Undergraduate BSc (Hons)
Actuarial Science
Take a giant step towards a well-paid and fulfilling career in financial risk management.
Take a giant step towards a well-paid and fulfilling career in financial risk management.
Actuaries evaluate and manage financial risks, particularly in the financial services industry. Our specialist course is taught by professional actuaries and internationally renowned statisticians to make sure you're fully prepared for your career.
By choosing Actuarial Science BSc at Kent, you’ll develop key skills in maths, business economics, probability, statistics and calculus, all of which are highly sought-after by employers.
We're fully accredited by the Institute and Faculty of Actuaries. You can achieve exemptions from six of the thirteen professional examinations required to become a qualified actuary: CB1, CB2, CM1, CM2, CS1 and CS2. You could then continue your studies with our MSc Applied Actuarial Science to also achieve exemptions in CP1, CP2, CP3, and two SP subjects.
You’ll benefit from the extensive industrial experience of the qualified Actuaries who teach on the course.
Fully accredited by the Institute and Faculty of Actuaries (IFoA).
Learn industry standard software like PROPHET, R and Python.
Take a placement year to boost your professional skills and get paid to do it.
You’ll benefit from free membership of the Kent Maths Society and Invicta Actuarial Society.
AAB including Maths at A but excluding Use of Maths.
If taking both A level Mathematics and A level Further Mathematics:
ABB including Maths at A and Further Maths at B but excluding Use of Maths.
Grades Distinction Merit from the BTEC National Extended Diploma plus A Level Mathematics at A (but excluding Use of Maths). The University will consider those not taking A Level Maths on a case by case basis.
136 tariff points from your IB Diploma, including Mathematics or Mathematics: Analysis and Approaches at 6 at HL, typically H6, H6, H6 or equivalent.
N/A
The University will consider applicants holding T level qualifications in subjects closely aligned to the course.
A typical offer would be to obtain the Access to HE Diploma in a suitable subject with a minimum of 45 credits at Level 3, with 39 credits at Distinction and 6 credits at Merit.
The following modules are what students typically study, but this may change year to year in response to new developments and innovations.
In the digital age, it is becoming ever easier, and more important, to collect data to predict and inform future decisions in science and society. Applications range from analysing communities and trends on the internet, researching patients’ responses to new drugs, examining the impact of global events on the stock market, and measuring population sizes of endangered species.
Many professions require skills in extracting useful information from data and managing and presenting data accurately. You’ll learn the core methods and principles of probability theory and statistics, and gain skills in applying these methods to analyse sample data and draw inferences or generalisations.
You’ll learn how to estimate an unknown parameter’s value, how to construct a confidence interval, and how to do hypothesis testing. The statistical computing package R is used throughout the module to support your learning and illustrate the methods.
R, Python, Excel, and collaborative platforms like GitHub are essential tools for academic study and professional advancement. This module equips you with comprehensive skills in working with these platforms through a range of hands-on problems and practical assignments.
As you progress through the module, you'll delve into the intricacies of R, Python, and Excel, mastering their functionalities through real-world applications. From data analysis to visualisation and interpretation, you'll gain a holistic understanding of how these tools can be harnessed to extract insights from complex datasets and analyse complex problems.
The module has a strong emphasis on collaborative work, providing opportunities for you to engage in group projects that simulate real-world scenarios. You'll learn how to effectively collaborate with peers, manage version control, and contribute to shared repositories - an invaluable skill set in today's collaborative work environments.
Linear algebra is a core subject in mathematics. It provides the algebraic foundation for advanced mathematics and has endless practical applications in industry and science, ranging from internet technologies to theoretical physics. This module in linear algebra prepares you for advanced topics in the fields of algebra, multivariable calculus, differential equations, data analysis, and financial mathematics.
Linear algebra is the study of finding solutions to systems of linear equations using matrices, and corresponding geometric objects such as vectors, lines, planes, and linear transformations of Euclidean space. It can be used to describe symmetries of space, such as rotations, reflections, and rescaling of distances.
You’ll apply powerful techniques of matrix algebra to solve systems of linear equations, learn how to find the eigenvalues and eigenvectors of a linear transformation and learn the basic concepts and core results in linear algebra. You’ll also see how these concepts can be used to provide solutions to a variety of real-world problems.
