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Actuarial Management at Heriot-Watt University - UCAS

Course options

2023 - 2024
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There are other course options available which may have a different vacancy status or entry requirements – view the full list of options

Course summary

The MSc in Actuarial Management is fully accredited with the Institute and Faculty of Actuaries in the UK for subjects: CP1, CP2, CP3, SP2, SP4, SP5, SP6 and SP9. In addition, studying subject SP9 leads to the internationally recognised Certified Enterprise Risk Actuary (CERA) qualification. It is also possible to 'catch up' with some of the earlier subjects that you may have missed – such as CB1, CB2 or CM2. These subjects cover a variety of areas including life insurance, risk management, investment, derivatives, pensions, communication and modelling. You choose the best combination for you. Completing this degree gets you close to qualification as an actuary, with only one or two exams left to complete after leaving university. It typically speeds up your qualification by one or two years. Why choose Heriot-Watt University?

  • Heriot-Watt university was the first in the UK to offer a degree in actuarial science.
  • Each year we enable between 100 and 200 students to gain exemptions from actuarial subjects.
  • Heriot-Watt University is the only Centre of Actuarial Excellence (as recognised by the society of actuaries (SOA) – North America) in Europe.
Study in Edinburgh Edinburgh is a wonderful city close to the sea in Scotland in the United Kingdom. Heriot-Watt Edinburgh campus is established just to the west of the city in a beautiful green space. Transport links into the city centre are regular and travel by bus takes thirty minutes – and so you can choose the mix of city and campus life that you like best. Edinburgh is the financial heart of Scotland and many such companies are based there. It is also a centre of arts and culture, with the famous Edinburgh International Festival taking place in August each year. Your Actuarial Career Path An actuary is an expert in risk management and this is usually applied in the world of insurance. In order to qualify as an actuary in the UK a number of exams are completed with the Institute and Faculty of Actuaries (IFoA) in the UK. The first set of exams cover the mathematical material you need to know and have IFoA course codes: CB1, CB2, CM1, CM2, CS1 and CS2. These exams cover the subject areas: accounts, economics, financial/actuarial mathematics and applied statistics. Heriot-Watt University has a BSc in Actuarial Science and an MSc in Actuarial Science that are both fully accredited with the IFoA for these subjects. The MSc in Actuarial Science is a particularly quick way to obtain exemptions from these subjects as it takes only one year to complete. The second set of exams is much more about the application of the mathematics you have already learned in real life. This is in respect of subjects CP1, CP2, CP3, SP2, SP4, SP5, SP6 and SP9 with the IFoA and is covered by our MSc in Actuarial Management. We also have an alternative MSc in Actuarial Management with Data Science that covers these subjects but also develops your machine learning ability – something that is increasingly desirable in the modern world. It is possible to reduce your fees and move extremely rapidly along the actuarial path to qualification by taking our 2-year MSc in Actuarial Science and Management. This covers the CB1, CB2, CM1, CM2, CS1 and CS2 material in the first year and the CP1, CP2, CP3, SP2, SP4, SP5, SP6 and SP9 material (of which you choose a subset of subjects) in your second year. It is also possible to take the data science (machine learning) courses. Completing these exams leaves you with only 1 or 2 exams left to allow your qualification as a Fellow of the Institute and Faculty of Actuaries – and so as a professional actuary

Modules

Modules may include: lfe office management; pensions; investment and finance; derivatives; enterprise risk management.

Assessment method

Dissertation.

Professional bodies

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

  • Actuaries, Institute and Faculty of

Entry requirements

Entry requirements for individual programmes vary, please check the details for the specific programme you wish to apply for on our website.

English language requirements

Applicants whose native language is not English and who have not been educated previously in the English language must provide evidence of their English language ability to ensure they can cope with the demands of a Heriot-Watt programme taught and assessed in English. Further information about the English Language tests that we currently accept as proof of English Language ability including our own English Language programmes, can be viewed on our website.

HWU English Language Requirements

https://www.hw.ac.uk/study/entry/english-language-requirements.htm

Fees and funding

Tuition fees

No fee information has been provided for this course

Additional fee information

No additional fees or cost information has been supplied for this course, please contact the provider directly.
Actuarial Management at Heriot-Watt University - UCAS