Academics | Faculties | FACULTY OF NATURAL & APPLIED SCIENCES | Department of Mathematics and Statistics | Bachelor of Science in Actuarial Sciences | NDU
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The mission of the Bachelor of Actuarial Science program at NDU is:
  1. 1.To 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.To 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.To provide students with the theoretical background needed to qualify them to pursue graduate level education in Actuarial Science or related fields.

Total Credits
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August 2020
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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 completion of a Bachelor Degree in Actuarial Sciences, 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 catalog.

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.


Liberal Arts Curriculum (27cr.)

Suggested Program

Fall Semester Year I (15cr.)
ACO                  201                   Accounting I                                                     3 cr
MAT                  213                   Calculus III                                                       3 cr
MAT                  215                   Linear Algebra I                                                 3 cr
ECN                  211                   Micro Economics                                                3 cr
---                    ---                      LAC                                                                 3 cr
Spring Semester Year I (15cr.)
MAT                  224                   Calculus IV                                                        3 cr
MAT                  235                   Ordinary Differential Equations                           3 cr
ECN                  212                   Macro Economics                                               3 cr
ACO                  202                   Accounting II                                                     3 cr
----                   ----                      LAC                                                                  3 cr
Fall Semester Year II (16cr.)
CSC             (212 Or 216)           Program Design and Data Abstraction II              3 cr
MAT                  325                   Elements of Probability                                      3 cr
MAT                  206                   Financial Mathematics                                        3 cr
ACS                  300                   Actuarial Problem Solving                                  1 cr
---                    ----                   LAC                                                                  3 cr
----                   ----                   LAC                                                                  3 cr
Spring Semester Year II (15cr.)
ACS                  314                   Actuarial Mathematics I                                      3 cr  
ACS                  310                   General Insurance                                              3 cr
STA                  315                   Mathematical Statistics                                       3 cr
---                    - --                    Free Elective (BAF 311 for VEE)                          3 cr
---                    ---                    LAC                                                                  3 cr
Fall Semester Year III (15cr.)
ACS                  324                   Actuarial Mathematics II                                     3 cr
STA                  370                   Stochastic Processes                                           3 cr
ACS                  450                   Investment and Asset Management                   3 cr
---                    ---                    Free Elective (BAF 312 for VEE)                           3 cr
---                    ---                    LAC                                                        3 cr
Spring Semester Year III (18cr.)
ACS                  424                   Pension Fund                                                     3 cr
ACS                  330                   Insurance Law                                                   3 cr
STA                  312                   Regression and Time Series                                3 cr
---                    ---                    LAC                                                                  3 cr
---                    ---                    LAC                                                                  3 cr
---                    ---                    LAC                                                                  3 cr


Total 94 Credits
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