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Actuarial Science, B.Sc.

  • Application Deadline
  • 48 months
    Duration
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Overview

Actuarial science is the study of problems of insurance and finance through mathematical modeling. Actuaries develop theoretical models to evaluate the current financial implications of uncertain future events. As such, actuaries requires a combination of strong analytical skills, business knowledge, and understanding of human behavior to manage complex risks facing our society. 

Actuarial Science Program

Otterbein University is the first private university in Ohio offering a BS in Actuarial Science. Our students receive closely-directed classroom instruction and individualized advising. Our program provides preparation for the professional actuarial examinations administered by the Casualty Actuary Society and the Society of Actuaries. 

We also offer courses approved by Society of Actuaries and Casualty Actuarial Society which cover all three Validation by Education Experience (VEE) exams. These are required for actuarial certification.

What does an actuary do?

  • Actuaries analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits (Bureau of Labor Statistics).

How much does an actuary make?

  • Actuaries are well compensated. Beginning salaries for actuaries with a bachelor’s degree range from $50,000 to $65,000 annually. Experienced Fellows have the potential to earn from $150,000 to $250,000 annually. 

Where does an actuary work?

  • The insurance industry, private corporations, consulting firms, and the government. Actuaries also work for banks and investment firms, public accounting firms, labor unions, rating bureaus, and fraternal organizations.

Detailed Programme Facts

  • Programme intensity Full-time
    • Full-time duration 48 months
  • Credits
    120 alternative credits
  • Languages
    • English
  • Delivery mode
    On Campus

Programme Structure

Courses include:

  • Financial Mathematics
  • Models for Financial Economics
  • Actuarial Models
  • Loss Models
  • Predictive Analytics
  • Data Modeling and Management
  • Principles of Microeconomics
  • Principles of Macroeconomics
  • Calculus

English Language Requirements

  • Minimum required score:

    79

    The TOEFL iBT ® measures your English-language abilities in an academic setting. The test has four sections (reading, listening, speaking, and writing), each with a score range of 0-30, for a total score range of 0-120.

  • Minimum required score:

    6.5

    The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

    Get a free IELTS practice test
  • Minimum required score:

    550

    The TOEFL®PBT is administered in a paper format and measures your ability to use and understand English in a classroom setting at the college or university level. It accurately measures how well you can listen, read and write in English while performing academic tasks.

General Requirements

  • Common Application, including essay.
  • $50 Application fee.
  • Official transcripts/documents for four years of high school/secondary school (grades 9-12).
  • Official Bank Statement(s) and Sponsor Guarantee form.
  • Copy of passport and current visa (if applicable).
  • All test scores must be reported directly from the testing center.
  • Foreign language documents must be translated into English by the issuing institution, a certified translator or English teacher.
  • SAT and ACT test scores and letters of recommendation are optional and may be submitted if they strengthen your application.

Tuition Fee

  • International

    32624 USD/year
    Tuition Fee
    Based on the original amount of 32624 USD per year and a duration of 48 months.
  • National

    32624 USD/year
    Tuition Fee
    Based on the original amount of 32624 USD per year and a duration of 48 months.
We've labeled the tuition fee that applies to you because we think you are from and prefer over other currencies.

Living costs for Westerville

  • 1189 - 1970 USD/month
    Living Costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.

Funding

Studyportals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

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