Actuarial Science

Associate of Science in Actuarial Science (New Degree)

Beginning Spring 2025, the Division of Mathematical Sciences will offer students the opportunity to earn the Associate of Science (AS) degree in Actuarial Science.  The AS degree in Actuarial Science provides students with sufficient depth and support transfer plans in actuarial science for the baccalaureate degree.  This is an interdisciplinary two-year degree with coursework between the Division of Mathematical Sciences, the Division of Behavioral & Social Sciences, and the Division of Business.  This is the first two-year degree offered at the community college in the nation.

The core of this interdivisional major is a combination of sequences in calculus, accounting, and economics.  Students will acquire a conceptual understanding of the principles of differential and integral calculus for functions of several variables, financial and managerial accounting, as well as economics theory.  Additionally, students gain skills in the mining, dissemination, and presentation of data through coursework in computer science, communications, and statistics.  Competency will be assessed through projects and examinations that evaluate the students' abilities to solve a wide range of problems experienced in the actuarial field.

About the Degree

The AS degree in Actuarial Science contains courses that prepare students to be readily available for upper-level courses in an actuarial science baccalaureate degree program at four-year institutions.  Students who choose to terminate at the associate degree level will gain the needed skills for entry-level positions supporting actuaries from multiple industries. The objectives for the Associate of Science Degree in Actuarial Science: (1) provides a clear path to complete the degree and transition to a university program; (2) supports a focused curriculum that prepares students for upper-division mathematics, statistics, finance, and economic courses; and (3) offers enrichment opportunities preparing students for actuary certification through the Society of Actuaries.

What is an actuary and what is actuarial science?

An actuary is a highly sought-after professional who develops and communicates solutions for complex issues.  An actuary uses data, models, and theories to evaluate the likelihood of future events, such as accidents, natural disasters, or life expectancy, and then determine the financial impact of those events. An actuary's work is crucial in helping organizations set premiums, create policies, and plan for long-term financial sustainability.

Actuarial science is the discipline that applies mathematical and statistical methods to assess and manage financial risks, particularly in industries like insurance, finance, pensions, and healthcare. Actuarial science combines expertise in probability, statistics, economics, and finance, and it requires a deep understanding of risk management and decision-making under uncertainty. Actuaries play a critical role in ensuring the stability and financial health of the companies they work for, making their expertise highly valued in the business world.

The Society of Actuaries (SOA), a professional organization that serves individuals in the actuarial profession, provides resources, education, and networking opportunities to actuaries across a wide range of industries, including insurance, finance, pensions, and healthcare. Click here to download a brochure with more information about the actuary career.  Click here for a brouchure on general questions about actuarial science (developed by the SOA).