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Master of Science in Actuarial Sciences
The University of Nebraska - Lincoln (UNL) offers a complete program in Actuarial Science. The graduate program in (UNL) Actuarial Science at the UNL is open to students with undergraduate degrees in a variety of disciplines. No previous course work in Actuarial Science is required.
To be admitted with provisional standing, a student's undergraduate preparation must have included at least 12 hours in principles of economics and courses in mathematics which, in the judgment of the Committee, constitute reasonable preparation. Normally, the minimum mathematical preparation will include three semesters of calculus; one semester of linear algebra; one semester of computer programming and an introductory probability and statistics course.
To be admitted with full graduate standing for work in Actuarial Science, a student must satisfy the requirements for provisional standing. A student must pass Exam P of the Society of Actuaries.
The Masters Degree program must be completed without a thesis (Option II) and all requirements under this option must be met. Option I (with a thesis) is not open for this degree. The non-thesis route (Option II) is required because students will find the additional course work more valuable to them than the thesis, especially with regards to the Society of Actuaries exams. A total of 36 hours is required. The MS degree program is expected to take two years (24 months) for students admitted with deficiencies. For those admitted without deficiencies it normally takes 21 months, including the summer.
In place of the usual major and minor requirements, the master program must include Actuarial Science 840, 870, 871 and 873, and Finance 812, and at least 6 additional hours from Actuarial Science. The program must include at least 12 hours earned in courses open exclusively to graduate students (900 level courses or 800 level courses without 400 or lower level counterparts).
Minors are available in Insurance, Economics (non-Insurance), Statistics, or Finance. However, the recommended minor is Finance. These minors are subject to the approval of the Actuarial Science Graduate Committee. Minors require at least 9 hours in the minor area in addition to the major requirements cited above.
*CAS/SOA VEE denotes courses approved for credit from the professional actuarial organization if the student achieves a grade of B- or better.
Students enrolled in other departments may choose to use Actuarial Science as their minor area under Option II. A minor in Actuarial Science must include Actuarial Science 840, 870, 871 and 873. Students wishing to do this should contact the Chairperson or Advisor of their major area, and the Director of the Actuarial Science Program.
It should be noted that within the Actuarial Science program the normal graduate school scholarship requirement, "B" or better applies to all 800 level major & minor courses. The normal graduate school scholarship requirement, "C" or better, for 900 level courses remains the same for the Actuarial degree program. However, a student who receives a "C" grade or lower in his/her minor area may be required to take a Comprehensive Exam in the minor area.
The Memorandum of Courses, which contains the proposed list of courses for the student's graduate program, must be filed with the Graduate Studies Office (1100 Seaton Hall) before the end of the second semester has been completed. Students should check with the Graduate Office for further clarification.
The following courses cannot be included as a part of your memorandum of courses:
Economics 815, 816, 819, 837 and 854; Math 800, 813, 814, 820, 821 and 822; Statistics 880, 881; Computer Science 840
Masters degree students will be expected to pass a written comprehensive examination on Actuarial Science. The Actuarial Science Comprehensive Exam for students graduating in May or August is held on the first Tuesday of April and for students graduating in December on the Tuesday before Thanksgiving. Students may be expected to pass another written comprehensive examination on their minor area. Check with your Minor Department. In addition, an oral examination may be required.
Scheduling of Classes
The scheduling of the courses for an actuarial science graduate student depends on the student's background. Appropriate adjustments are needed for students who do not have the prerequisites for the various classes. The core courses and other necessary courses should be worked into the schedule according to the individual student's preferences and area of concentration.
EACH STUDENT SHOULD CONSULT WITH HIS/HER ACADEMIC ADVISOR REGARDING THE DETAILS OF THE STUDENT'S INDIVIDUAL PROGRAM.
For additional information concerning the actuarial profession and the UNL Actuarial Science Program contact:
Additional information about an actuarial career and the actuarial profession is available at: www.BeAnActuary.org.
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