{"id":24279,"date":"2010-09-17T14:53:27","date_gmt":"2010-09-17T18:53:27","guid":{"rendered":"https:\/\/www.bu.edu\/academics\/?page_id=24279"},"modified":"2026-06-08T11:37:52","modified_gmt":"2026-06-08T15:37:52","slug":"actuarial-science","status":"publish","type":"page","link":"https:\/\/www.bu.edu\/academics\/met\/courses\/actuarial-science\/","title":{"rendered":"Actuarial Science"},"content":{"rendered":"<div class=\"course-filter\">\n<p>View courses in<\/p><ul>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/actuarial-science\/\">Actuarial Science<\/a>\n<ul>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/\">All Departments<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/actuarial-science\/\">Actuarial Science<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/administrative-sciences\/\">Administrative Sciences<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/communications-advertising\/\">Advertising<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/anthropology\/\">Anthropology<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/arts-administration\/\">Arts Administration<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/astronomy\/\">Astronomy<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/biochemistry\/\">Biochemistry<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/biology\/\">Biology<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/chemistry\/\">Chemistry<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/city-planning\/\">City Planning<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/computer-science\/\">Computer Science<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/criminal-justice\/\">Criminal Justice<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/gastronomy\/\">Gastronomy<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/health-communication\/\">Health Communication<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/history\/\">History<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/humanities\/\">Humanities<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/interdisciplinary-studies\/\">Interdisciplinary Studies<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/linguistics\/\">Linguistics<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/management\/\">Management<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/mathematics-statistics\/\">Mathematics, Statistics<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/physics\/\">Physics<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/political-science\/\">Political Science<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/psychology\/\">Psychology<\/a><\/li>\n<li><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/urban-affairs\/\">Urban Affairs<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div>\n    <ul class=\"course-feed\">\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-505\/\"><strong>MET AT 505: Actuarial and Financial Data Analysis<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tWhat happens when you need to model a complex actuarial project and your calculator isn't enough? Step into the modern actuarial environment by mastering R Studio, Microsoft Excel, and Microsoft Access. You\u2019ll roll up your sleeves to calculate premiums and analyze loss metrics over the term. It\u2019s not just about crunching numbers; it\u2019s about doing it accurately and on a tight deadline. Mastering these database and programming tools will give you the edge you need to perform high-level analysis and make an immediate impact in your career.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-511\/\"><strong>MET AT 511: Economics and Management Decisions<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tWhy do some firms thrive in uncertain markets while others fail? The difference lies in strategic economic analysis. Step into the shoes of a corporate leader and learn how to navigate complex choices around pricing, production, and investment. You\u2019ll use microeconomic tools to build probabilistic forecasts, cutting through the noise of an unpredictable economy. You\u2019ll also examine how macroeconomic trends, market structures, and public policy shape the corporate landscape. Get ready to build the economic intuition you need to drive bold management decisions.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-521\/\"><strong>MET AT 521: Financial Mathematics<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tIt has been said that \u201ccompound interest is the eighth wonder of the world.\u201d Have you ever wondered how the passage of time changes the value of a bank account, a 401(k), or a loan payment? Interest rates are the invisible engine driving the entire financial world. Build your theoretical foundation by exploring how interest calculations dictate the terms of bonds, mortgages, annuities, and complex payment structures. You\u2019ll strip away the jargon and learn exactly how financial instruments function at a mathematical level. Mastering this material helps you prepare for the SoA Exam FM \/ CAS Exam 2.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-531\/\"><strong>MET AT 531: Fundamentals of Actuarial Mathematics<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tPrerequisites: MET MA 581 or CAS MA 581; MET AT 521; or consent of instructor. How do actuaries predict the financial future of an insurance policy? You\u2019ll unpack the core mechanics of both long- and short-term insurance. Discover how to build severity and frequency models, and learn the foundational principles of credibility. You\u2019ll also get to see how life insurance companies calculate what its policyholders pay for insurance and annuities (on a theoretical basis). And, you\u2019ll learn and be astounded by how actuaries calculate how long someone is expected to live! Mastering this material helps you prepare for SoA Exam FAM.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-541\/\"><strong>MET AT 541: Introduction to Individual Insurance<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tWhat does it actually take to guarantee someone\u2019s financial security for a lifetime? Individual life insurance and annuities are more than just contracts; they are complex financial ecosystems. You\u2019ll trace the entire lifespan of these products, from initial design and risk classification to pricing and cash flow calculations. We\u2019ll also tackle the big-picture challenges companies face, like navigating taxation, managing required capital, and securing reinsurance. Understand the architecture of individual insurance so you can help build smarter, more resilient financial products.