Actuarial Science Program
An actuary is a business professional who uses mathematical skills to define, analyze, and solve financial and social problems and manage risk. Actuaries are employed by insurance companies, consulting firms, large corporations, and the federal and state governments.
LVC's actuarial science program provides students with the necessary background in math, economics, and finance to begin a career as an actuary, including 100 percent coverage of the Society of Actuaries' preliminary exam syllabi.
LVC actuarial science graduates enjoy a nearly 100 percent job placement rate. Many companies recruit on campus for paid summer and fulltime jobs.
The College's actuarial curriculum is continuously updated so that it covers the material on the first four examinations of the actuarial societies' education programs.
Professional success naturally follows from student achievement. We require students to pass at least one actuarial exam. In the last three years, students passed an average of 2.4 exams before graduating.
In 40 years, we've launched 73 Fellows and 52 Associates of the two actuarial societies and more than two dozen enrolled actuaries.
Our students' success stems from our emphasis on the learning process. Our students learn to extract technical information, master it, and then explain it. Employers seek our graduates because they are both articulate and technically proficient, a rare combination.
LVC actuarial graduates are employed by more than 50 national and Central Pennsylvania firms, including Aetna, The Hartford, The Chubb Group, ING, Towers Watson, Guardian Life, Conrad Siegel Actuaries, and Capital Blue Cross.
Most LVC actuarial science students hold paid summer actuarial positions, logging invaluable experience, making important networking connections, and earning excellent income.
The list below shows the relation between LVC courses and actuarial examination program of the Actuarial Societies.
Professional
Examination

LVC Courses

P/1 
MAS 111, 112, 113, 114; MAS 261; MAS 371; ASC 281 
FM/2 
ECN 101, 102, 201; ASC 281, 385 
MFE/3F, MLC/3L, C/4 
ASC 386, 481, 482, 472 
The details of the actuarial science major are provided below.
Degree Requirements: Bachelor of Science with a major in actuarial science
Required courses:
ACT 161 Financial AccountingBasic concepts of accounting including: accounting for business transactions, preparation and use of financial statements, and measurement of owners' equity. 3 credits. 
ASC 281 Probability for Risk MgmtAn introduction to risk management in property/casualty and life insurance with emphasis on probability concepts. Prerequisite: MAS 112. 3 credits. 
ASC 385 Mathematics of Finance IMeasurement of interest, time value of money, annuities, amortization and sinking funds, bonds, capitalized cost, net present value, yield rates, yield curves, duration, immunization; derivative products including calls, puts, forwards, and swaps. Prerequisite: MAS 112 or 162. 3 credits. 
ECN 101 Principles of MicroeconomicsThe course examines how individuals and firms make choices within the institution of freemarket capitalism. Individuals decide how much of their time to spend working and what to buy with the earnings of their labor. Firms decide how much to produce and in some cases what price to charge for their goods. Together these choices determine what is produced, how it is produced, and for whom it is produced in our economic system. Fulfills general education requirement: Liberal Studies Area 2 (Social Science). 3 credits. 
ECN 102 Principles of MacroeconomicsThis course extends the study of consumer and producer choices to discover how they affect the nation's economy. Macroeconomics deals with the economy as a whole as measured by the key variables of inflation, unemployment, and economic growth. Emphasis is on both Keynesian and classical theories and how they predict what monetary and fiscal policies can be used to affect these variables and reach national economic goals. Fulfills general education requirement: Liberal Studies Area 2 (Social Science). 3 credits. 
MAS 111 Analysis IA calculus sequence for department majors and other students desiring a rigorous introduction to elementary calculus. Fulfills general education requirement: Liberal Studies Area 4 (Mathematics). 4 credits. 
MAS 112 Analysis IISecond semester of a calculus sequence for department majors and other students desiring a rigorous introduction to elementary calculus. Fulfills general education requirement: Liberal Studies Area 4 (Mathematics). Prerequisite: MAS 111; Corequisites: MAS 113, 114. A student may not receive credit for both MAS 112 and MAS 162. 4 credits. 
MAS 113 Mathematical Thinking IAn introduction to college mathematics for potential mathematical science majors. 1 credit. 
MAS 114 Mathematical Thinking IISecond semester. Introduction to college mathematics for potential mathematical science majors. 1 credit. 
MAS 202 Foundations of MathematicsIntroduction to logic, set theory and proof techniques. Prerequisites: MAS 251 or ASC 281. 3 credits. 
MAS 261 Calculus IIIMultivariate calculus including partial differentiation, multiple integration, vector fields and vector functions. Prerequisites: MAS 112 or MAS 162. 3 credits. 
MAS 371 Mathematical ProbabilityA mathematical introduction to probability, discrete and continuous random variables, and sampling. Prerequisites: at least two of MAS 202, 251, and ASC 281. 3 credits. 
MAS 372 Mathematical StatisticsAn introduction to the mathematical foundations of statistics including sampling distributions, estimation, hypothesis testing, linear models and multivariate distributions. Prerequisite: MAS 371. 3 credits. 
Two of:
ASC 386 Mathematics of Finance IIParity, binominal pricing, BlackScholes pricing, hedging, exotic options, and interest rate models. Prerequisite: ASC 385. Corequisite: MAS 371. 3 credits. 
ASC 472 Loss Distrib. & CredibilityAn introduction to loss distributions and credibility theory with emphasis on actuarial applications. Prerequisite: MAS 371. 3 credits. 
ASC 481 Actuarial Mathematics ISurvival distributions, life insurance, life annuities, benefit premiums and reserves, multiple life and decrement models. Prerequisite: ASC 385; Corequisite: MAS 371. 3 credits. 
ASC 482 Actuarial Mathematics IIMultiple life and decrement models, expenses, individual and collective risk models, compound distributions, including applications. Prerequisites: ASC 385,481. 3 credits. 
One of:
CSC 131 Intro. to Programming (w/Java)Foundational aspects of computer programming. Algorithms and data; control structures; the design of small programs. Class and object basics. Uses the Java programming language. 3 credits. 
CSC 220 Applictn Devlpmnt for ActuriesThis course will explore programming and database tools and methods that are commonly used in the actuarial profession. Topics include database design, programming, and use with SQL (Structured Query Language); objectoriented programming in Visual Basic; and Excel VBA macros (Visual Basic for Applications). Prerequisite: Sophomore standing or higher. Actuarial Science major, or permission of the instructor. 3 credits. 
Total of 46 credits.
The Course P/Part 1 or Course FM/Part 2 examination of the Society of Actuaries/Casualty Actuarial Society must be passed before senior standing is reached.
There is no Actuarial Science minor.
This curriculum covers about 95% of the material for the preliminary examinations (P/1, FM/2, MFE, MLC, C) on the Society of Actuaries and Casualty Actuarial Society examinations.
For students transferring into the Department of Mathematical Sciences after having completed two semesters of calculus, the MAS 111, 112, 113, 114 requirement may be replaced with MAS 161, 162, and one other MAS course numbered 200 or higher, which is not otherwise used to fulfill the requirements of the student's major and is approved by the student's advisor.