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College of Arts & Sciences

Actuarial Science

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Why pursue an actuarial science degree at North Central College?

Every student in our actuarial program will analyze the financial costs of risk affairs using mathematics, statistics and financial theory. Our program is designed to help you gain educational experience in financial mathematics and expand your career opportunities across industries.

With North Central's actuarial science program, you will have the opportunity to gain hands-on experience as early as your first year on campus. This experience will equip you with the skills to secure key internships and launch a successful career. A career in actuarial science offers a competitive starting salary, opportunities for career growth, job security, and the ability to create meaningful impact.

IF YOU ARE INTERESTED IN

  • Managing and quantifying risk
  • Combining your technical and business skills
  • Solving problems with complex actuarial mathematics

then a degree in ACTUARIAL SCIENCE might be for you.

What is an actuary?

An actuary is a risk management professional that combines mathematics, data science, and applied statistics to ensure institutions minimize financial losses due to unforeseen risks. Actuaries work in a variety of different occupations from consulting firms to human resources.

Why study actuarial science at North Central College?

In the Classroom

Coursework topics:

  • Accounting principles
  • Computer science
  • Corporate finance
  • Data analytics
  • Econometrics
  • Linear algebra 
  • Macroeconomic principles 
  • Microeconomic principles
  • Models for financial economics
  • Money and banking
  • Probability
  • Single variable and multivariable calculus
  • Theory of interest

Beyond the Classroom

As an actuarial science major, you can:

  • Conduct research with professors as early as your first year on campus.
  • Network by attending local, regional and national professional conferences.
  • Gain real-world experience interning with nearby Naperville and Chicago companies such as Aon, Allstate, Blue Cross Blue Shield and more.
  • Participate in peer tutoring or become one yourself.
  • Join the Actuarial Science Club, the professional insurance fraternal society Gamma Iota Sigma and the mathematics honor society Pi Mu Epsilon.
  • Receive preparatory and financial support for industry-required actuarial exams.

More Department information

Actuarial Science, B.S.

For additional programs and courses in this department, see Mathematics.

  • MATH 151 - Calculus I

    MATH 151 - Calculus I

    4.00 credit hours

    An exploration of the fundamental concepts of single-variable calculus including limits, continuity, differentiation and integration with applications.

    Schedule Of Classes

  • MATH 152 - Calculus II

    MATH 152 - Calculus II

    4.00 credit hours

    A continuation of single-variable calculus with emphasis on advanced integration techniques and applications, parametric equations, polar coordinates, and infinite series.

    Schedule Of Classes

  • MATH 253 - Calculus III

    MATH 253 - Calculus III

    4.00 credit hours

    A continuation of calculus with an emphasis on vectors, vector-valued and multiple-variable functions, partial derivatives, line and multiple integrals, vector analysis, Green's, divergence and Stokes' theorems.

    Schedule Of Classes

  • MATH 265 - The Theory of Interest

    MATH 265 - The Theory of Interest

    4.00 credit hours

    Topics in the mathematics of finance that are required for the FM (Financial Mathematics) Exam in actuarial science. Includes the study of Microsoft Excel macros.

    Schedule Of Classes

  • MATH 270 - Financial Mathematics

    MATH 270 - Financial Mathematics

    2.00 credit hours

    Advanced topics in financial mathematics including discounted cash flow analysis, asset management strategies, swaps, pricing, and amortizing bonds and annuities.

    Schedule Of Classes

  • MATH 300 - Linear Algebra

    MATH 300 - Linear Algebra

    4.00 credit hours

    Vector spaces, linear transformations, inner products, eigenvalues and eigenvectors, Gram-Schmidt process and orthogonal transformations. Students may not receive credit for MATH 300 and MATH 255.

    Schedule Of Classes

  • MATH 340 - Probability

    MATH 340 - Probability

    4.00 credit hours

    Basic laws of probability, discrete and continuous distributions of random variables, mathematical expectation, moment generating functions and transformations, random variables with multivariate probability distributions.

    Schedule Of Classes

  • MATH 350 - Data Analytics

    MATH 350 - Data Analytics

    4.00 credit hours

    An overview of the field of statistical learning. Survey of techniques for predictive analytics including model selection and validation methods, linear and non-linear models and supervised and unsupervised learning. Implementation of all techniques will employ appropriate software.

