Actuarial Sciences

MSc, 1 year, full-time

This is for you if... you want to study actuarial science at an advanced level.

Course Description

Do you enjoy solving problems? Do you enjoy analysing and interpreting large amounts of data and applying this analysis to real business situations? Could you communicate complex financial and risk models to people at a range of levels? A career as an actuary is a highly rewarding one – both financially and intellectually.

Actuaries are problem-solvers, business analysts, consultants and risk assessors, all rolled into one. With this degree under your belt, the skills you have learned could be applied to the worlds of insurance, pensions, healthcare, banking, business management and risk assessment. You will be equipped with mathematical and statistical knowledge and problem-solving skills to help businesses and institutions evaluate the long-term financial implications of the decisions they make.

You may already be employed as a trainee actuary within a firm, or be a recent graduate looking to get into the industry, it could be that a career change is your reason for studying this course. Whichever it is, an Actuarial Science degree from the University of Leicester will provide you with a head start within this lucrative career.

By concentrating on both technical expertise and transferable skills (such as communication and problem solving) this postgraduate degree will prepare you for direct entry into the profession and a successful career. You will leave Leicester equipped with the skills and knowledge to evaluate and interpret different forms of data, analyse risk and present your results to a professional audience, and with an understanding of how to apply this knowledge to real problems using the fundamental techniques required by an actuary.

Key Facts
Start date
September each year
Department
Mathematics
Contact

MSc Actuarial Science Admissions Team
+44 (0)116 252 3896
mathspg@le.ac.uk

Mathematics website

Why Leicester?

Mathematics at Leicester has a successful history of delivering quality actuarial education at both undergraduate and postgraduate level.

We enjoy links with the financial and actuarial industry, ensuring that this course has been developed with the needs of key employers in mind - which means that graduates from this course are highly employable.

We have more than 50 postgraduate research students, over 80 postgraduate taught students and in excess of 100 students studying by distance learning.

Course Structure

Semester 1

Semester 1

Core modules

  • Theory of Interest (CT1)
  • Statistics (CT3)
  • Models (CT4a)
  • Mortality (CT4b)

Optional extra module

  • Financial Mathematics (CT8a)

The modules on this course correlate with the eight-part Core Technical (CT) syllabus of the Institute and Faculty of Actuaries, as indicated. For exemption from all the IFoA exams, you should take all five modules.

Modules shown represent choices available to current students. The range of modules available and the content of any individual module may change in future years.

Semester 2

Semester 2

Core modules

  • Finance and Financial Reporting (CT2)
  • Further Statistics (CT6a)
  • Applied Statistics (CT6b)
  • Contingencies (CT5)

Optional extra module

  • Financial Engineering (CT8b)

The modules on this course correlate with the eight-part Core Technical (CT) syllabus of the Institute and Faculty of Actuaries, as indicated. For exemption from all the IFoA exams, you should take all five modules.

Modules shown represent choices available to current students. The range of modules available and the content of any individual module may change in future years.

Modules shown represent choices available to current students. The range of modules available and the content of any individual module may change in future years.

Summer

Summer

Option modules

Either: Business Economics (CT7) and Business Awareness and Critical Thinking

Or: Actuarial Sciences Research Project

The modules on this course correlate with the eight-part Core Technical (CT) syllabus of the Institute and Faculty of Actuaries, as indicated. For exemption from all the IFoA exams, you should take the two taught modules rather than the research project. 

Modules shown represent choices available to current students. The range of modules available and the content of any individual module may change in future years.

Additional Information

Our Actuarial Science degrees are accredited by the Institute and Faculty of Actuaries (IFoA). This MSc offers a fast track route to qualifying as an actuary. Obtaining a good overall mark across your modules can lead to exemptions from the IFoA CT1-8 exams.

What’s the difference?

For an MSc you will take four modules in Semester 1, four modules in Semester 2, and either two modules or a research project over the summer.

For the IFoA exemption, you will need to take all 12 available modules – requiring extra work. You must have strong mathematical aptitude, be prepared to work very hard and be confident that you can dedicate the extra time and effort required. Please discuss this with the Actuarial Science Admissions Team mathspg@le.ac.uk before applying.

Also please note that the extra two modules will not count towards the accreditation of your degree, and that each additional module incurs an additional fee.

Teaching and Assessment

Teaching methods include lectures, seminars, computer practicals, online learning resources and intensive workshops. Assessment is a mixture of coursework assignments, mini-projects, oral presentations and written exams.

Entry Requirements

At least a 2:1 in a relevant subject. This will usually be Maths, Statistics or Physics as you will need a solid background in maths including knowledge of calculus, linear algebra, ordinary differential equations, basics of probability and statistics. We will consider graduates from other subjects on an individual basis.

English Language Requirements

IELTS 6.0 or equivalent. If your first language is not English, you may need to provide evidence of your English language ability. If you do not yet meet our requirements, our English Language Teaching Unit (ELTU) offers a range of courses to help you to improve your English to the necessary standard.

International Qualifications

Find your country in this list to check equivalent qualifications, scholarships and additional requirements.

Countries list

Fees and Funding

  • Starting in September 2017
    • £9,730

    An additional fee of £400 is payable for each of the two optional modules should they be required.

    Find out more about scholarships and funding.

    Did you know you can apply for a Postgraduate Loan of up to £10,000, subject to eligibility?
  • Starting in September 2017
    • £18,250

    An additional fee of £400 is payable for each of the two optional modules should they be required.

    Find out more about scholarships and funding.

Career Opportunities

Careers

Our Career Development Service is here to support you, with advice on interviews, CVs, work experience, volunteering and more. From Freshers’ Week to Graduation and beyond, they are here to help you reach your professional goals.

Course Qualification Duration Start Dates Availability
Actuarial Sciences MSc 1 year full-time September each year Apply Now
Course
Actuarial Sciences
Qualification
MSc
Duration
1 year full-time
Start Dates
September each year
Availability