Actuarial Science
Bachelor of Science
At Xavier, you'll study coursework that covers topics dealt with by actuaries and prepare for actuarial exams focused on probability, financial mathematics and statistics and risk modeling. You'll also complete coursework that provides Validation by Educational Experience (VEE) credits in the actuarial field and have many opportunities to network with practicing actuaries in the Cincinnati area.
Fall
- Math 170 - Calculus............ 4cr.
- Math 225 - Foundations of Higher Mathmatics............ 3cr.
- Historical Perspectives............ 3cr.
- English 101 - English Composition............ 0cr.
- Core 100 - First Year Seminar............ 3cr.
- Core 101 - GOA............ 0cr.
Spring
- Math 171 - Calculus II............ 4cr.
- Actuarial Science 101 - Intro to Actuarial Science............ 3cr.
- Econ 200 - Microeconomics............ 3cr.
- Philosophy 100 - Ethics as Introduction to Philosophy............ 3cr.
- Theology 111 - Theological Foundations............ 3cr.
- Core 102 - GOA............ 0cr.
Fall
- Math 220 - Calculus III............ 4cr.
- Math 256 - Intro to Probability & Statistics............ 3cr.
- Acct 200 - Intro to Accounting............ 3cr.
- Econ 201 - Macroeconomics............ 3cr.
- second language 1............ 3cr.
Spring
- Math 240 - Linear Algebra............ 3cr.
- Computer Science 170 - Computer Science I............ 3cr.
- Finance 300 - Business Finance............ 3cr.
- Scientific Perspectives............ 3cr.
- second language II............ 3cr.
Fall
- Math 311 - Probability............ 4cr.
- Finance 365 - Investments............ 3cr.
- English 205 - Literature and the Moral Imagination............ 4cr.
- Natural Sciences Elective............ 3cr.
- Oral Communication Elective............ 3cr.
Spring
- Math 312 - Statistical Inference............ 3cr.
- Math 230 - Differential Equations............ 3cr.
- Finance 465 - Options and Future Markets............ 3cr.
- Creative Perspectives............ 3cr.
- Writing Intensive Elective............ 3cr.
Fall
- Philosophical Perspectives ............ 3cr.
- Humanities Elective............ 3cr.
- E/RS Elective............ 3cr.
- Elective............ 3cr.
- Elective............ 3cr.
Spring
- Actuarial Science 201 - Actuarial Mathematics............ 3cr.
- DCR Elective............ 3cr.
- Theological Perspectives............ 3cr.
- Elective............ 3cr.
- Elective............ 3cr.
Intro to Actuarial Science (MACS 101)
This course is an introduction to actuarial science. The course consists of presentations introducing various topics dealt with by actuaries, weekly lab activities to provide in-depth work with these ideas and presentations from actuaries regarding their work. Specific topics include mortality tables, interest theory, probability, principles of insurance and reserves.
Actuarial Mathematics (MACS 201)
This course is an introduction to Actuarial Mathematics. Topics include survival distributions and life tables, force of morality, laws of morality, life insurance, life annuities, benefit premiums and benefit reserves.
Data Modeling (MATH 257)
This course explores the techniques and tools essential for analyzing and interpreting data, including exploratory data analysis, visualization, logistic regression, multiple regression models and model selection. The course also covers advanced topics such as Analysis of Variance, multiple comparisons and experimental design, providing students with a comprehensive understanding of statistical modeling for real-world applications.
Linear Algebra (MATH 240)
This course delves into the fundamentals of linear systems, matrix operations and transformations, covering topics such as Gaussian elimination, vector spaces, determinants, eigenvectors and inner products. Students explore the algebraic structures underlying solutions to linear equations and gain insight into essential concepts like diagonalization and the Gram-Schmidt process for orthonormalization.
Options & Futures Markets (FINC465)
This course covers the intricacies of options and futures trading strategies, mastering the valuation techniques for these financial instruments and understanding the principles of hedging to manage risk effectively in the market.
Actuarial Science Club
Xavier's Actuarial Science Club is the perfect fit for those looking to explore the possibilities of a career as an actuary. Students in the actuarial science major hear testimonies from actuaries in the field, have the chance to job shadow at a local insurance company in Cincinnati and even travel to meet with fellow numbers people. They also meet for study groups regularly.
