Degree Requirements

In order to receive the M.S. degree, students must complete all requirements of the degree within three years (six consecutive terms, excluding summer) with an overall grade point average of 3.0 (B) or better.

The degree requires completion of 36 points in addition to the Professional Development requirements.

In addition to coursework, students are required to enroll for at least one semester on a noncredit basis and at no additional cost either in an internship or a practitioner seminar series. Also, please note that if the following courses from the Core Courses section below are not completed with a B- or higher, they must be repeated by the student: STAT W4105, STAT W4107, STAT W4109, and STAT W4840.

Transfer credit is not accepted toward the degree, but students may be given advanced standing in the program depending on their academic preparation and at the discretion of the academic adviser. See Course Options, below.

Prerequisites

Students must have a knowledge of elementary economics (equivalent to ECON W1105), linear algebra (MATH V2010), and multivariate calculus (MATH V1202).

Core Courses

  • ACTU K4821. Actuarial Methods. 3 pts.
  • ACTU K4823. Actuarial Models. 3 pts.
  • ACTU K4831. Mathematical Methods of Derivatives Pricing. 1.5 pts.
  • ACTU K4833. Applications of Derivatives Pricing. 1.5 pts.
  • BUSI W4003. Corporate Finance. 3 pts.
  • ECON W3211. Intermediate Microeconomics. 3 pts.
  • ECON W3213. Intermediate Macroeconomics. 3 pts.
  • STAT W4105. Probability. 3 pts.
  • STAT W4107. Statistical Inference. 3 pts.
  • STAT W4440. Linear Regression and Time Series Models. 3 pts
  • STAT W4543. Survival Analysis. 3 pts.
  • STAT W4606. Elementary Stochastic Processes. 3 pts.
  • STAT W4840. Theory of Interest. 3 pts.

Professional Development

  • ACTU K4900. Proseminar in Actuarial Science. 2 pts.
  • ACTU K4995. Internship in Actuarial Science. 2 pts.

Course Options

Students may be exempted from STAT W4105, STAT W4606, and STAT W4107 if they’ve taken equivalent courses prior to enrollment in the program. Students may substitute STAT W4635  Stochastic Processes for Finance   for STAT W 4606.  ACTU K 4830 , Stochastic Processes  for Actuaries is equivalent to ACTU K4831 and ACTU K 4833.  STAT W 4109 is equivalent to STAT W4105 and STAT W 4107 and is the preferred option.  STAT W4437 Time Series Analysis and STAT W4315 Linear Regression Models may be substituted for STAT W4440. Students may be exempted from STAT W4440, and BUSI W4003, ECON W3211, and ECON W3213 if they’ve taken equivalent courses that satisfy the SOA requirements for VEE prior to enrollment in the program. Students may be exempted from ACTU 4840 if they have passed exam FM/2.  The academic adviser grants exemptions based on a transcript review and results on placement examinations administered when necessary.

Students may be exempted from no more than two required courses without substituting required courses with approved electives offered by the other departments or schools of the University. Students not exempted from required courses may also add electives to their program of study with the approval of the academic adviser.
 

Elective Courses

A partial list of elective courses includes:

  • BUSI B6301. Corporate Finance. 3 pts.
  • ECON W2261. Introduction to Accounting and Finance. 4 pts.
  • IEOR E4404. Simulation. 3 pts.
  • MATH W4071. Introduction to the Mathematics of Finance. 3 pts.
  • STAT G6505. Stochastic Methods in Finance. 3 pts.
  • STAT G6503. Statistical Inference in Time-Series Modeling. 3 pts.
  • STAT G8263. Stochastic Differential Equations with Applications. 3 pts.
  • STAT W4201. Advanced Data Analysis. 3 pts.
  • STAT W4240. Data Mining. 3 pts.
  • STAT W4290. Statistical Methods in Finance. 3 pts.
  • STAT W4315 Linear Regression Models. 3 pts.
  • STAT W4413. Nonparametric Statistics. 3 pts.
  • STAT W4437 Time Series Analysis. 3 pts.
  • STAT W6501. Stochastic Processes and Applications. 3 pts.