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

Program Educational Objectives

Graduates of the bachelor's degree in Actuarial Sciences will be able to:

1.Practice as professional risk analysts who provide solutions for financial and business problems involving uncertain future events.;
2.Sit for select professional actuarial exams of the Society of Actuaries (SOA), Casualty Actuarial Society (CAS) or Institute of Actuaries (IoA) in 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.Secure themselves acceptance in graduate level education in Actuarial Sciences or related fields; and
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.Demonstrate fundamental knowledge of applied mathematics in the areas of Calculus, Linear Algebra, Differential Equations and Statistics;
2.Demonstrate their proficiency in the Economics, Accounting, Finance and Statistics courses that approved for Validation by Educational Experience (VEE) by the Society of Actuaries for the topics of Economics, Applied Statistics and Corporate Finance;
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.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.Demonstrate the ability to apply actuarial modeling through the use of computer programming routines within spreadsheets; and
6.Appreciate the belonging to a professional organization, the ethical and technical qualifications needed to become and remain a member of the actuarial profession.

Admission Requirements

All first-year applicants must complete the Admission Requirements.

Graduation Requirements

To receive the BS 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 their last semester to courses required for graduation will result in delaying of graduation.

Courses

Liberal Arts Curriculum (27cr.)

English & Arabic Communication (9cr.)

English Communication (6cr.)

Arabic Communication (3cr.)

One course from:

Religion (3cr.)

One course from:

Ethics (3cr.)

3 CSC 203 Information Age & Ethics

Cultural Studies & Social Science (3cr.)

Cultural Studies (3cr.)

Social Science (3cr.)

Citizenship (3cr.)

One course from:

Applied & Life Sciences (6cr.)

Applied Science (3cr.)

One course from:

Life and Natural Sciences (3cr.)

One course from:

Core Requirements (33cr.)

Major Requirements (28cr.)

Free Electives (6cr.)

Recommended:

3 BAF 311 Principles of Financial Management I

3 BAF 312 Principles of Financial Management II

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.