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ACTSC_BS Degree Requirements for 2023

Smeal College of Business baccalaureate degree requirements in Actuarial Science (ACTSC_BS) for 2023. Students new to Penn State in Spring 2023 follow these requirements.

Smeal College - Risk Management Department

This is a tentative program plan for Actuarial Science beginning in Spring 2023.

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)]
                    STAT (MATH) 415 – Introduction to Mathematical Statistics (3) [Prerequisite: STAT (MATH) 414]
                    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)] [Fall and Spring]
                    RM 411 – Long Term Actuarial Mathematics - Fundamentals (3) [Prerequisite: C or better in RM 410 and STAT (MATH) 414] [Fall]
                    RM 421 – Short Term Actuarial Mathematics - Fundamentals (3) [Prerequisite: C or better in RM 410 and STAT (MATH) 415] [Spring]
                    RM 430 – Life and Health Insurance (3) [Prerequisite: RM 320W] [Fall]

              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 412 – Long Term Actuarial Mathematics - Advanced Topics (3) [Prerequisite: C or better in RM 411] [Spring]
                    RM 422 – Short Term Actuarial Mathematics - Advanced Topics (3) [Prerequisite: C or better in RM 421]
                  b. Complete one course from the following (3 credits)
                    STAT 380 – Data Science Through Statistical Reasoning and Computation (3) [Prerequisite: STAT 200 and STAT 184] {Spring]
                    STAT 462 – Applied Regression Analysis (3) [Prerequisite: STAT 200 or STAT 240 or STAT 250 or STAT 401] [Fall and Spring]
                    STAT 483 – Statistical Programming in SAS (3) [Prerequisite: Three credits in Statistics] [Fall]

              E. ELECTIVES – Complete 8 credits

                  First-Year Seminar (1 credit)
                  RM 214 - Applications of Probability Theory to Actuarial Science (1.5 credits) [Prerequisite: C or better in MATH 141; Co-requisite STAT (MATH) 414; Concurrent MATH 230 or MATH 231] [Fall and Spring]
                  Additional Credits (5.5 credits)

               

               

              Suggested Academic Plan for Students Starting at University Park

              First Semester Second Semester
              PSU 6 – First Year Seminar 1 MGMT 301 – Basic Management Concepts [1,2] 3
              MATH 140 – Calculus with Analytic Geometry I [1,2] 4 MATH 141 – Calculus with Analytic Geometry II [1,2] 4
              ENGL 15, ENGL 30, ESL 15, or ENGL/CAS 137H – English Comp. [1,2] 3 World Language – level three [3] 4
              ECON 102 (GS) – Introductory Microeconomic Analysis and Policy [2] 3 SCM 200 or STAT 200 – Statistics [1,2] 4
              World Language – level two [3] 4
              Semester Credits 15 Semester Credits 15
              Third Semester Fourth Semester
              MKTG 301 – Principles of Marketing [1,2] 3 FIN 301 – Corporation Finance [1,2] 3
              ACCTG 211 – Financial and Managerial Accounting [1,2] 4 STAT (MATH) 414 – Introduction to Probability Theory [1] 3
              ECON 104 – Introductory Macroeconomic Analysis and Policy 3 CAS 100 or ENGL/CAS 138T – Speech Communication [1] 3
              MATH 231 – Calculus of Several Variables [1] 2 MIS 250 – Introduction to Problem Solving with Spreadsheet Analysis and Information Systems Management 3
              General Education Course (US) [4] 3 RM 214 – Applications of Probability Theory to Actuarial Science 1.5
              General Education Course (GHW) 3
              Semester Credits 15 Semester Credits 15
              Fifth Semester Sixth Semester
              RM 320W – Risk Management and Insurance [1] 3 RM 421 – Short Term Actuarial Mathematics - Fundamentals [1] 3
              RM 410 – Financial Mathematics for Actuaries [1] 3 ENGL 202D – Business Writing [1] 3
              BLAW 341 – Business Law I: Contracts, Liability and Property or BA 342 – Ethical and Sustainable Business Practices 3 BA 342 – Ethical and Sustainable Business Practices or BLAW 341 – Business Law I: Contracts, Liability and Property 3
              STAT (MATH) 415 – Introduction to Mathematical Statistics [1] 3 General Education Course (IL) [4] 3
              General Education Course (N) [4] 3 General Education Course [4] 3
              Semester Credits 15 Semester Credits 15
              Seventh Semester Eighth Semester
              RM 411 – Long Term Actuarial Mathematics Fundamentals [1] 3 BA 411 – Analyzing Business and Industry 3
              RM 430 – Life and Health Insurance [1] 3 General Education Course (US) [4] 3
              SELECT ONE:
              RM 422 – Short Term Actuarial Mathematics – Advanced Topics
              STAT 380 – Data Science Through Statistical Reasoning/Computation
              STAT 462 – Applied Regression Analysis
              STAT 483 - Statistical Programming in SAS
              3 SELECT ONE:
              RM 412 – Long Term Actuarial Mathematics – Advanced Topics
              STAT 380 – Data Science Through Statistical Reasoning/Computation
              STAT 462 – Applied Regression Analysis
              3
              General Education Course [4] 3 General Education Course [4] 3
              General Education Course (Z) [4] 3 General Education Course (GHW) 1.5
              Elective 1.5
              Semester Credits 15 Semester Credits 15

