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City, University of London

Actuarial Science

UCAS Code: G322

Bachelor of Science (with Honours) - BSc (Hons)

Entry requirements


A level

A,A,A

Must include A Level Maths grade A. Excludes General Studies, Critical Thinking and native language subjects. Please note GCSE English Language grade 5/grade C or other English language proficiency qualification required (For more information on English qualifications please refer to http://www.city.ac.uk/study/undergraduate/applying-to-city/tier-4-english-language-requirements).

Access to HE Diploma

D:30,M:15

Please note this qualification is only accepted for entry onto this course whereby an applicant also holds A Level Maths grade A. Additionally GCSE English Language grade 5/grade C or other English language proficiency qualification required (For more information on English qualifications please refer to http://www.city.ac.uk/study/undergraduate/applying-to-city/tier-4-english-language-requirements).

Cambridge International Pre-U Certificate - Principal

D3,D3,D3

Must include Pre-U Maths grade D3 or above. Excludes General Studies, Critical Thinking and native language subjects. Additionally GCSE English Language grade 5/grade C or other English language proficiency qualification required (For more information on English qualifications please refer to http://www.city.ac.uk/study/undergraduate/applying-to-city/tier-4-english-language-requirements).

International Baccalaureate Diploma Programme

35

Must include Higher Level Maths grade 6 or above. Please note the IB total can include up to 3 bonus/core points and must include a minimum grade 5 in all other subjects. English is required at Standard or Higher level, or other English language proficiency qualification required (For more information on English qualifications please refer to http://www.city.ac.uk/study/undergraduate/applying-to-city/tier-4-english-language-requirements).

Pearson BTEC Level 3 National Extended Diploma (first teaching from September 2016)

DDD

Please note this qualification is only accepted for entry onto this course whereby an applicant also holds A Level Maths grade A. Additionally GCSE English Language grade 5/grade C or other English language proficiency qualification required (For more information on English qualifications please refer to http://www.city.ac.uk/study/undergraduate/applying-to-city/tier-4-english-language-requirements).

Scottish Higher

A,A,A,A,A

Must include Maths grade A at Advanced Higher Level. Please note this should include a minimum three subjects at Advanced Higher (grades AAA) and a minimum two other subjects at Higher (grades AA). Additionally English at either level or other English language proficiency qualification required (For more information on English qualifications please refer to http://www.city.ac.uk/study/undergraduate/applying-to-city/tier-4-english-language-requirements).

UCAS Tariff

144-165

We've calculated how many Ucas points you'll need for this course.

About this course


Course option

3.0years

Full-time | 2020

Subject

Actuarial science

The BSc (Hons) Actuarial Science degree is delivered by Cass Business School, one of Europe’s leading business schools. Part of City, University of London, Sir John Cass Business School is ranked amongst the top 5 business schools in the UK (FT European Business School Rankings 2018).
As England’s longest established Actuarial Science degree, this course offers students a sound education in actuarial and financial studies, mathematics and statistics. You will gain highly prized financial risk management skills.

Actuarial science involves the application of quantitative skills to problems in finance that normally involve risk or uncertainty. If you enjoy mathematics, statistics, probability and economics you will find this course ideal. For the duration of your degree, you’ll delve deeper into these course subjects, as well as stochastic models, finance and financial reporting, business and, naturally, actuarial science itself. You’ll also produce a self-researched final-year project on an area that interests and reflects your ambitions.

The degree provides students with the skills to start their actuarial career, with the added flexibility of allowing students to alternatively use these skills to enter risk management, investment management or financial analysis upon graduation. This degree can provide exemptions from subjects CM1, CM2, CS1, CS2, CB1, CB2 and CB3 of the Institute and Faculty of Actuaries’ examinations.

In each year of your degree, you will study a core set of modules that will allow you to focus on actuarial science, alongside modules that will broaden your studies into other areas of economics and business. In fact, the Actuarial Science degree at Cass contains more credits than the majority of all other actuarial science degrees in the UK. By studying for 450 credits rather than the standard 360 credits during your degree, you are able to obtain in depth understanding in specialisms such as business management, real estate finance, financial derivatives and extreme value theory.

Many of our lecturers are qualified actuaries and have worked in industry and continue to consult for corporate organisations, so you will benefit from their first-hand knowledge and business experience. As we place a high value on teaching both theory and application, you will emerge from your degree with a good understanding of how to use your newly acquired knowledge in the workplace, whether this concerns a career as an actuary or an alternative direction (such as, for example, risk manager).

A key part of this degree is the opportunity to gain professional work experience or a period of study abroad. All first year Actuarial Science students are eligible to apply for the Micro-Placements Programme which offers you the opportunity to apply for a 3-5 week summer placement, exposing you to a real-life business environment at a London-based employer.

Students are also eligible to apply for a one-year paid work placement during the third year of a four-year sandwich degree course. Cass students enjoy a wide range of opportunities in business areas such as insurance and risk management, actuarial investment pricing and capital management. Recent placements include: the Association of British Insurers, Aviva/Friends Life, Prudential and Legal & General.
Students can alternatively apply to spend one year studying abroad during the third year of a four-year sandwich degree course. Students can apply to study at a business school at one of our prestigious partner universities, including the University of Waterloo, Canada; and the Chinese University of Hong Kong. Studying abroad enables students to expand their international network of contacts, develop a wider perspective in the world of actuarial science and enhance their career prospects.

