Finance, Bachelor of Science (B.S.) with a concentration in actuarial science

The actuarial science concentration provides excellent preparation for the basic professional examinations and continued study in actuarial science. Students who complete this concentration also may find employment in areas such as quantitative applications in corporate and public financial policy, actuarial modeling and forecasting, reserves computation and rate making, and computer and information systems in the financial services and risk management industries.

Learning goals

• Acquire a comprehensive understanding of actuarial science and risk management principles, bridging theoretical concepts with real-world industry applications.

• Develop the quantitative and analytical skills necessary to extract, analyze, and interpret complex datasets for informed decision-making.

• Advance professional skills, including critical thinking, problem-solving, and effective communication, to approach complex business challenges with analytical rigor and strategic creativity.

Student learning outcomes

Upon completing this program:

• Actuarial Principles Application: Accurately apply actuarial science principles and core knowledge. A key outcome is ensuring students are prepared with the content necessary to successfully pass the first two professional examinations administered by the CAS and SOA, providing a direct pathway to a career as an actuary.

• Quantitative Insight: Proficiently use quantitative and analytical techniques to generate data-driven insights for assessing and managing risks and opportunities in actuarial contexts.

• Professional Agility & Curiosity: Demonstrate learning agility by developing a curious outlook toward existing models and new information, quickly absorbing new knowledge and actively seeking challenges in the evolving financial and technological landscape.

Special requirements

The School of Business has special academic policies, including policies on transfer credits, that apply to all undergraduate degrees. 

School of Business and B.S. in Finance progression policies

Students enrolled in undergraduate programs of the School of Business engage in a demanding curriculum designed to set them up for success in the world of business. In order to successfully maintain progress towards graduation, students are required to meet the following criteria in order to remain in their majors:

• Students are required to pass major and ancillary requirements within two attempts. If a student withdraws from a course, it will count as an attempt. 

  • Upon the third attempt at a course, students will be placed on business probation and must pass the course successfully in that third attempt.

• Students must maintain a minimum 2.0 major GPA.

  • If a student's major GPA drops below 2.0, they will be placed on business probation and allowed one semester to raise their major GPA to 2.0. 

Upon notification of being placed on business probation, students will receive a registration hold, and must meet with their business adviser prior to the add/drop deadline of the pursuant semester in order to create an action plan to either pass the repeated course successfully, or increase their major GPA.

Students who do not meet the performance expectations of business probation in that same semester will be required to change their major prior to the start of the next semester.

Students may appeal the change of major via the associate dean of the School of Business. Students must initiate the appeal with their assigned academic adviser. The associate dean may, at their discretion, extend the time period needed to meet the requirements, generally by only one semester. A student who wishes to appeal must submit his or her appeal at least one week prior to the start of the next semester in which they register for classes.

Degree requirements for Finance, Bachelor of Science (B.S.) with a concentration in actuarial science

The minimum number of credit hours required for this degree is 120.

Approved actuarial science electives

What follows is a sample plan that meets the prescribed requirements within a four-year course of study at VCU. Please contact your adviser before beginning course work toward a degree.

Recommended course sequence/plan of study 

Freshman year
Fall semester		Hours
BUSN 201 or BUSN 205	Foundations of Business 1 or Introduction to the World of Business 1	3
UNIV 111 Play course video for Introduction to Focused Inquiry: Investigation and Communication	Introduction to Focused Inquiry: Investigation and Communication (satisfies general education UNIV foundations)	3
UNIV 191 or UNIV 101 or UNIV 103	Student Success Special Topics or Introduction to the University or Education and Career Planning	1
General education courses		6
Open elective (prerequisite to BUSN 212 suggested)		3
	Term Hours:	16
Spring semester
ACCT 203	Introduction to Financial Reporting	3
BUSN 212 or MATH 200	Business Problem Solving and Analysis or Calculus with Analytic Geometry I	4
ECON 210	Principles of Microeconomics (satisfies general education BOK for social/behavioral sciences and/or AOI for global perspectives)	3
UNIV 200	Advanced Focused Inquiry: Literacies, Research and Communication (satisfies general education UNIV foundations)	3
General education course		3
	Term Hours:	16
Sophomore year
Fall semester
ACCT 204	Introduction to Managerial Accounting	3
ECON 211	Principles of Macroeconomics	3
MKTG 301	Marketing Principles	3
SCMA 301	Business Statistics I	3
General education course		3
	Term Hours:	15
Spring semester
BUSN 301	Career and Professional Development	1
BUSN 325	Business Communications	3
FIRE 311	Financial Management	3
MGMT 303	Creativity and Ideation	3
MGMT 310	Managing People in Organizations	3
General education course		3
	Term Hours:	16
Junior year
Fall semester
FIRE 312	Financial Modeling	3
FIRE 319	Financial Mathematics	3
INFO 360	Business Information Systems	3
SCMA 320	Production/Operations Management	3
Approved actuarial science elective		3
	Term Hours:	15
Spring semester
BUSN 323	Legal Environment of Business	3
FIRE 317	Investments	3
FIRE 320	Actuarial Probability Concepts	3
Open elective		3
	Term Hours:	12
Senior year
Fall semester
FIRE 321	Intermediate Financial Management	3
Approved actuarial science electives		6
General education course		3
Open elective		3
	Term Hours:	15
Spring semester
BUSN 499	Business Knowledge Exam	0
MGMT 434	Strategic Management	3
Approved actuarial science electives		6
Open electives		6
	Term Hours:	15
	Total Hours:	120

The minimum number of credit hours required for this degree is 120.