Interested in MSc Actuarial Science or MSc Actuarial Management but unsure which is the best fit for you? Read on, as we focus on our MSc actuarial degrees at Cass Business School…

Why choose MSc Actuarial Science/MSc Actuarial Management at Cass Business School?

The MSc Actuarial Science and MSc Actuarial Management courses are accredited by the UK Institute and Faculty of Actuaries – http://www.actuaries.org.uk/. Cass Business School was the first institution in the UK to have both undergraduate and postgraduate actuarial programmes fully accredited and is also recognised by other actuarial professional bodies around the world.

The programmes are delivered via face-to-face lectures from qualified actuaries, academics and other subject-specialists, complemented by dedicated online support, easy access to faculty members, and advice on study and exam techniques. Lecturers use their commercial experience and research expertise to deliver a challenging, relevant and intellectually stimulating course.

What employment opportunities are there?

Actuaries are experts in risk management. They use their mathematical skills to help measure the probability and risk of future events. There is a continuous demand for capable postgraduate level executives in the actuarial profession, whose members are among the highest paid in the UK. They work in fields such as insurance (life/non-life departments), consulting, government departments, banks and investment firms, teaching and research.

Who will my classmates be?

Most students on MSc Actuarial Science/MSc Actuarial Management programmes come from quantitative backgrounds. Although work experience is not a compulsory entry requirement, most students completed at least a few summer internships or trainee placements. The average age is 23 for Actuarial Science and 26 for Actuarial Management, and the female to male ratio is typically 40:60. As with all of our MSc courses, the nationality mix is very diverse, with around 75% being international students, 9% students from the EU, and the remainder from the UK. 23 nationalities were represented on the actuarial courses last intake.

Who will be teaching me?

The teaching staff on the MSc in Actuarial Science/ MSc Actuarial Management have many years of practical experience working in the financial services sector and are also active researchers in their fields. This knowledge and experience inform the highly interactive lectures.

 

Frequently Asked Questions

What is the difference between MSc Actuarial Science and MSc Actuarial Management?

 MSc Actuarial Science programme is geared towards individuals with highly quantitative background who wish to enter the actuarial profession. The MSc in Actuarial Science offers students a firm grounding in the fundamentals of actuarial science, including detailed study of the mathematical and statistical techniques used in the insurance, pensions, and financial services industries. The programme offers exemptions from the first level of the professional actuarial exams – Core Technical subjects CT1 – CT8.

MSc Actuarial Management offers exemptions from second and third level of the professional actuarial exams Core Applications CA subjects – CA1 (divided into two terms – part 1 and part 2), CA3 (eligible for exemption if completing Research project and executive summary and presentation to the panel is required) and Specialist technical ST subjects – ST1, 2, 4, 5, 6, 7, 8.

 What are the entry requirements for MSc Actuarial Science?

 A good Bachelor’s degree in a highly quantitative programme such as mathematics or statistics is required to enter this course, a UK 2.1 or above or the equivalent from an overseas institution.

Well balanced IELTS – 7.0 overall, 6.5 writing and 6.0 in all other sections.

What are the entry requirements for MSc Actuarial Management?

 A UK 2.1 or above and/or a Master’s Degree/Postgraduate Diploma (from a UK university or overseas equivalent) in a related subject and already covered the fundamentals of actuarial science at university degree or professional level.

Applicants are required to have passed and/or as a result of previous studies, be exempted from a minimum of FIVE of the Core Technical (CT) examinations of the UK Actuarial Profession (with the exception of CT9).*

*Exceptions to these requirements can be made by the admissions office on a case-by-case basis. This usually applies to applicants with four CTs but who have been working as actuaries/actuarial trainees for several years.

Well balanced IELTS – 7.0 overall, 6.5 writing and 6.0 in all other sections.

I am not a member of the UK Institute and Faculty of Actuaries, but I have achieved actuarial exams/exemptions via overseas actuarial professional body (e.g. Society of Actuaries) and/or other professional qualifications (e.g. CFA) – would you consider my actuarial exams/exemptions?

 The admissions panel will consider professional and overseas qualifications approved and recognised by the UK Institute and Faculty of Actuaries. More details can be found at http://www.actuaries.org.uk/studying/exam-exemptions.

What mark is required to be recommended for exemption/s from the actuarial modules that I completed on MSc Actuarial Science or MSc Actuarial Management?

 In essence, 65% is required to be recommended for CT exemptions and 60% for CA and ST exemptions. Please note, this is subject to change and regularly revised by the Institute. Exact conditions are confirmed at the beginning of the programme.

Should I choose to write the Business Research Project or take the five electives in Term 3?

The electives are a good way of either narrowing down your field of interest within the industry, or of broadening your knowledge to include other areas. The Business Research Project allows students to develop skills that are very useful for their career, such as writing reports and articles, collecting data and resources, conducting empirical research and communicating the results.

Students choose whether to take the Business Research Project or electives in their second term at Cass.

MSc Actuarial Management students who choose to take the Business Research Project may also opt for CA3 exemption.

Are there any scholarships available for actuarial students?

A number of scholarships is offered by Cass Business School and its donors. The criteria are often based on the course of study, merit, financial need and/or country of citizenship of the applicant. Please see our scholarships webpage for further details on the awards on offer.

 

For more information about applying for our Actuarial MSc degrees, please contact Hugh Fairclough – Hugh.Fairclough.1@city.ac.uk

Last updated 31 January 2017.