The major is highly interdisciplinary in content, requiring courses in general mathematics, statistics, actuarial mathematics, business, economics and finance. The two major professional actuarial societies, the Society of Actuaries, and the Casualty Actuarial Society, sponsor the actuarial exams. The societies jointly administer the first four exams under the new system beginning in the year 2000. The course 1 exam covers calculus, probability and introductory concepts in risk and insurance. The course 2 exam covers economics, finance, investments and the theory of interest.
Subsequent exams cover advanced actuarial mathematics, probability and statistics.
The Maryville University program prepares students for all of the material on the course 1 and course 2 exams by the end of the junior year. In addition, senior year courses cover a substantial portion of the course 3 and course 4 exams. Actuarial Science as a Career Actuaries are individuals who apply mathematical techniques to solve problems in insurance, finance and other related fields. They come into contact with every aspect of the insurance industry and must possess strong mathematical skills and solid practical and theoretical business backgrounds to apply their technical knowledge. They are responsible for determining rates and premiums on insurance policies and forecasting future events affecting the soundness of insurance programs.