Actuarial Science (Foundation)

Program Overview

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Actuarial Science (Foundation)

Key information

• UCAS code: G320
• Duration: 4 years
• Attendance mode: Full-time
• Fees: £5,760 (more information)
• Location: Clerkenwell campus
• Start of programme: September 2025
• Application deadline: January 2025
• Entry year: Showing course information for 2025

Overview

Actuarial Science (Foundation) Who is it for?

You are a UK student who excels in and enjoys mathematics, especially modelling and probability. You love asking “What if?”.

The skills you gain on the Actuarial Science Foundation course will kickstart your actuarial career. You can also enter careers in risk management, investment management or financial analysis.

Course objectives

The Foundation Year in Actuarial Science aims to provide students with a knowledge of Mathematics, Probability and Statistics, Accounting and Finance, Economics, IT and Computing sufficient to enable them to undertake an undergraduate degree in the area of Actuarial Science.

These modules have been carefully designed to include material that they will come across should they successfully proceed onto the BSc Actuarial Science undergraduate degree programme.

In addition to providing students with the essential mathematical and scientific background necessary to progress onto the undergraduate Actuarial Science degree programme, there is an integrated study and communication skills component.

This, together with considerable tutorial support, aims to encourage the development of the students' awareness of the learning process, and to foster their intellectual development, so that they achieve a sense of their competence as learners.

Teaching staff

Dr David Smith

Senior Lecturer in Actuarial Science, Course Director Undergraduate

Course content

What will I learn?

The Foundation course has been designed to familiarise you with material that you will study in more depth in later years of the Actuarial Science degree programme.

The teaching style on the foundation course is different to that which you will encounter on the rest of the degree.

The foundation course will have lower numbers of students than on the main degree programme and there is more continual assessment. This will help you to make the adjustment from the teaching style at most schools and colleges to the university style, which usually requires more self-study.

Unlike the other years of your degree, there is no exam period due to the use of continual assessment which takes the form of in-class tests and take home coursework, which can be both individual and group based.

Course structure

Modules

Core modules:

• Mathematics

This will cover A-level maths and topics from A-level further maths. As you will have already studied A-level mathematics (or equivalent) we will focus more on the later topics such as calculus. The material in this module will prepare you for the first year Mathematics for Actuarial Science module.

• Foundation probability and statistics

The probability and statistics module will assume that students will arrive with no knowledge of probability or statistics. The module will start with basic concepts such as summary statistics and basic probability and will develop these concepts to more advanced topics such as confidence intervals, hypothesis testing, regression and probability distributions.

• Introduction to economics

This course will cover fundamental topics in both macro and micro economics. We will assume that you have not covered this material before and this module will help you prepare for the first year Economics module. This module will have an integrated study skills module which will develop your ability in such areas as note taking, essay planning, mind maps, etc. which will help both with this module and the rest of your studies and later employment.

• Introduction to finance and accounting

This module will introduce you to concepts such as interest rates, discounted cash-flows, different types of investments and company accounts. The material in this module will prepare you for the Finance and Investment Mathematics module in the first year and the Fundamentals of Finance and Financial Reporting modules in the second year. It will also provide real world skills for the analysis of companies and investments.

• Introduction to Microsoft Office Suite

This module is taught mainly on-line but supported with a weekly tutorial. Not only will this module prepare you for the Applications of Information Technology module in the first year and in addition will help with all your future studies where Microsoft Office products are used, as well as providing real life skills which will be attractive to employers.

• Career pathways

Upon completion of the foundation year you will be able to choose which degree pathway you want: BSc Actuarial Science, BSc Data Analytics and Actuarial Science or BSc Finance with Actuarial Science. The types of career pathways that these degrees lead to can be found on the relevant webpages.

Download course specification:

Actuarial Science (Foundation) [PDF]

Assessment methods

Some assessment is by coursework which you take home and complete with the aid of your notes. For year 0, there will be continual assessment using class tests but no large formal exams.

Percentage of the course assessed by coursework

The approximate percentage of the course assessment, based on 2023/24 entry is as follows:

Balance of assessments

Showing highlight precentaging of course examinatons and practial of each year of study

Year 0

17%

Practical

83%

Coursework

Assessment methods

• Course work
• Presentation

Overall workload

Most contact hours take the form of lectures. A number of tutorials, exercise classes and surgery hours are scheduled during the year. Approximate study time based on 2023/24 entry is as follows:

Foundation workload

Study type

28%

Scheduled learning

72%

Independent learning

Term dates

Academic year

For a full breakdown of the current and forthcoming academic year view our term dates page.

Study abroad

This is an option on the BSc Actuarial Science course, to which you can progress upon successful completion of the Foundation year.

