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Math and Actuarial Science Background
Mathematics, Statistics & Actuarial Science

Actuarial Science Major/Minor

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 jointly administered CAS/SOA Examinations P, FM, MLC, MFE and C. 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.

Major Requirements

MA 106, 107, 208: Calculus and Analytic Geometry I, II, III
MA 215: Linear Algebra
MA 360: Probability Theory I
MA 361: Statistical Theory
MA 362: Applied Statistical Methods
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, 204 (Introduction to Accounting I, II), MS 265 (Information Management), EC 231, 232 (Principles of Micro/Macroeconomics), FN 340 (Corporation Finance) and FN 347 (Investments). CS 142 (Programming) is 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, FN 347, EC 231, EC 232, and MA 362 to validate educational experience (VEE) for all of these courses.

View Suggested Schedules for Actuarial Science Majors

Minor Requirements

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 and speak with their advisor regularly for detailed information regarding their specific degree requirements and their progress toward degree completion.