Actuarial Studies Major

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 Number	Course Name	Credits
MATH.1020	Freshman Seminar in Mathematics¹	0-1
MATH.1310 / MATH.1410	Calculus I / Honors Calculus I (MATH)	4
ECON.2010	Principles of Microeconomics (SS), (QL)	3
ENGL.1010 / HONR.1100	College Writing I / First Year Seminar in Honors: Text in the City (CW)	3
xxxx.xxxx	Sciences with Lab Perspective (SCL)	4
Total		14-15

Spring Semester

Course Number	Course Name	Credits
MATH.1320 / MATH.1420	Calculus II / Honors Calculus II	4
ECON.2020	Principles of Macroeconomics (SS)	3
ENGL.1020	College Writing II (CW)	3
xxxx.xxxx	Sciences with Lab Perspective (SCL)	4
Total		14

Sophomore Year

Fall Semester

Course Number	Course Name	Credits
MATH.2310 / MATH.2410	Calculus III / Honors Calculus III	4
MATH.2210	Introduction to Linear Algebra	3
ACCT.2010	Accounting/Financial	3
xxxx.xxxx	Arts and Humanities Perspective (AH)²	3
xxxx.xxxx	STEM Perspective (STEM)	3
Total		16

Spring Semester

Course Number	Course Name	Credits
FINA.3010	Finance Management	3
MATH.2190 / MATH.3230	Discrete Structures I / Introduction to Proofs	3
MATH.3850	Applied Statistics	3
xxxx.xxxx	Arts and Humanities Perspective (AH)²	3
xxxx.xxxx	Computing Elective³	3-4
Total		15-16

Junior Year

Fall Semester

Course Number	Course Name	Credits
MATH.4070	Probability and Mathematical Statistics I	3
FINA.3210	Investments and Portfolio Analysis (CTPS)	3
xxxx.xxxx	Arts and Humanities Perspective (AH)²	3
xxxx.xxxx	Social Sciences Perspective (SS)²	3
xxxx.xxxx	Free Elective⁴	3
Total		15

Spring Semester

Course Number	Course Name	Credits
MATH.3750	Senior Seminar I	1
MATH.4860	Probability and Math Statistics II	3
FINA.3310	Principles of Corporate Finance	3
xxxx.xxxx	Free Elective⁴	3
xxxx.xxxx	Free Elective⁴	3
xxxx.xxxx	Free Elective⁴	3
Total		16

Senior Year

Fall Semester

Course Number	Course Name	Credits
MATH.4750	Senior Seminar II (AIL), (IL), (WOC)	3
MATH.5910	Linear Statistics Modeling and Regression	3
xxxx.xxxx	Free Elective⁴	3
xxxx.xxxx	Free Elective⁴	3
xxxx.xxxx	Free Elective⁴	3
Total		15

Spring Semester

Course Number	Course Name	Credits
MATH.5930	Experimental Design	3
xxxx.xxxx	Free Elective⁴	3
xxxx.xxxx	Free Elective⁴	3
xxxx.xxxx	Free Elective⁴	3
xxxx.xxxx	Free Elective⁴	1-3
Total		13-15

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:

COMP.1010 / COMP.1030L Computing I w/Lab
COMP.1020 / COMP.1040L Computing II w/Lab
MATH.2720 Introduction to Programming with MATLAB
MATH.4190 Mathematica
MATH.4660 Stat Program Using SAS
MATH.5750 Applied Statistics with R
MATH.5760 Statistical Programming using SAS
INFO.2030 Introduction to Programming with Python
INFO.2110 Introduction to Programming W/C I
INFO.2120 Introduction to Programming with C - Part II
INFO.2670 C Programming
INFO.2680 C++ Programming
INFO.2820 Python Programming
INFO.3600 Intro. to Data Structures with C
INFO.3640 Problem Solving with C

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

Students only need to complete enough free elective credits to reach 120 total credits.
Courses with the MATH prefix must be at or above the level of MATH.1225 Precalculus Mathematics I in order to count towards the minimum 120 credits required to graduate.
No more than 54 credits of MATH coursework may be applied towards the minimum 120 credits requirement to graduate.
The following courses do not count towards the minimum 120 credits to graduate: MATH.1280, MATH.1380, MATH.1390, MATH.1510, MATH.2195, MATH.2270, MATH.2830, MATH.3600, MATH.3630, ECON.2110, ECON.2120, PHYS.3810

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:

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

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

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.

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At a Glance

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BA in Actuarial Studies Overview

What Can You Do with an Actuarial Studies Major?

Courses You'll Take

Freshman Year

Fall Semester

Spring Semester

Sophomore Year

Fall Semester

Spring Semester

Junior Year

Fall Semester

Spring Semester

Senior Year

Fall Semester

Spring Semester

Why Major in Actuarial Studies at UMass Lowell?

Prepare for Actuarial Exams

Exam Fee Reimbursement

Internships

Bachelor's-to-Master's

Meet Our Students

Take the Next Step — Apply

Take a Virtual Tour of UMass Lowell

Life on Campus

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