               

               

              Suggested Academic Plan for Students Starting at Commonwealth Campus

              First Semester Second Semester
              PSU 6 – First Year Seminar 1 MGMT 301 – Basic Management Concepts [1,2] 3
              MATH 140 – Calculus with Analytic Geometry I [1,2] 4 MATH 141 – Calculus with Analytic Geometry II [1,2] 4
              ENGL 15, ENGL 30, ESL 15, or ENGL/CAS 137H – English Comp. [1,2] 3 World Language – level three [3] 4
              ECON 102 (GS) – Introductory Microeconomic Analysis and Policy [2] 3 SCM 200 or STAT 200 – Statistics [1,2] 4
              World Language – level two [3] 4
              Semester Credits 15 Semester Credits 15
              Third Semester Fourth Semester
              MKTG 301 – Principles of Marketing [1,2] 3 FIN 301 – Corporation Finance [1,2] 3
              ACCTG 211 – Financial and Managerial Accounting [1,2] 4 STAT (MATH) 414 – Introduction to Probability Theory [1] 3
              ECON 104 – Introductory Macroeconomic Analysis and Policy 3 CAS 100 or ENGL/CAS 138T – Speech Communication [1] 3
              MATH 231 – Calculus of Several Variables [1] 2 ENGL 202D – Business Writing [1] 3
              General Education Course (US) [4] 3 RM 214 – Applications of Probability Theory to Actuarial Science 1.5
              General Education Course (GHW) 3
              Semester Credits 15 Semester Credits 15
              Fifth Semester Sixth Semester
              RM 320W – Risk Management and Insurance [1] 3 RM 421 – Short Term Actuarial Mathematics - Fundamentals [1] 3
              RM 410 – Financial Mathematics for Actuaries [1] 3 General Education Course (N) [4] 3
              BLAW 341 – Business Law I: Contracts, Liability and Property or BA 342 – Ethical and Sustainable Business Practices 3 BA 342 – Ethical and Sustainable Business Practices or BLAW 341 – Business Law I: Contracts, Liability and Property 3
              STAT (MATH) 415 – Introduction to Mathematical Statistics [1] 3 General Education Course (IL) [4] 3
              MIS 250 – Introduction to Problem Solving with Spreadsheet Analysis and Information Systems Management 3 General Education Course [4] 3
              Semester Credits 15 Semester Credits 15
              Seventh Semester Eighth Semester
              RM 411 – Long Term Actuarial Mathematics Fundamentals [1] 3 BA 411 – Analyzing Business and Industry 3
              RM 430 – Life and Health Insurance [1] 3 General Education Course (US) [4] 3
              SELECT ONE:
              RM 422 – Short Term Actuarial Mathematics – Advanced Topics
              STAT 380 – Data Science Through Statistical Reasoning/Computation
              STAT 462 – Applied Regression Analysis
              STAT 483 - Statistical Programming in SAS
              3 SELECT ONE:
              RM 412 – Long Term Actuarial Mathematics – Advanced Topics
              STAT 380 – Data Science Through Statistical Reasoning/Computation
              STAT 462 – Applied Regression Analysis
              3
              General Education Course [4] 3 General Education Course [4] 3
              General Education Course (Z) [4] 3 General Education Course (GHW) 1.5
              Elective 1.5
              Semester Credits 15 Semester Credits 15