The Department of Mathematics offers a Bachelor of Science and a Bachelor of Arts in Actuarial Science. Students have the opportunity to graduate with an honors degree in Actuarial Science through the College of Arts and Science Honors Program.
The program covers core actuarial disciplines through courses in probability and statistics, interest theory, financial economics, life contingencies and loss models. The program also exposes students to real business through a course in actuarial practicum, as well as many professional information sessions and seminars.
The major curriculum is specifically geared towards preparing students to take up to five exams, creating a competitive advantage in a job search. This curriculum has prepared students well, and the actuarial exam passing rate among students continues to improve. In recent years, an average of more than 80 percent of graduating seniors pass at least one exam, and about 75 percent pass two or more exams.
With the creation of a master’s degree in actuarial and quantitative risk management (MAQRM) in 2016, the program has been developing new courses, with some of the beginning graduate courses made available to upper-level undergraduate students. Among these are courses that cover topics in predictive modeling and quantitative risk management. The predictive modeling course covers basic methods from machine learning and the mathematical ideas behind these methods. The risk management course exposes students to real practice in handling risks in the financial market. Both courses help students to see the changing landscape of traditional actuarial practice.
The Ohio State University has an Actuarial Club at Ohio State that meets each semester to hold group study sessions, hear local employers speak about opportunities in their company, and more. Information is emailed out to all students enrolled in the actuarial science major and pre-major. Students seeking more information about the actuarial science major and career are encouraged to contact Professor Ban or Professor Waller.