# Actuarial Mathematics - B.S.

**College of Arts and Sciences**

Department of Mathematical Sciences

233 Mathematics and Computer Science Building

Kent Campus

330-672-2430

math@math.kent.edu

www.kent.edu/math

## Description

The Bachelor of Science degree in Actuarial Mathematics prepares students for the actuarial profession. Actuaries are professionals who manage risk. They predict the likelihood of future events and model the financial impact of future scenarios. They find creative ways to mitigate the undesirable effects of future events. Although most actuaries are employed in the insurance and financial industries, many others work in the transportation, environmental, medical and manufacturing industries, as well as in government.

The Actuarial Mathematics major is highly interdisciplinary, integrating substantial coursework in business, computing and communications with a solid core of mathematics and statistics. Kent State University is one of only four institutions in Ohio to receive the Universities and Colleges with Actuarial Programs-Advanced Curriculum designation from the Society of Actuaries. The Kent State program prepares students for the first four of a series of examinations to receive professional certification as an actuary.

### Fully Offered At:

- Kent Campus

## Admission Requirements

The university affirmatively strives to provide educational opportunities and access to students with varied backgrounds, those with special talents and adult students who graduated from high school three or more years ago.

**Freshman Students on the Kent Campus:** The freshman admission policy on the Kent Campus is selective. Admission decisions are based upon the following: cumulative grade point average, ACT and/or SAT scores, strength of high school college preparatory curriculum and grade trends. The Admissions Office at the Kent Campus may defer the admission of students who do not meet admissions criteria but who demonstrate areas of promise for successful college study. Deferred applicants may begin their college coursework at one of seven regional campuses of Kent State University. For more information on admissions, including additional requirements for some academic programs, visit the __admissions website for new freshmen__.

**Freshman Students on the Regional Campuses:** Kent State campuses at Ashtabula, East Liverpool, Geauga, Salem, Stark, Trumbull and Tuscarawas, as well as the Regional Academic Center in Twinsburg, have open enrollment admission for students who hold a high school diploma, GED or equivalent.

**English Language Proficiency Requirements for International Students:** All international students must provide proof of English language proficiency (unless they meet specific exceptions) by earning a minimum 525 TOEFL score (71 on the Internet-based version), minimum 75 MELAB score, minimum 6.0 IELTS score or minimum 48 PTE score, or by completing the ESL level 112 Intensive Program. For more information on international admission, visit the Office of Global Education’s admission website.

**Transfer, Transitioning and Former Students:** For more information about admission criteria for transfer, transitioning and former students, please visit the __admissions website__.

## Program Learning Outcomes

Graduates of this program will be able to:

- Reason mathematically by using precise definitions, articulating assumptions and reasoning logically to conclusions.
- Engage effectively in problem solving by exploring examples, assessing the correctness of solutions and interpreting solutions in an actuarial context.
- Define, interpret and apply standard actuarial notation, terminology and formulas.
- Analyze various streams of cash flows, both certain and contingent.
- Apply methods from probability, statistics and stochastic processes to the solution of problems in actuarial science, finance and economics.
- Communicate solutions of mathematical problems clearly, both orally and in writing.
- Employ commonly used computer programming languages and software packages to solve problems in actuarial science, finance and economics.
- Demonstrate fundamental knowledge of finance, economics and accounting.

## University Requirements

All students in a bachelor's degree program at Kent State University must complete the following university requirements for graduation.

**NOTE: **University requirements may be fulfilled in this program by specific course requirements. Please see Program Requirements for details.

Requirement | Credits/Courses |
---|---|

Destination Kent State: First Year Experience | 1 |

Course is not required for students with 25 transfer credits, excluding College Credit Plus, or age 21+ at time of admission. | |

Diversity Domestic/Global (DIVD/DIVG) | 2 courses |

Students must successfully complete one domestic and one global course, of which one must be from the Kent Core. | |

Experiential Learning Requirement (ELR) | varies |

Students must successfully complete one course or approved experience. | |

Kent Core (see table below) | 36-37 |

Writing-Intensive Course (WIC) | 1 course |

Students must earn a minimum C grade in the course. | |

Upper-Division Requirement | 39 (or 42) |

Students must successfully complete 39 upper-division (numbered 30000 to 49999) credit hours to graduate. Students in a B.A. and/or B.S. degree in the College of Arts and Sciences must complete 42 upper-division credit hours. | |

