Actuarial Science

  • A flexible program which prepares students for the first two exams of the Society of Actuaries and Casualty Actuarial Society.
  • Experienced faculty with both academic and professional credentials
  • An external professional advisory board of local actuaries.
  • Assistance finding internships and preparing for actuarial careers.
  • Validation by Educational Experience (VEE) credit for all three possible courses
  • Opportunities to study abroad at some of the top universities around the world

Haoshu Li ’11, Mathematics major

As of September 2013, Arcadia University offers a major in actuarial science. While the major is new, Arcadia has a long history of a concentration in actuarial science as part of its mathematics major. Our program has many graduates in local and regional insurance companies, consulting firms, and government employment. Our new major will be administered by Dr. Louis Friedler, an Associate of the Society of Actuaries. Our faculty includes Dr. Edward Wolff, a statistician with many years experience preparing students for actuarial careers, Dr Carlos Ortiz, whose publications include several in mathematical finance, and Dr Zaneta Chapman, who has a doctorate in Risk Management and several years experience as an actuary.

Actuaries are the highly paid insurance professionals who use probability to quantitatively assess risk. To advance within the field of actuarial science, individuals must pass a series of exams administered by the Society of Actuaries and the Casualty Actuarial Society. These exams reflect the importance of both mathematics and business to this career; our major combines these two areas of actuarial science.  Our major offers courses covering the material for the first two of these exams.

  • Exam 1/ Exam P: Probability
  • Exam 2/ Exam MF: Mathematical Finance

One of the strengths of our program is the individual attention we give students. We work with students to prepare them for the exams, to assist in writing resumes and applying for positions, and to offer advice on interviewing.

Our major also offers Validation by Education Experience (VEE) actuarial credit in Applied Statistics, Finance, and Economics in cooperation with Arcadia’s School of Global Business. Details are available on the Department website.

Our Advisory Board includes Andrew Martin, Fellow of the Society of Actuaries and Associate Vice President of Penn Mutual Insurance Co. and Jeff Fratantaro, Vice President and Actuary for the AceGroup. Both are graduates of Beaver College/Arcadia University.

We are pleased that the Actuaries Club of Philadelphia supports our program with financial help to partially reimburse students for the expense of taking actuarial exams.


(73 credits as listed below, with Undergraduate Curriculum requirements and electives to total 128 credits)

1. Required mathematics courses

  • MA 201, 202, 203 Calculus I, II, III
  • MA 221 Linear Algebra
  • MA 288 Actuarial Seminar
  • MA 341 Probability
  • MA 342 Mathematical Statistics I
  • MA 343 Mathematical Statistics II
  • MA 361 The Mathematical Theory of Interest
  • MA 362 Derivatives Markets
  • MA 490 Capstone

2. Required business courses

  • BA 201 Financial Accounting
  • BA 380 Principles of Finance
  • BA 382 Investments
  • EC 210 Principles of Macroeconomics
  • EC 211 Principles of Microeconomics

3. Recommended courses

  • BA 283 Introduction to Risk Management and Insurance
  • CS 201 Problem-Solving with Algorithms and Programming I


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