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 offer 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 87 Fellows and 51 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 100 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:
ASC 281 Probability for Risk ManagementThis class provides an introduction to probability with a focus on applications to risk management in property/casualty and life insurance. We study fundamental concepts in general probability, counting problems, and probability distributions, both discrete and continuous, singlevariable and multivariate. ASC 281 covers the material on SOA exam P  Probability. Prerequisite: MAS 112. 3 credits. 
ASC 385 Mathematics of Finance IThis course is an introduction to interest theory (including applications) and fundamental financial instruments. Interest theory topics covered include time value of money, annuities, loans, bonds, project appraisal, portfolios, duration, immunization, and the term structure of interest rates. The financial instruments section of the class focuses on the properties and uses of derivative products including calls, puts, forwards, futures, and swaps. ASC 385 covers the material on SOA exam FM  Financial Mathematics. Prerequisite: MAS 112 or MAS 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 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 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 requirement: Liberal Studies Area 4 (Mathematics),Quantitative Reasoning. Corequisite: MAS 113. 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 requirement: Liberal Studies Area 4 (Mathematics),Quantitative Reasoning. Prerequisite: MAS 111; Corequisite: MAS 114. 4 credits. 
MAS 113 Introduction to Mathematical Thinking IAn introduction to college mathematics for potential mathematical science majors. Corequisite: MAS 111. 1 credit. 
MAS 114 Introduction to Mathematical Thinking IISecond semester. Introduction to college mathematics for potential mathematical science majors. Corequisite: MAS 112. 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, MAS 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. 
One of the following:
ACT 131 Financial Statement AnalysisThis course will provide students with an introduction to the basic financial statements and other SEC filings. They will become familiar with the concept of footnote disclosures. They will evaluate and analyze how financial statements are used by stakeholders and how information contained therein in collected. 3 credits. 
ACT 151 Financial AccountingBasic concepts of accounting including: accounting for business transactions, preparation and use of financial statements, and measurement of owners' equity. Course restricted to Accounting, Actuarial Science, and Analytical Finance majors. 3 credits. 
One of the following:
CDS 142 Programming IThis course introduces the fundamentals of computer programming using the Java programming language. Control structures, types and the type system, and the design of methods and classes will be considered. 3 credits. 
CDS 220 Application Development for Actuaries StructuresThis 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. 
Two of the following:
ASC 386 Mathematics of Finance IIIn this class we study financial models and the applications of these models to risk management. Topics we address include parity, binomial pricing, the BlackScholes model, hedging, exotic options, simulation, and interest rate models. ASC 386 combined with MAS 371 covers the material on SOA exam MFE  Models of Financial Economics. Prerequisite: ASC 385. Corequisite: MAS 371. 3 credits. 
ASC 472 Loss Distributions and Credibility TheoryIn this course we study various loss models as well as the process of selecting, constructing, and evaluating a model when solving an actuarial problem. We cover frequency, severity, aggregate, empirical, and parametric models as well as credibility and simulation. ASC 472 combined with MAS 371 and MAS 372 covers the material on SOA exam C  Construction and Evaluation of Actuarial Models. Prerequisite: MAS 371. 3 credits. 
ASC 481 Actuarial Mathematics IThis is the first part of a two semester study of contingent payment models from both theoretical and applied perspectives. We look at survival distributions, present value random variables, benefits, premiums, reserves, and profit testing. ASC 481 and 482 combined cover the material on SOA exam MLC  Models for Life Contingencies. Prerequisite: ASC 385; Corequisite: MAS 371. 3 credits. 
ASC 482 Actuarial Mathematics IIThis is the second part of a two semester study of contingent payment models from both theoretical and applied perspectives. We revisit many of the ideas from ASC 481 in a more general context, including multiplestate models, emerging costs, pensions, and universal life. ASC 481 and 482 combined cover the material on SOA exam MLC  Models for Life Contingencies. Prerequisites: ASC 385 and ASC 481. 3 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.