M.S. in Administration
The Master of Science (M.S.) in Administration program at Central Michigan University (...
B.A. in Actuarial Science
Mount Pleasant, Michigan
INTAKE: Jan & Aug
Program Overview
Central Michigan University offers a Bachelor of Arts (B.A.) in Actuarial Science designed to prepare students for a dynamic career in risk management and insurance. This program focuses on equipping students with the analytical and mathematical skills necessary to assess financial risks and uncertainties. Actuarial science professionals use mathematical models and statistical techniques to evaluate the financial impact of risk and make informed decisions. The B.A. in Actuarial Science at CMU provides a strong foundation in these areas, preparing graduates for roles in various industries, including insurance, finance, and consulting.
STEM-Designated: The B.A. in Actuarial Science at Central Michigan University is designated as a STEM (Science, Technology, Engineering, and Mathematics) program. This designation highlights the program's emphasis on quantitative skills, analytical reasoning, and mathematical proficiency. As a STEM-designated program, it attracts students interested in leveraging their skills in mathematics and statistics to solve complex problems related to risk assessment and financial management. The STEM designation also provides international students with extended optional practical training (OPT) opportunities, allowing them to gain valuable work experience in their field of study.
Curriculum: The curriculum for the B.A. in Actuarial Science at CMU is meticulously designed to provide students with a comprehensive education in actuarial principles, mathematical techniques, and statistical analysis. Core courses include Actuarial Mathematics, Probability and Statistics, Financial Mathematics, and Risk Management. Students also engage in coursework on finance, economics, and data analysis to complement their actuarial studies. The program incorporates practical learning experiences through internships and real-world projects, enabling students to apply their knowledge and develop problem-solving skills.
Research Focus: Research within the B.A. in Actuarial Science program at CMU is centered on advancing methodologies and techniques used in risk assessment and financial forecasting. Faculty and students engage in research exploring topics such as predictive modeling, insurance analytics, and financial risk management. The research focus aims to address contemporary challenges in the actuarial field, contributing to the development of innovative solutions and enhancing the effectiveness of risk management practices.
Industry Engagement: Central Michigan University fosters strong industry engagement through partnerships with leading insurance companies, financial institutions, and actuarial firms. The program provides students with opportunities for internships, networking events, and industry workshops. These experiences help students build professional connections and gain practical insights into the actuarial profession. Guest lectures and industry-sponsored projects further enrich the learning experience, bridging the gap between academic theory and industry practice.
Global Perspective: The B.A. in Actuarial Science at CMU incorporates a global perspective by addressing international standards and practices in actuarial science. Students explore how global financial markets, regulations, and risk factors impact actuarial work. The program prepares students to work in a global context, understanding the complexities of international risk management and financial analysis. This global outlook ensures that graduates are equipped to handle actuarial challenges in a diverse and interconnected world.
Location
Mount Pleasant, Michigan
Score
IELTS 6.5
Tuition Fee
USD 20250
Undergraduate Entry Requirements
Application Fee: $55
Academic Qualifications: Applicants for undergraduate programs typically require a minimum academic achievement of 65% or above in their previous academic qualifications.
English Language Proficiency:
- IELTS: Overall band score of 6.5 with a minimum of 6.0 in each component.
- TOEFL: Overall score of 79 or higher.
- PTE: Overall score of 53 or higher.
- DET (Duolingo English Test): Overall score of 100.
Central Michigan University (CMU) offers various scholarships and financial aid opportunities to support international students in their pursuit of higher education. These scholarships are typically awarded based on academic merit, talent, or specific criteria.
Global Ambassador Scholarship: This scholarship is for undergraduate international students with a strong academic record and a promoting cultural exchange. Recipients of this scholarship serve as cultural ambassadors on campus.
International Opportunity Awards: These awards are available to both undergraduate and graduate international students. They are based on academic achievement, leadership potential, and contributions to the CMU community.
Departmental Scholarships: Some academic departments within CMU may offer scholarships specific to their field of study. These scholarships are typically based on academic achievement and may require students to meet certain criteria.
External Scholarships: CMU encourages international students to explore external scholarship opportunities from organizations, foundations, and governments. The university's scholarship office can provide guidance on identifying and applying for these scholarships.
CMU Merit Scholarships: While primarily available to domestic students, CMU does offer merit-based scholarships that may be accessible to high-achieving international students.
It's important to note that scholarship availability, eligibility criteria, and award amounts can change from year to year.
Graduates of Central Michigan University's Bachelor of Arts (B.A.) in Actuarial Science are well-positioned to embark on rewarding careers in risk management, insurance, finance, and related fields. The program provides students with a robust foundation in mathematical and statistical analysis, which is critical for various roles in the actuarial profession.
Actuary: As actuaries, graduates use mathematical models and statistical techniques to evaluate financial risks and uncertainties. They work in sectors such as insurance, pensions, and finance, analyzing data to help organizations make informed decisions about risk management and financial planning.
Risk Analyst: Risk analysts assess and manage potential risks that could impact an organization's financial stability. They analyze data to identify risk factors, develop risk mitigation strategies, and advise on risk management practices to protect against financial losses.
Insurance Underwriter: Insurance underwriters evaluate insurance applications and determine the terms and pricing of policies. They use actuarial data and statistical analysis to assess the risk associated with insuring individuals or businesses and make decisions on policy issuance.
Financial Analyst: Financial analysts provide insights and recommendations on financial investments and business strategies. They analyze financial data, market trends, and economic conditions to guide investment decisions and financial planning for individuals or organizations.
Pension Consultant: Pension consultants specialize in designing and managing retirement plans for organizations. They analyze pension data, assess plan performance, and provide recommendations to ensure that retirement benefits are managed effectively and meet regulatory requirements.
Data Analyst: Data analysts use statistical methods to interpret complex data sets and generate actionable insights. They work in various industries, including finance and insurance, to analyze trends, improve decision-making, and support strategic planning.
Actuarial Consultant: Actuarial consultants provide expert advice on complex actuarial and financial issues. They assist clients with risk assessment, financial planning, and regulatory compliance, using their actuarial expertise to solve specific challenges.
Investment Analyst: Investment analysts research and analyze investment opportunities to help clients or organizations make informed decisions. They evaluate financial statements, market trends, and investment performance to guide investment strategies.
