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Students
Tuition Fee
GBP 18,600
Per year
Start Date
Medium of studying
On campus
Duration
48 months
Program Facts
Program Details
Degree
Foundation
Major
Actuarial Science | Probability Theory | Statistics
Area of study
Mathematics and Statistics
Education type
On campus
Timing
Full time
Course Language
English
Tuition Fee
Average International Tuition Fee
GBP 18,600
About Program

Program Overview


The University of Kent's Actuarial Science with Foundation Year BSc (Hons) prepares students for careers in financial risk management and actuarial science. Accredited by the Institute and Faculty of Actuaries, the program grants exemptions from professional exams, equipping graduates with the skills and knowledge to become qualified actuaries. Students develop strong mathematical, reasoning, and problem-solving abilities, along with proficiency in industry-standard software. The program emphasizes practical applications and offers opportunities for industry experience, ensuring students are well-prepared for the demands of the profession.

Program Outline


Actuarial Science with a Foundation Year - BSc (Hons) - University of Kent


Degree Overview:

This program aims to equip students with the necessary skills and knowledge to become qualified actuaries, specializing in financial risk management. The program is fully accredited by the Institute and Faculty of Actuaries (IFoA), granting students up to six exemptions from the 13 professional examinations required for actuarial qualification.


Objectives:

The program aims to develop students' abilities in:

  • Mathematical skills and knowledge: Students will gain a strong foundation in mathematics, statistics, finance, and economics.
  • Rigorous reasoning and precise expression: Students will learn to think critically and communicate their ideas clearly and effectively.
  • Problem-solving: Students will develop the ability to formulate and solve problems using a logical, mathematical approach.
  • Appreciation of actuarial developments: Students will gain an understanding of the latest developments in actuarial science and how theory is applied in practice.
  • Independent thought and work: Students will be encouraged to think independently and work effectively on their own.
  • IT skills and software: Students will gain proficiency in industry-standard software like PROPHET, R, and Python.
  • Communication and personal skills: Students will develop their communication and interpersonal skills through various activities.
  • Eligibility for actuarial exemptions: Students will be eligible for up to eight exemptions from IFoA examinations.

Outline:


Foundation Year:

  • This year provides students with a strong foundation in mathematics, preparing them for university-level study.
  • Students will develop their mathematical skills and learn some university-level material.

Actuarial Science:

  • The program spans three years, covering modules in mathematics, statistics, finance, and economics.
  • Students will learn about the principles of actuarial mathematics techniques, including calculus, algebra, mathematical methods, discrete mathematics, analysis, and linear algebra.
  • They will also study probability and inference, time series modelling, specialist statistics applications in insurance, IT skills relevant to actuaries, and the mathematics of finance.
  • Other modules include finance and financial reporting, financial economics, the principles of economics as relevant to actuaries, survival models, and the core areas of actuarial practice.

Year in Industry:

  • Students can choose to take a year in industry, gaining practical experience and applying their technical knowledge in a real-world setting.
  • This option allows students to develop their professional skills and gain valuable work experience.

Modules:

  • Stage 1: Modules include Calculus, Algebra, Mathematical Methods, Discrete Mathematics, Analysis, Linear Algebra, Probability and Inference, Time Series Modelling, and Introduction to Actuarial Science.
  • Stage 2: Modules include Actuarial Mathematics, Statistics for Actuaries, Financial Mathematics, Economics for Actuaries, and Survival Models.
  • Stage 3: Modules include Advanced Actuarial Mathematics, Actuarial Modelling, Risk Management, and Actuarial Practice.

Assessment:

  • Modules are assessed through a combination of end-of-year examinations and coursework.
  • Some modules may involve practical sessions, presentations, and reports.

Teaching:

  • Teaching methods include lectures, example classes, practical sessions, and independent study.
  • The program is taught by qualified actuaries and internationally renowned statisticians.
  • Visiting actuaries from external organizations deliver special lectures, bridging the gap between theory and practice.
  • The program provides practical experience with PROPHET, a market-leading actuarial software package.

Careers:

  • The program prepares students for a wide range of careers in financial risk management, particularly in the financial services industry.
  • Graduates are eligible for exemptions from professional actuarial exams, giving them a head start in their careers.
  • Potential career paths include:
  • Actuary
  • Financial Analyst
  • Risk Manager
  • Data Scientist
  • Quantitative Analyst

Other:

  • Students benefit from free membership of the Kent Maths Society and Invicta Actuarial Society, providing networking opportunities and professional development.
  • The program offers a strong emphasis on practical applications, ensuring students are well-prepared for the demands of the actuarial profession.

UK £9,250 EU £18,600 International £18,600

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