BA degree Program in Actuarial Sciences

Current descriptions of the undergraduate programs and courses can be found in the University Bulletin.

For students entering Binghamton Unviersity at or after Fall 2009
The track in actuarial sciences is designed to prepare students for an actuarial career. Actuaries analyze and solve complex business and social problems related to insurance and pension plans. Professional advancement results from passing a series of examinations administered by the actuarial societies and by completion of specific courses or sets of courses approved by the actuarial societies. The track in actuarial sciences provides a strong preparation for an actuarial career. To obtain a BA degree in mathematics with an actuarial sciences track, a student must complete 10 courses from the Department of Mathematical Sciences and 2 courses from economics as follows:

Basic courses in Mathematics (calculus and linear algebra): MATH 221, 222, 323, 304;
Probability, statistics and actuarial courses: MATH 346, 447, 448 and 449;
Number systems and differential equations: MATH 330, and either 371 or 372;
Economics: ECON 160, 162.

At least three of the required mathematics courses listed above, and numbered above MATH 330, must be regular courses (not independent study) taken from the Department of Mathematical Sciences at Binghamton University.

For students entering Binghamton University before Fall 2009
The Department of Mathematical Sciences at Binghamton University offers a track in Actuarial Sciences of the BA degree in Mathematics. This program provides a strong preparation for an actuarial career. To obtain a BA degree in Actuarial Sciences a student must complete a minimum 12 courses. 10 courses should be from the Department of Mathematical Sciences as follows:

1. Calculus-Linear Algebra: Math 221, 222, 323 and 304.

2. Probability, statistics and actuarial courses: Math 346, 447, 448, 449 and 450.

3. Ordinary differential equations: Math 371.

4. Economics: ECON 160, 162, 360, and 362.

Students should be reminded that the most important factor for being hired as an actuary in an entry level position is to pass the first two first actuarial exams. These two exams can be taken in any order.

There are courses, not required in this program, but are very helpful in becoming an actuary, for example courses in accounting, finance and economics. Students are encouraged to take an introductory accounting course and courses in finance and economics, mainly the courses needed to satisfy the VEE requirements. Notice that by taking the economics courses in the BA degree in Actuarial Sciences and in the VEE requirements, a student satisfies some/many of the requirements for either a minor, or a BA, or a BS in Economics (see Economics undergraduate degrees). Math-448 can be used to satisfy the statistics requirements for a BA in Economics.

A lot of actuarial work is done using a computer, particularly Excel and Visual Basic for Applications. A recommended course on these computer applications is CS 100, Fundamentals of programming using Basic.

Students are also encouraged to take at least one writing course, preferably a business writing course. A lot of actuarial work consists in communicate results, mainly by writing, to nonactuaries.