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Actuaries evaluate and manage financial risks, particularly in the financial services industry. If you are good at mathematics, enjoy problem-solving and are interested in financial matters, you should enjoy studying actuarial science. On this course you also spend a year in industry, putting your academic skills into practice.
Overview
Kent’s specialist degree in Actuarial Science is recognised by the actuarial profession and is taught by professionally qualified and experienced actuaries, giving you the necessary foundation for a rewarding and stimulating career. You study in a brand-new building, providing a modern study environment.
Our degree programme
The BSc (Hons) Actuarial Science at Kent is one of the few programmes available to achieve full accreditation from the UK actuarial profession and provides the first step towards qualifying as an actuary.
As well as developing a core understanding of mathematical and financial concepts and statistical methods, you can gain exemption from eight of the Core Technical subjects (CT1 to CT8) of the professional examinations of the Institute and Faculty of Actuaries.
The programme also provides a good foundation for the later Core Technical subjects. By obtaining the full set of exemptions available during your degree, you could considerably reduce the time it takes you to qualify as an actuary.
In addition to lectures and examples classes, you gain practical experience of working with PROPHET, the market-leading actuarial software package used by commercial companies worldwide for profit testing, valuation and model office work. There are also regular supervised classes, where you can get help and advice on the way you approach problems.
Year in industry
You spend a year working in industry between Stages 2 and 3. We can offer help and advice in finding a placement. This greatly enhances your CV and gives you the opportunity to apply your academic skills in a practical context. It also gives you an idea of your career options. Recent placements have included IBM, management consultancies, government departments, actuarial firms and banks.
This degree is also available as a three-year course without a year in industry. For more details, see Actuarial Science.
Foundation year
If your grades do not qualify you for direct entry to this programme, you may be able to take a degree with a foundation year. For more details see Actuarial Science with a Foundation Year.
Extra activities
Kent is home to the Invicta Actuarial Society. Run by students and staff, it encourages valuable contact with industry professionals. In previous years the Society has organised:
- open lectures
- discussions
- socials and networking events.
You may want to join Kent Maths Society, which is run by students and holds talks, workshops and social activities.
The School of Mathematics, Statistics and Actuarial Science puts on regular events that you are welcome to attend. These may include:
- seminars and workshops
- employability events.
Independent rankings
Mathematics at Kent was ranked 19th for course satisfaction in The Guardian University Guide 2017.
For graduate prospects, Mathematics was ranked 19th in The Complete University Guide 2017. Of Mathematics and Statistics students who graduated from Kent in 2015, 92% were in work or further study within six months (DLHE).
Course structure
The following modules are indicative of those offered on this programme. This listing is based on the current curriculum and may change year to year in response to new curriculum developments and innovation.
On most programmes, you study a combination of compulsory and optional modules. You may also be able to take ‘wild’ modules from other programmes so you can customise your programme and explore other subjects that interest you.
Year in industry
You spend a year working in industry between Stages 2 and 3. We can offer help and advice in finding a placement. This greatly enhances your CV and gives you the opportunity to apply your academic skills in a practical context. It also gives you an idea of your career
options. Recent placements have included IBM, management consultancies, government departments, actuarial firms and banks.
Teaching and assessment
Most of the teaching is by lectures and examples classes. At Stage 1, you can go to regular supervised classes where you can get help and advice on the way you approach problems. Modules that include programming or working with computer software packages usually involve practical sessions.
Each year, there are a number of special lectures by visiting actuaries from external organisations, to which all students are invited. These lectures help to bridge the gap between actuarial theory and its practical applications.
The course provides practical experience of working with PROPHET, a market-leading actuarial software package used by commercial companies worldwide for profit testing, valuation and model office work.
Modules are assessed by end-of-year examinations, or by a combination of coursework and examinations.
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 of the links between the theory and its practical application in 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 eight exemptions from examinations of the Institute and Faculty of Actuaries.
In addition, the Year in Industry enables students to gain awareness of the application of technical concepts in the workplace.
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
- aspects of the core subject areas from the perspective of a commercial or industrial organisation.
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 written in the programme
- the ability to apply a range of concepts and principles in various contexts
- how to present a logical argument
- to solve problems by various appropriate methods
- IT skills
- research, presentation and report-writing skills
- the ability to work with relatively little guidance
- the intellectual skills required in the context of a commercial or industrial organisation.
Subject-specific skills
You gain actuarial-science skills in the following:
- mathematical and statistical techniques, and their application to solving actuarial problems
- use of industry-specific IT and software skills
- 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 interpret and communicate the results
- the application of subject-specific skills specified for the programme from the perspective of a commercial or industrial organisation.
Transferable skills
You gain transferable skills in the following:
- problem-solving skills in relation to qualitative and quantitative information
- written and oral communication
- numeracy and computation
- information retrieval in relation to 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 to engage in team-working
- time-management and organisation and the ability to plan and implement efficient and effective modes of working
- study skills needed for continuing professional development.
Careers
Graduate destinations
The Actuarial Science programme allows you to gain exemptions from the professional examinations set by the UK actuarial profession, so our graduates have a head start when looking to qualify as actuaries. It also provides an excellent foundation for careers in many other areas of finance and risk.
Recent graduates have gone on to work in:
- insurance companies and consultancy practices
- the Government Actuary’s Department
- the London Stock Exchange
- other areas of financial management.
