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Actuarial and Financial Risk Studies Minor

This page contains the requirements for the minor. Students should consult the Actuarial Informational Page for information on a career as an actuary. If you would like a hard copy of this information, click here.

TCNJ Policy:
5 course units required for a minor, only one of which can double-count towards a major.


MAT 125 or 127, MAT 128, MAT 200 and STA 215

Courses for the Minor

Students will take 5 course units from the following list, depending on the major (see below). At least three of the courses must be taken at the 300-level or above:

Group A:

  • MAT 229 (Multivariable Calculus)
  • MAT 265 (Introduction to Financial Mathematics) offered only occasionally
  • STA 305 (Regression Analysis) OR ECO 231 (Applied Business Statistics).
  • MAT 316 (Probability)
  • STA 410(Mathematical Statistics)

Group B:

  • ECO 102 (Principles of Macroeconomics)
  • MAT 265 (Introduction to Financial Mathematics) offered only occasionally
  • FIN 201 (Fundamental Financial Methods) AND IST 201 (Introduction to Data and Information Sciences). Both of these are half-courses
  • FIN 310 (Introduction to Investments and Financial Analysis) Gives VEE-Corporate Finance credit.
  • FIN 360 (Financial Modeling) OR FIN 410 (Portfolio Management and Derivative Securities)

Statistics Majors

Students will select one course unit from Group A, which are all required in the Statistics major, and double-count this course towards the Minor. They will then take four courses listed in Group B. Statistics Majors may not take ECO 231.

Business Majors

Students will be advised to take the sequence MAT 125, MAT 128, MAT 200, and STA 215 to enable them to meet the prerequisites above. They will then choose one course from Group B (which will be the double-counting course), and 4 course units from Group A (note only two courses can be at the 200-level).

Mathematics Majors

Students may choose 5 courses units from the courses in Groups A and B but it is highly recommended that MAT 316 and STA 410 are among those selected. Students may not take ECO 231.

Other Majors

Selections from Groups A and B as advised by the Dept. of Mathematics advisor.


  • It is strongly recommended for employment reasons that students take the first Actuarial exam (Joint Exam 1/Probability) as soon as possible after completing MAT 316 (Probability).
  • While only ECO 102 is listed in Group B, it is recommended that all students take ECO 101 (Principles of Microeconomics) as an elective in order to obtain VEE-Economics credit. While only FIN 201 is listed in Group B, it is recommended students also take ACC 201 as an elective in order to receive VEE-Finance-Accounting credit. Grades of B- or higher are required for all VEE credits.
  • For information about careers in actuarial sciences, visit and visit the links to the professional societies that you will find there.