The actuarial science degree is one of the few CLAS majors that prepares students for a specific profession: to become an actuary. Actuaries use mathematics to measure and account for risk in insurance and related businesses. To become a fully licensed actuary, a series of professional exams must be passed and insurance companies give new actuaries paid study time for the exams. In addition to preparing students for an actuarial career, the actuarial science major gives students strong analytical, problem-solving, and critical thinking skills that can be applied to a variety of industries and career sectors. Graduates of this program who do not pursue an actuarial career may find jobs in other parts of the insurance industry, such as sales, financial consulting, and business operations.

Additional courses in finance, economics, computer programming, and accounting are required. Unlike the other tracks, students need a 3.2 grade point average both overall and in math courses to be admitted to this major, and are required to maintain an overall 3.2 grade point average to stay in this major.