MSRI Admission

Admission Requirements

All applicants to the Master of Risk and Insurance program must possess a baccalaureate degree from an accredited institution or the international equivalent prior to enrollment at the graduate level.

To apply, candidates should submit the following:

• Butler Application
• Personal Statement
• Two Letters of Recommendation
• Official Transcripts
• Current Résumé
• GMAT/GRE Scores (applicants may request a GMAT/GRE waiver)

International applicants must additionally submit the following:

• TOEFL scores or equivalent proof of English proficiency
• A clear copy of your passport
• Evidence of financial support

Important Dates

2020–2021 Academic Year

• July 1, 2020: Application for 2021 cohort opens

• August 1, 2020: First application deadline

• September 1, 2020: Second application deadline

• October 1, 2020: Third application deadline

• November 1, 2020: Fourth application deadline

• January 15, 2021: Final application deadline

• January-April 2021: Prerequisite coursework, if applicable

• May 2021: Core program start; summer in-residence experience

Decisions will start being released two weeks after each application deadline.

GMAT/GRE Waiver Request Requirements

GMAT/GRE waivers are considered on a case-by-case basis and are not guaranteed. Applicants that wish to apply for a GMAT/GRE waiver must meet at least one of the waiver categories below. Applicants can request the waiver by completing the GMAT/GRE Waiver Request Form.

1. Candidates with a conferred terminal degree (PhD, JD, MD, PharmD, etc.) are not required to take the GMAT, but must still complete the GMAT/GRE Waiver Request form.
2. For all other applicants, you can submit a GMAT/GRE waiver if you meet the following criteria:

   • Graduate of Butler University’s Lacy School of Business with a 3.0 or higher GPA within the last five years.

     OR

   • Graduate of Butler University’s Actuarial Science Program with a 3.0 or higher GPA within the last five years.

     OR

   • Possess proof of Professional Risk Management, Insurance or Financial Services Designations that includes: Chartered Property and Casualty Underwriter (CPCU); Certified Insurance Counselors (CIC); Certified Financial Planner Certificate (CFP®); Fellow, Life Management Institute (FLMI); Chartered Life Underwriter (CLU); Chartered Financial Consultant (ChFC); Associate of the Society of Actuaries (ASA); Associate in Captive Insurance (ACI); Fellow of the Society of Actuaries (FSA); Associateship in the Casualty Actuarial Society (ACAS); Fellowship in the Casualty Actuarial Society (FCAS); Certified Employee Benefit Specialist (CEBS); Certified Employee Benefit Specialist Fellow (CEBS Fellow); Commercial Lines Coverage Specialist (CLCS); and Associate in Risk Management (ARM), and two or more associate designations from The Institutes. Other certifications may qualify upon further review. Please contact the MSRI program office at MSRI@butler.edu for further information.

3. Have all of the following:
   • Cumulative GPA of 3.2 or higher
   • Seven or more years of professional experience with increasing levels of responsibility
   • Grade of "B-" or better in undergraduate or graduate level quantitative courses, which may include economics, accounting, finance, calculus, statistics, and/or physics.

Waiver decisions will be communicated to the applicant within 10–14 business days via email.