The Actuarial Concentration
The core of the concentration in actuarial studies consists of the courses listed below; these cover the material tested in five actuarial examinations and three subjects validated by educational experience (VEE) required for Associateship status.
There are also additional courses recommended. A strong undergraduate preparation would include most of the actuarial core courses and possibly some additional courses.
A grade of C- or better is required in order to meet the prerequisites listed below.
Core CoursesCalculus (M 408C/D, M 408N/S/M, M 408K/L/M or some similar sequence) - multiple sections are offered each fall, spring and summer semester.
Theory of Interest (ACF 329/M 389F) - two sections are offered each fall and spring semester, and occasionally in the summer. Prerequisite: M 408S, L or D.
Introductory Actuarial Financial Mathematics (ACF 129D) - offered each fall and spring semester. Students are recommended to take this course the semester immediately following ACF 329. Prerequisite: ACF 329 (or concurrent registration).
Probability I (M 362K) - multiple sections are offered each fall, spring and summer semester. This course covers 80% of the content for Exam P/1. Prerequisite: M 408S, L or D.
Linear Algebra (M 341 or M 340L) - multiple sections are offered each fall, spring and summer semester. Prerequisite: M 408S, L or D.
Statistics (M 358K or M 378K) - multiple sections are offered each fall, spring and summer semester. Prerequisite: M 362K.
Probability Models with Actuarial Applications (M 339J/M 389J) - offered in the spring semester only. Prerequisite: M 362K and M 358K (or M 378K).
Actuarial Contingent Payments I (M 339U/M 389U) - offered in the fall semester only. Students are strongly recommended to master all the material in M 362K and ACF 329 before enrolling in this course. Prerequisite: M 362K and/or current registration in both ACF 329 and M 341 (or M 340L).
At least two of the following four courses:
Actuarial Contingent Payments II (M 339V/M 389V) - offered in the spring semester only. M339U and 339V cover the content for the MLC Exam. Prerequisite: M 339U and ACF 329.
Financial Mathematics for Actuarial Applications (M 339W/M 389W) - offered in the fall semester only. This course covers most of the content for Exam MFE/3F. Prerequisite: ACF 329, M 362K and ACF 129D (or FIN 377.2).
Actuarial Statistical Estimates (M 349P/M 389P) - offered in the fall semester only. M 339J and M 349P cover the learning objectives for Exam C/4. Prerequisite: M 339J and M 341 (or M340L).
Applied Regression and Time Series (M 349R) - offered in the spring semester only. A grade of B- or higher will fulfill the VEE requirement in regression and time series. Prerequisite: M 358K or M 378K or any intro stats course with the consent of the director of actuarial studies.
The above courses are the most essential, and are the courses most often taken by students who major in something other than mathematics or business
Actuarial students whose major is not mathematics or in the business school need to petition the Red McCombs School of Business to enroll in restricted business major classes, including ACC 311, ACC 312, FIN 357, FIN 377.2, R M 357E, R M 369K and R M 377. Students who are working towards a BS in mathematics with the actuarial option have special permission to register in those classes.
Following are the rest of the actuarial core courses:
Accounting (ACC 311 & ACC 312 OR ACC 310F)
Economics (ECO 304K & ECO 304L) - grades of B- or higher in both courses will fulfill the VEE requirement in economics.
Finance (FIN 357)
Introductory computer programming (C S 303E or ASE 201 or MIS 304)
Computer programming (C S 313E or C S 326E or C S 327E)
Spreadsheet software knowledge - possibly with an online course.
Database software knowledge - possibly with an online course.