Major in Mathematics - Actuarial Science and Risk Management Concentration

Admission

Students who are interested in the Actuarial Science & Risk Management (ASRM) Program must complete an application for admission to program. Admission to the university does not guarantee the admission to the ASRM Program. Application Form may be obtained from the Mathematics Office or downloaded from this website.

To be admitted to the concentration, students are required to meet the following two requirements:

  1. Students must have a grade point average of at least 3.0 in mathematics.
  2. Students must also meet one of the following requirements:
    1. Completed Math 273/283 (Calculus I) and Math 274/284 (Calculus II) with a grade of at least B in both.
    2. Received a score of 4 or 5 in AP Calculus AB or BC.
    3. Received a passing score on at least one SOA exams.

Degree candidates intending to be in the ASRM program are designated as pre-ASRM until admitted into the concentration. These students will also be assigned an adviser from the ASRM faculty and are encouraged to communicate with their faculty advisor regularly to evaluate their progress in admission.

Students who have not met the admission requirements will not be able to enroll in Math 438 (Actuarial Models) and Math 485 (Introduction to Mathematical Finance).  Students who take an ASRM course listed above before being admitted to the ASRM concentration will be disenrolled from the course.

Note: Students not satisfying any of the requirements may petition to the Director of ASRM program to be admitted into the program.

Continuation

To continue in the ASRM concentration, the student needs to receive at least a grade “B” in Math 331 (Probability) and maintain a total grade point average of at least 3.0 in the required courses for the ASRM concentration.

Students who fail to meet the criteria for continuation will be placed in the pre-ASRM Concentration.  Students will not be allowed to enroll in Math 438 (Actuarial Models) and Math 485 (Introduction to Mathematical Finance) until they achieve a total GPA of at least 3.0 in the required courses for the ASRM concentration and/or receive at least a grade “B” in Math 331 (Probability).

If a student enrolls in these courses before they meet the criteria for continuation during the preregistration period, they will be disenrolled from the course.  Once a student is in the ASRM program and has successfully enrolled in Math 438 (Actuarial Models) or Math 485 (Introduction to Mathematical Finance), the student cannot be placed in pre-ASRM.

The Society of Actuaries has recognized Towson University as a Center of Actuarial Excellence (CAE). There are eight criteria for this designation, including curriculum, faculty composition, graduate quality, connection to industry, and research/scholarship.

In addition to the Core Curriculum and common requirements for all Math majors, the Actuarial Science and Risk Management Concentration requires 86 units (83 shown below plus ENGL 317, 3 units), completed with a grade equivalent of 2.00 or higher.

Students must complete the Core Curriculum requirements in addition to the requirements for a concentration.

The following are common requirements for all Mathematics concentrations:

MATH 265ELEMENTARY LINEAR ALGEBRA4
MATH 267INTRODUCTION TO ABSTRACT MATHEMATICS4
MATH 273CALCULUS I4
MATH 274CALCULUS II4
MATH 275CALCULUS III4
Select one of the following courses:3-4
INTRODUCTION TO ABSTRACT ALGEBRA
LINEAR ALGEBRA
INTRODUCTORY REAL ANALYSIS
Total Units23-24

Actuarial Science and Risk Management Concentration Requirements

Actuarial Science & Risk Management Concentration Required Courses
ACCT 201PRINCIPLES OF FINANCIAL ACCOUNTING3
or ACCT 211 HONORS ACCOUNTING PRINCIPLES I
ACCT 202PRINCIPLES OF MANAGERIAL ACCOUNTING3
or ACCT 212 HONORS ACCOUNTNG PRINCIPLES II
COSC 236INTRO TO COSC I4
ECON 201
ECON 202
MICROECONOMIC PRINCIPLES
and MACROECONOMIC PRINCIPLES
6
FIN 331PRINCIPLES OF FINANCIAL MANAGEMENT3
FIN 333INVESTMENTS AND EQUITY SECURITY ANALYSIS3
MATH 265ELEMENTARY LINEAR ALGEBRA4
MATH 267INTRODUCTION TO ABSTRACT MATHEMATICS4
MATH 273CALCULUS I4
MATH 274CALCULUS II4
MATH 275CALCULUS III4
MATH 312THEORY OF INTEREST4
MATH 331PROBABILITY4
MATH 332MATHEMATICAL STATISTICS3
MATH 337APPLIED REGRESSION AND TIME SERIES ANALYSIS4
MATH 369INTRODUCTION TO ABSTRACT ALGEBRA4
MATH 438ACTUARIAL MODELS3
MATH 439COMPUTATIONAL PROBABILITY MODELS3
MATH 448ADVANCED ACTUARIAL MODELS3
MATH 485MATHEMATICAL FINANCE3
MATH 486RISK MANAGEMENT AND FINANCIAL ENGINEERING3
MATH 442ACTUARIAL MODEL CONSTRUCTION4
MATH 490SENIOR SEMINAR IN MATHEMATICS3
Total Units83

Note: ENGL 317 must be taken to fulfill the Core Curriculum requirement of English Composition.

Freshman
Term 1UnitsTerm 2Units
MATH 2734MATH 2654
ENGL 102 or TSEM 102 (Core 1 or 2)3MATH 2744
COSC 2364ACCT 2013
Core3COMM 131 (Core 5)3
Core 3TSEM 102 or ENGL 102 (Core 1 or 2)3
 17 17
Sophomore
Term 1UnitsTerm 2Units
MATH 2754MATH 2674
MATH 3124MATH 3314
ACCT 2023ECON 201 (Core 6)3
Core4Core4
Students are advised to prepare for and take the SOA/CAS Exam FM/2 at the end of the Fall TermStudents are advised to prepare for and take the SOA/CAS Exam P/1 at the end of the Spring Term
 15 15
Junior
Term 1UnitsTerm 2Units
MATH 3694ENGL 317 (Core 9)3
MATH 3323MATH 4393
MATH 4383MATH 4483
ECON 2023FIN 3313
Core3Core3
 Students are advised to prepare for and take the SOA Exam MLC at the end of the Spring Term
 16 15
Senior
Term 1UnitsTerm 2Units
MATH 3374Core3
MATH 4853MATH 4863
FIN 3333MATH 4424
Core3MATH 4903
Students are advised to prepare for and take the SOA/CAS Exam M/3F at the end of either the Fall or Spring TermStudents are advised to prepare for and take the SOA/CAS Exam C/4 at the end of the Spring Term
 13 13
Total Units 121

1. Demonstrate knowledge of the properties of numbers and of sets.
2. Demonstrate skills and knowledge of appropriate technology used in solving mathematical problems.
3. Demonstrate skills and knowledge of the basic concepts of calculus.
4. Demonstrate skills and knowledge of linear and abstract algebra.
5. Demonstrate skills and knowledge of basic probability and/or statistics