Academics | Faculties | FACULTY OF NATURAL & APPLIED SCIENCES | Department of Mathematics and Statistics | Bachelor of Science in Actuarial Sciences | NDU

Mission

The mission of the Bachelor of Actuarial Science program at NDU is to:
  1. 1.Produce graduates who can contribute significantly to the financial security of individuals and corporations through proper training on how to identify, quantify, assess and manage risk;
  2. 2.Provide students with a curriculum aligned in content and rigor with the learning outcomes of the Society of Actuaries. Such program prepares our graduates to successfully write at least three of the preliminary exams of the SOA, leading towards professional designations from international actuarial societies;
  3. 3.Provide students with the theoretical background needed to qualify them to pursue graduate level education in Actuarial Science or related fields.

Total Credits
94
Apply Before
August 2021
Apply now

Program Educational Objectives

Graduates of the Bachelor Degree in Actuarial Science will be able to:

  1. 1.Practice as professional risk analysts who provide solutions for financial and business problems involving uncertain future events.;
  2. 2.Sit for some of the professional actuarial exams of the Society of Actuaries (SOA), Casualty Actuarial Society (CAS) or Institute of Actuaries (IoA) as partial fulfillment of the requirement of actuarial designations such as ASA (Associate in the SOA), ACAS (Associate in the CAS) or FIA ( Fellow of IoA);
  3. 3.Secure themselves acceptance in graduate level education in Actuarial Science or related field;
  4. 4.Exhibit compliance with the code of professional and ethical conduct promulgated by the above mentioned international actuarial societies.

Program Learning Outcomes

Upon graduation, students will be able to:

  1. 1.Demonstrate fundamental knowledge of applied mathematics in the areas of Calculus, Linear Algebra, Differential Equations and Statistics;
  2. 2.Demonstrate their understanding of Economics, Accounting, Finance and Statistics courses that have been approved for Validation by Educational Experience (VEE) by the Society of Actuaries for the topics of Economics, Applied Statistics and Corporate Finance;
  3. 3.Demonstrate their understanding of NDU courses covering the learning objectives of the following professional actuarial examinations: Probability (P), Financial Mathematics (FM) and Actuarial Models-Life Contingency (MLC);
  4. 4.Demonstrate the ability to apply actuarial concepts to problems related to financial security planning such as pension funding, pricing and reserving for life and casualty insurance;
  5. 5.Demonstrate the ability to apply actuarial modeling through the use of computer programming routines within spreadsheets;
  6. 6.Appreciate the meaning of belonging to a professional organization, the ethical and technical qualifications needed to become and remain a member of the actuarial profession.

Students enrolled in the B.S. degree will be prepared to take a series of examinations in actuarial science leading to ASA and ACAS designation under the American Society of Actuaries (ASA) and Casualty Actuarial Society (ACAS). They also would benefit from VEE (Validation by Educational Experience) approved credits for Economics, applied statistics and corporate finance required for the attainment of the above mentioned designation.

Admission Requirements

For admission requirements to the degree of B.S. in Actuarial Sciences, refer to the section entitled “Undergraduate Admission” of this website.

Graduation Requirements

To receive the degree of B.S. in Actuarial Sciences, a student must fulfill all requirements of the degree program, complete all required courses, accumulate a total of 94 credits with an overall GPA of at least 2.0/4.0 and a minimum GPA of 2.0/4.0 in both the core and major requirements, and clear all accounts with the University. Candidates for degrees are reminded that grades of “I” assigned during the last semester to courses required for graduation will result in delaying of graduation.

Courses

Liberal Arts Curriculum (27cr.)

Suggested Program

Fall Semester Year I (15cr.)
ACO 201 Accounting I
3 cr.
MAT 206 Financial Mathematics 3 cr.
MAT 213
Calculus III 3 cr.
MAT
215
Linear Algebra I
3 cr.
    LAC 3 cr.
Spring Semester Year I (15cr.)
ACO 202 Accounting II
3 cr.
ACS
375
Modelling Techniques in Actuarial Practice 3 cr.
MAT
224
Calculus IV 3 cr.
MAT
325
Elements of Probability
3 cr.
    LAC
3 cr.
Fall Semester Year II (16cr.)
ACS 300
Actuarial Problem Solving
1 cr.
ACS
310
General Insurance 3 cr.
ECN
211
Principles of Microeconomics 3 cr.
MAT
235
Ordinary Differential Equations
3 cr.
STA
315
Mathematical Statistics
3 cr.
    LAC
3 cr.
Spring Semester Year II (15cr.)
ACS 314
Actuarial Mathematics I
3 cr.
CSC
212 OR 216
Program Design and Data Abstraction II 3 cr.
ECN
212
Principles of Macroeconomics 3 cr.
STA
312
Introductory Time Series Analysis
3 cr.
    LAC
3 cr.
Fall Semester Year III (15cr.)
ACS 324
Actuarial Mathematics II
3 cr.
ACS
450
Investment and Asset Management 3 cr.


Free Elective (BAF 311 for VEE) 3 cr.


LAC
3 cr.
    LAC
3 cr.
Spring Semester Year III (18cr.)
ACS 424
Pension Fund Mathematics
3 cr.
STA
370
Stochastic Processes 3 cr.


Free Elective (BAF 312 for VEE) 3 cr.


LAC
3 cr.
    LAC
3 cr.
    LAC
3 cr.

GRADUATION REQUIREMENTS

Total 94 Credits
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