Actuarial Science Program & Sample Schedules
Super Fast Track Sample Schedule
Fast Track Sample Schedule
Both of the Fast Track schedules will cover the material for the first two exams by the end of Sophomore year. Any Junior who goes to the career fair with two exams passed will be a very competitive candidate for a summer internship.
Official Course Requirements - including University Suggested Academic Plan Here is the New Curriculum Changes Powerpoint (2/2022)
**Note Stat/Math Majors - The published requirements have not been updated to reflect the 2022 Curriculum changes. Make sure you are working with your Academic Advisor to properly schedule classes!
Fast Track Sample Schedule
Both of the Fast Track schedules will cover the material for the first two exams by the end of Sophomore year. Any Junior who goes to the career fair with two exams passed will be a very competitive candidate for a summer internship.
Official Course Requirements - including University Suggested Academic Plan Here is the New Curriculum Changes Powerpoint (2/2022)
**Note Stat/Math Majors - The published requirements have not been updated to reflect the 2022 Curriculum changes. Make sure you are working with your Academic Advisor to properly schedule classes!
Scheduling Basics
Which major MATH, STAT, or Actuarial Science (Business)?
You can major in Actuarial Science through The Actuarial Science Major, which can be found in the Smeal College of Business or the Mathematics and Statistics Majors (in the Eberly College of Science). Students in all three Actuarial Options take the same Actuarial courses with each other. There are advantages to getting the Major through Smeal, such as: Smeal students can take any STAT or MATH course, but Eberly students are not eligible for many Smeal courses. Take a look at the slides from our 2019 Fall Major Forum for Actuarial Students on what courses to take.
You can major in Actuarial Science through The Actuarial Science Major, which can be found in the Smeal College of Business or the Mathematics and Statistics Majors (in the Eberly College of Science). Students in all three Actuarial Options take the same Actuarial courses with each other. There are advantages to getting the Major through Smeal, such as: Smeal students can take any STAT or MATH course, but Eberly students are not eligible for many Smeal courses. Take a look at the slides from our 2019 Fall Major Forum for Actuarial Students on what courses to take.
Where to start MATH 140, MATH 141, or MATH 230?
Are you great at calculus? Click here to decide whether to place out of Math 140 (and maybe Math 141 too). It helps to place out of Math 140 so that you can take RM 410 in your Sophomore year. That helps you pass 2 actuarial exams in your Sophomore year and get an internship. However, Smeal students need to be careful to not thereby hurt their GPA, because if it goes below 3.20 you may not be able to enter your desired Smeal major.
Are you great at calculus? Click here to decide whether to place out of Math 140 (and maybe Math 141 too). It helps to place out of Math 140 so that you can take RM 410 in your Sophomore year. That helps you pass 2 actuarial exams in your Sophomore year and get an internship. However, Smeal students need to be careful to not thereby hurt their GPA, because if it goes below 3.20 you may not be able to enter your desired Smeal major.
What classes prepare you for Exam P (the first Actuarial exam)?
It's important to take STAT 414 and RM 214 (Review of Probability Theory) in your third semester, so you can get into RM 410 in the Spring, get an internship, learn about the actuarial profession, and pass the Society of Actuaries Exam P (on Probability Theory) in January,
It's important to take STAT 414 and RM 214 (Review of Probability Theory) in your third semester, so you can get into RM 410 in the Spring, get an internship, learn about the actuarial profession, and pass the Society of Actuaries Exam P (on Probability Theory) in January,
Which Risk Management (RM) Classes Do I Take?
Actuarial Science classes are the same across majors: MATH, STAT, RM
- RM 214 is an elective to take with STAT 414 to pass Exam P
- RM 410 prepares you for Exam FM
- RM 411 is offered in the fall semester only for Exam FAM (Long Term Actuarial Mathematics Portion)
- RM 412 is offered in the fall semester only for Exam A-LTAM
- RM 421 is offered in the spring semester only for Exam FAM (Short Term Actuarial Mathematics Portion)
- RM 422 is offered in the fall semester only for Exam A-STAM
- To enter your major by the end of 3rd semester, you must meet all ETM requirements (ACCTG 211, FIN 301, 3.2 GPA or better and 44+ credits at Penn State). Then you can take RM 410 in 4th semester and RM 415 in 5th semester. (This helps you pass 2 exams in your sophomore year, get an internship, and pass the IFM exam in the fall of junior year.)
- STAT 462, STAT 483, or STAT 380 are required for Smeal Majors
Validation by Educational Experience (VEEs)
VEEs are part of the actuarial certification process. If you do not receive credit in college, you may need to pay for and enroll in additional courses to receive the credit. For that reason, it is important to take these courses even if not required to graduate. The VEE requirements for the actuarial profession include: Economics; Accounting and Finance; Mathematical Statistics. These VEEs can be satified by the following courses, respectively: Economics 102 and Economics 104; Account 211 and Finance 301; Statistics 415. For this reason, many actuarial students minor in Statistics or Economics.
For more details, read about VEE courses on the SOA Website or our VEE/Exams page
For more details, read about VEE courses on the SOA Website or our VEE/Exams page
General Education Requirements
Courses required for graduation:
- Writing/Speaking (GWS) - 9 credits
- Quantification (GQ) – 6 credits
- Health and Physical Activity (GHA) – 3 credits
- Natural Sciences (GN) – 9 credits
- Arts (GA) – 6 credits
- Humanities (GH) – 6 credits
- Social & Behavioral Sciences (GS) – 6 credits
- Integrative (Inter-Domain (N) or Linked Courses) – 6 credits
- United States (US) Cultures – 3 credits (pick a GA/GH/GS that is also a US)
- International (IL) Cultures – 3 credits (pick a GA/GH/GS that is also a IL)