UWM undergraduate students can major in actuarial science in the College of Letters & Science. Students are exposed to multi-disciplinary coursework in mathematics, statistics, economics, business, and computer programming. By taking full advantage of coursework, advising, and professional development opportunities, students can grow into attractive job candidates.
Course of Study – Bachelor of Arts Degree
Complete 120 credits including 75 credits in the College of Letters & Science and with 36 of the 75 credits in L&S upper-level (numbered above 300) courses.
The College requires that students must complete in residence at UWM at least 15 credits in upper-division (numbered 300 or above) courses in their major. The College also requires that students complete at least 30 credits overall in residence at UWM. For additional residency and transfer credit limitations, see L&S Undergraduate Policies and Regulations.
Students are also required to complete University-wide General Education Requirements and the specific L&S requirements listed below.
To complete a major, students must satisfy all the requirements of the major as stated in this catalog. Students who declare their majors within five years of entering the UW System as a degree candidate may satisfy the requirements outlined in any catalog issued since the time they entered. Credits used to satisfy the major also may be used to satisfy other degree requirements.
University General Education Requirements (GER)
| Code | Title | Credits |
|---|---|---|
| Oral and Written Communication | ||
| Part A | ||
| Achieve a grade of C or better in the following course: | ||
| ENGLISH 102 | College Writing and Research (or equivalent) | |
| Part B | ||
| Course designated as OWC-B; may be completed through a major-specific course requirement | ||
| Quantitative Literacy | ||
| Part A | ||
| Earn at least 3 credits with a grade of C or higher in one of the following courses or an equivalent course, or achieve a placement code of at least 30 on the mathematics placement test (or other appropriate test, as determined by the Mathematical Sciences Department) | ||
| Mathematical Literacy for College Students II | ||
| Contemporary Applications of Mathematics | ||
| Introduction to College Algebra | ||
| Algebraic Literacy II | ||
| Introduction to Logic - Critical Reasoning 1 | ||
or PHILOS 111 | Introduction to Logic - Critical Reasoning | |
| College Algebra | ||
Or equivalent course | ||
| Part B | ||
| Course designated as QL-B; may be completed through a major-specific course requirement | ||
| Arts | ||
| Select 3 credits | 3 | |
| Humanities | ||
| Select 6 credits | 6 | |
| Social Sciences | ||
| Select 6 credits | 6 | |
| Natural Sciences | ||
| Select 6 credits (at least two courses including one lab) | 6 | |
| UWM Foreign Language Requirement | ||
| Complete Foreign Language Requirement through: | ||
Two years (high school) of a single foreign language | ||
Two semesters (college) of a single foreign language | ||
Or equivalent | ||
| UWM Cultural Diversity Requirement | ||
| One course from the Arts, Humanities, or Social Sciences must also satisfy UWM's Cultural Diversity requirement | ||
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Math 111 and Philosophy 111 are jointly offered and count as repeats of one another. Students cannot receive credit for both courses.
College of Letters & Science Requirements
The degree requirements in the College of Letters and Science build on the University General Education Requirements to provide a broad base of knowledge as well as an array of skills cited by employers as critical to professional success: critical thinking, problem solving, oral and written communication, ability to work well with others, and adaptability to change.
For the Bachelor of Arts (B.A.), you must complete the UWM General Education Requirements as well as these L&S requirements: the International requirement, the Breadth requirement, and the Research requirement. The International requirement develops your potential for cross-cultural understanding in a globalizing world. The Breadth requirement ensures that you take classes in a wide variety of subjects, across humanities, natural sciences, and social sciences. The Research requirement calls for you to build your critical thinking and oral and written communication skills through conducting an independent research project, usually in your major.
For the Bachelor of Arts (B.A.) you will also complete the Language other than English requirement, to further develop your understanding of cultures through language.
I. Total Credits and Upper-Division Courses Requirement
Students must complete 120 credits including 75 credits in the College of Letters & Science and with 36 of the 75 credits in L&S upper-level (numbered above 300) courses.
II. Language other than English Requirement
Students doing the BA must fulfill the language other than English requirement by either successfully completing the fourth semester of university work or equivalent in one language other than English, or by successfully completing the second semester of university work or equivalent in two languages other than English (including all world languages and American Sign Language).
Language courses (including American Sign Language) other than English taken in high school may be used to satisfy all or part of this requirement. One year of high school language equates to one semester of college work. Proficiency tests approved by the Languages faculty may be used to satisfy all or part of this requirement.
Completion of the L&S Language Requirement also satisfies the university-wide Language other than English GER, but not vice versa.
III. International Requirement
To meet the International Requirement, students must successfully complete some three course (minimum 9 credits) combination of
- language other than English (not including American Sign Language) at 3rd semester level or above, and/or
- non-language courses with L&S approved international content (see Courses Approved for the L&S International Requirement for course options).
IV. Breadth Requirement
In addition to completing the University General Education Requirements, L&S students must complete the Breadth requirement.
