Master of Actuarial and Quantitative Risk Management (MAQRM)

MAQRM Recommended Prerequisites:

Applicants to the MAQRM program should present the following preparation and materials in their applications:

​Background in interest theory and actuarial science is not required, though strongly recommended. Incoming MAQRM students are expected to have already passed the FM Exam (Financial Mathematics Exam), an actuarial exam administered by the Society of Actuaries and the Casualty Actuarial Society. If a student does not meet this prerequisite, MATH 3618 can be taken during the first semester of a student’s MAQRM study.

  • MATH 3618 (3 cr. hrs.) Theory of Interest (Required during the first semester in MAQRM if FM Exam not passed)

We strongly recommend proficiency in a computer programming language at the level of one of the following

Required Core Courses (12 credit hours):

​A student will need to pass all required core, required sequences, and elective courses with at least a grade of C- by the end of the Spring Semester of the second year.
*students who start during a Spring Semester are expected to complete these requirements by Autumn of the second year

Mathematics & Statistics

Required AQRM Sequences (12-18 credit hours):

Choose at least two MAQRM sequences from the list below.

Students must choose 2 or 3 of the following year-long course sequences. A student may request to use other courses to satisfy the sequence requirement. The request should be submitted by the student and advisor to the Graduate Studies Committee (GSC) for approval.

Life Contingencies

Loss Models

Stochastic Calculus for Finance

Topics in Risk Management

Numerical Analysis

Elective Courses (3+ credit hours):

Elective courses must be chosen from the list below, along with the Practicum (3 cr. hrs.) and, if applicable, the Thesis Writing Course (3 cr. hrs.) must add up to the total 33 cr. hrs. required for the MAQRM degree. A student may request to use other courses to satisfy the elective requirement. The request, in the form of a petition, should be submitted by the advisor and student to the Graduate Studies Committee (GSC) for approval.

Students opting for the MAQRM Non-Thesis Option must typically complete another 3 cr. hrs. to reach the 33 overall hours required for the degree.

Real Analysis

Differential Equations

Numerical Linear Algebra

Statistics

 

Thesis Option (3 credit hours):

Each student must select a thesis advisor by the end of the Autumn Semester of the second year (or the Spring Semester of the second year if the student started during a Spring Semester) and submit a Change of Advisor form to the Graduate Office. The thesis advisor needs to be a Mathematics Department faculty member of category M level or higher. Typically this will be the MAQRM program director, Dr. John Holmes. Thesis research and writing will occur during the second year, and should be completed by the end of the Spring Break of the second year (or the equivalent timeframe within the alternate semester of graduation). During this time students should generally be signed up for 3 hrs. of MATH 6999 with the supervising Master's Faculty (Thesis) Advisor.

  • MATH 6999 (3 cr. hrs.)  Graduate Thesis Research

 

Thesis Defense & Graduation:

The thesis will be written during the second year under the supervision of the thesis advisor, and prepared in compliance with university rules. The thesis should be completed early during the semester of graduation. All students are expected to apply to graduate with the Master's of Actuarial and Quantitative Risk Management (AQRM-MAQRM) degree via the Thesis-Option before the second Friday of the semester of graduation. In order to apply, a student also has to choose a second member of the examination committee by the beginning of the same semester. This has to be a Graduate Faculty member but may be from another OSU unit related to the specialization. Typically (but not necessarily) this can be the second mentor of the Practicum. The oral examination has to be scheduled and passed after submission of a draft of the thesis. An additional written examination is not required. The thesis needs to follow university formatting guidelines, be approved by the committee, and be submitted to the Graduate School and OhioLink.

For further details see Section VI of the Graduate School Handbook.

The credits earned from required core, required sequences, and elective courses must be at least 27 credit hours. Additionally, MATH 5194 Group Study: Practicum in AQRM counts for 3 additional hours toward the degree and MATH 6999 Thesis Writing counts for 3 more hours toward the degree. Independent studies, group studies, and research credit hours, or hours from unapproved courses not on the lists below, do not count toward the required 33 total hours of coursework.

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