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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 full-time 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 49 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 Accounting
ASC 281 Probability for Risk Mgmt
ASC 385 Mathematics of Finance I
ECN 101 Principles of Microeconomics
ECN 102 Principles of Macroeconomics
MAS 111 Analysis I
MAS 112 Analysis II
MAS 113 Mathematical Thinking I
MAS 114 Mathematical Thinking II
MAS 202 Foundations of Mathematics
MAS 261 Calculus III
MAS 371 Mathematical Probability
MAS 372 Mathematical Statistics

Two of:


ASC 386 Mathematics of Finance II
ASC 472 Loss Distrib. & Credibility
ASC 481 Actuarial Mathematics I
ASC 482 Actuarial Mathematics II

One of:


CSC 131 Intro. to Programming (w/Java)
CSC 220 Applictn Devlpmnt for Acturies

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.