Help finding a job
The University has a friendly Careers and Employability Service, which can give you advice on how to:
- apply for jobs
- write a good CV
- perform well in interviews.
Career-enhancing skills
You graduate with an excellent grounding in the fundamental concepts and principles of actuarial science, together with practical experience in the use of industry-standard actuarial software.
To help you appeal to employers, you also learn key transferable skills that are essential for all graduates. These include the ability to:
- think critically
- communicate your ideas and opinions
- manage your time effectively
- work independently or as part of a team.
You can also gain extra skills by signing up for one of our Kent Extra activities, such as learning a language or volunteering.
Professional recognition
Our degree can give exemption from the core technical subjects (CT1 to CT8) of the professional examinations set by the UK actuarial profession, and gives a firm foundation for the later specialist technical subjects. Graduates may also get exemption from some of the examinations set by the Chartered Insurance Institute.
Independent rankings
Mathematics at Kent was ranked 19th in the UK for graduate prospects in The Complete University Guide 2017. Of Mathematics and Statistics students who graduated from Kent in 2015, 92% were in work or further study within six months (DLHE).
According to Which? University (2017), the average starting salary for graduates of this degree is ‘high’ at £23,000.
Studying actuarial science gave me a strong foundation in the concepts of the profession, which set me apart from other candidates.
Vikram Joshi Actuarial Science BSc
Entry requirements
Home/EU students
The University will consider applications from students offering a wide range of qualifications. Students offering alternative qualifications should contact us for further advice.
It is not possible to offer places to all students who meet this typical offer/minimum requirement.
New GCSE grades
If you’ve taken exams under the new GCSE grading system, please see our conversion table to convert your GCSE grades.
| Qualification | Typical offer/minimum requirement |
|---|---|
| A level | AAA including Mathematics grade A, including the core syllabus of Pure Mathematics (Use of Mathematics is not accepted). Either General Studies or Critical Thinking may be accepted (but not both). |
| Access to HE Diploma | The University will not necessarily make conditional offers to all Access candidates but will continue to assess them on an individual basis. If we make you an offer, you will need to obtain/pass the overall Access to Higher Education Diploma and may also be required to obtain a proportion of the total level 3 credits and/or credits in particular subjects at merit grade or above |
| BTEC Level 3 Extended Diploma (formerly BTEC National Diploma) | The University will consider applicants holding BTEC National Diploma and Extended National Diploma Qualifications (QCF; NQF; OCR) on a case-by-case basis. Please contact us for further advice on your individual circumstances. |
| International Baccalaureate | 34 points overall or 17 points at HL including Mathematics 6 at HL |
International students
The University welcomes applications from international students. Our international recruitment team can guide you on entry requirements. See our International Student website for further information about entry requirements for your country.
If you need to increase your level of qualification ready for undergraduate study, we offer a number of International Foundation Programmes.
Meet our staff in your country
For more advise about applying to Kent, you can meet our staff at a range of international events.
English Language Requirements
Please see our English language entry requirements web page.
Please note that if you are required to meet an English language condition, we offer a number of 'pre-sessional' courses in English for Academic Purposes. You attend these courses before starting your degree programme.
General entry requirements
Please also see our general entry requirements.
Fees
The 2017/18 tuition fees for this programme are:
| UK/EU | Overseas | |
|---|---|---|
| Full-time |
For details of when and how to pay fees and charges, please see our Student Finance Guide.
UK/EU fee paying students
The Government has announced changes to allow undergraduate tuition fees to rise in line with inflation from 2017/18.
In accordance with changes announced by the UK Government, we are increasing our 2017/18 regulated full-time tuition fees for new and returning UK/EU fee paying undergraduates from £9,000 to £9,250. The equivalent part-time fees for these courses will also rise from £4,500 to £4,625. This was subject to us satisfying the Government's Teaching Excellence Framework and the access regulator's requirements. This fee will ensure the continued provision of high-quality education.
For students continuing on this programme, fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.*
The University will assess your fee status as part of the application process. If you are uncertain about your fee status you may wish to seek advice from UKCISA before applying.
Fees for Year Abroad/Industry
As a guide only, UK/EU/International students on an approved year abroad for the full 2017/18 academic year pay an annual fee of £1,350 to Kent for that year. Students studying abroad for less than one academic year will pay full fees according to their fee status.
Please note that for 2017/18 entrants the University will increase the standard year in industry fee for home/EU/international students to £1,350.
General additional costs
Find out more about accommodation and living costs, plus general additional costs that you may pay when studying at Kent.
Funding
University funding
Kent offers generous financial support schemes to assist eligible undergraduate students during their studies. See our funding page for more details.
Government funding
You may be eligible for government finance to help pay for the costs of studying. See the Government's student finance website.
The Government has confirmed that EU students applying for university places in the 2017 to 2018 academic year will still have access to student funding support for the duration of their course.
Scholarships
General scholarships
Scholarships are available for excellence in academic performance, sport and music and are awarded on merit. For further information on the range of awards available and to make an application see our scholarships website.
The Kent Scholarship for Academic Excellence
At Kent we recognise, encourage and reward excellence. We have created the Kent Scholarship for Academic Excellence. The scholarship will be awarded to any applicant who achieves a minimum of AAA over three A levels, or the equivalent qualifications (including BTEC and IB) as specified on our scholarships pages.
The scholarship is also extended to those who achieve AAB at A level (or specified equivalents) where one of the subjects is either Mathematics or a Modern Foreign Language. Please review the eligibility criteria.
