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Are you good at mathematics? Are you curious about financial matters? Do you like solving problems? If so, you will enjoy studying actuarial science at Kent.
Overview
Actuaries evaluate and manage financial risks, particularly in the financial services industry. They form a small yet well-respected, influential and well-paid profession.
Our specialist degree in Actuarial Science is recognised by the Actuarial profession and is taught by professionally qualified and experienced actuaries, giving you the necessary foundation for a rewarding and stimulating career as an actuary.
Mathematics at Kent was:
- 19th for course satisfaction in The Guardian University Guide 2017.
Our degree programme
The BSc (Hons) Actuarial Science at Kent is one of the few programmes available to achieve full accreditation from the UK Actuarial profession and provides the first step towards qualifying as an actuary.
As well as developing a core understanding of mathematical and financial concepts and statistical methods, you have the opportunity to gain exemption from eight of the Core Technical Subjects (CT1 to CT8) of the professional examinations of the Institute and Faculty of Actuaries.
The programme also provides a good foundation for the later subjects. By obtaining the full set of exemptions available during your degree, you could considerably reduce your time qualifying as an actuary.
In addition to lectures and example classes, you gain practical experience of working with PROPHET, the market-leading actuarial software package used by commercial companies worldwide for profit testing, valuation and model office work.
Study resources
Facilities to support the study of Actuarial Science include:
- use of industry-standard actuarial software
- an extensive library collection of books and journals, including online resources
- the Student Learning Advisory Service (SLAS), which provides information and advice on all aspects of effective learning, study skills and exam preparation.
Supportive community
The School of Mathematics, Statistics and Actuarial Science provides a friendly and supportive environment, which helps you to make the most of your studies.
In addition to traditional teaching methods, you are encouraged to make full use of the University’s virtual learning environment and there are regular supervised classes, where you can get help and advice on the way you approach problems.
The international community within the School fosters a global outlook, giving you the chance to look at your subject from a wide range of perspectives.
Kent is also home to the Invicta Actuarial Society. Run by students and staff, it encourages valuable contact with industry professionals. The Society organises:
- open lectures
- discussions
- socials and networking events.
Your options
Many Actuarial Science students choose to spend a year in industry on a work placement. This is a chance for you to put theory into practice while making a valuable contribution to an organisation. You don’t have to make a decision before you enrol at Kent but certain conditions apply: see Actuarial Science with a Year in Industry
You can also enhance your degree studies by signing up for one of our Kent Extra activities, such as learning a language, volunteering or by taking a Study Plus course in an area that interests you.
Independent rankings
Mathematics at Kent was ranked 19th for course satisfaction in The Guardian University Guide 2017.
For graduate prospects, Mathematics was ranked 19th in The Complete University Guide 2017. Of Mathematics and Statistics students who graduated from Kent in 2015, 92% were in work or further study within six months (DLHE).
Course structure
The course structure below gives a flavour of the modules that will be available to you and provides details of the content of this programme. This listing is based on the current curriculum and may change year to year in response to new curriculum developments and innovation. Most programmes will require you to study a combination of compulsory and optional modules. You may also have the option to take ‘wild’ modules from other programmes offered by the University in order that you may customise your programme and explore other subject areas of interest to you or that may further enhance your employability.
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, a market-leading actuarial software package 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.
Programme aims
We aim to help students develop:
- skills and knowledge appropriate to graduates in mathematical subjects
- the ability to use rigorous reasoning and precise expression
- the capabilities to formulate and solve problems
- an appreciation of recent actuarial developments, and the links between the theory and its practical application in industry
- the ability to formulate a logical, mathematical approach to solving problems
- an enhanced capacity for independent thought and work
- competence in the use of IT and the relevant software
- opportunities to study advanced topics, engage in research and develop communication and personal skills
- eligibility for up to eight exemptions from examinations of the Institute and Faculty of Actuaries.
In addition, the Year in Industry aims to enhance students’ awareness of technical concepts in the workplace.
Learning outcomes
Knowledge and understanding
You gain knowledge and understanding of:
- the principles of specific actuarial mathematics techniques including calculus, algebra, mathematical methods, discrete mathematics, analysis and linear algebra
- probability and inference and time series modelling, plus specialist statistics applications in insurance
- IT skills relevant to actuaries
- methods and techniques appropriate to the mathematics of finance, finance and financial reporting, and financial economics
- the principles of economics as relevant to actuaries
- methods and techniques appropriate to survival models.
- the core areas of actuarial practice
Intellectual skills
-
You gain the following intellectual abilities:
- demonstrate a reasonable understanding of the programme's main body of knowledge
- skills in calculation and manipulation of the material in the programme
- to apply a range of concepts and principles in various contexts
- how to present a logical argument
- to solve problems using various appropriate methods
- IT skills
- research, presentation and report-writing skills
- an aptitude to work independently with relatively little guidance.
Subject-specific skills
-
You gain actuarial science skills in the following:
- specific mathematical and statistical techniques and their application to solving actuarial problems
- use of industry-specific IT skills and software
- an understanding of the practical applications of the subject material in insurance
- the ability to develop simple actuarial computer models to solve actuarial problems and to interpret and communicate the results.