Business Economics explores the constantly evolving economic world within which actuaries work, providing context and developing economic insights that can inform real-world business decisions.
You'll be equipped with the knowledge and tools needed to understand the workings of competitive markets, and the interaction of consumers and suppliers, using a variety of models and examples to investigate decision-making in the economy. The practical roles of money, capital and labour, and the involvement of government in influencing the big-picture of the economy, will be tied to the interests of business, with a strong foundation of economic theory underpinning real-world examples and illustrations. Theories are challenged, economic conventions are interrogated, and different viewpoints are considered to ensure a practical and relevant understanding of economic issues.
The module is designed to satisfy the standards of subject CB2 of the Institute and Faculty of Actuaries examinations for exemption purposes.
You’ll learn about the mathematics behind the design and operation of popular financial investments. This enables you to gain an understanding of the key principles of working with interest rates, and of how these can be used to price and value investments such as loans, shares, bonds and property.
You will also receive a practical introduction to financial modelling and learn how models can be used to solve financial problems. This includes using the application of the above ideas on real data sets using e.g. Microsoft Excel.
This module together with second-year module Actuarial Mathematics 1 and the final year module Actuarial Mathematics 2 can lead to exemption from the CM1 exam of the Institute and Faculty of Actuaries (IFoA).
Calculus serves as the mathematical foundation for many fields, including physics, engineering, economics, computer science, and statistics. It also plays a crucial role in understanding and solving problems in biology, chemistry, and medicine.
This module delves deep into the fundamental concepts of differentiation and integration. You’ll explore the properties of core functions including polynomials, exponentials and logarithms, trigonometric functions and their inverses, as well as hyperbolic functions. You’ll become proficient in the fundamental techniques of differentiation and integration of single-variable functions.
You’ll explore the practical applications of differentiation and integration, such as optimisation problems, curve sketching and solving simple differential equations. You’ll also demonstrate how calculus can be used to solve real-world problems. Throughout the module, you’ll develop critical thinking skills, mathematical reasoning, and the ability to apply calculus techniques to solve various problems.
Explanatory and predictive modelling is essential to data-driven decision-making. Throughout this module, you’ll learn about regression, the cornerstone of versatile statistical analysis and master diagnostics, model specification, selection, and interpretation.
Through hands-on activities and real data analysis, you’ll gain the skills to extract actionable insights and forecast future trends confidently. The module is designed to equip you with the required tools to navigate complex datasets across different areas of application and practice.
This tailored module on explanatory and predictive modelling in context will help you unlock the essence of data-driven decision-making. You’ll learn about regression, the cornerstone of versatile statistical analysis, mastering diagnostics, model specification, selection, and interpretation.
Through hands-on activities and real data analysis, you’ll gain the skills to extract actionable insights and forecast future trends confidently. The module is designed to equip you with the necessary tools to navigate complex datasets across different areas of application and practice.
Mathematical statistics provides the theoretical framework for statistical techniques. Understanding these mathematical underpinnings allows statisticians to develop and justify various statistical methods, ensuring their validity and reliability. Mathematical statistics enables practitioners to extract valuable insights from data, make informed decisions, and drive progress in various fields of knowledge and application.
You’ll learn advanced techniques in probability and statistics, including maximum likelihood estimation, advanced hypothesis testing, moments and moment-generating functions. You’ll also discover bivariate and multivariate discrete and continuous distributions.
By the end of the module, you’ll have a solid foundation in mathematical statistics, enabling you to confidently apply and further develop advanced skills in data analysis.
Mathematics is central to investing. In this module, you’ll learn about the mathematics behind the design and operation of popular financial investments. You’ll learn the key principles of working with interest rates, and discover how these can be used to price and value investments such as loans, shares, bonds and property.
You will also receive a practical introduction to financial modelling and learn how models can be used to solve financial problems. This includes the ideas you learn to real data sets using Microsoft Excel and other software packages. You will also further develop your skills in financial modelling and learn how models can be used to solve actuarial problems. This includes applying the concepts and techniques of actuarial mathematics on real data sets using e.g. Microsoft Excel.
This module follows on from Financial Mathematics and together with that module and the final year module Actuarial Mathematics 2 can lead to exemption from the CM1 exam of the Institute and Faculty of Actuaries (IFoA).
