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Nov 27, 2024
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2023-2024 Undergraduate Catalog [ARCHIVED CATALOG]
Actuarial Science, B.S.
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Department Website
Students must complete the Oakland University General Education Requirements, General College of Arts and Sciences Requirements, College of Arts and Sciences College Exploratory Requirement, Major Requirements, and an appropriate number of free elective classes to meet the overall credit requirement for the degree (in most cases a minimum of 124; some degrees may require a greater number).
As a general rule, no more than eight credits of coursework used to satisfy one major, minor or concentration may be applied toward another, but exceptions to this rule may be allowed with the written approval of the program coordinators.
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Schedule of Classes
Specific offerings for each semester may be found in the Schedule of Classes.
General Education Requirements
In order to graduate on-schedule without taking additional courses, it is highly recommended that students meet with an Undergraduate Academic Adviser concerning the selection of all of their general education courses.
Each candidate for an Oakland University baccalaureate will need to satisfactorily complete approved courses in each of the following areas: Foundation, Exploration, Integration, Writing, U.S. Diversity and Capstone. For details, refer to the General Education Requirements section of the catalog.
Requirements for the major in actuarial science, B.S. program
Because an actuary needs a blend of mathematics, economics, statistics and finance, this major is offered jointly by the Department of Mathematics and Statistics and the Department of Economics. However, the major in actuarial science differs significantly from the other majors offered by these two departments because it (1) prepares students for jobs in actuarial science and provides them with the educational background necessary to pursue an advanced degree in economics, mathematics, statistics, or business administration, (2) integrates two distinctly different disciplines, thereby providing students with a breadth of knowledge that is needed in a fast-changing world, and (3) provides students with the analytical and reasoning skills to successfully complete the first two exams in actuarial science offered by the Society of Actuaries. To earn the Bachelor of Science degree with a major in actuarial science, students must
1. Complete Basic Mathematics Requirements
2. Complete Probability Requirements
3. Complete Economics Requirements
4. Complete Statistics Requirement
5. Complete Accounting and Finance Requirements
6. Complete Regression Requirement
7. Complete Database and Programming Requirements
8. Complete Additional Mathematics-Statistics Requirement
9. Complete Financial Mathematics Requirement
10. Complete Financial Derivatives Requirement
11. Complete cognate courses
12. Complete ACHIEVE courses
13. Earn a minimum grade of C in all courses applied to the major including cognate courses for the major.
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