Actuarial Science and Risk Management Minor

The major or minor in mathematics with a minor in actuarial science and risk management specifically prepares graduates to enter the fields of actuarial science or risk management. Students majoring or minoring in math with a minor in actuarial science and risk management will have the academic preparation to pass the first professional actuarial exam.

This minor is only available to students pursuing a major or minor in mathematics.

The actuarial science and risk management minor requires a minimum of 22 credit hours.

All prerequisites must be completed prior to enrollment in the following courses.
A grade of C- or higher must be achieved in the 200-level courses listed below.

ACCT 209: Principles of Accounting
3 credit hours

Introduces the student to the role of accounting in a global society. Principles and concepts of financial accounting. Analysis of accounting statements, and accounting cycles and procedures: receivables, inventories and fixed assets.

ACCT 210: Accounting for Management
3 credit hours

Prerequisite: Day -  ACCT 209, MGMT 170.  CCPS - ACCT 209, GSTU 210 or GSTU 211.
This course provides an introduction to concepts essential to managerial decision-making as well as the tools and techniques of financial statement analysis with an emphasis on the use of financial statements for external and internal decision-making. Among the topics covered are profitability and ratio analysis, cash flows analysis, present value, inventory costing, cost-volume-profit analysis, variance calculation, and budgeting.

ECON 201: Basic Economic Theory
4 credit hours

Students will be introduced to the way market economies deal with the universal problems of resource scarcity. They will use economic models to evaluate market processes and government policies. The course provides an introduction to microeconomics and macroeconomics.

FINC 310: Risk Management and Insurance
3 credit hours

Prerequisite: Admission to Breech School of Business. Principles and functions of property, casualty, life, and health insurance with applications in both personal and business situations.

FINC 331: Corporate Finance
3 credit hours

Prerequisites: ACCT 210, MGMT 228, and admission to Breech School of Business. This course is an investigation of the study of corporate finance and its implications. Topics covered include financial statement analysis, cash flow, taxes, the financial environment, interest rates, risk and return, time value of money, and the valuation of stocks, bonds, and firms. The course emphasizes that financial managers must deal with various models, assumptions, and cultures and are often called upon to make decisions based on qualitative as well as quantitative factors.

MATH 326: Probability Theory
3 credit hours

Prerequisite: MATH 232. It is recommended that students receive a grade of C or better in MATH 232 to be successful in this course.
This course includes an introduction to probability theory, discrete and continuous random variables, mathematical expectation and multivariate distributions.

MATH 327: Mathematical Statistics
3 credit hours

Prerequisite:  MATH 326. It is recommended that students receive a grade of C or better in MATH 326 to be successful in this course. 
This course takes the material from MATH 326 into the applications side of statistics including functions of random variables, sampling distributions, estimations and hypothesis testing.

In addition, actuarial science and risk management minors are strongly encouraged to take FINC 335: Investments and COMM 211: Presentational Speaking.