Actuarial science at Franklin College is an interdisciplinary major consisting of coursework in mathematics, statistics, and business that will help students develop the quantitative skills needed to assess and manage risk, especially in a financial setting.
Actuarial Science Highlights
The actuarial science program at Franklin College is a member of the Society of Actuaries’ UCAP list of Universities and Colleges with Actuarial Programs in recognition of the fact that our program helps students develop the skills and knowledge necessary to become an actuary.
- Not only do actuarial science majors at Franklin College take courses to prepare for two preliminary actuarial exams (Exam 1/P Probability and Exam 2/FM Financial Mathematics), but they also have the opportunity to participate in a weekly problem-solving seminar called P.A.S.S. (Pizza and Actuarial Science Seminar) to improve their chances of success on these exams. Actuarial science majors can even apply for professional development funds from the department of mathematics and computing to help cover the costs of study materials and exam fees!
- Actuarial science students at Franklin College can fulfill all three of the Validation by Educational Experiences (VEE) requirements of the Society of Actuaries (SOA) and Casualty Actuarial Society (CAS) through approved coursework in mathematical statistics, economics, accounting and finance.
- Every actuarial science student at Franklin College also gains real-world experience through an internship with one of our community partners and benefits from the department’s nationally recognized program that integrates a variety of high-impact curricular and co-curricular experiences.
The Franklin College Difference
As a career, actuaries consistently rank near the top of ‘best jobs’ lists because of the career’s high pay, great job security, ability to make a positive impact and the excellent work/life balance it offers. According to the webpage www.BeAnActuary.org, maintained by the SOA and CAS, actuaries should enjoy learning, like to solve complicated problems, and have the following skills:
- Specialized math knowledge, including calculus, statistics, and probability
- Good business sense, including knowledge in finance, accounting, and economics
- Strong computer skills, including the ability to formulate spreadsheets, use statistical analysis programs, manipulate databases, and use programming languages
- Keen analytical, project management, and problem solving skills
- Solid oral and written communication skills
Thanks to Franklin College’s commitment to a strong liberal arts education, actuarial science majors from Franklin College will be strong in all of these areas. Many actuarial science programs prepare their students well for the specific math and business content needed for this field, but the liberal arts curriculum at Franklin College ensures that its graduates also excel in terms of the other “soft skills,” like strong oral and written communication, project management, and the ability to work well in teams, that are essential for success.