Our Program at FSU
Broad instruction is provided in the mathematical, statistical, economic and business concepts underlying the operations of property, casualty, and life insurers, governmental agencies, and consulting firms. Beyond the basic scientific calculus sequence that is necessary for the first actuarial examination, and basic courses in economics, accounting, and computer science, the requirements are rather evenly split between mathematics, statistics, and business. Within the required business minor, all students take one course in each of the highly rated departments of Risk Management and Insurance, Economics, and Finance. To deepen the student's information base, an advanced two-course concentration, chosen from several options with regard for student goals, must be completed in one of these departments.
Students are required to take courses that are designed to assist them in successful completion of the preliminary actuarial examinations, and they are provided group support and strong encouragement for completing many of the exams before award of the degree. Since it is necessary in order to be competitive in today's job market that students pass at least one actuarial exam while in school, FSU Actuarial Science offers targeted help. The mathematics courses include material in the syllabus for all of the preliminary actuarial exams with optional study beyond. As a new feature begun in 2007, FSU now offers 20-hour special seminars for Exams P/1, FM/2, and MLC; these are developed and presented by Dr. Stephen P. Paris, the Coordinator of Actuarial Science. These actuarial exams are part of the preliminary exams that are required for actuarial and CERA designations. Passing an actuarial exam requires considerable extra effort above course work on the part of students but it provides - and is essential for - a competitive edge in the job market. Additionally, for an FSU undergraduate degree in actuarial science, the required courses include those courses for which students receive credit in all three of the VEE areas: applied statistics, economics, and finance. Note that in order to receive VEE credit for any course, you must receive a grade of B- or better in the course.
FSU Actuarial Science also organizes opportunities to help you find a job before graduation. Students join and participate most Thursday evenings in presentations of the Future Seminole Actuaries (FSA). Presentations are by practicing actuaries with government, insurance, consulting, and financial firms who talk with our actuarial science students. The Thursday presentations are usually followed by Friday interviews for summer internships and/or full time positions at the respective actuary's company. The interviews are set up by the departmental adviser in the Math Conference Room. Many job postings to the student aliases are made by faculty and advisers; they have wide contacts and receive queries from diverse actuarial, governmental, and financial sector employers.
MAC 2311 Calculus I (4 credits)
MAC 2312 Calculus II (4 credits)
MAC 2313 Calculus III (4 credits)
COP 3014 Programming I (3 credits)
ECO 2013 Principles of Microeconomics (3 credits)
ECO 2023 Principles of Macroeconomics (3 credits)
Required Math and Statistics
MAP 4170 Introduction to Actuarial Mathematics (4 credits)
MAP 4175 Actuarial Models (4 credits)
MAT 4930r Actuarial Applications (1 credit, 4 repetitions)
STA 4321 Introduction to Mathematical Statistics (3 credits)
Required Business and Finance
ACG 2021 Principles of Accounting I (3 credits)
FIN 3403 Financial Management of the Firm (3 credits)
RMI 3011 Intro to Risk Management/Insurance (3 credits)
FIN 4504 Investments (3 credits)
Several students in the program have participated in internship activities with insurers and governmental agencies. The proximity of the State of Florida Department of Insurance and other departments with actuarial applications is a useful resource; some choose employment there after graduation. Summer internships are available from many employers nationwide. They are a long tradition in actuarial science. In case of summer or academic year internships (the latter typically in a local governmental agency), academic credit may be earned (consult Dr. Paris) in MAT 4945r. Internship in Actuarial Science (1-3). (S/U grade only.)
Specialized Math and Statistics
Need 6 Courses from Below
Choose at least 2 of the following:
MAP 2302 Ordinary Differential Equations (3 credits)
MAP 4176 Actuarial Models and Credibility (4 credits)
MAS 3105 Applied Linear Algebra I (4 credits)
Choose at least one of the following:
MAA 4224 Introduction to Analysis I (3 credits)
MAA 4226 Advanced Calculus I (3 credits)
MAA 4227 Advanced Calculus II (3 credits)
MAD 3703 Numerical Analysis I (3 credits)
MAP 4341 Elementary Partial Differential Equations I (3 credits)
MAS 4106 Applied Linear Algebra II (3 credits)
STA 4203 Applied Regression (3 credits)
STA 4322 Mathematical Statistics (3 credits)
STA 4853 Time Series (3 credits)
Choose at least one of the following:
ECO 3101 Intermediate Microeconomic Theory (3 credits)
ECO 3203 Intermediate Macroeconomic Theory (3 credits)
ECO 4401 Intro to Mathematical Economics (3 credits)
ECO 4421 Introduction to Econometrics (3 credits)
RMI 4224 Property & Casualty Insur Products (3 credits)
RMI 4292 Property & Casualty Insur Operations (3 credits)
RMI 4115 Life & Health Insurance Prod Products (3 credits)
RMI 4135 Employee Benefits Plans (3 credits)
FIN 4514 Security Analysis & Portfolio Mgmt (3 credits)
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One of Florida’s two preeminent universities – the state’s version of “flagship” – Florida State University was founded in 1854 along with the University of Florida: an institution on each side of the Suwannee River. Over its history, FSU developed into Florida’s foremost STEM-focused research university, with a high level of research spending, an economic footprint of over $10 billion, and some of the nation’s finest labs and research centers. FSU is also a leader in business, economics, and accounting for the state, and has been ranked one of the top 50 public universities nationally by U.S. News & World Report.
The university’s excellence in technology and mathematics informs FSU’s Actuarial Science bachelor’s degree program. The first dedicated actuary program in Florida, FSU’s degree remains cutting-edge and intensive, giving students a deep grounding in mathematics, economics, finance, and related fields. Students can also choose between a BA or a BS degree, tailoring their coursework to their career goals – more technical, or more managerial. With a reputation throughout Florida and nationally, FSU provides students with all they need to pass the actuarial exams, and to enter the job market ahead of the pack.
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"Students at Florida State University interested in pursuing a career in actuarial science will study in the Actuarial Science Program, an interdisciplinary major, through the Department of Mathematics. The Society of Actuaries classifies the program as Advanced Undergraduate and Graduate Education by the Society of Actuaries (SOA) / Casualty Actuarial Society (CAS) Listing of Academic Actuarial Science Programs. FSU’s curriculum is geared toward preparing students to pass the major actuarial exams in probability, financial mathematics, life contingencies, financial economics, and construction of models.
FSU grads have an excellent success rate on these exams, and the program has a strong history of placement in the field through holding company interviews in the department. Students interested in furthering their academic training will be interested in FSU’s Financial Mathematics Master’s Program, which is offered through the Mathematics Department and features a concentration in Actuarial Science and also offers advanced courses to well-prepared undergraduate majors. In either degree, students can expect to be prepared in a wide range of general and specific skills, including but not limited to mathematics, statistics, economics, business, insurance, accounting, and computer science."