Actuarial Science Iowa State University

Iowa State University is a fairly large public university which is located in Ames, Iowa, roughly 30 minutes from Des Moines. Iowa State University was first founded in 1858 on a farm of just 648 acres. The first official students began classes in 1869. The university ranks in the top 50 public universities in the nation by U.S. News & World Report.

More than 33,000 students currently attend Iowa State University. For an Iowa resident, tuition was $8,042 for the 2020 – 2021 academic year. For a non-resident, tuition was $23,230 for the 2020 – 2021 academic year.

UNDERGRADUATE PROGRAMS

The Department of Finance in the Ivy College of Business, offers a major in actuarial science which can help to prepare a student for becoming an actuary. To become a professional actuary, a series of exams need to be passed. The first four are co-administered by the Casualty Actuarial Society and the Society of Actuaries. In addition, by taking coursework in applied statistics methods, economics, and finance, a student can receive validation by educational experience credit.

Undergraduate Major in Actuarial Science

Coursework at Iowa State University is geared specifically towards the actuarial examinations. However, the following courses may contain information that is on the exams, although will most likely not cover everything: calculus I, II, and III; introduction to the theory and probability of statistics I; principles of finance; corporate finance; investments; financial futures and options; personal risk management and insurance; corporate risk management and insurance; introduction to the theory and probability of statistics II; applied probability models; and statistical computing applications.

The Society of Actuaries recognizes the following courses for meeting the requirements of VEE for economics and applied statistical methods: intermediate statistical concepts and methods; applied time series; microeconomics and macroeconomics or intermediate microeconomics and intermediate macroeconomics; and corporate finance. In order to pass the actuarial examinations, additional independent study is necessary. The Society of Actuaries website provides a set of study notes for the four examinations.

THE FACULTY

The Department of Finance at Iowa State University has more than 30 faculty members. The main mission of these faculty members is to advance knowledge through providing excellent education.

ADMISSIONS

In order to apply to Iowa State University, an applicant should submit an application and self-report his or her academic information such as class rank, GPA, and standardized test scores. An applicant’s final transcript and official test scores are to be submitted when an offer of acceptance has been made.

SUMMARY

Iowa State University is a sizeable university with an excellent reputation for being one of the top 50 public universities in the United States. Tuition prices are fairly low if one is an Iowa resident. The Department of Fiance at Iowa State University does offer an actual actuarial degrees. The department does offer classes that fulfill VEE requirements as well as classes that can help prepare a student to take actuarial professional exams.