Earn your BS in Actuarial Science
Due to the demanding nature of the actuarial science major and the difficulty of the professional examinations, the department maintains a selective admission program for actuarial science. Students must apply and be admitted to the major.
Students interested in becoming actuaries should declare an interest in actuarial science as their major when they enter the University of Iowa. Ordinarily, students apply for admission to the actuarial science major in the fall semester of their sophomore year, after they have taken MATH:3770 Fundamental Properties of Spaces and Functions I or MATH:2850 Calculus III, and STAT:3100 Introduction to Mathematical Statistics I. Students should apply no later than the end of the spring semester of their junior year.
Students admitted to the actuarial science major usually have completed at least 40 semester hours at the university or at another postsecondary institution, including a three- or four-course calculus sequence, a course in linear algebra, and a calculus-based course in probability and statistics. The admission decision is based on a student's performance in these courses and other courses relevant to success in the major. ACT or SAT scores are considered in evaluating transfer students. Factors such as work ethic, enthusiasm, and commitment also may be considered. Students who do well in the prerequisite math courses tend to be the most successful in actuarial science.
For application forms and more information about selective admission, contact the Department of Statistics and Actuarial Science.
Requirements and program planning
Students will:
- Be able to bring to bear actuarial, financial, mathematical, and statistical techniques to model and analyze risks, particularly in the context of insurance and pension;
- Have the knowledge and analytical ability to pass the initial professional actuarial examinations given by the Society of Actuaries and Casualty Actuarial Society, and develop the skills needed for successful self-study of the advanced professional examinations;
- Be skillful in using and developing computer software to solve actuarial problems;
- Be able to clearly communicate results from an actuarial analysis to all stakeholders, and write effective reports that describe the analysis and summarize important findings; and
- Possess a basic understanding of insurance and business operations.
The Bachelor of Science in Actuarial Science requires a minimum of 120 semester hours, including 51 semester hours of work for the major. Students must maintain a grade-point average (GPA) of at least 2.00 in all courses for the major and in all UI courses for the major. They also must complete the College of Liberal Arts and Sciences GE CLAS Core.
The program prepares students for careers as actuaries. It also helps them learn material that is included in professional examinations administered by professional organizations such as the Society of Actuaries and the Casualty Actuarial Society.
Students take a variety of actuarial science courses. They prepare for business aspects of the actuarial profession by studying accounting, law, finance, insurance, and economics. They also complete courses that enhance important communication skills, such as writing and speaking, as part of their GE CLAS Core requirements.
Courses required for the major
| Course number | Course name | Semester hours |
|---|---|---|
| CS:1210 | Computer Science I: Fundamentals | 4 |
| Course number | Course name | Semester hours |
|---|---|---|
| MATH:1850 | Calculus I | 4 |
| MATH:1860 | Calculus II | 4 |
| MATH:2700 | Introduction to Linear Algebra | 4 |
| MATH:2850 | Calculus III | 4 |
| MATH:3770 | Fundamental Properties of Spaces and Functions I | 4 |
| Course number | Course name | Semester hours |
|---|---|---|
| ACTS:3080 | Mathematics of Finance I | 3 |
| ACTS:4130 | Quantitative Methods for Actuaries | 3 |
| ACTS:4150 | Fundamentals of Short-Term Actuarial Mathematics | 3 |
| ACTS:4180 | Life Contingencies I | 3 |
| ACTS:4280 | Life Contingencies II | 3 |
| STAT:3100 (IGPI:3100) | Introduction to Mathematical Statistics I | 3 |
| STAT:3101 (IGPI:3101) | Introduction to Mathematical Statistics II | 3 |
| STAT:4100/IGPI:4100 | Mathematical Statistics I | 3 |
| STAT:4101:IGPI:4101 | Mathematical Statistics II | 3 |
Create your academic path
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Current course list
The MyUI Schedule displays registered courses for a particular session and is available to enrolled students. The list view includes course instructors, time and location, and features to drop courses or change sections.
Center of Actuarial Excellence
The SOA is pleased to award the University of Iowa the CAE designation for another period of five years expiring Dec. 31, 2024.
The Society of Actuaries’ (SOA) Centers of Actuarial Excellence Evaluation Committee (CEC) congratulates the University of Iowa for having maintained the criteria of the Centers of Actuarial Excellence (CAE) designation. The department’s actuarial science program is one of only two in the U.S. that are over 100 years old. In 2010, it was one of the first to be certified as a Center of Actuarial Excellence (CAE) by the Society of Actuaries (SOA), after a detailed review process involving curriculum, faculty composition, graduate quality, connection to industry, and research/scholarship. The SOA review committee stated that “Iowa’s job placement record, exam pass rates and credentialed graduate rates are exceptional.”
The actuarial science program prepares students for careers as actuaries. It helps them learn material that is included in professional examinations administered by the Society of Actuaries, which actuarial students must pass in order to achieve professional status. In addition to actuarial science courses, students can take courses in preparation for business aspects of the actuarial profession such as accounting, law, finance, insurance, and economics. The Society of Actuaries (SOA) has recognized University of Iowa’s actuarial science program as a Center of Actuarial Excellence (CAE). There are eight criteria for the designation, including curriculum, faculty composition, graduate quality, connection to industry, and research/scholarship.
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