Mathematics Club
The Xavier University Mathematics Club promotes the interest of mathematics at Xavier University and facilitates interaction among math undergraduates, graduates and faculty. Also, Mathematics Club links students to the worldwide mathematical community.
Minorities in STEM Succeeding Together
Become part of a supportive community dedicated to empowering minority STEM majors. Discover a space where you can thrive, connect with peers and build confidence in your identity while pursuing excellence in STEM.
Program Features
Our curriculum prepares you for the challenging actuarial exams, covering content for the P (Probability), FM (Financial Mathematics), IFM (Investment and Financial Markets) and LTAM (Long-Term Actuarial Mathematics) exams.
The actuarial science major at Xavier University— the only of its kind in Southwest Ohio— is an interdisciplinary program that covers the mathematical, statistical, computational and business background needed to succeed in the actuarial field.
Our location in Cincinnati Ohio centers you in the middle of an insurance and financial hub, giving you unparalleled access to internships, networking and job opportunities with major employers.
Our Jesuit foundation cultivates a holistic approach, emphasizing ethical decision-making, critical thinking and a commitment to using your analytical abilities for the common good.
Connect with actively practicing actuaries and industry leaders through our dedicated Professional Mentor Program.
Hear firsthand why students love Xavier, life in Cincinnati and their chosen academic majors.
FAQ
Our actuarial science program equips you with the skills, connections and ethical framework to excel in the world of actuarial science. Learn more- Insurance companies: This is the most common path, where actuaries help determine insurance premiums, assess risk, and develop new products.
- Consulting firms: Actuaries can work as consultants, providing expertise to various industries on risk management, financial modeling, and pricing strategies.
- Government agencies: Government agencies often employ actuaries to manage pension plans, evaluate social programs, and assess public health risks.
- Financial institutions: Banks, investment firms, and other financial institutions may hire actuaries to manage investment portfolios, assess risk, and price financial derivatives.
- Reinsurance companies: These companies provide insurance to other insurance companies, and actuaries play a crucial role in pricing reinsurance contracts and assessing risk.
- Strong mathematical and statistical skills: Actuaries must be proficient in mathematics, including calculus, probability, and statistics. They use these skills to analyze data, model risk, and calculate insurance premiums.
- Analytical skills: Actuaries must be able to analyze complex data sets and identify patterns and trends. They use these skills to assess risk and develop pricing strategies.
- Problem-solving skills: Actuaries must be able to solve complex problems, often involving multiple variables and uncertainties. They use these skills to develop innovative solutions to risk management challenges.
- Computer skills: Actuaries must be proficient in using computer software, including spreadsheet programs, statistical software, and actuarial modeling software.
- Financial knowledge: Actuaries must have a strong understanding of financial concepts, such as interest rates, investment returns, and risk management.
Yes. The University Scholars Honors Program offers incoming students a more challenging curriculum and close support from professors while completing their undergraduate degree. Acceptance into the program is highly selective and includes a $2000 travel grant.
Actuarial Science Program at Xavier University
The Actuarial Science program at Xavier University has a long and proud history as the only Actuarial Science program in Southwest Ohio. The discipline is particularly important in the insurance and finance industries where understanding risk is essential to providing services that offer financial security and peace of mind regardless of the uncertainty in daily life. This program resides in the Department of Math within Xavier's College of Arts and Sciences.
Xavier University’s College of Arts and Sciences challenges students to develop an integrated understanding of humanity, the world, and God by pursuing the questions raised in Xavier's core and departmental curricula. The College of Arts and Sciences is the oldest and largest college at Xavier University. The college provides an excellent liberal arts education in the Jesuit tradition that prepares students for careers, professional or graduate school, and life in a global society.
Xavier University is a private university located in Cincinnati, Ohio, providing a liberal arts education in the Jesuit Catholic tradition. Founded in 1831, the University is the sixth-oldest Catholic university in the nation. It has been ranked among the top 10 master's-level universities in the Midwest by U.S. News & World Report for the past two decades. The Princeton Review names it one of the "Best 385 Colleges in America."