The L&S Breadth requirement calls for 6 credits each in L&S courses designated L&S Humanities, L&S Natural Sciences, and L&S Social Sciences breadth. One of the L&S Natural Science breadth courses must be a laboratory or fieldwork course. These courses must be beyond and in addition to courses in those areas used to satisfy General Education Requirements.
Please refer to the list of Courses Approved for the L&S Breadth Requirement.
V. The Major
The College of Letters and Science requires that students attain at least a 2.0 GPA in all credits in the major attempted at UWM. In addition, students must attain a 2.0 GPA on all major credits attempted, including any transfer work. Individual departments or programs may require higher GPAs for graduation. Some departmental majors require courses from other departments. Contact your major department for information on whether those credits will count as part of the major GPA. The College requires that students must complete in residence at UWM at least 15 credits in upper-division (numbered 300 or above) courses in their major.
Research Requirement
Within their majors, students must complete a research experience approved by the L&S faculty. A list of courses satisfying the research requirement in each major can be found here.
VI. The Minor
Students are encouraged to consider completing a minor, but it is not required. To complete a minor, the College of Letters and Science requires that students attain at least a 2.0 GPA in all credits in the minor attempted at UWM. In addition, students must attain a 2.0 GPA on all minor credits attempted, including any transfer work. The minor must contain at least 9 credits in upper-division (numbered 300 and above) courses.
Actuarial Science Major Requirements
Students who intend to complete the BA in Actuarial Science program in four years will need to begin taking mathematics in their first semester. Such students should have a University of Wisconsin-Milwaukee mathematics placement level of 30 (ready for precalculus) or better.
Preparatory Curriculum
Students must complete one of Calculus Sequences: MATH 211 and MATH 212, or MATH 231 (or MATH 213), MATH 232, and MATH 233 (or equivalent). MATH 221 and MATH 222 are equivalent to MATH 231, MATH 232, and MATH 233. Students majoring in actuarial science must have an average GPA of at least 2.500 in these courses. Additional preparatory curricula are required, as listed below.
Capstone Experience
Students must complete a Capstone Experience. The aim of the capstone experience is to encourage independent learning. Students complete a research paper in the context of this course, which satisfies the L&S research requirement. For Actuarial Science majors, the capstone is ACTSCI 599. Students must obtain consent of the instructor to enroll in ACTSCI 599.
Requirements
Students must complete the courses listed below, including at least 15 upper-division (numbered 300 and above) credits in the major in residence at UWM. The College of Letters & Science requires that students attain at least a 2.0 GPA on all credits in the major attempted at UWM. In addition, students must attain a 2.0 GPA on all major credits attempted, including any transfer work.
| Code | Title | Credits |
|---|---|---|
| Preparatory Curriculum | ||
| Preparatory Calculus sequence 1 | 8-12 | |
Majors must achieve a GPA of at least 2.500 in the Calculus sequence to complete the degree. | ||
| Survey in Calculus and Analytic Geometry I and Survey in Calculus and Analytic Geometry II | ||
| Calculus and Analytic Geometry I and Calculus and Analytic Geometry II and Calculus and Analytic Geometry III 2 | ||
| Additional preparatory coursework | ||
| ACTSCI 290 | Introduction to Actuarial Science | 3 |
| MATH 234 | Linear Algebra and Differential Equations | 3-4 |
| or MATH 240 | Matrices and Applications | |
| COMPSCI 250 | Introductory Computer Programming | 3 |
| COMPSCI 251 | Intermediate Computer Programming | 3 |
| BUS ADM 201 | Introduction to Financial Accounting | 4 |
| ECON 103 | Principles of Microeconomics | 3 |
| ECON 104 | Principles of Macroeconomics | 3 |
| Core Curriculum | ||
| ACTSCI 391 | Investment Mathematics I | 4 |
| MTHSTAT 361 | Introduction to Mathematical Statistics I | 3 |
| MTHSTAT 362 | Introduction to Mathematical Statistics II | 3 |
| BUS ADM 350 | Principles of Finance | 3 |
| or BUS ADM 450 | Intermediate Finance | |
| ACTSCI 490 | Introduction to Actuarial Practice | 1 |
| ACTSCI 491 | Actuarial Workshop FM | 1 |
| ACTSCI 492 | Actuarial Workshop P | 1 |
| ACTSCI 599 | Capstone Experience | 1 |
| ACTSCI 593 | Actuarial Models I | 3 |
| ACTSCI 596 | Actuarial Statistics I | 3 |
| ACTSCI 594 | Actuarial Models II | 3 |
| or ACTSCI 597 | Actuarial Statistics II | |
| MTHSTAT 563 | Regression Analysis | 3 |
| MTHSTAT 564 | Time Series Analysis | 3 |
| MTHSTAT 568 | Multivariate Statistical Analysis | 3 |
| Select one of the following three courses: | 3 | |
| Investment Mathematics II | ||
| Introduction to Probability Models | ||
| Computational Statistics | ||
| Total Credits | 68-73 | |
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Majors must complete one of the following sequences or its equivalent; for example, one equivalent sequence is MATH 221 & MATH 222. For approval see the Actuarial Science advisor.
