University of Kent

BSc (Hons) Actuarial Science

Stage 1

Compulsory modules currently include the following

• Principles of Probability and Statistics
• Applications and Practice with R Python
• Linear Algebra
• Business Economics
• Financial Mathematics
• Calculus

Stage 2

Compulsory modules currently include the following

• Predictive and Explanatory Modelling in Context
• Optimisation for Data Analysis
• Mathematical Statistics
• Stage 2 Actuarial Practice
• Actuarial Mathematics 1
• Corporate Finance and Financial Reporting

Year in Industry

You have the option to add a year in industry to this course. We already know you have the confidence and commitment to thrive in the workplace and kick-start your career. This is your chance to prove it, to yourself and to employers.

Stage 3

Compulsory Modules currently include the following

• Machine Learning and Deep Learning
• Financial Economics and Derivatives
• Actuarial Mathematics 2
• Actuarial Risk Modelling
• Stage 3 Actuarial Practice
• Statistical Modelling for Actuaries

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 the 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 six exemptions from examinations of the Institute and Faculty of Actuaries.

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:

• a reasonable understanding of the programme's main body of knowledge
• skills in calculation and manipulation of the material in the programme
• the ability to apply a range of concepts and principles in various contexts
• how to present a logical argument
• solving 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 about qualitative and quantitative information
• written and oral communication skills
• numeracy and computation
• information retrieval, about 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 engage in teamwork
• time management and organisation, and the ability to plan and implement efficient and effective modes of working
• study skills required for continuing professional development.

Our Actuarial Science programme gives you exemptions from the professional exams set by the UK actuarial profession, so you'll have a head start when looking to qualify as an actuary. You can achieve exemptions from six of the thirteen professional examinations required to become a qualified actuary: CB1, CB2, CM1, CM2, CS1 and CS2.

You could then continue your studies with our MSc Applied Actuarial Science to also achieve exemptions in CP1, CP2, CP3, and two SP subjects.

You may also want to consider our 2-year International Master's in Applied Actuarial Science, where you can achieve exemptions from CB1, CB2, CM1, CM2, CS1, CS2, CP1, CP2, CP3, and two SP subjects.

How you'll study

• Lectures
• Seminars
• Tutorials
• Independent Study
• Group Work

Teaching and assessment

A variety of delivery methods will be used to deliver accessible teaching, supplemented by example classes, workshops and practical exercises. Computer laboratory sessions will focus on developing and applying information technology skills through hands-on exercises.

Information technology skills are developed through the course, including MS Excel, R, Python and PROPHET, the specialist actuarial software used widely in industry, adding value to students’ employability credentials.

Course lecturers and guest speakers include those with significant industry experience, and experience of working with industry on research and commercial innovation. This practical knowledge and network supports students’ development.