Take your place as an expert in the growing field of actuarial science. Take your place as an expert in the growing field of actuarial science. Take your place as an expert in the growing field of actuarial science. Take your place as an expert in the growing field of actuarial science. Take your place as an expert in the growing field of actuarial science.

College of Arts & Sciences

Department of Mathematics

Actuarial Science

Questions?

Undergraduate Admission

(630) 637-5800

admissions@noctrl.edu

Why pursue an actuarial science degree at North Central College?

North Central is recognized on the Society of Actuaries listing of Universities and Colleges with Actuarial Programs (UCAP), and we’re also one of the few schools with a full-fledged actuarial science major offered jointly by two departments—mathematics and finance. This exposure to “both sides of the house” will vastly expand your job options after graduation. And because we keep our classes small, you’ll receive all the personal attention you need to prepare for the probability and financial mathematics exams you’ll need to pass before working in the field. In the last three years, the pass rates for actuarial exams for our students is between 75 and 90 percent. In addition, students who have passed two exams and have a summer internship by their senior year have 100 percent job placement in the actuary industry.

You can also:

  • Conduct research with your professors as early as your first year on campus.
  • Attend local, regional and national professional conferences.
  • Gain hands-on experience by interning in the Naperville area and Chicago.
  • Obtain extra help from a peer tutor—or become one yourself.
  • Join the Actuarial Science Club and the mathematics honor society Pi Mu Epsilon.
  • Take VEE courses approved by the Society of Actuaries (SOA) in applied statistical methods, economics and corporate finance.
  • Take courses to help you prepare for the first two actuarial exams.
  • Have fees reimbursed if you pass an actuarial exam.

More Department information

Actuarial Science, B.S.

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

Major Requirements

  • 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.

    Prerequisite(s)

    MATH 140 or placement; Four years of math including algebra, geometry and trigonometry recommended.

    Cardinal Directions Designation(s)
    Quantitative Analysis.

    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.

    Prerequisite(s)

    MATH 151.

    Cardinal Directions Designation(s)
    Quantitative Analysis.

    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.

    Prerequisite(s)

    MATH 152.

    Cardinal Directions Designation(s)
    Quantitative Analysis.

    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.

    Prerequisite(s)

    MATH 152.

    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.

    Prerequisite(s)

    Concurrent enrollment in MATH 265.

    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.

    Prerequisite(s)

    MATH 253MATH 280 recommended.

    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.

    Prerequisite(s)

    MATH 253.

    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.

    Prerequisite(s)

    MATH 260 or MATH 340; CSCE 210.

    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.

    Prerequisite(s)

    MATH 265 and MATH 340.

    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.

    Prerequisite(s)

    MATH 130 or higher.

    Cardinal Directions Designation(s)
    Social Science.

    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.

    Prerequisite(s)

    MATH 130 or higher; ECON 200 recommended.

    Cardinal Directions Designation(s)
    Social Science.

    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.

    Prerequisite(s)

    ECON 200ECON 205; BUSN 265 or MATH 340.

    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.

    Prerequisite(s)

    ACCT 201 and ECON 200; BUSN 265 or MATH 152 or concurrent enrollment.

    Schedule Of Classes

Additional Requirements for the B.S. Degree

  • 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.

    Prerequisite(s)

    CSCE 160.

    Schedule Of Classes

Recommendation

It is strongly recommended that Actuarial Science majors pass at least one actuarial exam (preferably in 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

Invest in your future

Choosing the right college is a big decision. Don’t make it alone. North Central’s admission and financial aid team is here to help you design a financial aid solution that works best for you and your family. 

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

Apply to North Central College

The first step to becoming a North Central student is reading the application instructions specific to you. Find out everything you need to know about applying by selecting the group you belong to below.


Related Programs

Explore Similar Programs