Actuarial Science Minor

The Actuarial Science minor is designed to satisfy the needs of students interested in actuarial careers, especially in business. It will give you the fundamental knowledge and skills vital to meeting the demands of an actuarial career, and will prepare you for two of the required national actuarial exams.   

Offered by: Department of Mathematics and Department of Business Administration

What are the requirements for the minor?

Minor Program: 18 cr*
1. Required Courses: 12 cr Prerequisites
ECON 110: Principles of Macroeconomics  
ECON 120: Principles of Microeconomics  
MATH 301: Probability and Statistics I MATH 224 & MATH 283 #
MATH 305: Mathematics of Finance I MATH 182
2. Elective Courses: Choose 2 courses (6 cr); at least 1 must be outside of your major 
ECON 205: Intermediate  Microeconomics ECON 110 & ECON 120
ECON 210: Intermediate Macroeconomics ECON 110 & ECON 120
MATH 302: Probability and Statistics II MATH 301
MATH 306: Mathematics of Finance II MATH 305
MATH 372: Independent Study and/or Project in Mathematics**  
MATH 403: Analysis of Data Sets MATH 302

Notes on the Actuarial Science Minor:

  1. *No student may count more than three courses from their major program checksheet.         
  2. A student must take at least one course at the 200 level or above from a department outside of their major.
  3. **To count MATH 372 in this minor: the topics should be related to Probability & Statistics, Mathematics of Finance, and/or Economics.
  4. # The prerequisite for MATH 224 is MATH 181 with a C or better.   The prerequisite for MATH 283 is MATH 182 with a C or better.  

What is an actuary?  

Actuaries are business professionals who deal with the financial impact of risk and uncertainty, analyze, manage and measure the financial implications of future risk, develop and validate models and communicate results to guide decision-making.

Why be an actuary?

  • Top-Ranked---one of the top jobs in the United States     
  • High earnings potential---great starting salaries that can double within the first five years     
  • Job security---less sensitive to economic cycles  
  • Impressive impact--- high-level business decision-making in every industry
  • Life in balance--- low-stress, highly sought-after work/life balance

What do actuaries do?

Actuarial Science graduates go on to work for:

  • Insurance Industry
  • Employee Benefit Industry
  • Financial Services Industry
  • Government

What KU students have passed actuarial exams?

  • Exam P/1: ​ Trevor Wylezik, Charlotte Saternos '22, Collin Levis '22, Robert Koch '18, Bradley Mayer '15, Michael Pol '15
  • Exam FM/2: Trevor Wylezik, Charlotte Saternos '22, Collin Levis '22, Robert Koch '18, Ian Haberle '16, Bradley Mayer '15

Where can I find more information?

E-mail Dr. Ju Zhou (Department of Mathematics) or visit the following websites: 

Actuarial Science students may also be interested in:

Statistics and Actuarial Science Club Mathematics Major and Minor Programs
College of Business Student Organizations Business Administration Major and Minor Programs