Actuarial Science utilizes mathematics, statistics, and finance to estimate risk, price products, and determine required reserves in the insurance, banking, and financial services industries. Actuarial Science majors gain skills to understand, evaluate, and manage complex financial products and to communicate short- and long-term risks. Candidates develop deep technical skills, such as the valuation of probabilistic financial instruments and the time value of money. Actuarial Science majors also gain practical experience by applying statistical software and mathematical models to analyze data and forecast a variety of potential outcomes to inform business decisions. Throughout, candidates will develop communication skills needed to interact effectively with stakeholders from a broad spectrum of business backgrounds.
Bentley offers specialized courses to help students prepare for up to four of the professional credentialing exams administered by the Society of Actuaries or the Casualty Actuarial Society. Bentley also offers courses that fulfill all Validation by Educational Experience (VEE) requirements for these societies. Most students complete at least two credentialing exams and one internship during their undergraduate years, and the department maintains close contact with many of our alumni/alumnae who work in this field.
For further information about degree requirement policies and guidelines, see the Degree Requirements page.
Major Requirements
Prerequisite Course
| Course | Title | Credits |
|---|---|---|
| MA 131 | Calculus I | 3 |
| or MA 131L | Calculus I with Lab | |
Program Requirements
| Course | Title | Credits |
|---|---|---|
| Required Courses: | ||
| MA 139 | Calculus II | 3 |
| or MA 139L | Calculus II with Lab | |
| MA 214 | Intermediate Applied Statistics | 3 |
| MA 233 | Calculus III | 3 |
| MA 239 | Linear Algebra | 3 |
| MA 252 | Regression Analysis | 3 |
| MA 263 | Continuous Probability for Risk Management | 3 |
| MA 310 | Actuarial Topics in Probability and Risk Management | 3 |
| or MA 357 | Mathematical Theory of Interest | |
| Select two of the following: | 6 | |
| Discrete Probability | ||
| Actuarial Topics in Probability and Risk Management 1 | ||
| Financial Calculus and Derivative Pricing | ||
| The Mathematics of Discrete Options Pricing | ||
| Mathematical Statistics | ||
| Mathematical Theory of Interest 1 | ||
| Fundamentals of Short-Term Actuarial Mathematics | ||
| Fundamentals of Long-Term Actuarial Mathematics | ||
| Advanced Long Term Actuarial Mathematics | ||
| Introduction to Generalized Linear Models and Survival Analysis in Business | ||
| Total Credits | 27 | |
- 1
If not already used in the major.
General Degree Requirements
Foundations for Success (15 Credits)
| Course | Title | Credits |
|---|---|---|
| FDS 100 | Falcon Discovery Seminar | 3 |
| Communications and Writing | ||
| Select one from: | ||
| EMS 101 | Critical Reading and Writing | 3 |
| or EMS 101L | Critical Reading and Writing with Lab | |
| or EMS 102 | Critical Reading and Writing for Multilingual Students | |
| or EMS 102L | Critical Reading and Writing for Multilingual Students with Lab | |
| And one from: | ||
| EMS 104 | Multimodal Communication | 3 |
| or EMS 105 | Multimodal Communication for Multilingual Students | |
| Information Technology | ||
| CS 100 | Solving Business Problems with Information Technology | 3 |
| Mathematical Sciences | ||
| Select one from: | ||
| MA 105 | Mathematical Foundations for Business | 3 |
| or MA 105L | Mathematical Foundations for Business with Lab | |
| or MA 107 | Applied Calculus for Business | |
| or MA 107L | Applied Calculus for Business with Lab | |
| or MA 131 | Calculus I | |
| or MA 131L | Calculus I with Lab | |
| Total Credits | 15 | |
Context and Perspectives (18 Credits)
| Course | Title | Credits |
|---|---|---|
| Students must take six courses, one in each category of Context and Perspectives: | ||
| Total Credits | 18 | |
Business Dynamics/Business Administration Minor (18 Credits)
| Course | Title | Credits |
|---|---|---|
| All courses are required: | ||
| AC 115 | Introduction to Financial Reporting and Analysis | 3 |
| EC 111 | Principles of Microeconomics | 3 |
| FI 118 | Introduction to Finance | 3 |
| LA 100 | Business Law | 3 |
| MG 116 | Human Dynamics in Organizations | 3 |
| ST 113 | Business Statistics | 3 |
| Total Credits | 18 | |
Communication Intensive
All students are required to take a three-credit course designated as a Communication Intensive. This requirement can be met within a variety of course subjects in both Arts & Sciences and Business. Communication Intensive courses are designated with a "Communication Intensive" course tag in Workday. Transfer students with a minimum of 30 credits will be waived from the Communication Intensive requirement.
Please note that certain majors have an additional three-credit Communication Intensive built into their major requirements, separate from the general CI requirement.
Additional Requirements
Unrestricted Electives (42 Credits)
| Course | Title | Credits |
|---|---|---|
| Select 14 elective courses | 42 | |
| Total Credits | 42 | |