Actuarial Science
Actuaries participate in high-level business decision-making and solve real problems in every industry
Actuarial Science, B.S.
The Actuarial Science major is designed for students who have strong mathematical abilities with an interest in applying that knowledge to insurance, finance, risk management, investments, and other areas of business.
Actuarial Science majors take courses in mathematics, statistics, economics, and insurance designed to help prepare for preliminary examinations from the actuarial professional societies and to succeed in the field. MTSU students also have opportunities to interact with industry professionals and earn scholarships and internships. MTSU is the only university in Tennessee that offers actuarial science coursework for both undergraduate and graduate degrees.
News Briefs
Major organization recognizes MTSU as ‘Center of Actuarial Excellence’
Middle Tennessee State University mathematical sciences professor Don Hong has been waiting years for this news: MTSU recognized as a Society of Actuaries Center of Actuarial Excellence.[ Read More ]
‘Out of the Blue’ features MTSU’s acclaimed Actuarial Science program [+VIDEO]
The March episode of the MTSU “Out of the Blue” television magazine show highlights the award-winning Actuarial Science program in the College of Basic and Applied Sciences, teaching students how to solve real problems in every industry.[ Read More ]
News Briefs
Major organization recognizes MTSU as ‘Center of Actuarial Excellence’
Middle Tennessee State University mathematical sciences professor Don Hong has been waiting years for this news: MTSU recognized as a Society of Actuaries Center of Actuarial Excellence.[ Read More ]
‘Out of the Blue’ features MTSU’s acclaimed Actuarial Science program [+VIDEO]
The March episode of the MTSU “Out of the Blue” television magazine show highlights the award-winning Actuarial Science program in the College of Basic and Applied Sciences, teaching students how to solve real problems in every industry.[ Read More ]
Actuarial Science, B.S.
Graduates of the Actuarial Science (B.S.) major are in high demand in the fields of insurance, finance, risk management, and pension industries, as they have the skills and knowledge to analyze and solve complex problems risk measurement and loss prediction. Actuaries are also in demand in government and academia, as well as in roles related to data science and machine learning. Overall, the demand for actuarial professionals is expected to remain strong in the future.
Examples of potential positions include:
- Actuarial analyst
- Actuarial auditor
- Annuity pricing actuary
- Chief actuary / vice president
- Consulting actuary
- Data analyst
- Financial actuary
- General liability actuary
- Health actuary
- Investment researcher
- Investment valuation analyst
- Life reinsurance pricing analyst
- Life valuation analyst
- Model validation financial actuary
- Mortality valuation analyst
- Product actuary
- Risk and hedging analyst
- Risk management analyst
- Specialty pricing actuary
- Underwriter
Employers of MTSU alumni include
- Acuff and Associates
- Aetna
- Alfa Insurance
- American General Life and Accident Insurance Co.
- Bank of China
- Blue Cross Blue Shield of Tennessee
- BPS&M — Wells Fargo Co.
- Caterpillar Finance
- China Actuarial Society
- China PingAn Insurance
- Cigna
- Consumers Insurance
- Direct General Group of Companies
- Farm Bureau Insurance
- Farmers Insurance
- First Acceptance Insurance
- Genworth Financial
- Humana Inc., Kentucky
- Humana Inc., Texas
- Lincoln Financial Group
- Nationwide Insurance
- Select Actuarial Services
- Sinokorea Life Insurance Co.
- Sigma Actuarial Consulting Group, Inc.
- State Farm Insurance
- Towers and Watson, Memphis
- Towers and Watson, Atlanta
- Travelers Insurance
- Willis North America Inc.
- Zurich Insurance
MTSU’s Career Development Center
MTSU offers a comprehensive Career Development Center that serves students throughout the full student experience and beyond. They collaborate with faculty and staff to equip students with the tools to be marketable to the world of work and continuing education.
Students can schedule an appointment or check online resources and job boards at mtsu.edu/career.
Students can find current internship opportunities by talking to faculty and visiting the University job and internship board called Handshake .
Wondering what you can do with your major? Check out our What Can I Do with A Major In guides.