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Recommended Electives
To achieve the best preparation for an actuarial career, students actively should pursue internship opportunities with insurance companies, consulting firms, and other organizations that require actuarial science knowledge. Once such an opportunity is secured, the student should enroll in ACTSCI 590. Students also should take courses in business communication (COMMUN 105, ENGLISH 205), computer science (COMPSCI 351, COMPSCI 557), and expand their knowledge in economics (ECON 325, ECON 450).
Professional Development
For future advancement in the field of actuarial science, “Validation by Educational Experience” (VEE) credits are required. VEE credits may be earned from the Society of Actuaries (SOA) and Casualty Actuarial Society (CAS) with a grade of B- or better in the following courses:
| Code | Title | Credits |
|---|---|---|
| MTHSTAT 362 | Introduction to Mathematical Statistics II (VEE-Mathematical Statistics) | 3 |
| ECON 103 | Principles of Microeconomics (VEE-Economics) | 3 |
| ECON 104 | Principles of Macroeconomics (VEE-Economics) | 3 |
| BUS ADM 201 | Introduction to Financial Accounting (VEE-Accounting and Finance) | 4 |
| BUS ADM 450 | Intermediate Finance (VEE-Accounting and Finance) | 3 |
Courses taken at other universities may be used to meet the VEE requirement of the SOA/CAS.
Actuarial Science BA Learning Outcomes
Students graduating from this program will be able to:
- integrate applications, problem-solving and theory.
- apply the analytical and critical thinking skills required for efficient use, appreciation, and understanding of the mathematical sciences.
- communicate mathematical sciences in technical and non-technical terms.
- engage in continuing study and application of the mathematical sciences.
- associate and synthesize knowledge from different areas of the mathematical sciences.
Students considering a major in Actuarial Science need to come to the department to declare their major and be assigned a faculty advisor. All courses selected for the major must be approved by the advisor, and since required courses are not offered every semester or year, students should check regularly with their advisors to plan their courses of study in order to finish in a coherent and timely fashion.
Letters & Science Advising
During your time at UWM, you may have multiple members of your success team, including advisors, peer mentors and success coaches. Letters & Science students typically work with at least two different types of advisors as they pursue their degrees: professional college advisors and faculty advisors. L&S college advisors advise across your entire degree program while departmental faculty advisors focus on the major.
College advisors are located in Holton Hall (or virtually for online students) and serve as your primary advisor. They are your point person for your questions about navigating college and completing your degree. College advisors will:
- Assist you in defining your academic and life goals.
- Help you create an educational plan that is consistent with those goals.
- Assist you in understanding curriculum, major and degree requirements for graduation, as well as university policies and procedures.
- Provide you with information about campus and community resources and refer you to those resources as appropriate.
- Monitor your progress toward graduation and completion of requirements.
Faculty advisors mentor students in the major and assist them in maximizing their development in the program. You will begin working with a faculty advisor when you declare your major. Faculty advisors are an important partner and will:
- Help you understand major requirements and course offerings in the department.
- Explain opportunities for internships and undergraduate research and guide you in obtaining those experiences.
- Serve as an excellent resource as you consider potential graduate programs and career paths in your field.
Students are encouraged to meet with both their college advisor and faculty advisor at least once each semester. Appointments are available in-person, by phone or by video.
Currently enrolled students should use the Navigate360 website to make an appointment with your assigned advisor or call (414) 229-4654 if you do not currently have an assigned Letters & Science advisor. Prospective students who haven't enrolled in classes yet should call (414) 229-7711 or email let-sci@uwm.edu.
Honors in the Major
Students in Actuarial Science who meet all of the following criteria can be awarded honors in the major upon graduation:
- A 3.000 cumulative GPA in all UWM graded credits;
- A 3.500 GPA over all UWM courses counting toward the Actuarial Science major;
- A 3.500 GPA over all upper-division UWM courses counting toward the Actuarial Science major; and
- The passing of at least three professional actuarial exams.
Students who believe they may qualify for honors in Actuarial Science should apply to the Mathematical Sciences Department during their last semester of study.
College of Letters and Science Dean's Honor List
GPA of 3.750 or above, earned on a full-time student's GPA on 12 or more graded credits in a given semester.
Honors College Degree and Honors College Degree with Distinction
Granted to graduating seniors who complete Honors College requirements, as listed in the Honors College section of this site.
Commencement Honors
Students with a cumulative GPA of 3.500 or above, based on a minimum of 40 graded UWM credits earned prior to the final semester, will receive all-university commencement honors and be awarded the traditional gold cord at the December or May Honors Convocation. Please note that for honors calculation, the GPA is not rounded and is truncated at the third decimal (e.g., 3.499).
Final Honors
Earned on a minimum of 60 graded UWM credits: Cum Laude - 3.500 or above; Magna Cum Laude - 3.650 or above; Summa Cum Laude - 3.800 or above.