Total Credit Hour Requirement | 120 |

Some bachelor's degrees require students to complete more than 120 credit hours. |

## Kent Core Requirements

Requirement | Credits/Courses |
---|---|

Kent Core Composition (KCMP) | 6 |

Kent Core Mathematics and Critical Reasoning (KMCR) | 3 |

Kent Core Humanities and Fine Arts (KHUM/KFA) (min one course each) | 9 |

Kent Core Social Sciences (KSS) (must be from two disciplines) | 6 |

Kent Core Basic Sciences (KBS/KLAB) (must include one laboratory) | 6-7 |

Kent Core Additional (KADL) | 6 |

Total Credit Hours: | 36-37 |

## Program Requirements

### Major Requirements

Code | Title | Credit Hours |
---|---|---|

Major Requirements (courses count in major GPA) | ||

ACCT 23020 | INTRODUCTION TO FINANCIAL ACCOUNTING ^{1} | 3 |

ECON 22060 | PRINCIPLES OF MICROECONOMICS (KSS) ^{1} | 3 |

ECON 22061 | PRINCIPLES OF MACROECONOMICS (KSS) ^{1} | 3 |

ECON 32050 | APPLIED ECONOMETRICS I (ELR) | 3 |

FIN 36053 | BUSINESS FINANCE ^{1} | 3 |

MATH 12002 | ANALYTIC GEOMETRY AND CALCULUS I (KMCR) (min C grade) | 5 |

MATH 12003 | ANALYTIC GEOMETRY AND CALCULUS II (min C grade) | 5 |

MATH 20011 | DECISION-MAKING UNDER UNCERTAINTY | 3 |

MATH 21001 | LINEAR ALGEBRA (min C grade) | 3 |

MATH 22005 | ANALYTIC GEOMETRY AND CALCULUS III (min C grade) | 4 |

MATH 30055 | MATHEMATICAL THEORY OF INTEREST (min C grade) | 3 |

MATH 31011 | PROOFS IN DISCRETE MATHEMATICS | 3 |

MATH 32044 | ORDINARY DIFFERENTIAL EQUATIONS | 3 |

MATH 40011 | PROBABILITY THEORY AND APPLICATIONS (min C grade) | 3 |

MATH 40012 | THEORY OF STATISTICS | 3 |

MATH 40055 | ACTUARIAL MATHEMATICS I (ELR) (WIC) (min C grade) ^{2} | 4 |

MATH 40056 | ACTUARIAL MATHEMATICS II | 4 |

MATH 40059 | STOCHASTIC ACTUARIAL MODELS | 3 |

Computer Science Elective, choose from the following: | 4 | |

PROGRAMMING FOR PROBLEM SOLVING IN SCIENCES | ||

COMPUTER SCIENCE I: PROGRAMMING AND PROBLEM SOLVING | ||

COMPUTER SCIENCE IA: PROCEDURAL PROGRAMMING and COMPUTER SCIENCE IB: OBJECT ORIENTED PROGRAMMING | ||

Mathematics Electives, choose from the following: | 6 | |

APPLIED STATISTICS | ||

COMPUTATIONAL STATISTICS | ||

STATISTICAL LEARNING | ||

TOPICS IN PROBABILITY THEORY AND STOCHASTIC PROCESSES | ||

THEORY OF MATRICES | ||

ANALYSIS I (ELR) (WIC) ^{2} | ||

ANALYSIS II (ELR) (WIC) ^{2} | ||

MATHEMATICAL OPTIMIZATION | ||

GRAPH THEORY AND COMBINATORICS | ||

MATHEMATICAL MODELS AND DYNAMICAL SYSTEMS | ||

MODELING PROJECTS (ELR) (WIC) ^{2} | ||

ADVANCED CALCULUS | ||

PARTIAL DIFFERENTIAL EQUATIONS | ||

COMPLEX VARIABLES | ||

NUMERICAL COMPUTING I | ||

NUMERICAL COMPUTING II | ||

DIFFERENTIAL GEOMETRY | ||

