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Online Certificate in Actuarial Science
Online Certificate in Actuarial Science
Students have the option of pursing an online certificate in actuarial science or enrolling in an online actuarial science course. Read more about your options for studying actuarial science, and explore some of the course topics covered in certificate programs. Get info on certification and job options for actuaries.
Can I Pursue an Online Certificate in Actuarial Science?
It is possible to earn an online certificate in actuarial science, though on-campus programs are much more common. The 12 credit certificate can be completed on a part-time basis, allowing students to continue working at the same time. Another option is to take web-based actuarial science fundamentals course that are offered through various organizations. This course is fully online and requires you to have a computer with Internet access. Included in the course are case studies, readings and activities, a resource library, practice exercises, tests and a discussion forum to communicate with fellow students. Finally, you have the option of pursuing an on-campus program, which may be offered through a university's professional studies or continuing education department.
<table border="1"><tr><td><b>Online Availability</b></td><td> A certificate can be achieved online, though on-campus programs are far more common</td></tr>
<tr><td><b>Common Courses</b></td><td> Property and casualty, investment & ALM for actuaries, pension, introduction to life insurance</td></tr>
<tr><td><b>Job Roles</b></td><td> Designing pension plans, analyzing insurance rates, assisting in mergers and acquisitions, forecasting impacts of future events</td></tr>
<tr><td><b>Certification</b></td><td> Though not required, certification through Casualty Actuarial Society (CAS) or Society of Actuaries (SOA) may lead to better job prospects</td></tr>
<tr><td><b>Continuing Education</b></td><td> Obtaining a bachelor's or master's degree in this field is also a possibility</td></tr>
<tr><td><b> Median Salary (2020)</b> </td><td> $111,030 (<i>for all actuaries</i>) </td></tr>
<tr><td><b> Job Outlook (2019-2029)</b></td><td> 18% growth (<i>for all actuaries</i>) </td></tr>
</table><p><i>Source: U.S. Bureau of Labor Statistics</i>
</p><h3 id="section---WhatWillILearn">What Will I Learn?</h3><p>Actuarial science relies heavily on economic theories and principles, mathematics and statistics. A student pursing an online certificate in actuarial science would likely take the following courses:
</p><ul><li>Property and Casualty
</li><li>Investment & ALM for actuaries
</li><li>Pensions
</li><li>Introduction to life insurance
</li></ul><h3 id="section---WhatCanIDoWithACertificateInActuarialScience">What Can I Do With a Certificate in Actuarial Science?</h3><p>Professional actuaries calculate the cost of assuming risk. As an actuary, you may be self-employed, work with a large consulting firm that is contracted with many companies, or work exclusively for just one company. Primary employers include insurance companies, banks and investment firms. Sample actuary projects could include designing a pension plan, analyzing insurance rates, assisting in a merger or acquisition, or forecasting the potential impact of a negative future event. According to the U.S. Bureau of Labor Statistics (BLS), most employers prefer an applicant with a bachelor's degree in actuarial science, statistics, or a related field, but a certificate program or online courses are other education options (<i>www.bls.gov</i>).
</p><h3 id="section---DoINeedCertification">Do I Need Certification?</h3><p>According to the BLS, certification isn't required to work as an actuary, but it may lead to better employment opportunities or pay increases. Actuary certification is offered through the Casualty Actuarial Society (CAS) and the Society of Actuaries (SOA). Certification is mostly based on the passing of a series of exams, and students may choose to specialize in a specific area of actuarial science. Actuaries interested in working for the federal government need to fulfill additional certification requirements.
</p><h3 id="section---WhatOtherDegreesCanIPursue">What Other Degrees Can I Pursue?</h3><p>In addition to completing an online actuarial science certificate, you may want to consider enrolling in an on-campus degree program in this field. Undergraduate and graduate actuarial science degrees are offered at several colleges and universities throughout the United States. Be aware that an undergraduate degree in actuarial science or a related field, such as mathematics, finance or statistics, is a common prerequisite for a master's degree program.</p>