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-542\/\"><strong>MET AT 542: Introduction to Group Insurance<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tHow do organizations provide reliable health and life benefits to thousands of employees at once? You\u2019ll explore the unique actuarial principles that keep these massive systems afloat. Dive into product design, underwriting, and the complex risk management required to determine premiums and fund collective benefits. While we heavily focus on the US market, we\u2019ll also analyze the Canadian health system to broaden your perspective.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-543\/\"><strong>MET AT 543: Introduction to Property and Casualty Insurance<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tWhen a disaster strikes, who foots the bill? Welcome to the high-stakes world of property and casualty insurance. You\u2019ll learn how actuaries define insurable risks, calculate premiums, and ensure there\u2019s enough money to pay out claims, even after catastrophic losses due to the climate crisis. We\u2019ll break down the structure of homeowners, auto, and liability policies and explore how reinsurance protects insurers. By analyzing the historical court cases that shaped today\u2019s regulations, you\u2019ll gain the deep context you need to navigate the modern industry.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-544\/\"><strong>MET AT 544: Introduction to Pension Mathematics<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tPrerequisites: MET MA 581 or CAS MA 581; MET AT 521; or consent of instructor. How do we mathematically guarantee a secure retirement for millions of people? It takes brilliant design and bulletproof funding strategies. You\u2019ll explore the complex world of pension plans, learning how actuaries use life contingencies to calculate decades of future liabilities. We\u2019ll break down various actuarial funding methods and alternative payment structures used in retirement systems worldwide. Equip yourself with the specialized mathematical tools organizations need to build and maintain pensions in a changing economic climate.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-545\/\"><strong>MET AT 545: Introduction to Risk Management<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tWhat if you could see a financial disaster coming before it hits? Risk management is the art and science of anticipating the unexpected. You\u2019ll learn how to build resilient frameworks that protect assets across life, pension, health, and property and casualty insurance. Step into the risk management process to identify, assess, and mitigate threats using industry-standard tools. We\u2019ll also navigate the ethical and regulatory challenges that modern actuaries face. Become the strategic thinker who keeps financial institutions safe in a volatile world.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-581\/\"><strong>MET AT 581: Probability for Actuaries<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tPrerequisite: MET MA 225 or instructor\u2019s consent. Can you capture pure chance in a formula? Probability isn\u2019t just a math requirement; it\u2019s the language actuaries use to understand uncertainty. You\u2019ll build a rigorous foundation in discrete and continuous random variables, conditional probability, and moment generating functions. From there, you\u2019ll tackle advanced concepts like the law of large numbers and the central limit theorem. Master the mathematical logic of probability to sharpen your analytical mindset. Mastering this material helps you prepare for SoA Exam P\/CAS Exam 1.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-582\/\"><strong>MET AT 582: Mathematical Statistics for Actuaries<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tPrerequisite: MET AT 581 or instructor\u2019s consent. How do you make million-dollar decisions based on a limited set of data? It requires masterful statistical intuition. You\u2019ll elevate your analytical power by learning how to estimate parameters, test complex hypotheses, and run powerful regression models. We\u2019ll dive into maximum likelihood estimation, ANOVA, and nonparametric tests to draw accurate conclusions from messy real-world numbers. Build the advanced statistical frameworks you need to back up your business decisions. This course has been approved for SoA\/CAS VEE credit in Mathematical Statistics.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-722\/\"><strong>MET AT 722: Finance for Actuaries<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tPrerequisites: MET AT 521. How do corporate giants value investments and navigate financial markets? Take your knowledge of financial mathematics to the corporate level. You\u2019ll master the tools of the trade, including net present value, internal rate of return, and capital budgeting. Then, you\u2019ll push further into the mechanics of option pricing theory, breaking down binomial lattice valuation and the renowned Black-Scholes formula. Gain the high-level financial acumen needed to drive corporate strategy. This course has been approved for the \u201cFinance\u201d portion of the SoA\/CAS VEE credit in Finance and Accounting.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-743\/\"><strong>MET AT 743: Regression and Time Series<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tPrerequisites: MET MA 582, CAS MA 582 or consent of instructor. Can yesterday\u2019s data really predict tomorrow\u2019s market? Yes, if you have the right statistical models. You\u2019ll unlock the predictive power of regression and time series analysis. Learn to build multiple regression models, analyze residuals, and tame messy data by addressing heteroscedasticity. Then, shift your focus to the future using time-series smoothing and linear models to forecast trends. Mastering this material helps you prepare for SoA Exam SRM.