Actuarial Science 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.
CSUF’s Center for Insurance Studies (CIS) attracts and educates talented individuals who are committed to professional careers in insurance and risk management. CIS, in partnership with the Department of Mathematics, offers an undergraduate Actuarial Science Concentration as well as graduate actuarial science courses. The Center also provides actuarial workshops and exam study materials. In 2017, CIS was given the prestigious Global Center of Insurance Excellency (GCIE) award, presented by the International Insurance Society and selected by the Best’s Review as one of the top 20 RMI programs nationwide. For a short summary of our program you may download our brochure .
In addition to the Core Requirements of the department, the Actuarial Science concentration requires the following courses:
MATH 335 Mathematical Probability (3 units)
MATH 338 Applied Statistics (4 units)
MATH 435 Mathematical Statistics (3 units)
MATH 460 Actuarial Models (3 units)
FIN 415 Quantitative Theory of Interest (3 units)
FIN 444 Options and Futures (3 units)
and one of the following:
MATH 437 Modern Approaches to Data Analysis (4 units)
MATH 438 Introduction to Stochastic Processes (3 units)
MATH 439 Intermediate Data Analysis (3 units)
Along with the above courses, students are encouraged to complete the finance cognate by taking the following courses:
FIN 320 Financial Management I (3 units)
FIN 340 Introduction to Investments (3 units)
FIN 360 Principles of Insurance (3 units)
Students looking for Validation for Educational Experience (VEE) will need to take the following courses:
FIN 320 for Corporate Finance & Accounting
MATH 435 for Mathematical Statistics
ECON 201 & ECON 202 for Economics
Please see the prerequisite diagram of the courses required for this concentration.
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.
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.
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