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  Jul 24, 2017
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2013-2014 Academic Catalog [Archived Catalog]

Actuarial Science, M.S.

The Maryville Master’s program in Actuarial Science is designed to accommodate professionals currently working in the field as well as students who have completed or are completing their undergraduate degree in actuarial science, mathematics, or a related field. The advanced coursework and professional internship opportunities of the program are specifically designed to prepare students to pass the exams required to obtain the professional designation of Fellow by the Society of Actuaries (F.S.A.).

The program offers two different paths to obtain the master’s degree: the Master of Science in Actuarial Science and the  Accelerated Master of Science in Actuarial Science.

Master of Science in Actuarial Science

The Maryville University Math Department offers a 36 credit hour program (12 courses) leading to the Master of Science in Actuarial Science. The 12 required courses of the program are  spread across four semesters, with three courses taken eachsemester. Other time is spent in preparation for Society of Actuaries exams and internship training. The student is also required to pass one professional exam which is offered by the Society of Actuaries.

The program allows for possible completion in three semesters. Courses are offered mainly in the evening and weekend to accommodate part-time working students. Courses offered jointly with undergraduate students are mainly in the day.

Accelerated Master of Science in Actuarial Science

This unique option enables the Maryville undergraduate  majoring in actuarial science to complete the master’s program in just one additional year. In this option, four courses (12 credits) taken during the senior year as part of the undergraduate curriculum also count toward the master’s degree. The students complete 24 credits in the fifth year of study to complete the requirements of the master’s degree. Undergraduate students must have a minimum grade point average of 3.6 to gain admission to the program. No GRE or TOEFL is required for Maryville students entering the master’s program.

Non-Degree Seeking Option for Actuarial Exams

Actuarial professionals may enroll in specific actuarial science classes to prepare for the series of professional actuarial exams. Students would be classified as non-degree seeking students for this purpose. Contact the Director of Mathematics and Actuarial Science for further information.

Actuarial Science as a Career

Actuarial science ranks high when compared to other careers judged on the following criteria: work environment, income, stress level, security, physical demands, and employment opportunities. Approximately one-half of all actuaries work for insurance companies, one-third in independent consulting firms, and the rest in federal and state government, corporations, and universities.

Elective Courses:

The Actuarial Exam System

As of 2005, the Society of Actuaries has revised its examination structure for the first four courses (each course corresponds to one exam offered). Detailed information regarding this redesign can be obtained from the Society’s website. One of the most significant changes in the curricula is that some of the requirements for Associateship must be met through taking approved course work-VEE (Validated by Education Experience Subjects). Maryville University, as one of the Society of Actuaries’ pilot group, offers courses such as ACSC 405/505, ACSC 416/516, ECON 201, and ECON 202, which have been approved by VEE Administration Committee to fulfill the requirements of topics in Corporate Finance, Economics, and Applied Statistical Methods.

The Maryville Actuarial Science curriculum is designed to coordinate with the first five actuarial exams jointly sponsored by the Society of Actuaries and the Casualty Actuarial Society. See the following tables for the specific courses in the major and how they relate to the professional exams.