Actuarial Science

Washburn University is proud to be the only school in the state of Kansas that has an actuarial science program recognized by the Society of Actuaries as an advanced undergraduate program. Our coursework prepares majors in this program to be able to pass the first two examinations of the Society of Actuaries.

Actuaries analyze the financial costs of risk. They use mathematics, statistics and financial theory to assess risk, and they help businesses and clients develop policies that minimize the cost of that risk. Actuaries’ work is essential to the insurance industry, and many actuaries are employed within the insurance industry. Others apply their expertise to financial matters outside of the insurance industry, such as developing investment strategies that manage risks and maximize returns for companies or individuals. Actuaries can also work in public sector or as consultants on a contract basis.

A bachelor's degree in actuarial science is available as a bachelor of science or a bachelor of arts. While the core mathematics courses are the same, the other courses required vary. A bachelor of science requires a minor from the natural sciences: biology, chemistry, physics & astronomy, or computer information science. A bachelor of art requires more hours from the humanities and social sciences.

"Washburn University's Actuarial Science program provided the opportunities I needed to position myself higher than actuarial students coming out of other universities. The program provided classes that prepared me for great success in the preliminary exams, helping me pass several exams before graduation. If I hadn't decided to go to Washburn for Actuarial Science, I don't think I would've had half the success I've had in this field." - Brian Oxendine, '14, ASA-designated actuary

Course Requirements

Course Number	Course Title	Credit Hours
MA 151	Calculus and Analytical Geometry I	5
MA 152	Calculus and Analytical Geometry II	5
MA 250	Theory of Interest	3
MA 253	Calculus and Analytical Geometry III	3
MA 301	Linear Algebra	3
MA 343	Applied Statistics	3
MA 344	Mathematical Statistics I	3
MA 345	Mathematical Statistics II	3
MA 346	Regression Analysis	3
MA 347	Stochastic Processes	3
MA 348	Time Series	3
MA 385	Actuarial Mathematics	3
AC 224	Financial Accounting	3
AC 225	Managerial Accounting	3
EC 200	Principles of Microeconomics	3
EC 201	Principles of Macroeconomics	3
BU 374	Principles of Risk & Insurance	3
BU 381	Business Finance	3
BU 483	Investment	3

We also offer MA 271 and MA 349 that are one hour courses designed to prepare students for Actuarial Science Examinations. They are offered on demand or an out-of-sequence basis.