Brigham Young University – Actuarial Science

Brigham Young University is a religiously-affiliated, private university which is located in Provo, Utah. The university was founded in 1875 and the campus spreads over 560 acres. Brigham Young University is frequently ranked by U.S. News & World Report as being an incredibly affordable school. With tuition for LDS (The Church of Jesus Christ of Latter-day Saints) students at just $5,790 and only $11,580 for non-LDS students for the entire 2013 – 2014 academic year, it is clear why. More than 34,000 students attend Brigham Young University currently.

UNDERGRADUATE PROGRAMS

The Statistics Department at Brigham Young University offers a B.S. in Actuarial Science. A minor in actuarial science is also available. There are no graduate or doctoral degrees offered by the department in actuarial science.

Undergraduate Major in Actuarial Science

This degree program requires a minimum of 58 credit hours in the major. Before actually declaring an actuarial science major, students must pass Exam P given by the Society of Actuaries administered jointly with the Casualty Actuarial Society. No more than 3 credit hours with a grade of below C- is allowed in courses for the major.

Required preparation core courses include calculus 1 and 2. Required statistics core courses include the following: SAS certification 1, SAS certification 2, statistical computing 1, analysis of variance, discrete probability, communication of statistical result, introduction to regression, and inference.

The following core courses must also be completed: economic principles and problems; elementary linear algebra; calculus of several variables; statistical theory for actuaries; theory of interest; and life contingencies.

An additional 12 credit hours are required to be chosen from an approved list of courses. In addition, recommended courses in order to fulfill the Business and Economics VEEs for the Society of Actuaries include: principles of accounting, intermediate price theory 1, and intermediate macroeconomics.

Undergraduate Minor in Actuarial Science

The minor in actuarial science consists of a minimum of 15 – 16 credit hours. Prerequisites for the minor include the following courses: calculus 1, calculus 2, elementary linear algebra, and calculus of several variables.

The following courses are required: statistical theory for actuaries, theory of interest, and life contingencies. In addition, students are to complete the two courses listed as required for one of the following three categories: applied statistics VEE, business VEE, or economics VEE.

THE FACULTY

The Chair of the Statistics Department at Brigham Young University is Scott D Grimshaw. Faculty members of the Statistics Department help equip students with decision-making skills they can use in careers as professional statisticians in government agencies, industrial organizations, pharmaceutical companies, insurance companies, research institutes, and universities.

ADMISSIONS

Applying to Brigham Young University is a fairly extensive process. A $35 non-refundable application fee is required as well as a seven part application including:

• Student Information
• Ecclesiastical Endorsement
• School Selection/Scholarships
• High School Information with Official Transcripts
• Seminary/Institute Evaluation
• Student Essay/Other Information
• Extracurricular Activities

Potential students’ ecclesiastical endorsement is what is first evaluated, followed by academic record as it pertain to GPA and SAT or ACT scores.

SUMMARY

Brigham Young University is large for a private university as far as student population is concerned. It makes an excellent choice for both LDS students and non-LDS students since it has extremely low tuition rates combined with quality education.

The Statistics Department at Brigham Young University offers both an undergraduate degree and an undergraduate minor in actuarial science. The program is interesting as it requires students to pass one of the first four professional actuarial examinations before declaring the major.