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The objective of the Master of Business and Science with a concentration in Actuarial Sciences concentration is to educate students about the field of actuarial science and the financial impact of risk and uncertainty. This concentration will teach students how to provide assessments of financial security systems with a focus on their complexity, their mathematics, and their mechanisms. Students will learn how to evaluate the likelihood of events and quantify contingent outcomes to minimize losses, both emotional and financial, associated with undesirable events. Electives can be taken in risk management, financial computing, quantitative finance and financial mathematics. Those interested in statistics with a computing bend, please see the concentration in Analytics. 
Students with an MBS in Actuarial Science can work as accountants, actuaries for insurance companies, risk managers, as well as financial analysts.
The Actuarial Science concentration consists of 5 required courses and 3 electives.
Students completing this core curriculum must pass the P and one other exam for graduation. Students will also be eligible to take the FM, the M and the C exams. Students who have passed one or more of these exams, or who have had some of these courses undergraduate can substitute electives.
There are five core courses, labeled I-V and listed below. NB courses are in New Brunswick, Camden courses are in Camden
I.Take one basic probability course from the following list:
01: 640:478 Probability II (3) (NB)
56:645:582 Probability and Actuarial Mathematics (3) (Camden)
16:960:580 Basic Probability (3) (NB)
16:960:582 Introduction to Methods and Theory of Probability (3) (NB)
Note: After Completion of this course 'P' exam can be taken.
Important: Completion of the 'P' exam is a graduation requirement for the MBS degree. Students are strongly urged to take this exam as soon as they can.
Student can take II or III independently and in any order.
II. 16:137:508/56:137:508 Introduction to Financial Mathematics
Note: After completion of the above course 'FM' exam can be taken.
III. 56:645:569 Actuarial Models (3) (Camden)
or, 16:960:542 Life Data Analysis (3)(NB)
Note: After completion of the above course 'M' exam can be taken.
IV. 16:960:563 Regression Analysis (3) (NB)
56:645:567 Statistical Models (3) (Camden)
V. 16:960:565 Applied Time Series Analysis (3) (NB)
Or, 16:540:530 Forecasting and Time Series Analysis (3) (NB)
Or, 56:645:565 Time Series & Forecasting (3) (Camden)
Note: After completion of the courses in IV and V the 'C' exam can be taken.
Course Descriptions  (click here)
Students can choose two electives from the courses. Electives include VEE courses. Students should also take computing electives.
Electives  (click here)
Students interested in this program should have a background in calculus and linear algebra. Students must have completed 50:640:250 Linear Algebra (or equivalent) and 640:251 Multivariable Calculus (or equivalent). The General GRE is required for admission as well as TOEFL (needed for international students whose native languages are not English.
Dr. Dan Ocone
Dr. Debashis Kushary
All students apply through the main graduate admissions portal http://gradstudy.rutgers.edu . Select the program name as Business and Science and select the concentration as Actuarial Science. Concentrations are available on different campuses, please check with the concentration to see which campus it is offered on. Some are offered on more than one campus, and some have courses that share different campuses.
The MBS (Master of Business & Science) is a Professional Science Master's Degree combining graduate science courses (MS level) in a particular concentration with courses in business.