Actuarial Science

The actuarial science major-business program develops your analytical and problem-solving skills for a career in risk management.

Preparing You For Success

You learn the basics of risk prediction and management as you prepare for actuarial science’s certification exams. Courses prepare you for three exams offered by the Society of Actuaries and Casualty Actuarial Society: P (Probability), FM (Financial Mathematics) and LTAM (Long Term Actuarial Mathematics).

The business actuarial science major is different than the major offered in the College of Liberal Arts and Sciences. Both majors require the same foundational courses, but you take Foster College’s required business core to complete the degree. The business background gives you an understanding of business operations valuable for a career in insurance, investment, financial risk management or employee benefits consulting.

By the time you graduate, your experiences may include:

  • Internship opportunities at companies such as Country Financial, RLI, Inc., AIG and Pekin Insurance
  • Networking and professional development through Gamma Iota Sigma risk management association, the Financial Management Association and Phi Chi Theta business fraternity

Making Your Mark

Actuarial science majors are valued in any financial setting that requires risk management analysis. In recent years, all Bradley actuarial science majors found jobs or continued to graduate school within six months of graduation. They are working for companies such as State Farm, John Deere, Blue Cross Blue Shield and Willis Towers Watson.

Major Requirements

Required Courses - 30 hrs.

  • MTH 121 Calculus I - 4 hrs.
  • MTH 122 Calculus II - 4 hrs.
  • MTH 223 Calculus III - 4 hrs.
  • MTH 207 Elementary Linear Algebra with Applications - 3 hrs.
  • MTH 325 Probability and Statistics I - 3 hrs.
  • MTH 326 Probability and Statistics II - 3 hrs.
  • MTH 335 Topics in Actuarial Science - 3 hrs.
  • MTH 335 Topics in Actuarial Science (repeated under different topics) - 3 hrs.
  • MTH 427 Applied Statistical Methods - 3 hrs.

Elective Programming Courses (choose one) - 3 or 4 hrs.

  • MIS 175 introduction to Developing Business Applications - 3 hrs.
  • CS 100 Introduction to Programming Concepts and Languages - 3 hrs.
  • CS 101 Introduction to Programming - 4 hrs.
  • CIS 102 Introduction to Computer Information Systems with Basic - 3 hrs.

Elective Tools Courses (choose one) - 3 hrs.

  • QM 326 Business Forecasting - 3 hrs.
  • QM 364 Decision Support Systems - 3 hrs.
  • FIN 426 Financial Research & Modeling - 3 hrs.
  • ECO 319 Introduction to Econometrics - 3 hrs.
  • MTH 435 Stochastic Processes - 3 hrs.
  • IME 313 Operations Research 1 - 3 hrs.

Elective Courses (choose three) - 9 hrs.

  • ECO 301 Money and Banking - 3 hrs.
  • FIN 325 Investment Analysis - 3 hrs.
  • FIN 327 Derivatives - 3 hrs.
  • FIN 328 Financial Institutions and Markets - 3 hrs.
  • FIN 423 Advanced Business Finance - 3 hrs.
  • FIN 425 Portfolio Theory - 3 hrs.
  • ASB 315 Risk and Insurance - 3 hrs.

Additional Requirements

  • All students must sit for at least one professional actuarial exam administered by the Society of Actuaries.