City, University of London

Degree level: Undergraduate

Actuarial Science

Make sure you check on the university, college or conservatoire website for any updates about course changes as a result of COVID-19.

Course summary

The BSc (Hons) Actuarial Science degree is delivered by Bayes Business School (formerly Cass), one of Europe’s leading business schools. Part of City, University of London, Bayes is ranked amongst the top 6 business schools in the UK*. 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 develop your ability to make reasoned judgements, frame appropriate questions and draw independent conclusions and 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, such as insurance. 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 and CB2 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 Bayes 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). Ethics are an essential and unavoidable aspect of an actuary’s career and the ethical aspects of risk management are considered throughout the course. We are committed to developing responsible and socially aware actuaries, as many of the decisions that you will make in your career will affect numerous stakeholders all of whose views and situations must be taken into account. A key part of this degree is the opportunity to gain professional work experience or a period of study abroad. Students are eligible to apply for a one-year paid work placement during the third year of a four-year sandwich degree course. 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. *Financial Times European Business School Ranking 2021

Course details

Modules

Year one In the first year, students study eight core modules that provide the foundations for later study, including a mathematics module and introductory courses in financial mathematics, economics, probability and statistics and IT. These modules assume no prior knowledge of the respective subjects beyond those guaranteed by meeting the entry requirements.There are no electives in the first year. Core modules:

  • Mathematics for Actuarial Science
  • Probability and Statistics 1
  • Finance and Investment Mathematics
  • Introduction to Economics
  • Introduction to Actuarial Methods
  • Introduction to Excel and Statistical Packages
  • Introduction to VBA for Excel
  • Career planning
Year two In year two, the focus moves from mathematics to actuarial science, statistics and probability. Elective modules allow students to gain some of the exemptions from the Institute and Faculty of Actuaries, professional examination while others explore topics in finance and data analytics. Core modules:
  • Alternative Investment Management
  • Corporate Risk Management
  • Decision Analysis
  • Derivatives, Trading & Hedging
  • Risk Analysis and Modelling
  • Finance and Financial Reporting
Year three In the final year, four taught core modules allow students to develop an in-depth understanding of actuarial and statistical subjects, while a wide range of electives cover actuarial science, statistics, business and economics. Students also undertake a final-year project in an area relevant to their interests and ambitions. Core modules:
  • Final-year project
  • Probabilistic modelling
  • Statistical modelling
  • Survival models
Elective modules:
  • Advanced Financial Economics
  • Extreme Event Statistics
  • Operational Research
  • Investment
  • General Insurance
  • Pension and Other Benefits
  • Fixed Income Portfolio Management
  • Asset-Liability Management
  • Technical Analysis
  • Real Estate Finance and Funding
  • Advanced Econometrics and forecasting
  • Statistical Reasoning, Communication & Ethics
Modules are subject to change.

Assessment method

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, individual projects.
  • Percentage of the course assessed by coursework
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,is as follows: Year 1 67% written, 4% practical, 29% coursework Year 2 73% written, 27% coursework Year 3 65% written, 2% practical, 33% coursework.

Professional bodies

Professionally accredited courses provide industry-wide recognition of the quality of your qualification.

  • Actuaries, Institute and Faculty of

How to apply

Application codes

Course code:
G322
Institution code:
C60
Campus name:
Main Site
Campus code:
-

Points of entry

The following entry points are available for this course:

  • Year 1

Entry requirements

Qualification requirements

Please click the following link to find out more about qualification requirements for this course

https://www.bayes.city.ac.uk/study/undergraduate/courses/actuarial-science


Unistats information

Operated by the Office for Students
79%
Student satisfaction
60%
Employment after 15 months (Most common jobs)
80%
Go onto work and study

The student satisfaction data is from students surveyed during the Covid-19 pandemic. The number of student respondents and response rates can be important in interpreting the data – it is important to note your experience may be different from theirs. This data will be based on the subject area rather than the specific course. Read more about this data on the Discover Uni website.

Fees and funding

Tuition fees

England £9250 Year 1
Northern Ireland £9250 Year 1
Scotland £9250 Year 1
Wales £9250 Year 1
EU £19500 Year 1
International £19500 Year 1

Additional fee information

No additional fees or cost information has been supplied for this course, please contact the provider directly.

Sponsorship information

As a global institution, Bayes Business School aims to foster greater racial diversity in business. Therefore Bayes has launched a new scholarship for undergraduate black British students. We are offering ten scholarships for Black UK-domiciled undergraduate students from lower than average income households. Each scholarship covers the full tuition fee (at home-fee level) and a £6,000 annual stipend for three years. Scholarship holders will also be offered mentoring and support. The Bayes International Scholarship is awarded to students who achieve exceptional grades. The scholarship will be awarded as a discount in the fee amount due in the first year of their study only. City, University of London also offers scholarships for UK students who achieve exceptional grades. The scholarship will likely be awarded as a discount in the fee amount due in the first year of their study only. Please visit www.bayes.city.ac.uk/study/undergraduate/application-and-funding/scholarships for further information about scholarships including eligibility criteria. Eligibility criteria for students starting their studies in September 2023 will be updated in September 2022. Conditions are subject to annual change.

Actuarial Science at City, University of London - UCAS