Actuarial studies core classes cover math, statistics, finance, and actuarial science, preparing students for exams necessary for entry and advancement in the profession. Business, economics, accounting, and computer science courses are also part of the curriculum.
Actuarial studies core classes help prepare actuarial students to succeed in a career as an actuary. They cover the material students need to understand in order to pass the exams necessary for entry and continued advancement in the profession. Actuarial studies core classes include mathematics, statistics, finance, and several other courses.
Actuaries must have some basic skills to be successful in the occupation. The profession relies heavily on math, statistics and analytical skills. Actuaries can find work with insurance agencies, creditors, government agencies and private companies.
Those who want to get certified in the field need to pass a series of exams. Initially, employers may only require passing the first exam and then provide financial support for the remaining tests to achieve Associate-level certification. Additional advances in the field may require passing additional tests.
Requirements for entering an actuarial studies program include a wide variety of math classes. Calculus, algebra and linear algebra are some of the required math classes. Other math-based core classes in actuarial studies include financial math, interest theory, and advanced calculus classes.
Core classes in actuarial studies also include a wide variety of statistics courses. In addition to basic statistics, students are expected to participate in classes such as probability, probability models with actuarial applications and applied regression, and time series. Other statistics courses may include statistics in business forecasting as well as correlation and regression analysis.
Finance classes can also be found among the required courses for actuarial students. These courses include introductory finance, financial risk management, and computational finance. Financial engineering and financial risk management are other course options in an actuarial program.
Specific courses focused on actuarial science represent a good part of a student’s requirements to graduate from an actuarial program. Courses include insurance and risk management, property and casualty insurance, stochastic processes, and class work focused on pensions and health insurance. Other requirements may include attending seminars and participating in hands-on assessments.
In addition to the math, statistics, finance, and actuarial classes offered as part of the core classes in actuarial studies, business-based classes are also part of the curriculum. Marketing, management and business law classes will help actuaries interact in the business world. This also includes economics and accounting courses.
Computer science courses will help actuaries work with information systems and track and produce datasets needed for analysis. These courses include introductory classes in computer science and computer programming. Students must also take spreadsheet and database management courses.
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