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-761\/\"><strong>MET AT 761: Mathematics for Investment and Portfolio Theory<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tPrerequisites: MET MA 581 or CAS MA581 and AT 521. How do the world\u2019s best financial managers maximize returns without risking it all? They rely on modern portfolio theory. You\u2019ll dissect the risk and return characteristics of primary financial products and master the mathematical principles behind term structures and yield curves. Explore powerful tools like the Markowitz Portfolio Selection Model and the CAPM. By diving into derivative securities and immunization techniques, you\u2019ll develop the sophisticated expertise required for elite interest rate risk management.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-762\/\"><strong>MET AT 762: Mathematical Finance for Actuarial Science<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tPrerequisites: MET MA 581 and MET AT 521 or consent of instructor. How do financial institutions protect themselves against massive market swings? They use complex derivatives, which you\u2019ll learn about in this course. You\u2019ll uncover the mathematical mechanics of options and analyze their critical role in insurance and risk management. We\u2019ll break down the rational valuation of these products, mastering put-call parity, binomial options, and the famous Black-Scholes pricing model. Equip yourself with the cutting-edge financial mathematics necessary to manage uncertainty in modern markets.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-771\/\"><strong>MET AT 771: Advanced Long-Term Actuarial Mathematics<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tPrerequisites: MET AT 531 or consent of instructor. What happens when your pristine mathematical assumptions collide with a messy reality? It\u2019s time to upgrade your long-term financial models. You\u2019ll explore the critical concept of insurance reserves, learning how they are calculated and how they react when real-world results miss the mark. Expand your expertise by mastering multiple life and decrement models and Multiple State\/Markov Chains. By learning to model complex, long-term realities, you\u2019ll elevate your professional practice. Mastering this material helps you prepare for SoA Exam ALTAM.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-781\/\"><strong>MET AT 781: Advanced Short-Term Actuarial Mathematics<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tPrerequisites: MET AT 531 or consent of instructor. How do you accurately price an insurance policy when you don\u2019t have all the data? In short-term insurance, like medical or auto, uncertainty is the only constant. You\u2019ll push your modeling skills to the limit by tackling advanced severity, frequency, and aggregate models. You\u2019ll learn to evaluate both complete and incomplete data sets to build accurate pricing structures. Finally, you\u2019ll master crucial credibility models, including Classical, B\u00fchlmann-Straub, and Bayesian methods, to continuously refine your accuracy. Mastering this material helps you prepare for SoA Exam ASTAM.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-799\/\"><strong>MET AT 799: Capstone in Actuarial Science<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tRestrictions: only for students in the final semester of the MS in Actuarial Science degree program. Are you ready to prove you have what it takes to solve real industry problems? This is where everything you\u2019ve learned comes together. You\u2019ll collaborate with your peers on a massive, integrated research project, tackling the exact challenges facing today\u2019s top insurance and financial firms. You won\u2019t just run numbers; you\u2019ll develop comprehensive, innovative solutions. In addition, the course emphasizes the \u201csoft skills\u201d of actuarial work, including ethics, the Emotional and Adaptability Quotients (EQ and AQ), Actuarial Standards of Practice, and the history of insurance.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-981\/\"><strong>MET AT 981: Internship in Actuarial Science 1<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tPrerequisites: MET AT 521, MET AT 531, cumulative GPA of 3.3 or higher, and consent of instructor. The course is offered to students who seek practical applications of actuarial principles in insurance companies, financial institutions, pension consulting firms, and other related fields. Participation in an internship program within the industry is required.\t\t\t\t\t<\/li>\n\t\t<li>\n\t\t\t<a href=\"\/academics\/wp-json\/wp\/v2\/pages\/met-at-982\/\"><strong>MET AT 982: Internship in Actuarial Science 2<\/strong><\/a><br \/>\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tPrerequisites: MET AT 521, MET AT 531, cumulative GPA of 3.3 or higher, and consent of instructor. The course is offered to students who seek practical applications of actuarial principles in insurance companies, financial institutions, pension consulting firms, and other related fields. Participation in an internship program within the industry is required.\t\t\t\t\t<\/li>\n    <\/ul>\n<div class=\"pagination\"><span class=\"current\">1<\/span><span><a href=\"https:\/\/www.bu.edu\/academics\/met\/courses\/urban-affairs\/2\/\">2<\/a><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2129,"featured_media":0,"parent":226,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/academics\/wp-json\/wp\/v2\/pages\/24279"}],"collection":[{"href":"https:\/\/www.bu.edu\/academics\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.bu.edu\/academics\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/academics\/wp-json\/wp\/v2\/users\/2129"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/academics\/wp-json\/wp\/v2\/comments?post=24279"}],"version-history":[{"count":10,"href":"https:\/\/www.bu.edu\/academics\/wp-json\/wp\/v2\/pages\/24279\/revisions"}],"predecessor-version":[{"id":101863,"href":"https:\/\/www.bu.edu\/academics\/wp-json\/wp\/v2\/pages\/24279\/revisions\/101863"}],"up":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/academics\/wp-json\/wp\/v2\/pages\/226"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/academics\/wp-json\/wp\/v2\/media?parent=24279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}