    Schedule Of Classes

  • MATH 370 - Probability for Risk Management

    MATH 370 - Probability for Risk Management

    2.00 credit hours

    Fundamental probabilistic tools for the quantitative assessment of risk.

    Schedule Of Classes

  • MATH 410 - Models for Financial Economics

    MATH 410 - Models for Financial Economics

    4.00 credit hours

    Theoretical basis of financial models and the application of those models to insurance and other financial risks.

    Schedule Of Classes

  • ACCT 201 - Financial Accounting

    ACCT 201 - Financial Accounting

    4.00 credit hours

    An introduction to accounting principles and procedures as they are employed in the communication of financial information to various users, such as management, stockholders and government agencies. Topics include accounting for assets, liabilities, owner's equity and other reporting issues.

    Schedule Of Classes

  • ECON 200 - Principles of Microeconomics

    ECON 200 - Principles of Microeconomics

    4.00 credit hours

    Introduction to the theory of consumer choice, social and individual welfare, the behavior of business firms and market structure, and other applied microeconomic topics.

    Schedule Of Classes

  • ECON 205 - Principles of Macroeconomics

    ECON 205 - Principles of Macroeconomics

    4.00 credit hours

    Introduction to macroeconomic theory, with emphasis on factors which explain changes in national income, unemployment and inflation. Other topics include money and banking, fiscal and monetary policies, distribution of income and economic crises.

    Schedule Of Classes

  • ECON 365 - Econometrics

    ECON 365 - Econometrics

    4.00 credit hours

    This course provides exposure to the estimation and testing of economic models using statistical methods and appropriate empirical data. Emphasis is placed on model construction and the use of multiple linear regression for interpretation, analysis and forecasting.

    Schedule Of Classes

  • FINA 350 - Corporate Finance

    FINA 350 - Corporate Finance

    4.00 credit hours

    An introduction to corporate financial management. Topics include financial statement analysis, discounted cash flow analysis, bond and stock valuation, common stock/debt financing, risk and return, cost of capital, and capital budgeting.

    Schedule Of Classes

  • CSCE 160 - Introduction to Computer Programming

    CSCE 160 - Introduction to Computer Programming

    4.00 credit hours

    An introduction to computer science and programming, emphasizing the development of algorithms and problem solving skills using both procedural and object-oriented approaches. Topics include data types; I/O; arithmetic, relational and logical operators; control structures; functions; simple data structures; different computing environments such as the Linux operating system are also explored. Integrated laboratory.

    Schedule Of Classes

  • CSCE 210 - Data Structures

    CSCE 210 - Data Structures

    4.00 credit hours

    Elementary data structures and algorithms. Topics include the design, implementation, application and variations of the following: linked lists, stacks and queues, different types of trees, searching and sorting algorithms, graphs, and introduction to analysis of algorithms. Extensive programming required. Integrated laboratory.

    Schedule Of Classes

It is strongly recommended that Actuarial Science majors pass at least one actuarial exam (preferably by the summer following their second year) and complete an internship before graduation.

Actuarial Science Internships and Jobs

A North Central education integrates career preparation with rich academic study. Our faculty encourages you to refine and apply your knowledge in an interconnected world. Here you'll learn to think independently and work globally to solve problems and lead.

Our students have recently been awarded internships or have received job
offers from the following companies:

  • Allstate
  • Liberty Mutual
  • Blue Cross Blue Shield
  • Lauterbach & Amen
  • AAIS
  • State Farm
  • Aon
  • Country Financial
  • Mercer
  • Unum
  • CNA
  • W.R. Berkley Corporation
  • Milliman
  • Guarantee Trust Life
  • HUB
  • USLI
  • American Association of Insurance Services
  • BrickStreet
  • Northwestern Mutual
  • Travelers
  • American Family

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Merit scholarships, grants, loans, campus employment - these are just some of the resources available to you. Over 95 percent of students and 100 percent of all eligible students receive aid. Let our team partner with you in finding the best value for your education.

Learn more about financial aid and costs for North Central College

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