Actuarial Science Graduate Certificate Programs
Actuarial Science is an applied science used in financial services to calculate risk. These skills are most useful in insurance, but have investment uses as well. It applies mathematics (statistics, mostly) to understand the relative risk of any investment, including retail banking.
As it is a niche skill, students considering a career in financial risk assessment should pursue an online Actuarial Science Graduate Certificate. It is a great qualification for learning specialty skills in finance and taking statistics and math knowledge to advanced levels.
Colleges and universities offering Actuarial Science Graduate Certificates will request qualifying attributes for prospective students. These will vary by school, but tend to include:
- A minimum GPA of 3.0. Some may go higher – 3.25 or up to 3.5
- A master's degree in a relevant subject such as mathematics or statistics
- Official transcripts from all colleges attended, plus evidence of accreditation
- Applicants from non-native English-speaking countries must provide proof of proficiency. Acceptable certification standards are PTEA, TOEFL, and IELTS. The college may also accept ELS 112 but not all recognize this
- Letters of recommendation: typically two, although some may request three. Academic references are preferred; some may be happy with work references where there is extensive experience
- The application fee (non-refundable)
- An essay or personal statement explaining why you wish to study this subject at this institution
Students can often complete their actuarial science grad cert in just a few semesters. Actuarial science graduate certificate programs have several mandatory courses and some optional choices that students may use to tailor to their strengths and interests. These may include:
- Applied Probability
- Probability Theory
- Actuarial Mathematics
- Applied Mathematical Statistics
- Statistical Theory
- Time Series Analysis
- Introduction to Economics
- Elementary Econometrics
- Financial Mathematics
- Statistics for Risk Modelling
- Investment & Financial Markets
- Economic Forecasting
- Mathematical Theory of Interest
- Actuarial Mathematics for Life Contingencies
- Advanced Microeconomic Theory
- Advanced Macroeconomic Theory
- Data Mining Techniques
Due to the nature of this qualification, you may be asked to pass exams as part of the grade.
Those with a passion and skill for finance and mathematics can find several doors open to them with an online actuarial science graduate certificate. Career options often include:
- Actuary: This is a broad job with applications in investment banking, retail banking, insurance, corporate financing, pensions, and insurance & life assurance.
- Actuarial Consultant: Help financial service investors plan their investments and calculate risks. This is an independent role. Use statistics and theory to work out possible outcomes of investment.
- Insurance Actuarial Analyst: This is the major destination for most graduates. It calculates risk for premium costs and involves financial planning for the insurance providers.
- Insurance Underwriter: These professionals investigate insurance policy applications to determine whether the provider should accept an application.
- Investment Analyst: While most look at the risk of certain investments or policies, an investment analyst works for a business or as an independent to examine and advise about investments.
- Economist: Work for state or Federal government, or in individual communities advising on the state of an economy. Economists do not necessarily offer investment advice.
|California State University-San Bernardino||San Bernardino, CA||Introductory Actuarial Science|
|University of Colorado Boulder||Boulder, CO||Actuarial Studies and Quantitative Finance|
|Florida Atlantic University||Boca Raton, FL||Actuarial Science|
|Florida International University||Miami, FL||Actuarial Studies|
|University of Georgia||Athens, GA||Actuarial Science|
|Central Michigan University||Mount Pleasant, MI||Actuarial Science|
|St. Cloud State University||Saint Cloud, MN||Actuarial Science|
|Temple University||Philadelphia, PA||Hybrid - Actuarial Science|
|University of Pennsylvania||Philadelphia, PA||Actuarial Science|
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