Transferable skills
-
You gain transferable skills in the following:
- problem-solving in relation to qualitative and quantitative information
- written and oral communication skills
- numeracy and computation
- information retrieval, in relation to primary and secondary information sources, including online computer searches
- word-processing and other IT skills including spreadsheets and internet communication
- interpersonal skills such as the ability to interact with other people and to engage in team-working
- time-management and organisation, and the ability to plan and implement efficient and effective modes of working
- study skills required for continuing professional development.
Careers
You graduate with an excellent grounding in the fundamental concepts and principles of actuarial science, together with practical experience in the use of industry-standard actuarial software.
To help you appeal to employers, you also learn key transferable skills that are essential for all graduates. These include the ability to:
- think critically
- communicate your ideas and opinions
- manage your time effectively
- work independently or as part of a team.
Graduate destinations
The BSc (Hons) programme provides the opportunity to gain exemptions from the professional examinations set by the UK Actuarial profession, so our graduates have a head start when looking to qualify as an actuary.
It also provides an excellent foundation for careers in many other areas of finance and risk.
Recent graduates have taken up positions in:
- insurance companies and consultancy practices
- the Government Actuary’s Department
- the London Stock Exchange
- other areas of financial management.
Help looking for a job hunt
The University has a friendly Careers and Employability Service, which can give you advice on how to:
- apply for jobs
- write a good CV
- perform well in interviews.
Independent rankings [subhead]
Mathematics at Kent was ranked 19th in the UK for graduate prospects in The Complete University Guide 2017.
Of Mathematics and Statistics students who graduated from Kent in 2015, 92% were in work or further study within six months (DLHE).
According to Which? University 2017, the average starting salary for graduates of this degree is ‘high’ at £23,000.
What our graduates say
“Studying actuarial science gave me a strong foundation in the concepts of the profession, which set me apart from other candidates.”
Vikram Joshi
Actuarial Science graduate, now working for AXA Insurance
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.
Entry requirements
Home/EU students
The University will consider applications from students offering a wide range of qualifications, typical requirements are listed below, students offering alternative qualifications should contact the Admissions Office for further advice. It is not possible to offer places to all students who meet this typical offer/minimum requirement.
| Qualification | Typical offer/minimum requirement |
|---|---|
| A level | AAA at A level including Mathematics grade A including the core syllabus of Pure Mathematics (use of Mathematics is not accepted). Only one General Studies and Critical Thinking can be accepted against the requirements. |
| Access to HE Diploma | The University of Kent will not necessarily make conditional offers to all access candidates but will continue to assess them on an individual basis. If an offer is made candidates will be required to obtain/pass the overall Access to Higher Education Diploma and may also be required to obtain a proportion of the total level 3 credits and/or credits in particular subjects at merit grade or above. |
| BTEC Level 3 Extended Diploma (formerly BTEC National Diploma) | The university will consider applicants holding BTEC National Diploma and Extended National Diploma Qualifications (QCF; NQF;OCR) on a case by case basis please contact us via the enquiries tab for further advice on your individual circumstances. |
| International Baccalaureate | IB Diploma 34 points overall or 17 points at HL inc 6 in HL Mathematics. |
International students
The University receives applications from over 140 different nationalities and consequently will consider applications from prospective students offering a wide range of international qualifications. Our International Development Office will be happy to advise prospective students on entry requirements. See our International Student website for further information about our country-specific requirements.
English Language Requirements
Please see our English language entry requirements web page.
Please note that if you are required to meet an English language condition, we offer a number of pre-sessional courses in English for Academic Purposes through Kent International Pathways.
General entry requirements
Please also see our general entry requirements.
Fees
The 2016/17 annual tuition fees for this programme are:
| UK/EU | Overseas | |
|---|---|---|
| Full-time |
For details of when and how to pay fees and charges, please see our Student Finance Guide.
The Government has announced changes to allow undergraduate tuition fees to rise in line with inflation from 2017/18.
The University of Kent is currently considering whether to increase its regulated full-time tuition fees for all returning Home and EU undergraduates from £9,000 to £9,250 in September 2017. This would be subject to us satisfying the Government's Teaching Excellence Framework and the access regulator's requirements. The equivalent part-time fees for these courses might also rise by 2.8%.
For students continuing on this programme fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.* If you are uncertain about your fee status please contact information@kent.ac.uk
Funding
Kent offers generous financial support schemes to assist eligible undergraduate students during their studies. Details of our proposed funding opportunities for 2016 entry can be found on our funding page.
General scholarships
Scholarships are available for excellence in academic performance, sport and music and are awarded on merit. For further information on the range of awards available and to make an application see our scholarships website.
The Kent Scholarship for Academic Excellence
At Kent we recognise, encourage and reward excellence. We have created the Kent Scholarship for Academic Excellence. For 2016 entry, the scholarship will be awarded to any applicant who achieves a minimum of AAA over three A levels, or the equivalent qualifications as specified on our scholarships pages. Please review the eligibility criteria on that page.