The IU Online BS in Actuarial Science offers instruction in mathematics, actuarial mathematics, probability and statistics, finance, statistical modeling, data analysis, and software application.  

Study the key concepts of insurance, risk management, and interest theory. Solve conceptual and computational problems. Learn to price-risk to determine premiums, analyze data, determine suitable models and parameter values, and provide measures of confidence. Calculate present and accumulated values for various streams of cash flow. 

The learning outcomes for this BS align with actuarial science core competencies as outlined by professional organizations such as the Society of Actuaries and the American Academy of Actuaries. This program prepares you for success in the first two professional exams in actuarial science and provides the foundation for subsequent exams. 

Your IU Online BS in Actuarial Science prepares you for such careers as:  

• Actuary 
• Insurance analyst 
• Market research analyst  
• Management analyst 
• Financial manager/analyst 
• Actuarial consultant  

Learning Outcomes

1. Knowledge in Basic Mathematics: Students will utilize tools from multivariate calculus to answer conceptual
   and computational problems related to probability and statistics.
2. Knowledge in Basic Actuarial Mathematics: Students will be able to explain basic terms and concepts in
   actuarial mathematics, such as basic knowledge of insurance, risk management, and interest theor
3. Application of Probability/Statistics in Actuarial Science: Students will be able to employ fundamental
   probability tools for quantitatively assessing risk and solving actuarial problems.
4. Knowledge in Mathematical Finance: Students will use the fundamental concepts of financial mathematics
   to demonstrate the ability to calculate present and accumulated values for various streams of cash flow as a
   basis for future use in reserving, valuation, pricing, asset/liability management, invest income, capital
   budgeting, and valuing contingent cash flows.
5. Mathematical Statistical Modeling: Students will use mathematical-finance modeling in solving business
   problems in a variety of fields, including insurance, finance, investment, and other businesses.
6. Data Analysis: Students will analyze data from applications in a business context, determine a suitable
   model including parameter values, and provide measures of confidence for decisions based upon the model.
7. Software Application: Students will demonstrate proficiency with programming in a standard statistical package, such as SAS or R.

IU Collaborative B.S. Actuarial degree requirements 

To earn the B.S. in Actuarial Studies, students must complete the standard campus-and school-specific degree requirements, including the general education of their campus of enrollment, and the 77 hours required for the B.S. in Actuarial Studies.  

The IU Online collaborative B.S. in Actuarial Studies requires 77 credits overall. Students must complete the indicated number of credits form each of the five degree components listed below: 

• Mathematics (31 credit hours)  
• Actuarial Science (9 credit hours) 
• Programming/Computer Science (6 credit hours) 
• Business and Economics (15 credit hours)
• Upper- level Actuarial Science which will double-count towards a M.S. in Actuarial Science (15 credit hours) 

1. MATH-M 215 Calculus I (5 credits)  
2. MATH-M 216 Calculus II (5 credits)  
3. MATH-M 301 Linear Algebra and Applications OR  MATH-M 303 Linear Algebra (3 credits)  
4. MATH-M 311 Calculus III (3 credits)   
5. MATH-M 313 Elementary Differential Equations with Applications OR MATH-M 343 Differential Equations (3 credits)  
6. MATH-M 447 Mathematical Modeling and Application I (3 credits)  
7. MATH-M 448 Mathematical Modeling and Application II (3 credits)  
8. Complete one of the following two course/6 credit hour probability and statistics sequences: 

• MATH-M 360 Elements of Probability and MATH-M 366 Elements of Statistical Inference* 

OR  

• MATH-M 463 Probability (3 credits) and MATH-M 466 Statistics (3 credits)** 

 * Students taking the M360/M366 sequence for probability and statistics should complete MATH-M 367 Introduction to Statistical Programming in R in the Programming/Computer Science Core (see below). 

**Students taking the M463/M466 sequence for probability and statistics should take STAT-I 421 Modern Statistical Modeling Using R and SAS in the Programming/Computer Science Core (see below).

II. Actuarial Science Core Courses (9 credits)  

1. MATH-M 320 Theory of Interest (3 credits)   
2. MATH-M 445 Probability Theory for Risk Management (3 credits)   
3. MATH-M 446 Financial Mathematics (3 credits)
   

1. CSCI-A 201 Programming I, Python (4 credits) 
2. MATH-M 367 Introduction to Statistical Programming in R OR STAT-I 421 Modern Statistical Modeling Using R and SAS (3 credits)  

1. ECON-E 103 or ECON-E 201 Introduction to Microeconomics (3 credits)  
2. ECON-E 104 or ECON-E 202 Introduction to Macroeconomics (3 credits)  
3. BUS-A 201 Introduction to Financial Accounting (3 credits)  
4. BUS-A 202 Introduction to Managerial Accounting (3 credits)  
5. BUS-F 301 Financial Management (3 credits)

Complete five of the following courses:  

• MATH-M 451 Financial Math (3 credits)    
• MATH-M 485 Life Contingencies I (3 credits)  
• STAT-S 352 Data Modeling and Inference (3 credits)  
• STAT-S 431 Applied Linear Models I (3 credits)  
• STAT-S 432 Applied Linear Models II (3 credits)  
• STAT-S 450 Time Series Analysis (3 credits)  
• Additional electives may be added by the faculty at a later time.  

 
Substitute Courses for Actuarial Science Electives   

• STAT-S 437 Categorical Data Analysis (3 credits)  
• STAT-S 460 Sampling (3 credits)  
• STAT-S 412 Statistical Learning using R (3 credits) 
• STAT-S 470 Exploratory Data Analysis (3 credits) 
• STAT-I 414 Introduction to Design of Experiments (3 credits)