Actuaries analyze the financial costs of risk and uncertainty. Actuaries are in high demand, with the job outlook expected to grow much faster than average in the next decade. This certificate program is designed to prepare current and returning students for a career as an actuary. Students completing the certificate are prepared to pass the P/1 (Probability) and FM/2 (Financial Mathematics) examinations, and would obtain VEE credit for economics, corporate finance, and applied statistical methods topics once a second actuarial examination is passed. The certificate requires a total of 31 or 32 credit hours and can be completed concurrently with a Penn State Behrend degree or via continuing education.
- MATH 230: Calculus and Vector Analysis (4 credits)
- STAT 301: Statistical Analysis I (3 credits)
- STAT 401: Experimental Methods OR SCM 200 Introduction to Statistics for Business OR STAT 200 Elementary Statistics (3 or 4 credits)
- STAT 414: Introduction to Probability Theory (3 credits)
- STAT 462: Applied Regression Analysis (3 credits)
- ECON 481: Business Forecasting Techniques OR ECON 485 Econometrics (3 credits)
- ECON 102: Introductory Microeconomic Analysis and Policy (3 credits)
- ECON 104: Introductory Macroeconomic Analysis and Policy (3 credits)
- FIN 301: Corporation Finance (3 credits)
- FIN 427: Derivative Securities (3 credits)
To earn the Actuarial Mathematics and Statistics Certificate, students must earn a "C" or better in each of the above courses.
Frequently Asked Questions
Q: Is the actuarial mathematics and statistics program available in the evenings or on weekends?
Q: Can the actuarial mathematics and statistics program be completed via the internet?
Q: What prerequisites are required before entering this program?
A: MATH 141 and ACCTG 211. FIN 427 has a prerequisite of FIN 420 that may be waived with permission from the instructor.
Q: Can I use courses from my major or minor to complete the certificate?
A: Yes. Any of the above courses may be used to complete requirements for a major, minor, or certificate simultaneously unless otherwise specifically stated by another program of study.
Q: Are there any other courses that are recommended, but not required, for the certificate?
A: Yes. A series of 1-credit SAS courses are available through the Penn State World Campus that employers have indicated are useful. They are:
- STAT 480: Introduction to Statistical Program Package
- STAT 481: Intermediate SAS for Data Management
- STAT 482: Advanced Statistical Procedures in SAS
Q: Where can I find more information about preparing for the P/1 and FM/2 exams?
A: From the Be an Actuary website.
For more information, please contact Dr. Michael Rutter, Associate Professor of Statistics, at [email protected] or 814-898-6272.