Actuarial Science Concentration
Actuarial Science Concentration is the newest concentration created in the Department of Mathematics. Undoubtedly, it is the fastest growing concentration! Currently, there are only three programs in California recognized as Universities and Colleges with Actuarial Programs – Advanced Curriculum (UCAP - AC) by the Society of Actuaries, and CSUF proudly represents one of them. This designation means that our program has courses, approved the Society of Actuaries, that target at least four different actuarial exams.
Our student passing rates for these exams are higher than the national averages. These results reflect the quality of our program and the effectiveness of the no-cost preparation workshops offered to students every summer. See professional licensure and certification program disclosures.
In addition to the Core Requirements of the department, the Actuarial Science concentration requires the following courses:
MATH 335 Mathematical Probability (4 units)
MATH 338 Applied Statistics (4 units )
MATH 435 Mathematical Statistics (4 units )
MATH 437 Modern Approaches to Data Analysis (4 units)
MATH 460 Actuarial Models (4 units )
MATH 461 Investment and Financial Markets (4 units)
ECON 201 Micro Economics (3 units)
FIN 320 Corporate Finance (3 units)
FIN 360 Principles of Risk Mgmt. & Insurance (3 units)
FIN 415 Quantitative Theory of Interest (3 units )
Actuaries analyze the financial costs of risk and uncertainty. They use mathematics, statistics, and financial theory to assess the risk of potential events, and they help businesses and clients develop policies that minimize the cost of that risk. Actuaries’ work is essential to the insurance industry.
Actuaries are highly sought-after professionals who develop and communicate solutions for complex financial issues. Most actuaries work for insurance companies. Although most work full time in an office setting, some actuaries who work as consultants may travel to meet with clients.
According to Bureau of Labor Statistics, the median salary for an actuary was $100,610 per year (2016) or $48.37 per hour. Employment of actuaries is projected to grow 22 percent from 2016 to 2026, much faster than the average for all occupations.
Andrew Nguyen, Full-Time Lecturer of Mathematics, Statistics, Actuarial Sciences
Jeffrey Jolley, Fellow, Society of Actuaries, Full-Time Lecturer of Finance