The track in Actuarial Science is designed to prepare students for an actuarial career.
Actuaries use probability models to quantify uncertainty and risk in business problems. Actuaries assemble and analyze data related with risks to answer questions such as how much to charge policy-holders for auto, life or health insurances, how to set up retirement plans, how to formulate investment strategies in light of future risks. They provide an evaluation of risk for their companies for strategic decisions.
Because of the crucial role in such decision making, actuaries are are rewarded accordingly; salaries offered to actuaries are substantial, and there is ample opportunity for advancement in the actuarial profession. Moreover, actuarial careers often lead to upper management and executive positions.
Professional advancement results from passing a series of examinations administered by the actuarial societies and by completion of specific courses approved by the actuarial societies.
The BS track is a mathematically stronger program than the BA track and is designed for students who may wish to pursue a graduate degree in Actuarial Science or related fields.
Refer to the Math Department section on Actuarial Sciences for more detailed information