Actuarial Science, MS
Do you want to make the most of your talents in math and predictive analysis? Become an expert in finding ways to assess, calculate and manage risk, and participate in high-level business decision-making.
Quick facts
Locations
Credits
Additional facts
STEM-OPT extension eligible: Yes
International students (F1) can extend U.S. work experience by 24 months.
Accreditation and professional licensure
Accredited by the Higher Learning Commission.
Degree description
The Master of Science program in actuarial science emphasizes broad awareness and appreciation of current issues faced by insurance industry practitioners as well as innovative resolutions provided by actuaries.
You advance your knowledge base by applying mathematical and statistical concepts and data analytics to the disciplines of risk management, finance and insurance. The program also includes a new, focused set of professional learning outcomes aligned with the needs of the ever-evolving insurance industry, while keeping the core technical learning outcomes in place. These guide your development of professional competencies through coursework, independent projects and opportunities outside the classroom, while remaining firmly based on a strong foundation of scholarly technical work in actuarial science.
Actuaries must pass a series of intensive professional exams to become credentialed. As a program graduate, you are prepared for the examinations required to become a credentialed professional by the Society of Actuaries or Casualty Actuarial Society and to be a competitive employee in the insurance and finance industries.
Curriculum
This graduate degree includes courses focused on a specialized topic, so you can advance your skills for further professional opportunities. Explore all courses below.
30 credit hours including the required applied project course (ACT 593)
Required Core (6 credit hours) Electives or Research (21 credit hours) Culminating Experience (3 credit hours) Additional Curriculum Information Only six credit hours of 400-level coursework are allowed on the plan of study, per Graduate College policy.
ACT 560 Regression Modeling In Insurance (3)
ACT 561 Machine Learning and Risk Management Applications (3)
ACT 593 Applied Project (3)
For electives and research, students select seven courses from an approved list. Students should see the academic unit for the approved course list. Other courses may be used with approval of the academic unit.
What you'll learn
The following learning outcomes highlight some of the knowledge and skills you'll develop to support your future success.
- Apply appropriate techniques to analyze insurance datasets in coursework.
- Conduct all analyses in the field of actuarial science that appear on the preliminary actuarial exams.
- Use traditional and nontraditional predictive analytics to analyze large insurance data sets from real-world problems.
Apply appropriate techniques to analyze insurance datasets in coursework.Admission requirements
Here are the admission and application details
All students are required to meet general university admission requirements.
U.S. applicants (opens in new window) | International applicants (opens in new window) | English proficiency (opens in new window)
Applicants must fulfill the requirements of both the Graduate College and The College of Liberal Arts and Sciences. Applicants are eligible to apply to the program if they have earned a bachelor's degree (or equivalent) or master's degree from a regionally accredited college or university in a related field, such as mathematics, statistics, business, economics or predictive analytics. Applicants must have a minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in the last 60 hours of their first bachelor's degree program or a minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in an applicable master's degree program. All applicants must submit: Additional Application Information Applicants should have completed the following courses with a "B" or better (scale is 4.00 = "A"). ASU equivalents are given in parentheses. Courses may be substituted with approval of the academic unit: Linear Algebra (MAT 342 or MAT 343)
An applicant whose native language is not English must provide proof of English proficiency regardless of their current residency.
calculus sequence 1-3 (MAT 270, 271, and MAT 272)
Applied Statistics (STP 420)
upper-division probability (ACT 415 or STP 421)
Application deadlines
| Session | Modality | Deadline | Type |
|---|---|---|---|
| Session A/C | In Person | 07/01 | Final* |
| Session | Modality | Deadline | Type |
|---|---|---|---|
| Session A/C | In Person | 12/10 | Final* |
*A final deadline means that all applications and application materials must be received by Admission Services by the deadline date. Applications that are incomplete may not be considered after the final deadline. Applications that are submitted past the final deadline may not be considered.
Explore expanded study opportunities
This program allows you to obtain both a bachelor's and a master's degree in as little as five years. As a high-achieving student, accelerated bachelor's plus master's degree programs are designed for you to share undergraduate coursework with graduate coursework to accelerate completion of your master's degree. These programs feature the same high-quality curriculum taught by ASU's world-renowned faculty.
This program is offered as an accelerated bachelor's plus master's degree with:
Approval to pursue the accelerated master's is typically granted during the junior year of your bachelor's degree program. If you are interested, you can learn more about eligibility requirements and how to apply.
Paying for college
Use our calculator to estimate your full-time or part-time tuition fees for this program prior to any financial aid. Keep in mind that most of our students recieve financial aid, which can reduce out-of-pocket costs.
Get an estimateCareer opportunities
Risk is a part of daily life, and wherever there is risk, there are opportunities for actuarial intervention. Many actuaries work with insurance companies to calculate premiums, to determine reserves needed to ensure an organization's financial health, and to ensure that organizations conform to stringent, complex legal mandates. Others help companies to establish retirement plans or are employed as consultants.
Graduates possess skills that are transferable to any industry and any organization that requires risk modeling and management, including:
- consulting
- energy, such as utilities, oil and gas
- environment (on issues such as climate change and the financial impact or risk of extreme events)
- financial services, such as banking and investment management
- government agencies, such as the Social Security Administration, the Department of Labor, and the Centers for Medicare & Medicaid Services (to manage social programs and to develop regulations and legislation)
- higher education
- insurance
- retirement and pensions
- transportation, such as shipping and air travel
Graduates can also apply the advanced problem-solving skills to a variety of other professional positions, such as:
- analyst
- business operations specialist
- consultant
- teacher
Contact information
Use the contact information below to get in touch if you're a current student or have general questions.
Prospective students should fill out the Request for Information form.
School of Mathematical and Statistical Sciences
|
WXLR A213
grad.math@asu.edu
480-965-3951
Frequently asked questions about degree programs
Accelerated programs allow students the opportunity to expedite the completion of their degree.
Accelerated master's
These programs allow students to accelerate their studies to earn a bachelor's plus a master's degree in as few as five years (for some programs).
Each program has requirements students must meet to be eligible for consideration. Students typically receive approval to pursue the accelerated master's during the junior year of their bachelor's degree program. Interested students can learn about eligibility requirements and how to apply.
Concurrent degrees allow students to pursue their own personal or professional interests, earn two distinct degrees and receive two diplomas. To add a concurrent degree to your existing degree, work with your academic advisor.
Joint programs, or jointly conferred degrees, are offered by more than one college and provide opportunities for students to take advantage of the academic strengths of two academic units. Upon graduation, students are awarded one degree and one diploma conferred by two colleges.
ASU adds new programs to Degree Search frequently. Come back often and look for the "New Programs" option.
ASU Online offers programs in an entirely online format with multiple enrollment sessions throughout the year. See https://asuonline.asu.edu/ for more information.
The Western Regional Graduate Program (WRGP) provides a reduced tuition rate to non-resident graduate students who qualify. Visit the WRGP/WICHE webpage for more information: https://graduate.asu.edu/wiche.
