B.A. in Women & Gender Studies
Queens College offers a wide array of undergraduate and graduate programs across variou...
B.B.A. in Actuarial Studies
New York City, New York
INTAKE: Jan & Aug
Program Overview
The B.B.A. in Actuarial Studies at Queens College aims to equip students with the strong mathematical, statistical, and business knowledge necessary to assess and manage financial risks. The program is specifically structured to align with the Validation by Educational Experience (VEE) requirements set by actuarial professional bodies like the Society of Actuaries (SOA), thereby streamlining the path for students to pass their preliminary actuarial exams. Beyond technical proficiency, the program emphasizes critical thinking, problem-solving, and communication skills, vital for navigating the complexities of the actuarial profession.
Curriculum: The curriculum is rigorous and interdisciplinary, drawing from mathematics, statistics, economics, and business. Core courses typically include a robust sequence in calculus ("Calculus I, II, III"), probability and mathematical statistics ("Introduction to Probability & Mathematical Statistics," "Methods of Mathematical Statistics"), and financial mathematics ("Mathematics of Finance"). Alongside these quantitative foundations, students delve into business fundamentals through courses like "Introduction to the Theory and Practice of Accounting I & II," "Introduction to Macroeconomics," "Introduction to Microeconomics," "Corporate Finance," "Business Law," and "Business Ethics." The program often includes electives specifically designed to cover material for actuarial examinations, ensuring students are well-prepared for professional certification.
Research Focus: While the B.B.A. in Actuarial Studies is an undergraduate program, its research focus is inherently practical and geared towards industry application. The faculty, many with significant professional experience, integrate current industry trends and real-world challenges into their teaching. The emphasis is on equipping students with advanced quantitative methods to analyze risk in various contexts, from insurance product development to pension fund management and financial modeling. The department ensures the curriculum stays current with the evolving demands of the actuarial profession, incorporating tools and techniques relevant to modern risk assessment and data analysis.
Industry Engagement: Queens College benefits immensely from its location, fostering strong ties with the actuarial and financial industries in New York City. The college actively encourages and facilitates internships at leading insurance companies, consulting firms, and financial institutions, providing students with invaluable hands-on experience and networking opportunities. The School of Business at Queens College offers career services, including a Career Design Lab and professional advising, to help students connect with potential employers. Furthermore, student organizations such as ALPFA (Association of Latino Professionals in Finance and Accounting) and Ascend (Pan-Asian Leaders in Finance and Accounting), alongside the Economics and Business Club, provide platforms for students to attend workshops, engage with industry professionals, and participate in career fairs.
Global Perspective: The B.B.A. in Actuarial Studies inherently carries a global perspective, as risk assessment and financial markets operate on an international scale. The curriculum prepares students to understand and apply actuarial principles that are globally recognized. Queens College's incredibly diverse student body, representing numerous nationalities and cultures, also enriches the learning environment by providing a broad range of perspectives on global economic and business challenges. The institution's location in New York City, a nexus of international business and finance, naturally exposes students to global trends and opportunities within the actuarial field. Additionally, programs like the Global Student Success Program (GSSP) assist international students in transitioning to the U.S. academic and professional environment, further promoting a global outlook within the college community.
Location
New York City, New York
Score
IELTS 6
Tuition Fee
USD 19207
Undergraduate Entry Requirements
Academic Qualifications: Applicants for undergraduate programs typically require a minimum academic achievement of 60% or above in their previous academic qualifications.
English Language Proficiency:
- IELTS: Overall band score of 6.0 or 6.5 with a minimum of 6.0 in each component.
- TOEFL: Overall score of 61 or higher.
- PTE: Overall score of 44 or higher.
- DET (Duolingo English Test): Minimum score of 100.
Queens College, United States of America, is supporting international students through various scholarship opportunities designed to recognize academic excellence, leadership, and community involvement.
Merit-Based Scholarships: Queens College offers a range of merit-based scholarships specifically available to international students. These awards are typically granted based on academic achievement, standardized test scores, and overall potential. Some scholarships are automatically considered during the admissions process, while others may require separate applications.
Queens College Foundation Scholarships: The Queens College Foundation administers several scholarships funded by alumni and donors. These scholarships reward outstanding academic performance and community service. International students are encouraged to explore these opportunities and apply early to maximize their chances of receiving aid.
Departmental Scholarships: Many academic departments at Queens College provide scholarships for students excelling in their respective fields. International students can inquire within their chosen department about specialized awards, grants, and assistantships that may be available during their studies.
External Scholarships: Queens College encourages international students to seek external scholarships offered by governments, private organizations, and international education foundations.
Queens College, a distinguished institution within the City University of New York (CUNY) system, offers a Bachelor of Business Administration (B.B.A.) in Actuarial Studies that rigorously prepares students for a specialized and highly sought-after career path.
Actuarial Analyst (Life/Health Insurance): This is a primary entry point for actuarial graduates. In life and health insurance, actuaries assess risks associated with mortality, morbidity, and longevity to design and price insurance products, calculate reserves, and ensure the long-term solvency of insurance companies.
Actuarial Analyst (Property & Casualty Insurance): Actuaries in this sector deal with risks related to events like car accidents, natural disasters, and property damage. They use statistical models to forecast claims, set premium rates, and analyze trends in general insurance lines.
Pension Actuary/Consultant: These actuaries specialize in pension and retirement plans. They design, evaluate, and manage defined benefit and defined contribution plans, calculate funding requirements, and ensure compliance with complex government regulations (like ERISA in the U.S.). Many work for consulting firms advising multiple clients.
Risk Management Analyst: Beyond traditional insurance, actuarial graduates are highly valued in broader risk management roles within financial institutions, corporations, and even government. They identify, measure, and mitigate various financial and operational risks, developing strategies to protect an organization's assets and profitability.
Reinsurance Actuary: Reinsurance companies insure other insurance companies. Actuaries in this field assess and manage the complex risks transferred between insurers and reinsurers, developing pricing models and evaluating reinsurance contracts.
Employee Benefits Consultant: Actuaries often work for consulting firms, advising companies on their employee benefits programs, including health insurance, retirement plans, and other compensation packages. They analyze costs, design plans, and ensure competitive and compliant offerings.
Financial Modeler: With their strong quantitative and analytical skills, actuarial graduates are well-suited for roles in financial modeling. They build sophisticated models to forecast financial outcomes, assess the impact of different scenarios, and support strategic decision-making in investment banking, corporate finance, and asset management.
Pricing Actuary: This role focuses specifically on the development and pricing of new financial products, particularly within insurance. Pricing actuaries analyze data to determine appropriate premiums, ensuring profitability while maintaining competitiveness in the market.
Data Scientist/Analyst: The rigorous statistical and data analysis training in an actuarial program makes graduates excellent candidates for data science and analytics roles. They can extract insights from large datasets, build predictive models, and inform business strategies across various industries.
Government Actuary: Government agencies at federal, state, and local levels employ actuaries to manage public sector benefit programs (e.g., social security, Medicare/Medicaid), assess financial implications of policy changes, and conduct regulatory oversight of insurance companies.
