Timely Curriculum Changes to an Undergraduate Actuarial Program

Abstract

This article describes recent changes to the undergraduate actuarial program at Bryant University, one of the first schools in the country to start such a program, and the results of those changes. Because university programs must keep their curricula aligned with the changing examination requirements of the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS), the department implemented a significant curriculum change in 2014 so that all students could take academic courses covering the material for four preliminary actuarial exams. The main change was the introduction of electives: a new course on actuarial mathematical models and stochastic calculus for Exam MFE/3F; a revamped Advanced Probability course with a statistical emphasis on model fitting, taught in a flipped-classroom format; a new course on property and casualty reserving; and a set of seminar courses linked to individual professional exams, also taught using the flipped classroom. Exam pass rates from 2013 to 2015, gathered from a survey of majors in the department, are presented. The authors conclude that since 2014 more students are taking more exams while still in the undergraduate program, a direct achievement of the curriculum change. The article also discusses future growth, noting the need for business, communication and foreign language skills alongside a sound foundation in actuarial mathematics.

Abstract prepared by the editorial office from the full text of the article; the authors did not supply one.