Allied Area Elective, choose from the following: ^{3} | 3 | |

INTERMEDIATE FINANCIAL ACCOUNTING I | ||

INTRODUCTION TO ACCOUNTING SYSTEMS | ||

COST ACCOUNTING | ||

INTERMEDIATE FINANCIAL ACCOUNTING II | ||

ADVANCED FINANCIAL ACCOUNTING | ||

INTERNATIONAL ACCOUNTING EXPERIENCE | ||

HUMAN GENETICS | ||

BIOLOGY OF AGING | ||

INTERNATIONAL BUSINESS EXPERIENCE | ||

INTERNATIONAL BUSINESS | ||

INTRODUCTION TO MATERIALS CHEMISTRY | ||

ANALYTICAL CHEMISTRY I | ||

ANALYTICAL CHEMISTRY II | ||

INORGANIC CHEMISTRY I | ||

INORGANIC CHEMISTRY II | ||

INORGANIC CHEMISTRY III | ||

PHYSICAL CHEMISTRY I | ||

PHYSICAL CHEMISTRY II | ||

NANOMATERIALS | ||

DATA AND FILE TECHNOLOGY | ||

SYSTEMS ANALYSIS AND DESIGN | ||

PROGRAMMING THEORY AND APPLICATIONS | ||

ADVANCED COMPUTER PROGRAMMING FOR BUSINESS | ||

DATA MANAGEMENT AND BUSINESS INTELLIGENCE I | ||

INFORMATION SYSTEMS MANAGEMENT | ||

CLOUD SYSTEMS INTEGRATION (ELR) (WIC) | ||

INTRODUCTION TO DATABASE SYSTEM DESIGN | ||

STRUCTURE OF PROGRAMMING LANGUAGES | ||

OPERATING SYSTEMS | ||

SOFTWARE ENGINEERING | ||

COMPUTER ORGANIZATION | ||

COMPUTER COMMUNICATION NETWORKS | ||

INTRODUCTION TO GAME PROGRAMMING | ||

THEORY OF OBJECT-ORIENTED PROGRAMMING | ||

STRUCTURE OF COMPILERS | ||

SYSTEMS ADMINISTRATION | ||

SYSTEMS PROGRAMMING | ||

SOFTWARE DEVELOPMENT FOR ROBOTICS | ||

ADVANCED DIGITAL DESIGN | ||

SECURE PROGRAMMING | ||

COMPUTER SCIENCE III-PROGRAMMING PATTERNS | ||

MOBILE APPS IN IOS PROGRAMMING | ||

WEB PROGRAMMING I | ||

WEB PROGRAMMING II | ||

ARTIFICIAL INTELLIGENCE | ||

COMPUTER NETWORK SECURITY | ||

INTERNET ENGINEERING | ||

DESIGN AND ANALYSIS OF ALGORITHMS | ||

COMPUTER GRAPHICS | ||

INFORMATION SECURITY | ||

DATA SECURITY AND PRIVACY | ||

DIGITAL FORENSICS | ||

INTRODUCTION TO CRYPTOLOGY | ||

GAME ENGINE CONCEPTS | ||

MONEY, CREDIT AND BANKING | ||

INTERMEDIATE MICROECONOMIC THEORY AND APPLICATIONS | ||

INTERMEDIATE MACROECONOMIC THEORY AND POLICY | ||

APPLIED ECONOMETRICS II | ||

DATA ACQUISITION, PREPARATION AND VISUALIZATION | ||

PROBLEMS OF MONETARY AND FISCAL POLICY | ||

GAME THEORY | ||

PUBLIC ECONOMICS: GOVERNMENT AND POLICY | ||

ECONOMICS OF HEALTH CARE | ||

INTERMEDIATE CORPORATE FINANCE | ||

INTERMEDIATE INVESTMENTS | ||

PRINCIPLES OF INSURANCE | ||

ADVANCED FINANCIAL MODELING | ||

FINANCIAL RISK MANAGEMENT | ||

ADVANCED DERIVATIVE SECURITIES | ||

INTERNATIONAL BUSINESS FINANCE | ||

ADVANCED PORTFOLIO ANALYSIS | ||

INTERNATIONAL FINANCE EXPERIENCE | ||

FUNDAMENTALS OF METEOROLOGY | ||

PRINCIPLES OF CLIMATOLOGY | ||

GEOGRAPHY OF TRANSPORTATION AND SPATIAL INTERACTION | ||

STATISTICAL METHODS IN GEOGRAPHY | ||

