act101 | undergraduate

Introduction To Actuarial Science

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This course surveys the diversity of industries, including insurance and healthcare, which employ actuaries, along with actuarial approaches in business, including the concept of managing risk. This course introduces students to actuarial societies and their areas of focus, and sets proper expectations for the mathematical, statistical, and computer science requirements needed to be successful in the Bachelor of Science in Actuarial Science program. Students are also introduced to actuarial exams and actuarial community forums. Students self-evaluate what they will need to be successful in the program and in their careers.

This undergraduate-level course is 5 weeks To enroll, speak with an Enrollment Representative.

Course details:

Credits: 3
Continuing education units: XX
Professional development units: XX
Duration: 5 weeks

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    Statistical Software and Actuarial Exams

    • Research actuarial exam questions and exam calculator requirements.
    • Download and install R and RStudio® statistical software.
    • Explain the basic function of R and RStudio® statistical software.
    • Import a dataset into RStudio®.

    The Mathematics, Computer Science, and Statistical Skills Needed for Success as an Actuary

    • Explore actuarial Exam P/1 study resources.
    • Explain the math and statistical skills needed to succeed as an actuary.
    • Perform basic data manipulation on an insurance dataset.
    • Analyze insurance datasets.
    • Identify key terms and concepts within insurance datasets.

    Setting Up the Path to Success

    • Determine the resources needed for each stage of the study process for Exam P/1.
    • Explain how you will successfully complete your degree program and Exam P/1.
    • Determine personal areas of strengths and weaknesses for Exam P/1.
    • Explain how completion of actuarial exams can contribute to obtaining employment as an actuary.
    • Create a project plan to study for Exam P/1.

    The Role of an Actuary

    • Explain the principal responsibilities of an actuary within an organization.
    • Describe the professional credentialing requirements needed to begin a career as an actuary.
    • Identify the career optinos of an actuary.
    • Describe ethical considerations that actuaries encounter.

    Actuarial Societies, Online Community Forums, and Credentialing Exams

    • Identify the resources available in professional actuarial societies and online community forums that offer support with actuarial exams, internships, and careers.
    • Explain the major differences between CAS and SOA.
    • Compare and contrast the actuarial exam outlines between CAS and SOA.
    • Identify the time and study habits needed to successfully pass the Exam P/1.
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    While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with a University Enrollment Representative.

    Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.