Master of Science in Actuarial Science

Collaborative Online Degree

This is a 100 percent online degree program offered collaboratively by Indiana University South Bend, Indiana University East, Indiana University Indianapolis, and Indiana University Northwest. An accelerated master’s degree program in Actuarial Science is also available.

This program is authorized, exempt, or not subject to state regulatory compliance and may enroll students from all 50 states.

Many online support services are available to assist you as you progress through the program.

Program Description

The IU Online Collaborative Master of Science Degree in Actuarial Science is a rigorous program of study that combines advanced mathematical and technological knowledge with critical thinking and problem-solving skills. Graduates will be qualified to work in the insurance industry and other businesses involved in risk analysis, risk management, and statistical modeling. This degree will provide students with the skills needed to pass the advanced professional actuarial examinations and be well-prepared for lucrative mid-career positions in the insurance and/or financial industry. 

The program is designed to prepare you for the Society of Actuaries (SOA) exams SRM (Statistics for Risk Modeling), FAM (Fundamentals of Actuarial Mathematics), and one of ALTAM (Advanced Long Term Actuarial Models) or ASTAM (Advanced Short Term Actuarial Models).

Admissions

To be accepted to this program, you must have:

• Baccalaureate degree in Actuarial Science or equivalent preparation that meets the core requirements of a B.S. Actuarial Science.
• Transcripts from all colleges and universities attended must be provided. Transcripts not required from IU Campuses.
• 3.0 minimum undergraduate GPA

You may submit a 250-word personal statement explaining your background and reasons for entering the program. This statement should include your career goals, a summary of relevant work experience, and a discussion of any deficiencies in your academic record that do not meet program admission standards.

Degree Requirements (30 cr.)

To earn the MS in Actuarial Science, you must complete 30 credit hours. Requirements are broken down as follows:

• Core Courses (15 cr.)
• Actuarial Specialization (3 cr.)
• Electives (12 cr.)

Core Courses (15 cr.)

• MATH-A 600 Statistics for Risk Modeling I
  Pending approval
• MATH-A 601 Statistics for Risk Modeling I
  Pending approval
• MATH-A 605 Fundamentals of Long-Term Actuarial Mathematics
• MATH-A 606 Fundamentals of Short-Term Actuarial Mathematics
• MATH-A 699 Capstone in Actuarial Sciences
  Pending approval

Actuarial Specialization (3 cr.)

Select one of the following:

• MATH-A 610 Advanced Long-Term Actuarial Mathematics
  MATH-A 611 Advanced Short-Term Actuarial Mathematics
  Pending approval

Electives (12 cr.)

Select four of the following:

• MATH-M 451 The Mathematics of Finance
• MATH-M 485 Life Contingencies
• STAT-S 431 Applied Linear Models I; OR 
  STAT-S 531 Applied Linear Models II
• STAT-S 432 Applied Linear Models II; OR 
  STAT-S 532 Applied Linear Models II
• STAT-S 450 Time Series Analysis