Actuarial Science
| Key facts | |
|---|---|
| Location: | Canterbury |
| Award: | BSc (Hons) |
| Type: | Full-time |
| Options: | A year working in industry. |
| Further information | |
| Download: | Subject leaflet |
| Online: | Department |
Actuaries evaluate and manage financial risks, particularly in the financial services industry. They form a small yet well respected, influential and relatively well paid profession. If you are good at mathematics and you are curious about financial matters, you should enjoy studying actuarial science.
Our degree gives you the opportunity to gain exemptions from eight of the professional examinations set by the UK actuarial profession, and is one of the few programmes to achieve full accreditation from the profession. Once you qualify, employment prospects are good, and students from this course have also gone on to successful careers in other areas such as accountancy, banking or operational research.
The core actuarial modules are taught by professionally qualified actuaries with many years industry experience. The course offers an optional year in industry and we run the ‘Invicta Actuarial Society’ which provides good links with industry.
Our department is friendly and we make a point of getting to know our students on a one-to-one basis.
Degree programmes
Single honours
Did you know…
In the National Student Survey 2008, 98% of Kent’s Finance students said they were satisfied with the overall quality of the course.
- Actuarial Science (N323)
- Actuarial Science with a Year in Industry (N324)
Core modules
Stage 1
You take six core modules of 15 credits and one of 30 credits (Financial Mathematics).
Core modules
- Algebra
- Calculus
- Discrete Mathematics and Computing
- Economics for Mathematicians
- Financial Mathematics
- Mathematical Methods
- Probability and Statistics
Stage 2/3
You take six core modules of 15 credits and one of 30 credits (Finance and Financial Reporting).
Core modules
- Analysis
- Contingencies 1
- Finance and Financial Reporting
- Linear Algebra
- Probability and Inference Statistics for Insurance
- Time Series and Simulation
Again you take six core modules of 15 credits and one of 30 credits (Financial Economics).
- Contingencies 2
- Financial Economics
- Financial Modelling
- Life Assurance Practice
- Pension Funds
- Stochastic Processes
- Survival Models
We are fully committed to continually developing and improving our programmes, and the course details above may change.
Year in industry
We offer the opportunity for you to gain practical work experience with an insurance company, either during the summer vacation or for a one- year placement between Stages 2 and 3.
Foundation year
If, for whatever reason, your grades do not qualify you for direct entry, you may be able to take a four-year degree with a foundation year (with an initial year of Mathematics). More information about a foundation year in mathematics.
Teaching and assessment
Most of the teaching is by lectures and examples classes. At Stage 1, you can go to regular supervised classes where you can get help and advice on the way you approach problems. Modules which include programming or working with computer software packages usually involve practical sessions.
Each year, there are a number of special lectures by visiting actuaries from external organisations, to which all students are invited. These lectures help to bridge the gap between actuarial theory and its practical applications.
The course provides practical experience of working with PROPHET, which is used by commercial companies worldwide for profit testing, valuation and model office work. This market-leading actuarial system is provided by SunGard, a global leader in integrated software and processing solutions primarily for financial services.
The final mark for almost all Stage 1, 2 and 3 modules is assessed by end-of-year examinations with 10% or 20% awarded for coursework or a project.
Entry requirements.
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Offer levels
A/AS level 340 points (3.5 A level equivalents) including AA at A level, IB 35 points (6 at Higher Mathematics)
Required subjects
A level Mathematics grade A including the core syllabus of Pure Mathematics
Careers
Professional recognition
Our degree can give exemption from the core technical subjects (CT1 to CT8) of the professional examinations set by the UK actuarial profession, and gives a firm foundation for the later specialist technical subjects. Graduates may also get exemption from some of the examinations set by the Chartered Insurance Institute
Our graduates have found work as trainee actuaries, in financial management in insurance companies and consultancy practices, the government actuary’s department, the stock exchange and other areas of financial management, or have gone on to further study.
