The Minor in Actuarial Science, which is administered by the Department of Mathematics within the College of Natural Science, is available as an elective to students who are enrolled in any bachelor’s degree program at Michigan State University. This minor complements a number of major fields such as mathematics, statistics and probability, finance, and economics. It is intended to prepare students for work in insurance companies, banks, investment firms, government work, hospitals and business firms where there is a need to weigh the financial consequences of risk. The Minor in Actuarial Science prepares students for two of the examinations of the Society of Actuaries (SOA): Exam P/1 and Exam FM/2. With the approval of the department that administers the student’s degree program, courses that are used to satisfy the requirements for the minor may also be used to satisfy the requirements for the bachelor’s degree.
Requirements for the Minor in Actuarial Science
The student must complete all of the following courses (21 credits):
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All of the following courses (18 credits): |
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FI |
311 |
Financial Management |
3 |
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FI |
321 |
Theory of Investments |
3 |
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MTH |
360 |
Theory of Mathematical Interest |
3 |
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MTH |
361 |
Financial Mathematics for Actuaries I |
3 |
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STT |
441 |
Probability and Statistics I: Probability |
3 |
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STT |
455 |
Actuarial Models I |
3 |
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One of the following courses (3 credits): |
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MTH |
457 |
Introduction to Financial Mathematics |
3 |
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STT |
442 |
Probability and Statistics II: Statistics |
3 |