How can we use mathematics to design common life insurance products? How can we calculate the financial impact of uncertain future events? In this module, you’ll learn about the key principles of working with mortality rates and interest rates. This will allow you to value cash flows which are contingent on mortality and/or survival, enabling you to price and value products such as whole-life, temporary and endowment assurances and whole-life and temporary annuities.
You’ll also further develop your skills in financial modelling and learn how models can be used to solve actuarial problems. You’ll apply the concepts and techniques of actuarial mathematics to real data sets using software such as Microsoft Excel.
This module follows on from Financial Mathematics and together with that module and the final year module Actuarial Mathematics 2, it can lead to exemption from the CM1 exam of the Institute and Faculty of Actuaries (IFoA).
From start-ups to established multinationals, businesses need finance at various stages, whether it’s to fund growth, or just to survive. In this module, you’ll explore and apply the principles of corporate finance. You’ll consider a wide variety of sources of finance, from traditional to more contemporary means, and examine the process of selecting an appropriate approach depending on the circumstances.
You’ll also consider the methods businesses use to manage financial risk, and look at how firms evaluate which projects to undertake. Additionally, you’ll cover important topics such as corporate governance, alternative business forms, and the impact of taxation.
Corporate accounts and financial statements communicate the financial position of a business to various users. You’ll examine the process of constructing these reports, develop an understanding of the concepts and techniques of financial accounting, and find yourself in a better position to critically interpret and discuss the financial reports of real companies and financial institutions.
Through this module, you’ll gain insights into the needs and concerns of businesses in the commercial world, including those relevant to potential employers and clients. This module can lead to exemption from the CB1 exam of the Institute and Faculty of Actuaries (IFoA).
You have the option to add a year in industry to this course. We already know you have the confidence and commitment to thrive in the workplace and kick-start your career. This is your chance to prove it, to yourself and to employers.
When should I start looking? In the summer of your first year; placements must be secured by 31 August in your second year.
Where can I get help finding a placement? Book an appointment with a placement adviser via the careers service.
Will I get paid? Most of our placements are paid.
Do I have to pay tuition fees? Yes, you’ll pay a substantially reduced fee, currently £1,850, which for UK students is covered by Student Finance.
Where can I get visa advice if I’m an international student? Kent Union can help with any visa queries for your Year in Industry.
Does the University keep in touch? You receive four-weekly check-in emails, a visit from the team every three months and you can reach out to us any time by email or phone.
Do I work for a full year? The minimum requirement for an industrial placement is 44 weeks.
What could you do in a year?
My year in industry couldn’t have gone better. I secured a role at IBM, working in their sports and entertainment department – it was perfect for meTom Tillin Find out more
A strong grasp of statistical modelling and optimisation principles forms the bedrock of machine learning. This module covers essential and advanced topics of machine learning and deep learning, blending theory with practical computing tools, such as R and Python.
We’ll equip you with the necessary theoretical framework to navigate through complex algorithms and methodologies. You’ll explore key concepts including classification, prediction, and regression tree-based methods through engaging real-world datasets.
You’ll uncover the power of resampling techniques and support vector machines, and dive into the exciting realm of deep learning. With applications spanning biomedical statistics, finance, and insurance, this module offers a hands-on learning experience tailored to aspiring data scientists.
What are the commonly used models in actuarial science? How can we apply these models to tackle the complex problems faced by financial professionals in practical situations? Modelling is crucial for actuaries as it allows us to assess and manage risks in various circumstances. This module gives you the valuable practical and theoretical skills needed to navigate these critically relevant issues.
You’ll gain a strong foundation in financial economics modelling techniques and be able to apply them in quantitative risk management situations, including portfolio selection and the pricing and valuation of financial derivatives.
You’ll develop valuable skills to model economic decision making by forecasting potential future scenarios, and apply a range of financial risk measurement tools to evaluate suitable investment opportunities. In addition, you’ll explore a range of liability valuation modelling tools which can be used to estimate insurance claims. The modelling techniques that you learn in this module will provide you with the indispensable knowledge and skills needed for a successful career in insurance, finance and related fields.
You will also have the opportunity to gain valuable exemptions from subject CM2 of the Institute and Faculty of Actuaries (IFoA, UK).
