» Major in Actuarial Science

Major in Actuarial Science

Actuaries are trained in mathematics, statistics and economic techniques that allow them to quantify risk. They use their skills to analyze and solve business and social problems related to insurance, pensions, Social Security, employee benefits and related fields.

Actuaries work for insurance companies, investment firms, government agencies, employee benefits consulting firms and others. The Jobs Rated Almanac, which rates 200 jobs on the basis of such categories as salary, benefits, outlook for the future, stress, work environment and job security, has rated actuaries among the top jobs in all of its rankings since the 2000s.

Actuaries achieve professional status by passing a series of examinations administered by the Society of Actuaries (SOA) and/or the Casualty Actuarial Society (CAS). Students are generally expected to have passed one or two of the exams while in college, but most are taken after employment. The Elmhurst College Actuarial Science Program prepares students to take the first two actuarial exams covering probability (SOA Exam P) and Financial Mathematics (SOA Exam FM) and obtain SOA/CAS credit for the topics of Economics (Micro and Macro), Finance, and Applied Statistics.

The Elmhurst College major in actuarial science consists of 13.00 credits at or above the 200-level but excludes MTH 325, MTH 326, MTH 327 and MTH 345.

All actuarial science majors are required to complete:

  • MTH 251 Calculus III
  • MTH 301 Discrete Mathematics
  • MTH 346 Statistics for Scientists
  • MTH 351 Mathematics of Finance
  • MTH 400 Research Methods in Mathematics
  • MTH 421 Probability Theory
  • MTH 451 Senior Paper
  • BUS 261 Financial Accounting
  • BUS 262 Management Accounting
  • BUS 340 Business Finance
  • CS 220 Computer Science I
  • ECO 210 Introduction to Microeconomics
  • ECO 211 Introduction to Macroeconomics
  • MTH 348/ECO 418 Advanced Statistics/Econometrics

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