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Actuarial and Financial Risk Studies Minor

TCNJ Policy: 5 course units required for a minor, only one of which can double-count towards a major.

Prerequisites:

MAT 125 or 127, MAT 128, MAT 200 and STA 215

Courses for the Minor

Students will take 5 course units from the following list, depending on the major (see below):

Group A:

  • MAT 229 (Multivariable Calculus)
  • STA 305 (Regression Analysis) Gives VEE-Applied Statistics credit.
  • MAT 316 (Probability)
  • STA 410/MAT 318 (Mathematical Statistics)

Group B:

  • ECO 102 (Principles of Macroeconomics)
  • FIN 201 (Fundamental Financial Methods) AND MIT 201 (Information Systems: Concepts and Applications). Both of these are half-courses
  • FIN 310 (Introduction to Investments and Financial Analysis) Gives VEE-Corporate Finance credit.
  • FIN 360 (Financial Modeling) OR FIN 410 (Portfolio Management and Derivative Securities)

Statistics Majors

Students will select one course unit from Group A, which are all required in the Statistics major, and double-count this course towards the Minor. They will then take four course units from Group B.

Business Majors

Students will choose one course unit from Group B (which will be the double-counting course), and four course units from Group A.

Mathematics Majors

Students may choose 5 course units from Groups A and B but it is recommended that MAT 316 and STA 410/MAT 318 are among those selected.

Other Majors

Selections from Groups A and B as advised.

Notes:

  • It is strongly recommended for employment reasons that students take the first Actuarial exam (Joint Exam 1/Probability) as soon as possible after completing MAT 316 (Probability).
  • The major North American professional actuarial certifying organizations will give VEE (Validation by Educational Experience) credit in Economics for a grade of B- or higher in both ECO 101 and ECO 102. So, while only ECO 102 is listed in Group B, it is recommended that all students take ECO 101 (Principles of Microeconomics) as an elective in order to obtain VEE-Economics credit.
  • VEE credit in Applied Statistics will be given for grades of B- or higher in STA 305.
  • For information about careers in actuarial sciences, visit http://www.beanactuary.org/ and visit the links to the professional societies that you will find there.
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