Actuarial Science Course Details: Eligibility | Best Institutes | Job Prospects
Actuarial Science Course Details: B.Sc. Actuarial Science or Bachelor of Science in Actuarial Science is an undergraduate Actuarial Science course. Throughout the course, the most stress is given on the mathematical and applied mathematics, analysis of risk, and their applications to insurance and alternative business management issues. It resolves economic risks within the insurance and investment sector using mathematical and applied mathematics strategies. Bachelor of Science in estimator Science is a 3 years degree course however, its length might fluctuate from place to place. The info for the course is split into 6 semesters. The degree course is a very important and valuable one that opens several career scopes at the side of higher studies.
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Actuarial Science Course Areas of Application
- Insurance
- Banking
- Finance management
- Economics
- Governance
- Stock Exchange
GRADUATE COURSES
- B.Sc in Actuarial science
- BA (Hons.) in Insurance & Banking
- Bachelor of Science (B.Sc) in Actuarial and Financial Mathematics
POST GRADUATE COURSES
- Post Graduate Diploma in Actuarial Science
- M.Sc in Actuarial science
- Master’s program in Insurance Business
- MBA in Actuarial science
- Master of Science (M.Sc) in Statistics (Actuarial)
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Actuarial Science Course Details: Eligibility
1) Ought to have completed 18 years of age
2) Ought to have attained any one of the subsequent Educational Standards:
A) Passed 10+2 (H.S.C) or equivalent with a minimum of 85% in Mathematics or Statistics.
B) Graduate or Post Graduate with Mathematical subjects. For this purpose following subjects constitute Mathematical subjects;
- Mathematics or any of its branches
- Statistics or any of its sub-classifications like Mathematical Statistics and Applied Statistics
- Econometrics
- Computer Sciences
Any discipline of Engineering Subject in Science like Physics or its branches. The admission underneath these groups can, however, be subject to the following conditions: The total marks secured within the subjects coming back underneath the classification of Mathematical subjects taken along altogether the years of the degree course not but fifty-fifth. The content of Mathematical subjects content altogether the years of the course taken along isn’t but five-hundredths of the full content. this can be measured by the ratio that most marks assigned to Mathematical subjects altogether the years of the Course bear to the full maximum marks assigned to all or any subjects enclosed within the examination of the whole course excluding languages.
IMPORTANT: To become an actuary, Candidate has to qualify the Actuarial Science exam (ACET) that is conducted by the IAI and have 3 years of practical work experience.
Best Colleges for Actuarial Science in India
- Indian Institute of Management, Ahmedabad
- Indian School of Business, Hyderabad
- Amity School of Insurance and Actuarial Science, Noida
- NMIMS University, Mumbai
- Delhi University, New Delhi
- Aligarh Muslim University
- The National Insurance Academy, Pune
- The University of Pune
- Institute of Actuaries of India, Mumbai
- Christ University, Bengaluru
- Bishop Heber College, Tiruchirappalli
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Actuarial Science: Fees & Salary
- Course Fee: 50,000 – 3,00,000 INR
- Average Beginning Salary: 3,00,000 – 6,00,000 INR
Top Recruiting Companies:
- Max Bupa Insurance
- Bharati Shipyard Ltd.
- WNS
- Towers Watson
- PwC Actuarial Services India
- Mercer, etc.
B.Sc. Actuarial Science Syllabus
Syllabus of Actuarial Science as prescribed by various universities and colleges.
Semester – I
- Mathematics for Actuaries
- Descriptive Statistics
- Interest Rates and Annuities
- Basics of Accounting
Semester -II
- Business political economy I
- Probability and Distributions
- Advanced Applications of Annuities
- Corporate Finance
Semester – III
- Business political economies II
- Estimation and Hypotheses Testing
- Life Insurance: Principles, Products, Practices
- Communication and Research Methodologies
Semester – IV
- Stochastic Processes
- Survival Analysis
- Non-life Insurance: Principles, Products, Practices
- Excel, Macros With Visual Basic
Semester – V
- Risk Models for General Insurance
- Reserving and Time Series
- Business Environment and Enterprise Risk Management
- Actuarial Applications Using EXCEL
Semester – VI
- Life Insurance Valuation
- Reserving and Joint Life Distributions
- Portfolio Theory Development
- Derivative Valuation and Risk Management
Actuarial Science Course Details: Frequently Asked Questions (FAQs)
- How is B.Sc. Actuarial Science course beneficial?
The degree course is useful in the main in insurance sector however currently its importance has inflated in sectors like non-life insurance, worker advantages, insurance, quality management, insurance, insurance broking homes and consulting corporations similarly.
Other areas wherever worker advantages and retirement/pension schemes are handled, the candidates need to calculate the quantity of cash to be paid as a contribution to a pension fund to come up with an explicit financial gain level post-retirement. Thus this sector is incredibly useful for them.
Candidates people who wish to pursue their studies for a Master’s degree and so for analysis work can also choose the course; therefore it offers an honest base for additional studies.
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- What are some Actuarial Science course details regarding the employment of graduates?
- Colleges & Universities
- Investment Sector
- Actuarial Sciences
- Banking Sector
- Consulting Firms
- LICs
- Health Care Units
- Stock Exchanges
- What are some Actuarial Science course details regarding the job profile of graduates?
- Assistant Manager
- Team Lead/Assistant Team Manager
- Actuarial Analyst
- Audit Manager
- Credit Risk Manager
- Catastrophe Risk Analyst
- Business Intelligence Consultant
- Quality Assurance Associate
- Teacher & Academician