Core actuarial studies classes help actuarial students prepare for a career as an actuary. They go over the material that students need to know in order to pass the required exams for entry and advancement in the profession. Mathematics, statistics, finance, and a variety of other courses are required in actuarial studies.
To be successful in the field of actuarial science, actuaries must possess a set of fundamental skills. Math, statistics, and analytical skills are all important in this field. Insurance companies, lenders, government agencies, and private companies are all places where actuaries can work.
Passing a series of exams is required for those seeking certification in the field. Employers may initially require only the passing of the first exam and then provide financial assistance for the remaining exams in order to achieve Associate level certification. Passing additional tests may be required for advancement in the field.
A wide range of mathematics classes are required for those entering an actuarial studies program. Calculus, algebra, and linear algebra are just a few of the mathematics courses that must be completed. Financial mathematics, theory of interest, and advanced calculus are some of the other math-based core classes in actuarial studies.
A wide range of statistics courses are also required in actuarial studies. Students are expected to take classes in probability, probability models with actuarial applications, and applied regression and time series in addition to basic statistics. Statistics in business forecasting, as well as correlation and regression analysis, are examples of other statistics courses.
Finance classes are also included in the list of required courses for actuarial students. Introductory finance, financial risk management, and computational finance are among the courses offered. Other courses in an actuarial degree program include financial engineering and risk management.
Specific actuarial science coursework accounts for a significant portion of a student’s requirements for graduation from an actuarial program. Risk management and insurance, property and casualty insurance, stochastic processes, and classwork on pensions and health insurance are among the topics covered. Attending seminars and participating in practical assessments may also be required.
Aside from the core classes in actuarial studies, which include mathematics, statistics, finance, and actuarial science, business-related classes are also offered. Marketing, management, and business law classes will assist actuaries in interacting with the business world. This includes economics and accounting classes as well.
Computer science courses will assist actuaries in working with information systems, as well as tracking and producing data sets for analysis. Introduction to computer science and computer programming are among the courses offered. Students should also take courses in spreadsheet and database management.