Develop the analytical skills and business acumen to excel in the dynamic field of risk management.

At a Glance

  • Flexibility
    Full Time
  • Delivery Options
    On Campus
  • Degree
    BA

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BA in Actuarial Studies Overview

Learn to use the core principles of probability, statistics and financial mathematics to analyze the economic costs of risk and uncertainty. As a student in UMass Lowell's Actuarial Studies program, you will develop a comprehensive understanding of assessing and managing financial problems, which you can apply to real-world problems in insurance, finance, government and other industries. 

  • Prepare for the actuarial preliminary exams.
  • Complete courses that satisfy the educational requirements of professional actuarial societies.
  • Gain access to resources to succeed, such as exam fee reimbursements and opportunities to connect with insurance companies.

What Can You Do with an Actuarial Studies Major?

Actuaries are hired by a wide range of organizations, including insurance companies, consulting firms, financial institutions and government agencies. 

Person working on computer while looking at data charts.

Employment of actuaries is projected to grow 23% from 2022 to 2032, much faster than the average for all occupations (BLS, Occupational Handbook).

With a Bachelor of Arts in Actuarial Studies, you'll be prepared for such careers as:

  • Data analyst
  • Quantitative analyst
  • Financial analyst
  • Research scientist
  • Software engineer

Courses You'll Take

As an Actuarial Studies major, you'll take courses that provide a solid mathematics foundation as well as training in business finance, risk, and management. Sample courses include calculus, micro- and macroeconomics, statistics and finance management. You will also blend math with liberal arts courses that provide the critical thinking, communication and problem-solving skills essential for success as an actuarial professional.

Check out the Actuarial Studies degree pathway (a suggested four-year course schedule) and learning outcomes below.

For students who entered fall 2024 and beyond.

Freshman Year

Fall Semester

Course NumberCourse NameCredits
MATH.1020Freshman Seminar in Mathematics10-1
MATH.1310 /
MATH.1410		Calculus I /
Honors Calculus I (MATH)		4
ECON.2010Principles of Microeconomics (SS), (QL)3
ENGL.1010 /
HONR.1100		College Writing I /
First Year Seminar in Honors: Text in the City (CW)		3
xxxx.xxxxSciences with Lab Perspective (SCL)4
Total14-15

Spring Semester

Course NumberCourse NameCredits
MATH.1320 /
MATH.1420		Calculus II /
Honors Calculus II		4
ECON.2020Principles of Macroeconomics (SS)3
ENGL.1020College Writing II (CW)3
xxxx.xxxxSciences with Lab Perspective (SCL)4
Total14

Sophomore Year

Fall Semester

Course NumberCourse NameCredits
MATH.2310 /
MATH.2410		Calculus III /
Honors Calculus III		4
MATH.2210Introduction to Linear Algebra3
ACCT.2010Accounting/Financial3
xxxx.xxxxArts and Humanities Perspective (AH)23
xxxx.xxxxSTEM Perspective (STEM)3
Total16

Spring Semester

Course NumberCourse NameCredits
FINA.3010Finance Management3
MATH.2190 /
MATH.3230		Discrete Structures I /
Introduction to Proofs		3
MATH.3850Applied Statistics3
xxxx.xxxxArts and Humanities Perspective (AH)23
xxxx.xxxxComputing Elective33-4
Total15-16

Junior Year

Fall Semester

Course NumberCourse NameCredits
MATH.4070Probability and Mathematical Statistics I3
FINA.3210Investments and Portfolio Analysis (CTPS)3
xxxx.xxxxArts and Humanities Perspective (AH)23
xxxx.xxxxSocial Sciences Perspective (SS)23
xxxx.xxxxFree Elective43
Total15

Spring Semester

Course NumberCourse NameCredits
MATH.3750Senior Seminar I1
MATH.4860Probability and Math Statistics II3
FINA.3310Principles of Corporate Finance3
xxxx.xxxxFree Elective43
xxxx.xxxxFree Elective43
xxxx.xxxxFree Elective43
Total16

Senior Year

Fall Semester

Course NumberCourse NameCredits
MATH.4750Senior Seminar II (AIL), (IL), (WOC)3
MATH.5910Linear Statistics Modeling and Regression3
xxxx.xxxxFree Elective43
xxxx.xxxxFree Elective43
xxxx.xxxxFree Elective43
Total15

Spring Semester

Course NumberCourse NameCredits
MATH.5930Experimental Design3
xxxx.xxxxFree Elective43
xxxx.xxxxFree Elective43
xxxx.xxxxFree Elective43
xxxx.xxxxFree Elective41-3
Total13-15

Total Minimum Credits = 120

1MATH.1020 is optional but strongly recommended. If this course is completed, then total free electives are reduced by one credit.