Modules

Year 1 core modules:
- Mathematics for Actuarial
- Probability and Statistics 1
- Finance and Investment Mathematics
- Introduction to Economics
- Applications of Information Technology
- Introduction to Actuarial Methods
- Careers

Year 2 core modules:
- Calculus and Linear Algebra (Mathematics 2)
- Contingencies
- Probability and Statistics 2
- Stochastic Modelling
- Actuarial Practicality
- Fundamentals of Finance
- Financial Reporting
- Financial Economics (elective module)

Year 3 core modules:
- Survival Models
- Advanced Contingencies
- Statistical Modelling
- Probabilistic Modelling
- Advanced Financial Economics (elective module)
- Final Year Project

Assessment methods

You will be assessed using a variety of methods, depending on module choices including: - Coursework - Unseen written examinations, taking place at the end of each term (or at the end of a year, if a module is taught over two terms) - Class tests - Online quizzes and tests, using the Virtual Learning Environment - Presentation - Group projects and individual projects.

The balance of assessment by examination, practical examination and assessment by coursework will to some extent depend on the optional modules you choose. The approximate percentage of the course assessment, based on 2017/18 entry is as follows:

Year 1
67% written, 4% practical, 29% coursework

Year 2
73% written, 27% coursework

Year 3
67% written, 2% practical, 31% coursework.

The Uni


Course location:

City, University of London

Department:

Cass Business School

TEF rating:
Read full university profile

What students say


We've crunched the numbers to see if overall student satisfaction here is high, medium or low compared to students studying this subject(s) at other universities.

82%
med
Actuarial science

How do students rate their degree experience?

The stats below relate to the general subject area/s at this university, not this specific course. We show this where there isn’t enough data about the course, or where this is the most detailed info available to us.

Finance

Teaching and learning

80%
Staff make the subject interesting
92%
Staff are good at explaining things
86%
Ideas and concepts are explored in-depth
81%
Opportunities to apply what I've learned

Assessment and feedback

Feedback on work has been timely
Feedback on work has been helpful
Staff are contactable when needed
Good advice available when making study choices

Resources and organisation

93%
Library resources
92%
IT resources
93%
Course specific equipment and facilities
86%
Course is well organised and has run smoothly

Student voice

Staff value students' opinions

Who studies this subject and how do they get on?

35%
UK students
65%
International students
57%
Male students
43%
Female students
72%
2:1 or above
14%
Drop out rate

After graduation


The stats in this section relate to the general subject area/s at this university – not this specific course. We show this where there isn't enough data about the course, or where this is the most detailed info available to us.

Finance

What are graduates doing after six months?

This is what graduates told us they were doing (and earning), shortly after completing their course. We've crunched the numbers to show you if these immediate prospects are high, medium or low, compared to those studying this subject/s at other universities.

£28,000
high
Average annual salary
93%
low
Employed or in further education
37%
med
Employed in a role where degree was essential or beneficial

Top job areas of graduates

40%
Business, research and administrative professionals
31%
Business, finance and related associate professionals
8%
Administrative occupations: finance

Over 2,000 students graduated with a degree in finance in 2015, and a sign of the strength of the finance industry, numbers are on the up. Over half of finance graduates go into the finance industry, with accountancy and financial advice roles particularly popular. It's also quite common for finance graduates to go into jobs which require you to take more training and gain professional qualifications — finance graduates who take further study are more likely to be studying accountancy than finance. About a third of graduates start their careers in London - but Glasgow, Manchester and Birmingham are other popular locations for finance graduates to work.

What about your long term prospects?

Looking further ahead, below is a rough guide for what graduates went on to earn.

Actuarial science

The graph shows median earnings of graduates who achieved a degree in this subject area one, three and five years after graduating from here.

£27k

£27k

£35k

£35k

£43k

£43k

Note: this data only looks at employees (and not those who are self-employed or also studying) and covers a broad sample of graduates and the various paths they've taken, which might not always be a direct result of their degree.

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Course location and department:

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Teaching Excellence Framework (TEF):

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This information comes from the National Student Survey, an annual student survey of final-year students. You can use this to see how satisfied students studying this subject area at this university, are (not the individual course).

We calculate a mean rating of all responses to indicate whether this is high, medium or low compared to the same subject area at other universities.

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This information is from the Higher Education Statistics Agency (HESA).

You can use this to get an idea of who you might share a lecture with and how they progressed in this subject, here. It's also worth comparing typical A-level subjects and grades students achieved with the current course entry requirements; similarities or differences here could indicate how flexible (or not) a university might be.

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Post-six month graduation stats:

This is from the Destinations of Leavers from Higher Education Survey, based on responses from graduates who studied the same subject area here.

It offers a snapshot of what grads went on to do six months later, what they were earning on average, and whether they felt their degree helped them obtain a 'graduate role'. We calculate a mean rating to indicate if this is high, medium or low compared to other universities.

Have a question about this info? Learn more here

Graduate field commentary:

The Higher Education Careers Services Unit have provided some further context for all graduates in this subject area, including details that numbers alone might not show

Have a question about this info? Learn more here

The Longitudinal Educational Outcomes dataset combines HRMC earnings data with student records from the Higher Education Statistics Agency.

While there are lots of factors at play when it comes to your future earnings, use this as a rough timeline of what graduates in this subject area were earning on average one, three and five years later. Can you see a steady increase in salary, or did grads need some experience under their belt before seeing a nice bump up in their pay packet?

Have a question about this info? Learn more here