Partner institutions include:

Asia and Australasia

• Australia
  • Queensland University of Technology
  • University of Queensland
  • RMIT University
• China
  • Renmin University of China
  • Shanghai Jiao Tong University
• Hong Kong
  • Chinese University of Hong Kong
  • University of Hong Kong
  • Hong Kong University of Science & Technology
• Singapore
  • National University of Singapore
  • Nanyang Technological University
  • Singapore Management University
• South Korea
  • Seoul National University
• Vietnam
  • RMIT Vietnam Campus

Europe

• Austria
  • Vienna University of Economics and Business
• Denmark
  • Copenhagen Business School
• France
  • ESCP Europe, Paris campus
  • ESSEC Business School
• Germany
  • Technische Universität München
  • University of Mannheim
• Italy
  • Bocconi University
  • LUISS Guido Carli
• Norway
  • BI Norwegian School of Management
• Spain
  • ESADE Business School
  • IE Business School
• The Netherlands
  • Rotterdam School of Management, Erasmus University

The Americas

• Argentina
  • Universidad Argentina de la Empresa
• Canada
  • HEC Montreal
  • Smith School of Business - Queen's University
  • Ivey Business School, Western University
  • Sauder School of Business, University of British Columbia
  • University of Waterloo
• Chile
  • Universidad de Chile
• USA
  • Emory University, Atlanta
  • Ross School of Business, University of Michigan
  • Robert H. Smith School of Business, University of Maryland
  • McCombs School of Business, University of Texas at Austin
  • McIntire School of Commerce, University of Virginia

Placements

This is an option on the BSc Actuarial Science course, to which you can progress upon completion of the Foundation year.

Careers

The majority of graduates of the BSc Actuarial Science degree, to which you can progress upon successful completion of the Foundation year, become actuarial trainees and study for the Institute and Faculty of Actuaries' examinations. Others embark on careers in:

• Investment banking and investment management
• Accountancy
• Commercial banking
• Insurance
• Financial analysis
• Management
• Computing and teaching.

Recent employers have included EY, Travellers Insurance and Towers Watson. Some students progress to postgraduate study, often on Bayes Business School's MSc Actuarial Management.

Fees & funding

UK/Home fee

September 2025 entry

£5,760

The Foundation Programme is for home fee paying students only.

Tuition fees are subject to annual change.

Tuition fee increases

The tuition fees indicated are for the 2025/26 academic year only. Fees for each subsequent year of study are subject to an annual increase to take account of our increased costs of delivering educational services.

This increase will be 5% for each subsequent year of study. You should expect your fee to increase by this amount and budget accordingly.

Scholarships & bursaries

View our scholarships and funding

Entry requirements

The Foundation Programme is for home fee paying students only. If you think you may still be eligible based on your circumstances, for example you have EU Settlement/Pre-Settlement Status, Indefinite Leave to Remain or Refugee Status, please email .

If you are an international student please refer to INTO for information about the International Foundation Programme.

Standard home offer

• A Level

B (Maths) BB

Minimum of grade 4 (C) in GCSE English Language

• International Baccalaureate (IB)

30 points

overall with minimum 5 in Higher Level Maths and either HL4 or SL 5 English.

UK qualifications

• A-Level: B (Maths) BB

We accept all foreign language A Level subjects, and such subjects are considered for entry even if it is the applicant’s native language.

If you are studying General Studies or Critical Thinking these subjects will not be included in any offer condition.

For A-Level applicants we also require a minimum of grade 4 (C) in GCSE English Language.

• IB: 30 points overall with 5 in Higher Level Maths (either Maths Analysis & Approaches or Maths Applications & Interpretation) and English at either Higher Level 4 or Standard Level 5.

English language requirements

• GCSE: Grade C or 4
• IGCSE: Grade C
• O-Level: Grade C
• TOEFL (Test centre or iBT Special Home Edition): 92 overall (24 Writing, 23 Reading, 22 Speaking, 21 Listening)
• A-Level: Grade C
• Language Cert International ESOL: Language Cert B2 Communicator High Pass
• IELTS (Academic, UKVI or IELTS Indicator): 6.5 overall with no less than 6.0 in any sub test
• IELTS One Skill Retake: Must be taken within 60 days of previous IELTS test. Accepted for one sub test where all other components and the overall score have been met
• Pearson Test of English (PTE) Academic: 59 overall with minimum of 59 in each sub test
• International Baccalaureate: Grade 5 at Standard level or Grade 4 at Higher level
• Cambridge English Advanced (also known as Certificate in Advanced English): Grade C (180 overall) at CEFR Level C1 with minimum 170 in each sub test
• Cambridge English Proficiency (also known as Certificate of Proficiency in English): Pass qualification (all grades accepted)
• Cambridge English First (also known as Certificate of First in English): Grade A (180-190) at CEFR Level C1
• Vitnemal: English grade 5
• French Baccalaureat: 14/20 in English
• Malaysian GCE O Level (SPM-1119 syllabus only): grade A

Student life

Study at Bayes and take advantage of all that London has to offer - from entertainment and nightlife to West End theatres, museums and world-famous shopping districts and markets.

See our Undergraduate Student Life page for further information.

• Accommodation
• Student support
• Living in London
• Language courses
• Have a question about student experience at Bayes?

Talk one-on-one with a student who is currently studying at Bayes.

Ask a student

Apply

All applications should be made through UCAS, the Universities and Colleges Admissions Service. Applications are made via Apply, UCAS's online application system.

Terms and conditions

Students applying to study at Bayes Business School are subject to City St George's, University of London's terms and conditions.

More information about applying to Bayes

Apply via UCAS

• UCAS Institution code: C60 (Bayes Business School and City St George's, University of London)
• UCAS Course code: G320

You can find more information at UCAS and in the UCAS Handbook.

Bayes Business School works in partnership with INTO and Kaplan International College London to offer foundation courses for international students.

Apply via UCAS | G320

Contact us

Speak to one of our staff from UG's programmes teams.

• UG enquiries
• Contact us
• UG open day

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