Actuarial Sciences

The degree requirements and sample four-year plans are listed in the UD Catalog.

​The Department of Mathematical Sciences offers a program in Actuarial Science leading to the Bachelor of Science degree. The major, with courses taught by faculty in the Departments of Economics, Finance, and Mathematical Sciences (among others), provides a strong background in actuarial science, including the satisfaction of all three actuarial science VEE requirements. Students graduating with this degree will be well prepared for the first two actuarial examinations, the foundation of an actuarial career.

A wealth of information about actuarial careers can be found at the Be an Actuary website, which is jointly sponsored by the two main actuarial societies: the Society of Actuaries (SOA), which handles life insurance, pensions, and health care, and the Casualty Actuarial Society (CAS), which handles fire, homeowners, and automobile insurance, etc. These societies independently maintain and administer exams for professionals following the actuarial career track.

There is also an active Actuarial Sciences Club on campus. More information about Actuarial Sciences can be found on the Admissions Web site.

​In order to progress in the profession, actuaries must pass a series of exams. The first few exams cover the same material; each society just has a different name for them.

Exa​​​m 1/Exam P

Any math major at University of Delaware should have no trouble passing the probability exam (called Exam P by the SOA or Exa​m 1 by the CAS) after taking MATH243, MATH349, and either MATH350 or STAT470.​ MATH450 or STAT471 are also recommended, as is doing some limited additional reading on actuarial terminology, which may be downloaded from the SOA Website.

Exam 2/Exam FM

The financial mathematics exam (called Exam FM by the SOA or Exam 2​ by the CAS) should be taken after completion of the department's FM preparation course​ (MATH267​ in spring 2024; MATH 247 thereafter​).​ It may also be useful to complete the Economics and Accounting/Finance Clusters.​

Furthe​​r Preparation

The department is currently revising its curriculum (effective fall 2024) to provide more preparation for the latest iteration of the SOA curriculum. More details will follow.​​

​International students wishing to practice actuarial science in their home country should check with the relevant actuarial society about transferability of coursework and exams.

Dr. Edwards and Dr. Gamage​ have experience in taking some of the exams. Please contact them if you are interested in the actuarial profession and have more questions.