Actuarial Science
The Bachelor of Science in Actuarial Science equips students with a strong foundation in mathematics, statistics, finance, and risk management. The program emphasizes analytical reasoning, quantitative modeling, and problem-solving skills essential for assessing financial risks and uncertainties in insurance, investments, and business operations. Students develop mathematical expertise and statistical proficiency, learning to apply probabilistic models, conduct risk assessments, and interpret complex data. Coursework integrates theory with practical applications, preparing students for professional actuarial exams and careers in risk analysis, insurance, and financial consulting.
Over four years, students engage in courses covering probability, statistics, finance, economics, and actuarial modeling. Practical experiences, case studies, and simulation exercises provide hands-on experience in evaluating financial risks, analyzing datasets, and implementing predictive models. Students also explore regulatory frameworks, ethical standards, and emerging trends in actuarial practice. By the final year, graduates demonstrate analytical competence and professional readiness, positioning them for roles in insurance, finance, consulting, or advanced studies in actuarial science, mathematics, or related disciplines.
Key information
Key Facts
- Program Title: Actuarial Science
- Degree Type: Bachelor of Science
- Duration: 4 years
- Mode of Study: Full-time, On Campus
- Application Deadline: 05 January 2026
- Location: University of Illinois Urbana-Champaign, United States
- Field of Study: Actuarial Science
- Language of Instruction: English
Program Structure
Year 1 - Foundations in Actuarial Science
• Introduction to Actuarial Science
• Calculus and Linear Algebra
• Probability and Statistics
• Academic Writing and Research Methods
Year 2 - Core Actuarial and Mathematical Concepts
• Financial Mathematics
• Statistical Modeling and Analysis
• Economics for Actuaries
• Risk Theory and Actuarial Principles
Year 3 - Applied Actuarial Science
• Life Contingencies and Insurance Models
• Predictive Analytics and Data Analysis
• Actuarial Exam Preparation
• Elective Modules in Finance or Mathematics
Year 4 - Capstone and Professional Integration
• Independent Research Project or Case Study
• Internship in Actuarial or Financial Sector
• Advanced Topics in Risk Management
• Seminar in Actuarial Practice
Career Opportunities
Graduates of this program are prepared for careers in insurance, finance, consulting, risk management, and investment analysis. Career opportunities include positions in insurance companies, financial institutions, risk consultancy firms, pension funds, and investment advisory services, where professionals assess financial risks, develop models, and provide data-driven recommendations. Graduates may also pursue roles in regulatory agencies, corporate risk departments, or continue with advanced studies in actuarial science, finance, or applied mathematics. The program equips learners with quantitative expertise, analytical skills, and problem-solving competence, enabling them to evaluate complex risks and contribute to strategic decision-making.
Why Choose This Program
This program is ideal for students interested in combining mathematics, statistics, and financial analysis to solve real-world risk problems. Learners develop analytical thinking, quantitative skills, problem-solving abilities, and professional competence, enabling them to model uncertainty and support decision-making in financial contexts. The four year curriculum balances theoretical study, practical exercises, internships, and exam preparation, providing a comprehensive understanding of actuarial science and risk management. By integrating rigorous academic training with applied experiences, the program prepares graduates to pursue careers in insurance, finance, consulting, or continue with advanced studies in actuarial science, mathematics, and related disciplines.
Contact Information
For further information, please contact the graduate admissions office at:
Phone: 217-333-0035
Email: grad@illinois.edu
Address: The Graduate College, 507 East Green Street, Suite 101, MC-434, Champaign, IL 61820, United States
