Actuarial Sience Degree Requirements - 2018-19

Smeal College - Risk Management Department

B.S. Risk Management (RM_BS) Actuarial Science (ACTSC) Option – Academic Year 2018-19

RM_BS, ERM Option - Suggested Academic Plan 2018-19

A. GENERAL EDUCATION

a. Writing and Speaking (GWS) – Complete 3 credits in each area with grades of C or better (9 credits)

i. Composition – ENGL 015 (3), ENGL 030 (3), ESL 015 (3), ENGL 137H (3), or CAS 137H (3)

ii. Speech – CAS 100 (3), CAS 100A (3), CAS 100B (3), CAS 100C (3), CAS 138T (3), or ENGL 138T (3)

iii. Effective Writing – ENGL 202D (3)

b. Quantification (GQ) – Complete the following two categories with grades of C or better

i. Calculus – MATH 140 (4), or MATH 140B (6)

ii. Statistics – SCM 200 (4) or STAT 200 (4)

c. Global, Cultural, and Integrative Studies – Courses may satisfy General Education, Major, or Elective requirements

i. Complete 6 Inter-Domain (N) and/or Linked (Z) credits

ii. Complete 3 United States Culture (US) credits

iii. Complete 3 International Culture (IL) credits

d. Natural Sciences (GN) – Complete 9 GN credits with at least 3 credits that are not Inter-Domain

e. Arts (GA) – Complete 6 GA credits with at least 3 credits that are not Inter-Domain

f. Humanities (GH) – Complete 6 GH credits with at least 3 credits that are not Inter-Domain

g. Social and Behavioral Sciences (GS) - Complete the following two categories (6 credits)

i. ECON 102 – Introductory Microeconomic Analysis and Policy (3)

ii. Complete 3 GS credits (3)

h. Health and Wellness (GHW) - Complete 3 GHW credits that are not Inter-Domain

B. COLLEGE REQUIREMENTS

a. World Language – Demonstrate proficiency at the 12th credit level (4 credits)

b. ECON 104 – Introductory Macroeconomic Analysis and Policy (3 credits)

c. Foundation Business Courses – Take all of the following at Penn State with grades of C or better (13 credits)

ACCTG 211 – Financial and Managerial Accounting for Decision Making (4) [Prerequisite: MATH 21 or higher or satisfactory score on the mathematics placement examination]

MGMT 301 – Basic Management Concepts (3) [Prerequisite: (ENGL/ESL 15 or ENGL 30 or ENGL/CAS 137H) and (ECON 102 or 104) and MATH 21 or higher or satisfactory score on the mathematics placement examination]

MKTG 301 – Principles of Marketing (3) [Prerequisite: (ENGL/ESL 15 or ENGL 30 or ENGL/CAS 137H) and (ECON 102 or 104) and MATH 21 or higher or satisfactory score on the mathematics placement examination]

FIN 301 – Corporation Finance (3) [Prerequisite: (ENGL/ESL 15 or ENGL 30 or ENGL/CAS 137H) and ACCTG 211 and (ECON 102 or 104) and (SCM 200 or STAT 200)]

d. Core Business Courses - Take all of the following prescribed courses (15 credits)

MIS 204 – Introduction Management Information Systems (3)

BA 342 – Socially Responsible, Sustainable and Ethical Business Practice (3) [Prerequisite: MGMT 301/301W; Concurrent: FIN 301 and MKTG 301 and SCM 301]

BLAW 341 – Business Law I: Introduction to Contracts, Liability Issues, and Intellectual Property (3) [Prerequisite: MGMT 301/301W; Concurrent: FIN 301 and MKTG 301 and SCM 301]

BA 411 – Analyzing Business and Industry (3) [Prerequisite: ACCTG 211, FIN 301, MGMT 301, MKTG 301, and SCM 301]

PLEASE NOTE: Smeal College of Business Residency Policy - Pursuant to accreditation standards of the Association to Advance Collegiate Schools of Business (AACSB), the Smeal College of Business requires that all upper-division courses within the sponsoring department must be completed in residence at University Park under the instruction of Smeal College faculty. Students in the Risk Management (RM_BS) with the Enterprise Risk Management (ERM) Option major must complete all of the following prescribed and additional courses in residence with Smeal College faculty.

C. PRESCRIBED RISK MANAGEMENT COURSES – Take all of the following prescribed courses (9 credits)

A grade of C or better is required in all courses.

MATH 141 – Calculus with Analytic Geometry II (4) [Prerequisite: MATH 140]

MATH 231 – Calculus of Several Variables (2) [Prerequisite: MATH 141]

STAT 414 – Introduction to Probability Theory (3) [Prerequisite: MATH 230 or MATH 231]

RM 320W – Risk Management and Insurance (3) [Prerequisite: FIN 301 and (MATH 110 or MATH 140) and (STAT 200 or SCM 200)] (fall semester)

RM 410 – Financial Mathematics for Actuaries (3) [Prerequisite: C or better in STAT 414; C or better in MATH 230 or MATH 231]

RM 411 – Actuarial Mathematics I (3) [Prerequisite: RM 410]

RM 412 – Actuarial Mathematics II (3) [Prerequisite: RM 411]

RM 430 – Life and Health Insurance(3) [Prerequisite: RM 320W]

D. ADDITIONAL RM_BS, ACTUARIAL SCIENCE OPTION COURSES – Take two courses based on the following (6 credits)

A grade of C or better is required in all courses.

a. Select one course from the following (3 credits)

RM 401 – Fundamentals of Private Pensions (3) [Prerequisite: RM 320W]

RM 420 – Property, Casualty, and Health Insurance (3) [Prerequisite: C or better in RM 410]

b. Select one course from the following (3 credits)

RM 415 – Modeling for Actuarial Science (3) [Prerequisite: C or better in RM 410]

STAT 483 – Statistical Programming in SAS (3) [Prerequisite: 3 units of Statistics]

F. ELECTIVES – Complete 11 credits