APPLIED CLIMATOLOGY | ||

SPATIAL ANALYSIS AND LOCATION THEORY | ||

GEOGRAPHIC INFORMATION SCIENCE | ||

ADVANCED GEOGRAPHIC INFORMATION SCIENCE | ||

WEB AND MOBILE GEOGRAPHIC INFORMATION SCIENCE | ||

CARTOGRAPHY | ||

REMOTE SENSING | ||

STRUCTURAL GEOLOGY | ||

GEOMORPHOLOGY | ||

GENERAL GEOPHYSICS | ||

TECTONICS AND OROGENY | ||

REMOTE SENSING | ||

SCIENTIFIC METHODS IN GEOLOGY | ||

APPLIED STATISTICS | ||

COMPUTATIONAL STATISTICS | ||

STATISTICAL LEARNING | ||

TOPICS IN PROBABILITY THEORY AND STOCHASTIC PROCESSES | ||

MODERN ALGEBRA I (ELR) (WIC) | ||

MODERN ALGEBRA II (ELR) (WIC) | ||

THEORY OF MATRICES | ||

ANALYSIS I (ELR) (WIC) | ||

ANALYSIS II (ELR) (WIC) | ||

MATHEMATICAL OPTIMIZATION | ||

GRAPH THEORY AND COMBINATORICS | ||

MATHEMATICAL MODELS AND DYNAMICAL SYSTEMS | ||

MODELING PROJECTS (ELR) (WIC) | ||

ADVANCED CALCULUS | ||

PARTIAL DIFFERENTIAL EQUATIONS | ||

COMPLEX VARIABLES | ||

NUMERICAL COMPUTING I | ||

NUMERICAL COMPUTING II | ||

DIFFERENTIAL GEOMETRY | ||

EUCLIDEAN GEOMETRY | ||

LINEAR GEOMETRY | ||

ELEMENTARY TOPOLOGY | ||

THEORY OF NUMBERS | ||

HISTORY OF MATHEMATICS | ||

OPERATIONS MANAGEMENT | ||

PHILOSOPHY OF SCIENCE | ||

INTERMEDIATE LOGIC | ||

METALOGIC | ||

COSMOLOGY | ||

CLASSICAL MECHANICS | ||

INTRODUCTORY MODERN PHYSICS | ||

APPLICATIONS OF MODERN PHYSICS | ||

ASTROPHYSICS | ||

ELECTROMAGNETIC THEORY | ||

THERMAL PHYSICS | ||

MATHEMATICAL METHODS IN PHYSICS | ||

DATA ANALYSIS AND COMPUTATIONAL PHYSICS TECHNIQUES | ||

ELECTROMAGNETIC WAVES AND MODERN OPTICS | ||

QUANTUM MECHANICS | ||

INTRODUCTION TO NUCLEAR AND PARTICLE PHYSICS | ||

INTRODUCTION TO SOLID STATE PHYSICS | ||

Additional Requirements (courses do not count in major GPA) | ||

COMM 15000 | INTRODUCTION TO HUMAN COMMUNICATION (KADL) | 3 |

UC 10097 | DESTINATION KENT STATE: FIRST YEAR EXPERIENCE | 1 |

Foreign Language Requirement (see Foreign Language College Requirement) | 8 | |

Kent Core Composition | 6 | |

Kent Core Humanities and Fine Arts (minimum one course from each) | 9 | |

Kent Core Social Sciences (must be from two disciplines) | 3 | |

Kent Core Basic Sciences (must include one laboratory) | 6-7 | |

General Electives (total credit hours depends on earning 120 credit hours, including 42 upper-division credit hours | 10 | |

Minimum Total Credit Hours: | 120 |

^{1} | These courses with a minimum B- grade fulfill the Validation by Educational Experience (VEE) requirements jointly sponsored by the Society of Actuaries, Casualty Actuarial Society and Canadian Institute of Actuaries. |

^{2} | A minimum C grade must be earned to fulfill the writing-intensive course requirement. |

