|
| Liberal Studies Requirements | 72 |
| Major Requirements | 96 |
| Open Electives | 24 |
| Total hours required | 192 |
Learning Outcomes
Students will be able to:
- Describe the risk management process and explain how insurance is used to protect against risk.
- Apply the laws of probability and statistics to problems encountered by actuaries.
- Use the theory of interest to evaluate financial instruments and manage assets and liabilities.
- Analyze financial derivatives contracts and identify their risk-mitigation features.
College Core Requirements
Modern Language Requirements
Students who intend to graduate with the Bachelor of Arts (BA) degree will be required to demonstrate competence in a modern language equivalent to the proficiency attained from one year of college-level language study. Such competence may be demonstrated in one of several ways:
- completing the last course in the fourth-year high school sequence of any language
- completing the last course in the first-year college sequence of any language
- completing a college course beyond the first-year level in any language
- achieving a satisfactory score on any of the Modern Language placement examinations administered at DePaul
- achieving a satisfactory rating in a proficiency examination accepted by DePaul
- achieving a score of 3 or higher on the Advance Placement (AP) test for any language
- achieving a score of 5 or higher in the Language B assessment from a Standard or Higher Level International Baccalaureate (IB) program
- achieving a satisfactory score on the CLEP examination
Please note: Modern Languages courses with an E-designation are taught in English and may not be applied to the Modern Language Requirement.
For further information regarding satisfactory scores and possible credit from the DePaul placement, AP, CLEP, or IB examinations, please contact Student Records.
Students who complete an Inter-College Transfer (ICT) to the College of Science and Health will abide by the College of Science and Health Modern Language Requirement in place on the effective date of the ICT.
BA students who meet College requirements and wish to pursue further work in the language may elect the “Modern Language Option” of the Liberal Studies Program. While Bachelor of Science (BS) students are not required to demonstrate competency in a modern language, the “Modern Language Option” is available to them for language study at any level. Modern Languages courses with an E-designation are taught in English and may not be applied to the Modern Language Option.
Major Declaration Requirements
All students in the College are required to declare a major field prior to beginning their junior year. After researching College programs, the student should declare a major field by visiting Campus Connection and using the Declarations and Inter-College Transfer tool. The student will then be assigned a faculty advisor or staff advisor in the department or program and should make an appointment to see that advisor at his or her earliest convenience.
To change major fields, or to declare a minor or concentration, the student must use the Declarations and Inter-College Transfer tool described above. However, for the purpose of exploring the possibility of changing a major field, the student should consult an academic advisor in the College or an academic advisor in the Office for Academic Advising Support.
Liberal Studies Requirements
Honors program requirements can be found in the individual Colleges & Schools section of the University Catalog. Select the appropriate college or school, followed by Undergraduate Academics and scroll down.
| First Year Program | Hours | |
|---|---|---|
| Chicago Quarter | ||
| LSP 110 or LSP 111 | DISCOVER CHICAGO or EXPLORE CHICAGO | 4 |
| Focal Point | ||
| LSP 112 | FOCAL POINT SEMINAR | 4 |
| Writing | ||
| WRD 103 | COMPOSITION AND RHETORIC I 1 | 4 |
| WRD 104 | COMPOSITION AND RHETORIC II 1 | 4 |
| Quantitative Reasoning | ||
| Not Required | ||
| Sophomore Year | ||
| Race, Power, and Resistance | ||
| LSP 200 | SEMINAR ON RACE, POWER, AND RESISTANCE | 4 |
| Junior Year | ||
| Experiential Learning | ||
| Required | 4 | |
| Senior Year | ||
| Capstone | ||
| BUS 392 | SENIOR SEMINAR | 4 |
- 1
Students must earn C- or better in this course.
Learning Domains
Arts and Literature (AL)
- 3 Courses Required
Historical Inquiry (HI)
- 2 Courses Required
Math and Computing (MC)
- Not Required
Philosophical Inquiry (PI)
- 2 Courses Required1
Religious Dimensions (RD)
- 2 Courses Required1
Scientific Inquiry (SI)
- 1 Lab Course Required
Social, Cultural, and Behavioral Inquiry (SCBI)
- 1 Course Required (must not be an ECO course)
Specified required courses within Liberal Studies may have grade minimums (e.g. C- or better). Please consult your advisor or your college and major requirements.
