ACTSC_BS Degree Requirements - 2022-23

Smeal College - Risk Management Department

B.S. Actuarial Science (ACTSC_BS) – Academic Year 2022-23

ACTSC_BS Suggested Academic Plan for Academic Year 2022-23

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 110 (4), 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 – Complete 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 - Complete the following prescribed courses (12 credits)

MIS 250 – Introduction to Problem Solving with Spreadsheet Analysis and Information Systems Management (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: BLAW 341 and FIN 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 and Eberly College of Science faculty. Students in the Actuarial Science (ACTSC_BS) major complete the following prescribed and additional courses in residence with Smeal College and Eberly College of Science faculty.

C. PRESCRIBED ACTUARIAL SCIENCE COURSES – Complete the following prescribed courses (24 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 (MATH) 414 – Introduction to Probability Theory (3) [Prerequisite: MATH 230 or Concurrent: MATH 232 or (MATH 231 and RM 214)]

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

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

RM 411 – Actuarial Mathematics I (3) [Prerequisite: C or better in RM 410]

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

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

D. ADDITIONAL ACTUARIAL SCIENCE COURSES – Select based on the following (6 credits)

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

a. Complete 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 412]

b. Complete 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: Three credits of Statistics]

E. ELECTIVES – Complete 11 credits