Actuarial Science

The Bachelor of Science (B.S.) degree in Actuarial Science is for students who are interested in analyzing statistics for the purpose of making risk assessments in financial markets, insurance industries and more. 

We’ve designed our program specifically for students who want to enter a career in actuarial science following graduation. Courses focus on all three of the Validation by Educational Experience (VEE) areas: economics, corporate finance and mathematical statistics. Olivet is one of only a few of the schools in the Council for Christian Colleges and Universities (CCCU) that offers a this degree and few schools make all three VEE areas available to their undergraduate students. 


Required Exams

Olivet prepares students to take two required exams jointly sponsored by the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS): Probability and Financial Mathematics. SOA certifies actuaries in the fields of life insurance, health benefits systems, retirement systems, and finance and investment. CAS covers the property and casualty field, which includes automobile, homeowners, medical malpractice, workers compensation and personal injury liability. 

The first exam tests one's math competence and helps evaluate students’ career potential. After the first few exams, students will choose a specialty. Then, students continue by taking a series of four or more exams. Students will take one exam at end of their sophomore year, and the second at end of their junior year. The pass rate for Olivet students is better than national pass rate averages for each exam. Passing two or more examinations gives students better opportunities for employment at a higher starting salary.

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Putnam Exam

Taking the Putnam Exam is designed to discriminate at the highest level and to identify the best math students in country. This eight-hour exam challenges even professional mathematicians and a select group of Olivet students meet that challenge head-on each year. Olivet students also compete as a team in the Associated Colleges of Chicago Area (ACCA) annual Calculus Competition.

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