actuarial

Actuarial Science

The math department is now offering a PSM program in Actuarial Science and is accepting students for Fall 2016. This two-year advanced degree program is available 100% online.

Richard Mikula 

Program Coordinator

Richard Mikula, Ph.D.

422 Robinson Learning Center, Lock Haven University
(570) 484-2272
rmikula@lockhaven.edu 

 

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Program Overview

PSM

Program Overview

Actuaries are highly educated business executives who specialize in the evaluation of insurance and financial risk. Professional actuaries hold positions of responsibility with insurance companies, consulting firms, investment banks, self-insurers, and governmental organizations.

Graduates of this program will have the foundational skills (interest theory, finance, economics, statistics, probability, and modeling) necessary to conduct financial analyses and manage financial risks. Additionally, students will learn how to provide assessments of financial securities systems, with focus on their mechanisms and complexity from the economics and finance standpoint, and the corresponding governing mathematics.  Students will also learn how to evaluate the likelihood of events and quantify contingent outcomes to minimize losses associated with undesirable events. 

The course work will prepare students to take Actuarial Exams P, FM and MLC as sponsored by the Society of Actuaries (SOA), and will provide Validation by Educational Experience (VEE) credits for Corporate Finance and Applied Statistical Methods

WHY ACTUARIAL SCIENCE?

  • The need for actuaries is expected to grow 26% by 2022
  • Median salary of $93,680 (Bureau of Labor Statistics Occupational Outlook Handbook, 2012)
  • U.S. census data in 2010 suggests that the actuarial science field has a 0% unemployment rate

WHY OUR PROGRAM?

  • One of only three PSM programs in Actuarial Science in the country
  • We offer the only fully online PSM in Actuarial Science
  • Geared toward working professionals, the curriculum has been designed to minimize work conflicts through delivery of two 7-week courses per semester, and one full-semester course per semester.
  • Course work prepare students to take Actuarial Exams P, FM and MLC as sponsored by the Society of Actuaries (SOA), and will provide Validation by Educational Experience (VEE) credits for Corporate Finance and Applied Statistical Methods.
Coursework

Coursework

Coursework in this program will prepare you to take Actuarial Exams P, FM and MLC as sponsored by the Society of Actuaries (SOA), and will provide Validation by Educational Experience (VEE) credits for Corporate Finance and Applied Statistical Methods.

Topics covered include:

  • Probability
  • Actuarial Models and Life Data Analysis
  • Financial and Managerial Accounting

DOWNLOAD PSM IN ACTUARIAL SCIENCE CHECKSHEET

Application Process and Deadlines

Application Process and Deadlines

To complete the application process, students must submit:

  • Online application
  • Official college transcript(s)
  • Statement of professional goals - One page in length
Admission Criteria

Admission Criteria

  • A bachelor’s degree with a GPA of 3.00 or higher 
  • Successful completion of the following undergraduate coursework:
    • 9 credits of Calculus (through multivariable calculus) or equivalent
    • 3 credits of Linear Algebra or coursework that covers the fundamentals of matrix calculations

If English is not the student’s primary language, a TOEFL score of 213 or higher (computer-based exam), 550 or higher (paper-based exam), or 80 or higher (internet-based exam) will be required.

Program Requirements

PROGRAM REQUIREMENTS

Core Courses (Math and Actuarial Science)-18 Credits

ACTSCI 1: Probability
ACTSCI 2: Mathematical Statistics
ACTSCI 3: Introduction to Financial Mathematics
ACTSCI 4: Regression Analysis and Statistical Models
ACTSCI 5: Forecasting and Time Series Analysis
ACTSCI 6: Actuarial Models and Life Data Analysis

Professional Skills Course Requirements – 9  Credits 

PS 1: Professional Skills 1 -Financial and Managerial Accounting
PS 2: Professional Skills 2 - Corporate Finance
PS 3: Professional Skills 3 – Financial Risk  Management

Internship/Capstone Project - 3 Credits

IC 1: Internship Program/Capstone Project

Suggested Map for Full-Time Students-

Year 1:

Fall Semester: ACTSCI 1 (7 week); ACTSCI 3 (7 week); PS 1 (full semester)
Spring Semester: ACTSCI 2 (7 week); ACTSCI 4 (7 week); PS 2 (full semester)

Year 2:

Fall Semester: ACTSCI 5 (7 week); ACTSCI 6 (7 week); PS 3 (full semester)
Spring Semester: IC 1(full semester)

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Program Highlights

  • 100% Online Delivery: LHU’s distance instructional methods are designed to maintain a personal, one-to-one mentoring and supervisory relationship with degree candidates while making it possible to create active and engaged learning communities. No campus visits or on-campus residencies are required; however, much of the coursework is completed via virtual classrooms utilizing the latest technology in online instruction.
  • Internships: Students are required to complete a three credit internship or capstone project

 Contact Us!

Graduate Admissions

 
401 N. Fairview Street, Lock Haven, PA
(570) 484-2027

Office Hours

8:00am to 4:00pm Monday-Friday

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