skip the i-GuideIllinois State UniversityAdmissions at ISUAcademics at ISUEvents at ISUMap of ISUISU A to Z ListingISU AccessibilityISU 150th Anniversary

CAS IT

Search CAS | 

College of Arts & Science | 

Actuarial Science at Illinois State University
Our faculty are engaged in cutting edge research, funded by various external agencies, and published in books and top-level journals.

Advising

This sequence of the major is designed to prepare students to work as actuaries in the insurance industry or as actuarial consultants dealing with the risk of potential financial losses. Students can review all classes required and plan their course of study based on the information provided below. You can also review additional information about typical obstacles encountered by actuarial students. Note also that the University College Academic Advisement Center recommends these classes for the first year in he actuarial science sequence in mathematics.

Major Course Requirements

Course (Credit Hours)
Description
MAT 145 (4 hours)
 Calculus I.
MAT 146 (4 hours)
 Calculus II (preresuisite: MAT 145).
MAT 147 (4 hours)
 Calculus III (prerequisite: MAT 146).
MAT 175 (4 hours)
 Linear Algebra (prerequisite: MAT 146)

MAT 280 (4 hours)

 


 Financial Mathematics (generally offered only in the Spring, although sometimes it may be offered in the Fall; prerequisite: MAT 146, with a grade of at least a B). This class covers fully the material tested on the second actuarial examination (the Society of Actuaries Course FM, same as the Casualty Actuarial Society Course 2, examination).  Illinois State University Actuarial Program also offers a non-credit intensive review for this actuarial examination.

MAT 350 (4 hours) 

 


 Applied Probability Models (prerequisite: MAT 147). This class covers fully the material tested on the first actuarial examination (the Society of Actuaries Course P, same as the Casualty Actuarial Society Course 1, examination). Illinois State University Actuarial Program also offers a non-credit intensive review for this actuarial examination.
MAT 351 (4 hours)
Statistics and Data Analysis (prerequisite: MAT 350, with a grade of at least a C).
MAT 353 (4 hours)
Regression and Time Series Analysis (offered only in the Fall, prerequisite: MAT 351). This class is an approved VEE Applied Statistics course.

MAT 380 (4 hours) 

 


 Actuarial Models I (offered only in the Fall, prerequisites: MAT 280 and MAT 350, with a grade of at least a B in both). This class covers the life contingencies portion of the material tested on the third actuarial examinations (the Society of Actuaries Course M or the Casualty Actuarial Society Course 3 examinations). Illinois State University Actuarial Program also offers a non-credit intensive review for the Society of Actuaries Course M examination (both MLC and MFE parts).

MAT 383 (4 hours)

 


 Actuarial Models II (offered only in the Fall, prerequisites: MAT 280 and MAT 350, with a grade of at least a B in both). This class covers the material tested on the third actuarial examinations (the Society of Actuaries Course M or the Casualty Actuarial Society Course 3 examinations) other than life contingencies material covered in MAT 380 and statistics material covered in MAT 351. Illinois State University Actuarial Program also offers a non-credit intensive review for the Society of Actuaries Course M examination (both MLC and MFE parts).
MAT 384 (4 hours)
Actuarial Modeling (offered only in the Spring, prerequisite: MAT 351 with a grade of at least a C). This class covers fully the material tested on the fourth actuarial examinations (the Society of Actuaries Course C or the Casualty Actuarial Society Course 4 examinations).
ACC 131 (3 hours)
Financial Accounting (sophomore standing required).
ACC 132 (3 hours) 
Managerial Accounting (prerequsite: ACC 131).
ECO 105 (4 hours) Principles of Economics. This class is an approved VEE Economics course.

FIL 242 (3 hours)

 

 Investments. This class has special prerequsites for actuarial students (replacing those listed in the official catalog): ACC 131, ACC 132, MAT 280, and MAT 350. After fulfilling the prerequisites, actuarial students must request permission to take this class from Ms. Nancy Baldoni is the College of Business Advising Center. This class, in combination with FIL 341 (Intermediate Business Finance) is an approved VEE Finance course. Actuarial students should plan to take this class in the Fall.

FIL 341 (3 hours)

 


 Intermediate Business Finance. This class has special prerequsites for actuarial students (replacing those listed in the official catalog): ACC 131, ACC 132, MAT 280, and MAT 350. After fulfilling the prerequisites, actuarial students must request permission to take this class from Ms. Nancy Baldoni is the College of Business Advising Center. This class, in combination with FIL 242 (Investments) or MAT 483 (Mathematical Models in Finance and Investments) is an approved VEE Finance course. Actuarial students should plan to take this class in the Spring.
FIL 250 (3 hours)
Introduction to Risk and Insurance (junior standing required).
ITK 168 (4 hours)
Structured Problem Solving Using the Computer.

Senior Portfolio is also required. Students are encouraged to take MAT 283 (Introduction to Actuarial Computing, offered only in the Fall), MAT 298 (Professional Internship), and seminars for actuarial examinations (seminars for the first two exams are offered free of charge to Illinois State University students, and actuarial majors are urged to plan to pass the first two examinations by the time they graduate) offered through the ISU Conference Unit at Extended University.

Graduation Requirements

Complete a minimum of 120 hours, complete General Education requirements, complete at least 42 senior level hours, complete residency requirements, pass the federal and state constitution tests, complete a global studies course, maintain a GPA of 2.5 in the major, as well as a GPA of 2.0 overall, and submit the senior portfolio.

Effective with the 2005-06 Undergraduate Catalog all graduates of the College of Arts and Sciences must satisfy a foreign language requirement that may be met by: 3 years of a single foreign language in high school or completion of the second semester or higher of college-level foreign language (FOR 112 or articulated course) with a grade of "C" or better or equivalent proficiency as determined by examination. American Sign Language may be used to fulfill this requirement by transfer credit or by proficiency.

 

For more information, please contact

Dr. Krzysztof Ostaszewski, FSA, CFA, MAAA
Actuarial Program Director
Department of Mathematics
Campus Box 4520
Normal, IL  61790-4520
E-mail:

You may also want to consult Current Academic Catalog.