Skip to main content
University of Nebraska Omaha logo University of Nebraska Omaha
APPLY MY UNO DIRECTORY

Students Faculty Staff Community
University of Nebraska Omaha logo
College of Arts and Sciences Department of Mathematical and Statistical Sciences
APPLY MY UNO DIRECTORY
Students Faculty Staff Community
  • About Us Backback to Main menu
    • About Us
    • Contact Us
    • Faculty & Staff Directory
    • Undergraduate Colloquia & Socials
    • Mathematics Faculty Resources
  • Academics Backback to Main menu
    • Undergraduate & Graduate Programs
    • Minor in Math
    • Knowledge & Skills Gained
    • Academic Advising
    • Forms for Students
    • University General Education Options
    • Math Placement & ALEKS Exam
    • Permission Number Request Form
  • Student Opportunities Backback to Main menu
    • Student Opportunities
    • Scholarships & Financial Aid
    • Student Organizations
    • Career Opportunities
    • Study Mathematics Abroad
    • Internships
    • Fast Track Program
    • Making Art with Math
  • Community Engagement Backback to Main menu
    • Community Engagement
    • Dual Enrollment in Math
    • Data Science
    • Problem of the Week and Solutions
  • Research Backback to Main menu
    • Research Areas
    • Recent Publications
  • MatheMaverick Zone
  • SIGMAA on RUME Backback to Main menu
    • Conference Information
    • SIGMAA on RUME archive Annual Conference23
    • Registration and Accommodations
    • Conference Program
    • About Us/Contact Us
  • Support Us

Information About Actuaries

  1. UNO
  2. College of Arts and Sciences
  3. Department of Mathematical and Statistical Sciences
  4. Academics
  5. Academic Advising
  6. Undergraduate Advising
  7. Information About Actuaries

  • Related Resources

  • Nebraska Actuaries Club
  • Society of Actuaries
  • Casualty Actuarial Society
  • CreditRepair website - Risk Report: A Guide to Actuarial Science
  • University of Nebraska Lincoln Actuarial Program

An actuary evaluates the financial impact of risk by evaluating the likelihood of future events, designing creative ways to reduce the likelihood of undesirable events, and decreasing the impact of undesirable events that do occur.

What does an Actuary do?

Below is a sampling of the responsibilities of an actuary:

  • Product design
  • Marketing actuary
  • Experience studies
  • Valuation of inforce blocks
  • Profitability analysis
  • Risk management
  • Projection of future financials
  • Rating agencies and regulators
  • Influence public policy and regulations
  • Moves on to executive levels of management
Employment and Compensation:

Actuaries work for insurance companies, government, and consulting firms. In Fall 2021, a survey showed that in the Omaha region with only a bachelor's degree and some work experience, an actuary's median yearly salary was $79,952 and those with a master's made $114,889. As of 2020, the national median annual salary was $111,030.

How to prepare for actuarial work:

In the actuarial profession you can earn while you learn. Many students receive on-the-job training while enrolled in the examination process. Employers are generally supportive and may give students study time during working hours, pay exam fees, and award raises for each exam passed. However, most employers prefer to hire people who have started the series of examinations on their own and have already passed at least two or three. Exams cost approximately $250 and can be locally issued through the Sylvan Learning Centers.


The nine levels of examinations are as follows:

  • Exam 1/P - Probability (Recommended courses: MATH 4740)
  • Exam 2/FM - Financial Mathematics (Recommended course: MATH 3400)
  • Exam 3/IFM - Investment and Financial Markets
  • Exam 4/LTAM - Long-Term Actuarial Mathematics
  • Exam 5/STAM - Short-Term Actuarial Mathematics
  • Exam 6/SRM - Statistics for Risk Modeling
  • Exam 7/PA - Predictive Analytics
  • Fundamentals of Actuarial Practice e-Learning Course
  • Professional Development

Examples of exams may be found at beanactuary.com. For details on each exam (including syllabi), please visit the SOA or CAS websites.

Actuaries can become certified through the Society of Actuaries (SOA) or the Casualty Actuary Society (CAS). The SOA focuses on life and health insurance and pensions, while the CAS focuses on property and casualty insurance such as auto, homeowners and workers’ compensation.


Additional Requirements

In addition to exams, actuaries are required to take classes covering specific topics. For Validation by Educational Experience (VEE), a candidate must show that a subject has been sufficiently covered by a university or other coursework with a grade of B- or higher. There are three areas:

Accounting and Finance - Can be fulfilled by completing both ACCT 2010 and FNBK 3250
Economics - Can be fulfilled by completing both ECON 2200 and ECON 2220
Mathematical Statistics - Can be fulfilled by completing MATH 4750 (pending SOA approval Fall 2021)

Most UNO students in the Pre-Actuarial Mathematics concentration use VEE courses to complete the Cognate requirement for their Bachelors of Science.

Suggested Courses

It is additionally recommended that students complete ACCT 2020, FNBK 2710, and FNBK 3400 to familiarize themselves with the fields of insurance and finance.

Contact Us

  • Email: unomathematics@unomaha.edu

  • Main Office: 402.554.3430
  • Gen Eds/Math Placement: 402.554.3522
  • Undergraduate Advising: 402.554.2458
  • Graduate Advising

  • Department of Mathematical and Statistical Sciences
  • 6001 Dodge Street
  • Omaha, NE 68182-0243

Related Resources

  • Nebraska Actuaries Club
  • Society of Actuaries
  • Casualty Actuarial Society
  • CreditRepair website - Risk Report: A Guide to Actuarial Science
  • University of Nebraska Lincoln Actuarial Program

College of Arts and Sciences

Contact Us
  • 220 Arts & Sciences Hall
  • College Advising Office
Social media
College Resources
  • For Faculty and Staff
  • Math-Science Learning Center
  • The Writing Center
Arts and Sciences Hall building with large white columns in front of a pink and orange sunset.

Next Steps

  • Visit UNO
  • Request Information
  • Apply for Admission
  • The UNO Advantage
  • Our City (Omaha)

Just For You

  • Future Students
  • Current Students
  • Work at UNO
  • Faculty and Staff
  • A-Z List

Popular Services and Resources

  • my.unomaha.edu
  • Academic Calendar
  • Campus Buildings & Maps
  • Library
  • Pay Your Bill
  • Course Catalogs
  • Internships & Career Development
  • The Maverick Store
  • MavCARD Services
  • Military-Connected Resource Center
  • Speech Center
  • Writing Center
  • Human Resources
  • Center for Faculty Excellence

Affiliates

  • University of Nebraska System
  • NU Foundation
  • Buffett Early Childhood Institute
  • Daugherty Water for Food Institute
  • National Strategic Research Institute
  • Peter Kiewit Institute
  • Rural Prosperity Nebraska
  1. University Policies
  2. Privacy Statement
  3. Accessibility
  1. 402.554.2800

University of Nebraska Omaha
University of Nebraska Omaha, 6001 Dodge Street, Omaha, NE, 68182
  • ©  
  • Emergency Information Alert
  • MavsReport

Social Media


Omaha Skyline

Our Campus. Otherwise Known as Omaha.

The University of Nebraska does not discriminate based on race, color, ethnicity, national origin, sex, pregnancy, sexual orientation, gender identity, religion, disability, age, genetic information, veteran status, marital status, and/or political affiliation in its education programs or activities, including admissions and employment. The University prohibits any form of retaliation taken against anyone for reporting discrimination, harassment, or retaliation for otherwise engaging in protected activity. Read the full statement.