We offer courses that will help you prepare for the actuarial exams offered by the Society of Actuaries and the Casualty Actuarial Society. These courses include Probability and Statistics I & II (P Exam), Theory of Interest (FM Exam), Mathematics for Finance (IFM Exam), Loss Models I & II (STAM Exam), Life Contingencies I & II (LTAM Exam), and Applied Regression Analysis and Applied Time Series & Forecasting (SRM Exam). We also offer courses that will allow you to satisfy other requirements in the actuarial credentialing process.
Students are advised to talk with their advisor before double majoring, because some major combinations are prohibited. No more than 50% of the credits that apply to one major may be drawn from another major.
Major Requirements
Course Requirements
| Course | Title | Quarter Hours |
|---|---|---|
| Core Courses | ||
| Select one of the following Calculus sequences: | 12 | |
Sequence One | ||
| CALCULUS I | ||
| CALCULUS II | ||
| CALCULUS III | ||
Sequence Two | ||
| CALCULUS WITH INTEGRATED PRECALCULUS I | ||
| CALCULUS WITH INTEGRATED PRECALCULUS II | ||
| CALCULUS WITH INTEGRATED PRECALCULUS III | ||
Sequence Three 1 | ||
| SUMMER CALCULUS I | ||
| SUMMER CALCULUS II | ||
| ACC 101 | INTRODUCTION TO ACCOUNTING I | 4 |
| ACC 102 | INTRODUCTION TO ACCOUNTING II | 4 |
| BLW 201 | LEGAL & ETHICAL ASPECTS IN THE BUSINESS ENVIRONMENT | 4 |
| ECO 105 | PRINCIPLES OF MICROECONOMICS | 4 |
| ECO 106 | PRINCIPLES OF MACROECONOMICS | 4 |
| MAT 260 | MULTIVARIABLE CALCULUS I | 4 |
| MAT 262 | LINEAR ALGEBRA | 4 |
| MAT 351 | PROBABILITY AND STATISTICS I | 4 |
| MAT 352 | PROBABILITY AND STATISTICS II (Covers topics relevant to the P Exam) | 4 |
| MAT 353 | PROBABILITY AND STATISTICS III | 4 |
| MAT 361 | THEORY OF INTEREST | 4 |
| MAT 368 | MATHEMATICS FOR FINANCE | 4 |
| or MAT 369 | ACTUARIAL SCIENCE SEMINAR | |
| FIN 251 | CAREER MANAGEMENT IN ACTUARIAL SCIENCE | |
| FIN 310 | INTRODUCTION TO FINANCE | 4 |
| FIN 365 | PRINCIPLES OF RISK & INSURANCE | 4 |
| ICS 392 | (Liberal Studies Program Capstone) | 4 |
| Data Analysis Requirements | ||
| CSC 241 | INTRODUCTION TO COMPUTER SCIENCE I | 4 |
| MAT 341 | STATISTICAL METHODS USING SAS | 4 |
| Actuarial Mathematics Major Electives | ||
| Select one of the following two-course sequences: | 8 | |
| LIFE CONTINGENCIES I and LIFE CONTINGENCIES II | ||
| LIFE CONTINGENCIES I and LOSS MODELS I | ||
| LOSS MODELS I and LOSS MODELS II | ||
| Actuarial Statistics Major Electives | ||
| Select three of the following: | 12 | |
| BAYESIAN STATISTICS | ||
| STOCHASTIC PROCESSES | ||
| APPLIED REGRESSION ANALYSIS | ||
| APPLIED TIME SERIES AND FORECASTING | ||
| SIMULATION MODELS AND MONTE CARLO METHOD | ||
| GENERALIZED LINEAR MODELS | ||
| DATA ANALYSIS AND REGRESSION | ||
| ADVANCED DATA ANALYSIS | ||
| FOUNDATIONS OF DATA SCIENCE | ||
- 1
This Calculus sequence is offered only during the summer, in two 6-credit hour courses. Students successfully completing MAT 131, MAT 147, MAT 150 or MAT 160 should enroll in MAT 155; students who successfully complete MAT 148, MAT 151 or MAT 161 should enroll in MAT 156. Students who successfully complete MAT 155 may enroll in either MAT 151 or MAT 156.
Open Electives
Open elective credit also is required to meet the minimum graduation requirement of 192 hours.