Actuarial Science (100% online)
Offered at IU East by School of Natural Science and Mathematics
About
This is an online program.
The IU Online Collaborative Master of Science in Actuarial Science, offered as a consortial program with IU Indianapolis, IU Northwest, and IU South Bend, is a rigorous program of study that combines advanced mathematical and technological knowledge with critical thinking and problem-solving skills.
Graduates will be qualified to work in the insurance industry and other businesses involved in risk analysis, risk management, and statistical modeling.
This degree provides students with the skills needed to pass the advanced professional actuarial examinations and be well-prepared for lucrative mid-career positions in the insurance and/or financial industry.
The program is designed to prepare you for the Society of Actuaries (SOA) exams SRM (Statistics for Risk Modeling), FAM (Fundamentals of Actuarial Mathematics), and one of ALTAM (Advanced Long Term Actuarial Models) or ASTAM (Advanced Short Term Actuarial Models).
As a student in this degree program, you take courses that prepare you to:
- PLO #1: Identify the assumptions of mean-variance portfolio theory and its principal results.
- PLO #2: Apply appropriate methods for the evaluation of asset portfolios to calculate the required return on a particular asset.
- PLO #3: Explain various forms of efficient markets and why market participants may make irrational systematic errors, leading to market inefficiencies.
- PLO #4: Measure investment risk and conduct project analysis using advanced techniques used in capital budgeting.
- PLO #5: Describe the various types of insurance and how to calculate present values and premiums.
- PLO #6: Apply key concepts concerning parametric and non-parametric (tabular) and multi-state models including single life, or multiple life, and multiple decrements.
- PLO #7: Perform calculations on the present value random variables associated with benefits and expenses for any of the models in PLO #2.
- PLO #8: Apply appropriate premium-calculation methodologies.
- PLO #9: Calculate and interpret various statistical measures associated with reserves for insurances and annuities.
- PLO #10: Apply appropriate models to pension plans and retirement benefits.