2The Arts and Humanities (AH) and Social Sciences (SS) perspectives are subsets of the Breadth of Knowledge (BOK) requirements in the Core Curriculum. No more than two BOK courses can be taken with the same four-letter prefix.

The Core Curriculum also includes seven Essential Learning Outcomes (ELOs). The Diversity and Cultural Awareness (DCA) ELO and the Social Responsibility and Ethics (SRE) ELO are satisfied outside the major requirements. See the DCA course listing and the SRE course listing for a full list of classes that fulfill these requirements. The Class Search tool can be used to identify AH and SS courses that simultaneously satisfy the DCA or SRE requirement.

The Core Curriculum courses may be taken in any sequence. Refer to the Core Curriculum policy for further details. You should meet with your college-based professional advisor and/or faculty advisor to determine how best to satisfy the Core Curriculum requirements.

3Computing Electives - choose one of the following:

4Free electives can be satisfied by any UML course xxxx.1010 or above, with the following guidelines:

Current UMass Lowell students should use their Advisement Report in SIS. If you need assistance, please contact your advisor.

Restriction on off-campus study

Be advised that any course taken at another institution must be formally approved prior to enrollment. See the catalog policy for details.

A graduate from the Mathematical & Statistical Sciences Department will be expected to be able to:

  1. Develop critical thinking skills which can be applied to a range of disciplines
  2. Read, write, and speak about mathematics
  3. Work as part of a multidisciplinary team on math-related projects
  4. Solve mathematical problems using a variety of tools and strategies
  5. Understand and be able to construct logical arguments
  6. Learn new mathematics independently

Why Major in Actuarial Studies at UMass Lowell?

Two UMass Lowell math students write equations on a whiteboard

Prepare for Actuarial Exams

You will need to pass at least one actuarial exam to start the career. The course work will get you ready for the preliminary exams by providing background for the first exams and building foundations for further exams.

finance students at computer

Exam Fee Reimbursement

Students who pass the preliminary actuary exams will have their exam registration fees reimbursed.

Two Mathematics students working on a math problem on a whiteboard.

Internships

Connect what you learn in the classroom to the real world. Our students have completed internships at diverse companies, including: 

  • John Hancock Financial
  • Lincoln Laboratories
  • MITRE Corporation
  • NASA
Headshot of Linh-Nguyen, a math student at UMass Lowell

Bachelor's-to-Master's

Get on the fast track to an advanced degree with our combined bachelor's-to-master's program.

  • Available to juniors and seniors with a grade point average of 3.000 or better
  • Offers a continuous, coordinated sequence of courses
  • Reduced credit-hour requirements can save you time and money

Meet Our Students

Plane and trucks on an airport runway.
Russell Todd ’81, ’83 ’81, ’83
Environmental Science, Mathematics

Curiosity led Russell Todd ’81, ’83 to a wide-ranging career that included nuclear subs, weather radar and disease outbreak modeling.

My UMass Lowell education prepared me superbly for my career.
Read More About Russell Todd ’81, ’83 
UMass student Karina Provost stands wearing a backpack
Karina Provost '22
Mathematical Sciences

As one of three siblings in college, Karina Provost says her family appreciates financial awards, such as the Kennedy Family Merit Scholarship.

Scholarships have been really helpful. They let me focus more on school.
Read More About Karina Provost 
UMass Lowell student Ginika Okoli smiles while holding two candy bars.
Ginika Okoli '24
Mathematics

A data analytics summer internship at candy giant Mars Inc. gave Ginika Okoli a new perspective on her mathematics degree.

I did not expect myself to be where I am right now, but UMass Lowell has held my hand the whole way.
Read More About Ginika Okoli 
Jacob Solomon in lab
Jacob Solomon ’18
English & Mathematics

Jacob Solomon is as well-rounded as they come. The honors English and math major is assisting with research in a biology lab.

As a college student, I don’t just want to do such-and-such professional task. I want to learn and convince myself that the world is accessible to me.
Read More About Jacob Solomon 
Black and white yearbook photo of 1974 Afro American Club
Deborah Washington Brown '75
Mathematics

One of the first Black women to graduate from UML with a math degree, Deborah Washington Brown ’75 spent her lifetime running toward new challenges.

She single-handedly demolished any stereotypes or reduced expectations we had, and rewrote the attitudinal ‘manual’ for the potential of women and minorities in the sciences. - Prof. Alexander Olsen
Read More About Deborah Washington Brown 

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