The master's program prepares students for careers in the actuarial profession by emphasizing the theory that underlies risk processes and applications of this theory to problems of insurance and pension pricing and management. The required course work helps the students prepare for the first five examinations of the Society of Actuaries and the first four of the Casualty Actuarial Society. The Graduate College requires a cumulative GPA of at least 2.75. This includes all courses used to meet degree requirements plus additional courses that are relevant to the student's program. Students generally complete at least 36 semester hours of approved course work to earn the M.S. The master's degree in Actuarial Science is available without thesis. The required courses are as follows. All of these: 22S:150 Regression, Time Series, and Forecasting 22S:171 Topics in Actuarial Science 22S:174 Quantitative Methods for Actuaries 22S:175 Actuarial Models 22S:176 Credibility and Loss Distributions 22S:180 Mathematics of Finance I 22S:181-182 Life Contingencies I-II 22S:183 Mathematics of Finance II One of these sequences: 22S:153-154 Mathematical Statistics I-II 22S:193-194 Statistical Inference I-II (for well-prepared students) Here is a sample schedule for most actuarial students. Year Fall Semester Spring Semester 1 22S:153 Mathematical Statistics I 22S:174 Quantitative Methods for Actuaries 22S:180 Mathematics of Finance I 22S:154 Mathematical Statistics II 22S:175 Actuarial Models 22S:181 Life Contingencies I 2 22S:150 Regression, Time Series and Forecasting 22S:182 Life Contingencies II 22S:183 Mathematics of Finance II 22S:171 Topics in Actuarial Science 22S:176 Credibility and Loss Distributions 6F:117 Corporate Finance Students who have already completed a course equivalent to 22S:153 can finish all course work requirements in three semesters by taking four courses each semester. Here is a sample schedule. Year Fall Semester Spring Semester 1 22S:154 Mathematical Statistics II 22S:174 Quantitative Methods for Actuaries 22S:180 Mathematics of Finance I An approved elective 22S:171 Topics in Actuarial Science 22S:175 Actuarial Models 22S:176 Credibility and Loss Distributions 22S:181 Life Contingencies I 2 22S:150 Regression, Time Series and Forecasting 22S:182 Life Contingencies II 22S:183 Mathematics of Finance II 6F:213 Futures and Options   M.S. Final (Comprehensive) Exam Students must also successfully pass the M.S. Final (Comprehensive) Exam which is given in January. The exam will cover the material in 22S:175, 181, 182 and 183. Students who are unsuccessful in their first attempt may repeat the exam only one time. Plan of Study The applicant for a master's degree must file a Plan of Study, approved by the advisor and the DEO, with the Graduate College within the session in which the comprehensive exam is taken, and by a date to be established by the Graduate College dean. The Plan shall meet the requirements for the degree approved by the graduate faculty. If a student makes a change in his or her Plan of Study (i.e., adds or deletes a course), he or she must file an Application for Change in Plan of Study. Application for Degree The student must file an application for an anticipated degree with the Registrar not later than ten weeks after the start of the semester or one week after the start of the summer session in which the degree will be conferred. The student must have the application signed by his or her advisor. Failure to file the application for Degree by the deadline will result in postponement of graduation to a subsequent session. Students must be registered for the semester in which they graduate. Students who have completed their coursework may register for 000:001 Masters Final Registration for 0 s.h. with their advisor's approval. The Ph.D. Degree We do not have a formal Actuarial Science Ph.D. program at the University of Iowa. Students who desire to work on a Ph.D. in Statistics with concentration in actuarial science/financial mathematics are cautioned that this is a very selective and highly mathematical program.

Copyright c. 2007 The University of Iowa. All Rights Reserved. Photography c. UI Photo Service and University Relations, University of Iowa This page was last modified on Wednesday, 14-Nov-2007 12:44:59 CST. /ts