Actuarial Science Program

An actuary is a mathematician responsible for estimating risks, primarily in the insurance and financial security industries. The Butler program helps to prepare students for the professional examinations administered by the Casualty Actuary Society and the Society of Actuaries. In addition to the departmental requirements below, a student must complete the University Core Curriculum, the College of Liberal Arts and Sciences language requirement, and other general requirements, including a writing intensive course.

Additional information for Actuarial Science may be obtained at the following websites: Society of ActuariesCasualty Actuarial Society, and Be An Actuary.

If you would like to see courses offered, please visit the Course Catalog. If you’d like to see how to complete this major in three years, visit the three-year program majors website for a recommended degree path.

MA 106, 107, 208: Calculus and Analytic Geometry I, II, III
MA 310: Linear Algebra
MA 360: Probability Theory I
MA 361: Statistical Theory
MA 362: Linear Regression and Time Series
MA 363: Probability Theory II
MA 372: Loss Models
MA 395: Financial Mathematics
MA 397: Actuarial Mathematics I
MA 398: Actuarial Mathematics II
MA 399: Financial Derivatives

Actuarial Science majors should complete the following business courses: AC 203 (Introduction to Accounting I), MS 100 (Basic Excel Skills for Business Applications), MS 265 (Information Technology), EC 231, 232 (Principles of Micro/Macroeconomics), FN 340 (Corporation Finance). MA 495 (Mathematics for Investment Portfolios and CS 142 (Introduction to Computer Science and Programming) are also recommended. In addition, Actuarial Science majors are strongly encouraged to pass the CAS/SOA Exam P (probability) and FM (mathematics of finance), and obtain a summer internship while still an undergraduate.

Students will be required to submit to SOA grades of B- or better for FN 340, AC 203, EC 231, EC 232, and MA 361 to validate educational experience (VEE) for all of these courses.

Fall Spring
First Year MA 106
MA 162
MS 100
FYS & Foreign Language
CS 142 or Core electives
MA 107
MA 162
EC 231 and/or AC 203 MS 265
FYS & Foreign language
Second Year MA 208
MA 360
GHS
Complete AC 203 & EC 231 (or continue in AC 204, EC 232)
MA 363 –> Exam P
MA 361
GHS
Finish AC 203-204 and EC 231-232

First Two Years—Starting in MA 360 and MA 107 or MA 208

Fall Spring
First Year MA 107/MA 208
MA 162
MA 360
MS 100
FYS & Foreign Language
MA 361
MA 363 –> Exam P
MA 265
FYS & Foreign Language
Optional: Start EC 231 and/or AC 203
Second Year MA 208
MA 395 –> Exam FM
GHS
Complete AC 203 & EC 231 (or continue in AC 204, EC 232)
MA 310/CS 142
GHS
Complete AC 203-204 and EC 231-232

Third and Fourth Years—Fall of third year is odd numbered

Fall Spring
Third Year
odd fall/even spring
MA 395 –> Exam FM
MA 397
CS 142
Apply for summer internships
Optional: FN 340, MA 362
MA 398
MA 310
Optional: CS 142
Fourth Year
even fall/odd spring
MA 362
MA 310
FN 340
MA 372
MA 399
Optional: MA 495

Third and Fourth Years—third year is even numbered

Fall Spring
Third Year
odd fall/even spring
MA 395 –>Exam FM
MA 362
CS 142
Apply for summer internships
Optional FN 340
MA 372
MA 399
CS 142 or MA 310
Optional: MA 495
Fourth Year
even fall/odd spring
MA 397
FN 340
MA 310
MA 398

MA 106, 107: Calculus and Analytic Geometry I, II
MA 360:  Probability Theory I
MA 395: Financial Mathematics
Choose two of the following courses:

  • MA 363: Probability Theory II
  • MA 372: Loss Models
  • MA 397: Actuarial Mathematics I
  • MA 398: Actuarial Mathematics II
  • MA 399: Financial Derivatives

NOTE: The information found on this website with respect to major/minor/program requirements is primarily directed at providing prospective students a general roadmap of the curriculum.  Current Butler students are expected to review their degree audit report at my.butler.edu and speak with their advisor regularly for detailed information regarding their specific degree requirements and their progress toward degree completion.