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Master of Science in Actuarial Science Boston University

USA

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32

Course info

Summary

Actuaries use quantitative skills to help others make prudent and intelligent financial decisions. These decisions are based on future predictions that are derived from past and present data analyses. Most actuaries work for life, health, and property/casualty insurance companies. However, many are employed by consulting firms, government agencies, accounting firms, industrial corporations, banks, and financial services companies.

Although actuaries are skilled mathematicians, they are also business professionals who need broad-based business skills. Many actuaries find themselves in high-level management positions. In addition, the prospective actuary needs to prepare for the professional qualifying examinations offered by the Society of Actuaries and the Casualty Actuarial Society. Fellowship in either of these two professional societies assures the public that the actuary has been trained to perform at a high level of competence. Actuaries, as well as other business professionals, are often asked to make decisions that have far-reaching social implications. Very often these decisions involve a balancing of competing social and ethical values that are never fully disclosed or discussed. Examples of such decisions may include issues involving the environment, affirmative action, right to privacy, and plant closings.

Boston University’s Actuarial Science program provides specialized courses in actuarial science and related courses in probability and statistics. The program also offers students a broad-based exposure to business and economic principles along with an opportunity to further their knowledge of mathematics. In addition, the program will prepare each student for the professional qualifying examinations. And finally, the program will provide an opportunity for students to be aware of and understand the ethical dilemmas that are often encountered in the process of business decision making.

Concentrations

Students may select one of two concentrations depending on their areas of interest and preparation:

Insurance
Mathematical Finance

Dual Degree Option

Appreciating the converging nature of management skills and technology, the Department of Actuarial Science has special relationships with Metropolitan College’s Administrative Sciences and Computer Science departments. With prior approval, students in either program are able to apply 8 credit hours from one degree toward a second degree, thereby reducing their work on the second degree by two courses. Students must be accepted independently by both departments but may request that application materials, such as references and transcripts, be forwarded from their initial program to their second.

Learning Outcomes

Detailed knowledge of the mathematics and statistics that form the core of actuarial calculations. This knowledge includes topics in probability, financial mathematics and derivatives, life contingencies, and loss models. Our program emphasized precision, accuracy, and a deep understanding of these core actuarial topics.

Proficiency in distinguishing and describing, in depth, many actuarial practice areas, and an understanding of the principles that govern the development of insurance products for those areas, including emerging trends.

The computer skills required to analyze data using the most current software tools employed by insurance industry leaders.

Course options

Here are the different ways in which you can study Master of Science in Actuarial Science.

Full Time (Total of 43 credits)

Tuition fees

$54,720.00 (40,15,080) per year

From

21 Jan, 20 May, 02 Sep

Venue

Metropolitan College

1010 Commonwealth Avenue, 3rd Floor,

BOSTON,

Massachusetts,

02215, United States

Entry requirement for international students

Applicants to master’s degree and graduate certificate programs must have earned a bachelor’s degree from a regionally accredited institution (or the international equivalent) prior to enrollment.

English proficiency

Unless otherwise indicated by the department/program to which you are applying, the minimum total internet-based TOEFL score is 84, with minimum scores in each section as follows: Reading—21; Listening—18; Speaking—23; Writing—22.

The minimum total band score of 6.5 is required for admission to Metropolitan College, along with scores of 6.5 in each section: listening, reading, writing, and speaking.

* Please check with your chosen school for the exact entry requirements for your programme.

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