^{3} | A course may only count for one requirement even though it may appear in more than one course list. |

## Graduation Requirements

Minimum Major GPA | Minimum Overall GPA |
---|---|

2.000 | 2.000 |

**Foreign Language College Requirement**

- Students pursuing the Bachelor of Science degree in the College of Arts and Sciences must complete 8 credit hours of foreign language.
^{1} - Minimum Elementary I and II of the same language

^{1} | All students with prior foreign language experience should take the foreign language placement test to determine the appropriate level at which to start. Some students may begin their university foreign language experience beyond the Elementary I level and will complete the requirement with fewer credit hours and fewer courses. This may be accomplished by: (1) passing a course beyond the Elementary I through Intermediate II level or (2) receiving credit through Credit by Exam (CBE), the College Level Examination Program (CLEP), the Advanced Placement (AP) exam or credit through the International Baccalaureate (IB) program; or (3) being designated a "native speaker" of a non-English language (consult with the College of Arts and Sciences Advising Office for additional Information) . When students complete the requirement with fewer than 8 credit hours and two courses, they will complete the remaining hours with general electives. |

## Roadmap

This roadmap is a recommended semester-by-semester plan of study for this major. However, courses designated as critical (!) must be completed in the semester listed to ensure a timely graduation.

Semester One | Credits | |
---|---|---|

COMM 15000 | INTRODUCTION TO HUMAN COMMUNICATION (KADL) | 3 |

MATH 12002 | ANALYTIC GEOMETRY AND CALCULUS I (KMCR) | 5 |

UC 10097 | DESTINATION KENT STATE: FIRST YEAR EXPERIENCE | 1 |

Computer Science Elective | 4 | |

Kent Core Requirement | 3 | |

Credit Hours | 16 | |

Semester Two | ||

MATH 12003 | ANALYTIC GEOMETRY AND CALCULUS II | 5 |

MATH 20011 | DECISION-MAKING UNDER UNCERTAINTY | 3 |

MATH 21001 | LINEAR ALGEBRA | 3 |

Kent Core Requirement | 3 | |

Kent Core Requirement | 3 | |

Credit Hours | 17 | |

Semester Three | ||

ECON 22060 | PRINCIPLES OF MICROECONOMICS (KSS) | 3 |

MATH 22005 | ANALYTIC GEOMETRY AND CALCULUS III | 4 |

MATH 30055 | MATHEMATICAL THEORY OF INTEREST | 3 |

MATH 31011 | PROOFS IN DISCRETE MATHEMATICS | 3 |

Foreign Language | 4 | |

Credit Hours | 17 | |

Semester Four | ||

ECON 22061 | PRINCIPLES OF MACROECONOMICS (KSS) | 3 |

MATH 32044 | ORDINARY DIFFERENTIAL EQUATIONS | 3 |

MATH 40011 | PROBABILITY THEORY AND APPLICATIONS | 3 |

Kent Core Requirement | 3 | |

Foreign Language | 4 | |

Credit Hours | 16 | |

Semester Five | ||

ACCT 23020 | INTRODUCTION TO FINANCIAL ACCOUNTING | 3 |

MATH 40055 | ACTUARIAL MATHEMATICS I (ELR) (WIC) | 4 |

Mathematics Elective | 3 | |

Kent Core Requirement | 3 | |

Credit Hours | 13 | |

Semester Six | ||

FIN 36053 | BUSINESS FINANCE | 3 |

MATH 40012 | THEORY OF STATISTICS | 3 |

MATH 40056 | ACTUARIAL MATHEMATICS II | 4 |

Kent Core Requirement | 3 | |

Kent Core Requirement | 3 | |

Credit Hours | 16 | |

Semester Seven | ||

Allied Area Elective | 3 | |

Mathematics Elective | 3 | |

Kent Core Requirement | 3 | |

General Electives | 6 | |

Credit Hours | 15 | |

Semester Eight | ||

ECON 32050 | APPLIED ECONOMETRICS I (ELR) | 3 |

MATH 40059 | STOCHASTIC ACTUARIAL MODELS | 3 |

General Electives | 4 | |

Credit Hours | 10 | |

Minimum Total Credit Hours: | 120 |