Mathematics / Undergraduate Study

Financial Actuarial Mathematics BS

Learning Outcomes

The Financial Actuarial Mathematics major has the following learning outcomes:

  • Strong mathematical content knowledge of single and multivariate differential and integral calculus, and differential equations
  • Demonstrated knowledge of how to synthesize material, solve problems, and think abstractly
  • Familiarity with linear algebra, techniques of proof, and foundations of real analysis
  • Ability to pass at least the first four preliminary Society of Actuaries exams
  • Familiarity with basic statistical analysis including probability distributions, random variables, survey sampling, testing, data summary, sums of squares principle, testing general linear hypothesis in regression, and inference procedures
  • Ability to perform basic computer programming, especially in C++

Premajor

Students entering UCLA directly from high school or first-term transfer students who want to declare the Financial Actuarial Mathematics premajor at the time they apply for admission are automatically admitted to the premajor.

Current UCLA students need to file a petition with the Student Services Office in 6356 Mathematical Sciences. All students are identified as Financial Actuarial Mathematics premajors until they satisfy the following minimum requirements for the major: (1) achieve grades of C or better in all premajor mathematics sequenced courses (Mathematics 31A, 31B, 32A, 32B, 33A, 33B, Program in Computing 10A) with a minimum 2.5 grade-point average and no more than two repeats, (2) achieve grades of C or better in all premajor economics courses (Economics 1, 2, 11, Management 1A, 1B) with a minimum 2.5 grade-point average and no more than one repeat, and (3) file a petition to declare the major before completing 160 quarter units.

Preparation for the Major

Required: Mathematics 31A, 31B, 32A, 32B, 33A, 33B, Economics 1, 2, 11, Management 1A, 1B, Program in Computing 10A. Each course must be taken for a letter grade. The economics preparation for the major courses (Economics 1, 2, 11, Management 1A, 1B) are calculated separately from the mathematics preparation for the major courses (Mathematics 31A, 31B, 32A, 32B, 33A, 33B, Program in Computing 10A). The economics preparation courses must be completed with a minimum overall 2.5 grade-point average and a grade of C or better in each course, as must the mathematics preparation courses.

Repetition of more than one economics preparation course, more than two mathematics preparation courses, or of any economics or mathematics preparation course more than once results in automatic dismissal from the major.

Freshman Students

To enter the major, students must petition after they have completed the six sequenced courses with a 2.5 minimum overall grade-point average and before completing 160 quarter units.

Transfer Students

Transfer applicants to the Financial Actuarial Mathematics major with 90 or more units must complete as many of the following introductory courses as possible prior to admission to UCLA: two years of calculus for majors, one C++ programming course, one microeconomic theory course, one macroeconomics course, and two terms of accounting principle.

Transfer credit for any of the above is subject to department approval; consult with an undergraduate counselor before enrolling in any courses for the major.

Refer to the UCLA transfer admission guide for up-to-date information regarding transfer selection for admission.

The Major

Required: Eight mathematics/statistics courses, including Mathematics 115A, 131A, 170A, 170B, 174E (or Economics 141 or Statistics C183), 175; one two-term sequence from the following categories: life contingency actuarial models — courses 172B and 172C, or casualty loss models — courses 173A and 173B; and three courses from 172B through 173B, Economics 101 through 199B, Statistics 100C. Each course must be taken for a letter grade. Transfer credit is subject to department approval; consult with an undergraduate counselor before enrolling in any courses for the major.

To graduate, the eight Mathematics Department courses must be completed with an overall grade-point average of 2.0, with grades of C− or better in Mathematics 115A and 131A, as must the three courses from the Economics Department.

Mathematics 115A is required of all majors and is intended to be the first upper-division course taken. It is strongly advised that students take Mathematics 115A as soon as the major is declared, if not earlier.