Actuarial Science Degree
In traditional life insurance, actuarial science focuses on the analysis of mortality, the production of life tables, and the application of compound interest to produce life insurance, annuities and endowment policies. Contemporary life insurance programs have been extended to include credit and mortgage insurance, key person insurance for small businesses, long term care insurance and health savings accounts. Lycoming College’s major in Actuarial Science is designed upon the recommendations of the Society of Actuaries. It is a challenging curriculum, but you will be supported by your professors and your fellow students. Classes are small (upper level courses typically consist of 5-15 students) and are taught by full-time, seasoned faculty members. You’ll have plenty of study buddies as you and your friends prepare for the all-important series of actuarial examinations.
If you are interested in analyzing and solving problems that affect the financial security of businesses and individuals, a major in actuarial science might be right for you. Actuaries use skills in statistics and mathematics to measure, evaluate, and plan for the future. Actuaries specialize in math knowledge and have strong computer and analytical skills. Actuaries are also great communicators, and need to be able to share their results with professionals working in government, healthcare, environmental, and construction industries. This program consists of credits consisting of financial mathematics and probability course requirements, electives, and a research component that includes a thesis. Our faculty members have participated on actuarial exam committees and will ensure that you are fully prepared to sit for professional exams given by the Society of Actuaries and the Casualty Actuary Society.
Institutions providing distance education are required to provide certain general disclosures for educational programs, regardless of modality, that prepare students for professional licensure or certification. The required information relates to whether or not the educational program meets the requirements for professional licensure or certification in all other states. Where applicable, an institution must also indicate when such a determination cannot be made.
Another example is the use of actuarial models to assess the risk of sex offense recidivism. Actuarial models and associated tables, such as the MnSOST-R, Static-99, and SORAG, have been used since the late 1990s to determine the likelihood that a sex offender will re-offend and thus whether he or she should be institutionalized or set free. Visit the Community College Agreements page to see the community colleges Rider partners with and the courses that transfer for each major. The major requirements are the same whether students pursue a B.S.B.A. or a B.A.
Early in the Roman empire, associations were formed to meet the expenses of burial, cremation, and monuments—precursors to burial insurance and friendly societies. A small sum was paid into a communal fund on a weekly basis, and upon the death of a member, the fund would cover the expenses of rites and burial. These societies sometimes sold shares in the building of columbāria, or burial vaults, owned by the fund—the precursor to mutual insurance companies.