Program Mission:
Actuarial Science is a discipline that uses probability, statistics, and other mathematical methods to assess risk and its financial impact. Finance, economics and computer science are also important components of actuarial study. Actuaries, who must pass a series of rigorous professional exams to be fully credentialed, find employment with insurance companies, banks, government agencies, investment houses, consulting firms, and many other kinds of organizations.
The mission of the Morgan State University Actuarial Science Program, the only formalized program in the state of Maryland approved by Maryland Higher Education Commission, is to increase the number of highly qualified students, especially among underrepresented populations, entering careers in actuarial and actuarial-related fields.
The Actuarial Science Program offers the following degrees:
- Bachelor of Science in Actuarial Science
- Bachelor of Science in Actuarial Science with a Concentration in Pure Math
- Minor in Actuarial Science
The curricula for these degrees include courses covering the learning objectives for the preliminary actuarial examinations in Probability (Exam P) and Financial Mathematics (Exam FM). Exposure to subject matter required for examinations in Financial Economics (MFE), Life Contingencies (MLC), and Construction and Evaluation of Actuarial Models (C) is also provided. Courses approved by the Society of Actuaries to fulfill Validation by Educational Experience (VEE) credits in finance, statistics, and economics are also offered.
Full and partial tuition scholarships are available for students who qualify. The Program includes extensive prep for actuarial exams and valid internship experiences.
Program Requirements:
Students must meet all University, General Education, and School requirements and pass the Senior Departmental Comprehensive Examination. Students must take all junior and senior-level actuarial science courses at Morgan unless granted prior written permission by the Dean to complete courses elsewhere.
Retention in the Actuarial Science Program requires students to maintain a cumulative GPA of 2.50, or higher. Any student whose GPA drops below 2.50 may be dropped from the program. Students must not have any outstanding grades below “C” in the major/minor. This includes all major courses and required supporting courses. In addition, students must complete all Validation by Educational Experience (VEE) requirements for Applied Statistical Methods, Corporate Finance and Economics; sit for at least one Society of Actuaries examination prior to graduation; and must prepare and present a senior thesis on an actuarial science-related topic under the supervision of a qualified faculty member or professional actuary.