BS 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 the Fall 2009
The BS track in actuarial sciences is designed to prepare students for an actuarial career. It is a mathematically stronger program designed for students who may wish to pursue a graduate degree in actuarial sciences. 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 BS degree in mathematics with an actuarial sciences track, a student must complete 14 courses from the Department of Mathematical Sciences and 4 courses from the Department of Economics as follows:
- Basic courses in Mathematics (calculus and linear algebra): MATH 221, 222, 323 and 304.
- Probability, statistics and actuarial courses: MATH 346, 447, 448, 449, 450 and 452.
- Number systems and differential equations: MATH 330, and either 371 or 372;
- Advanced courses in Mathematics: MATH 478 and 479.
- Economics: ECON 160, 162, 360 and 362.
The difference in curriculum between BS and BA is shown in bold face.
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.