Actuarial Science & Risk Management

College of Business & Public Administration
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Actuarial Science Minor

Actuarial Science is the study of applied mathematics, statistics, finance, and risk management in both insurance and business consulting contexts.  Actuaries develop the various insurance products that policyholders may buy, while also pricing those products and ensuring their companies have enough money (assets) set aside to fund future claims (liabilities).  Drake's Actuarial Science minor provides students with a sound calculus background, which then enables them to learn basic probability and time-value-of-money topics.  Classes incorporate both the core concepts students need to be successful in their actuarial or risk management careers, and the problem-solving skills required to pass the introductory professional actuarial exams.  

This minor is available to all Drake students. Requirements can be found on the Drake Catalog.

Risk Management and Insurance Minor

Risk Management and Insurance studies ways to identify risks along with deciding which risks to retain and which to transfer.  For both individuals and businesses, risk is commonly transferred to others using insurance.  Drake’s Risk Management and Insurance minor provides an understanding of how to apply risk management principles to personal and business decisions.  Students learn the fundamentals of personal financial planning and prepare for decision-making leadership roles in the insurance industry and other organizations.

This minor is available to all Drake students. Requirements can be found on the Drake Catalog.