Bachelor of Science in Actuarial Sciences

Total Credits
94

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Mission

The mission of the Bachelor of Actuarial Sciences program is to:

Produce graduates who can contribute significantly to the financial security of individuals and corporations through proper training on how to identify, quantify, assess, and manage risk.
Provide students with a curriculum aligned in content and rigor with the learning outcomes of the Society of Actuaries. Such program prepares our graduates to successfully write at least three of the preliminary exams of the SOA, leading toward professional designations from international actuarial societies.
Provide students with the theoretical background needed to qualify them to pursue graduate-level education in Actuarial Science or related fields.

Program Educational Objectives

Graduates of the Bachelor's Degree in Actuarial Sciences will be well-prepared to:

1.Establish a professional career as a leader actuary or member of teams who provides prudent decisions for advanced business, financial, and actuarial problems.
2.Have in depth knowledge of fundamental principles of the theories and techniques of scientific and Actuarial Sciences methodologies to describe, evaluate and analyse actuarial, financial, and statistics problems.
3.Have interpersonal skills needed for productive teamwork and effective communication in the actuarial practices.
4.Earn a graduate degree in Actuarial Sciences or a related field, and receive professional certification by sitting for some of the professional actuarial exams of international actuarial societies.
5.Identify, evaluate, and address legal and ethical conducts promulgated by the Actuarial profession and international actuarial societies.

Program Learning Outcomes

1.An ability to apply techniques of mathematics, probability, and statistics to identify, formulate, and solve problems relevant to actuarial practices.
2.An ability to formulate, implement, and test an actuarial model using sound scientific methodology subject to economical, accounting, regulatory, and financial constraints.
3.An ability to describe an actuarial, financial, or statistical problem, gather relevant data, evaluate its reliability, analyze it, and draw conclusions.
4.An ability to effectively write and orally communicate a technical report and give efficient presentations to a specialized or general audience.
5.An ability to understand the ethical and professional aspects of the actuarial profession, as well as the impact of professional and scientific development on social welfare.
6.An ability to function effectively on teams, and establish goals, plan tasks, meet deadlines, and analyze risk and uncertainty.

Students enrolled in the BS degree program will be well-prepared to undergo a series of actuarial science examinations, leading to the ASA and ACAS designations conferred by the American Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS). Additionally, they will benefit from Validation by Educational Experience (VEE) credits approved for courses in "Economics," "Mathematical Statistics," and "Accounting Finance," which are required for attaining the abovementioned designations.

Admission Requirements

All first-year applicants must complete the Admission Requirements.

Graduation Requirements

To receive the degree of BS in Actuarial Sciences, students must fulfill all requirements of the degree program, complete all required courses, accumulate a total of 94 credits with an overall GPA of at least 2.0/4.0 and a minimum GPA of 2.0/4.0 in both the core and major requirements, and clear all accounts with the University. Candidates for degrees are reminded that grades of “I” assigned during the last semester to courses required for graduation will result in delaying their graduation.

Courses

Liberal Arts Curriculum (27cr.)

English and Arabic Communication (9cr.)

English Communication (6cr.)

Arabic Communication (3cr.)

Religion (3cr.)

Ethics (3cr.)

3 CSC 203 Information Age & Ethics

Cultural Studies and Social Science (6cr.)

Cultural Studies (3cr.)

Social Science (3cr.)

Citizenship (3cr.)

Applied and Life Sciences (3cr.)

Life and Natural Sciences (3cr.)

Core Requirements (27cr.)

Major Requirements (32cr.)

Technical Electives (6cr.)

Free Electives (2cr.)

Suggested Program

Fall Semester Year I (15cr.)

ACO	201	Principles of Accounting I	3 cr.
MAT	206	Financial Mathematics	3 cr.
MAT	213	Calculus III	3 cr.
MAT	215	Linear Algebra I	3 cr.
		Liberal Arts Curriculum (LAC)	3 cr.

Spring Semester Year I (15cr.)

ACS	375	Modelling Techniques in Actuarial Practice	3 cr.
MAT	224	Calculus IV	3 cr.
CSC	210	Fundamentals of Computer Programming with Python	3 cr.
MAT	325	Elements of Probability	3 cr.
		Liberal Arts Curriculum (LAC)	3 cr.

Fall Semester Year II (16cr.)

ACS	300	Actuarial Problem Solving	1 cr.
ACS	314	Actuarial Mathematics I	3 cr.
ECN	211	Principles of Microeconomics	3 cr.
MAT	235	Ordinary Differential Equations	3 cr.
STA	315	Mathematical Statistics	3 cr.
		Liberal Arts Curriculum (LAC)	3 cr.

Spring Semester Year II (18cr.)

ACS	310	General Insurance	3 cr.
ACS	324	Actuarial Mathematics II	3 cr.
ECN	212	Principles of Macroeconomics	3 cr.
STA	312	Statistics Modeling	3 cr.
		Liberal Arts Curriculum (LAC)	3 cr.
		Technical Elective I	3 cr.

Fall Semester Year III (15cr.)

STA	370	Stochastic Processes	3 cr.
ACS	450	Actuarial and Data Sciences	3 cr.
		Liberal Arts Curriculum (LAC)	3 cr.
		Liberal Arts Curriculum (LAC)	3 cr.
		Technical Elective II	3 cr.

Spring Semester Year III (15cr.)

ACS	424	Actuarial Modeling	3 cr.
ACS	480	Actuarial Internship	1 cr.
		Free Elective	2 cr.
		Liberal Arts Curriculum (LAC)	3 cr.
		Liberal Arts Curriculum (LAC)	3 cr.
		Liberal Arts Curriculum (LAC)	3 cr.