Links
- Actuarial Math Student Association
- Actuarial Science Student Achievements
- Casualty Actuarial Society (CAS)
- Society of Actuaries (SOA)
- SOA Exams and Requirements
Scholarships
- Department of Mathematical Sciences Awards
- for current students majoring in Mathematics.
- MTSU Scholarships
- awards for new and transfer students available directly from the University or throughthe MTSU Foundation.
- MTSU FInancial Aid Office
- check here to procure financial aid.
- Martin Chair of Insurance, Jones College of Business
- many of our students receive guidance and scholarships from the Martin Chair.
- Gamma Iota Sigma (GIS)
- this insurance fraternity is a great support organization; students can also obtain scholarships from GIS.
- Casualty Actuaries of the Southeast (CASE) Scholarships
- actuarial organization makes yearly awards.
- Casualty Actuarial Society (CAS)/Society of Actuaries (SOA) Actuarial Scholarships for Minority Students
- a scholarship program designed to increase minority presence in actuarial science.
- Actuarial Foundation Scholarships
- awards for actuarial students.
- National Association of Insurance Women (NAIW)
- this organization offers scholarships of up to $4,000 to students majoring in insurance or risk management.
- W. Simpson & Company Actuarial Science Scholarship Program
- from the well-known actuarial placement firm for actuarial students with one exam.
- FinAid! Website
- a public service website for college financial aid.
Exam Preparation
For individuals preparing for the Society of Actuaries (SOA)/ Casualty Actuarial Society(CAS) actuarial examinations.
- All common examinations (SOA/CAS ExamsP/1, FM/2, MFE/3F, MLC/3L, C/4) and three VEEcourses are supported.
- Certain courses are offered in late afternoons or evenings to support industry personnel.
SOA/CAS Course/Exam 1-Mathematical Foundations of Actuarial Science
- ACSI 4140/5140 Mathematical Foundations of Actuarial Science
SOA/CAS Course/Exam 2-Interest Theory, Economics, and Finance
- ACSI 4230/5230 Mathematics of Compound Interest
- ACSI 4240/5240 Mathematics of Interest Theory, Economics and Finance
SOA/CAS Course/Exam 3-Actuarial Models for Life Contingencies
- ACSI 4330/5330 Actuarial Mathematics I
- ACSI 4340/5340 Actuarial Mathematics II
SOA/CAS Exam MFE/3F Models for Financial Economics
- ACSI 4630/5630 Mathematics of Risk Management
- ACSI 4640/5640 Mathematics of Options, Futures & Other Derivatives
SOA/CAS Exam C/4: Construction and Evaluation of Actuarial Models
- ACSI 6010 Credibility Theory and Loss Distributions
- ACSI 6020 Construction and Evaluation of Actuarial Models
SOA/CAS VEE Course — Economics
- ECON 2410 Principles of Economics, Macroeconomics
- ECON 2420 Principles of Economics, Microeconomics
SOA/CAS VEE Course — Corporate Finance
- ACSI 4220/5220 Mathematics of Pricing Theory
SOA/CAS VEE Course — Applied Statistics
- STAT 4220/5220 Statistical Methods for Forecasting
Program Advisory Board
- Tommy Axford, FSA, MAAA, vice president and consulting actuary, Aon Hewitt, Franklin,Tenn.
- Lori Michelle Bradley, MAAA, ACAS, CERA, consulting actuary, SIGMA Actuarial Consulting Group, Brentwood, Tenn.
- Mandy Lee Bratten, MAAA, EA, FSA, consulting actuary, Bryan Pendleton Swats & McAllister LLC, Brentwood, Tenn.
- John Edward Daniel, MAAA, FCAS, vice president and consulting Actuary, Willis North America, Nashville
- Brian LePage, ACAS, MAAA, vice president and chief actuary, Caterpillar Insurance, Nashville
- Mary Frances Miller, FCAS, MAAA, CPCU, ARe, AIM, Select Actuarial Services, Nashville
- Jeremy Richardson, ACAS, MAAA, consulting actuary and assistant vice president, WillisTowers Watson Casualty Actuarial Practice, Nashville
- Jim H. Srite, FSA, MAAA, senior vice president and chief actuary, Blue Cross/Blue Shield of TN
- Richard Waggoner, MAAA, FSA, Aetna Senior Supplemental Insurance, Franklin, Tenn.
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