How is mathematics used to design common life insurance products, including those with profits and unit-linked products? In this module, you’ll learn how to price and value complex cash flows on various insurance products. You’ll look at cases where the benefits can vary and where the cash flows are contingent on the mortality, morbidity and/or survival of more than one life. You’ll also learn how to calculate and analyse the profitability of these products.
You’ll have the opportunity to gain valuable, practical experience working with one of the industry’s leading actuarial modelling software applications, PROPHET. This is used by insurance and financial services companies to meet reporting responsibilities, improve risk management and develop profitable products. You will also further develop your skills in financial modelling and learn how models can be used to solve actuarial problems. You’ll do this by applying the concepts and techniques of actuarial mathematics to real data sets using PROPHET and/or Microsoft Excel.
This module follows on from Financial Mathematics and Actuarial Mathematics 1 and together with these modules can lead to exemption from the CM1 exam of the Institute and Faculty of Actuaries (IFoA).
Mathematical and statistical modelling techniques are vital tools for those working in the insurance industry. This module introduces you to these techniques and illustrates their importance to survival analysis and insurance. You’ll also learn how they are used by actuaries employed by pension schemes and insurance companies.
There are many applications of these techniques including fitting statistical distributions to mortality data and insurance claims data so that the solvency of insurance companies can be assessed and managed. They can also be used to determine the effect of factors such as age, lifestyle and geographical location on longevity and claims levels. Modelling techniques can also be used to advise governments on healthcare, state pension provision and regulation of entire industries.
Throughout the module, you’ll study both theory and its application using programming languages such as R and software such as Microsoft Excel to solve real-life problems that actuaries in the pension and insurance sectors may encounter.
This module will cover a number of syllabus items set out in subjects CS1 and CS2 published by the Institute and Faculty of Actuaries.
You’re now at the final stages of your undergraduate journey into actuarial practice. This module brings together your theoretical knowledge, skills and insights where you will apply it to the context of the professional and commercial world. You’ll survey the wider landscape of financial services and investigate some of the common roles, issues and complexities you’re likely to encounter working as an actuary.
You’ll refine the core skills required to work in this sector and explore the various risks the industry faces, together with effective strategies for managing these risks. Through insightful discussions on topical industry-shaping issues and collaborative projects, you’ll develop your ability to analyse and address emerging challenges, enhance your teamwork and communications skills.
A core focus of this module is enhancing your employability and preparing you for a career in the commercial and professional world. You’ll have the opportunity to reflect on your learning, assess how your strengths and competencies align with various industry requirements, and build a foundation for your future in the industry.
Stochastic models and time series techniques are vital tools for actuaries. This module demonstrates how these concepts are applied by actuaries working for insurance companies and investment firms. You’ll learn how to use time-series skills to analyse security prices and other economic factors such as interest rates, inflation and foreign exchange rates. You’ll also learn how stochastic theory is fundamental in designing actuarial models in fields such as population projection.
You’ll use industry-standard software such as R to solve real-life problems encountered in various actuarial sectors. You’ll also engage with topical actuarial issues by reading and discussing industry-specific articles. This will give you a competitive edge when it’s time to launch your career.
This module also covers several syllabus items in Subjects CS1 and CS2 published by the Institute and Faculty of Actuaries.
A variety of delivery methods will be used to deliver accessible teaching, supplemented by example classes, workshops and practical exercises. Computer laboratory sessions will focus on developing and applying information technology skills through hands-on exercises.
Information technology skills are developed through the course, including MS Excel, R, Python and PROPHET, the specialist actuarial software used widely in industry, adding value to students’ employability credentials.
Course lecturers and guest speakers include those with significant industry experience, and experience of working with industry on research and commercial innovation. This practical knowledge and network supports students’ development.
For a student studying full time, each academic year of the programme will comprise 1200 learning hours which include both direct contact hours and private study hours. The precise breakdown of hours will be subject dependent and will vary according to modules.
Methods of assessment will vary according to subject specialism and individual modules.
Please refer to the individual module details under Course Structure.
For course aims and learning outcomes please see the course specification.
Our Actuarial Science programme gives you exemptions from the professional exams set by the UK actuarial profession, so you'll have a head start when looking to qualify as an actuary. You can achieve exemptions from six of the thirteen professional examinations required to become a qualified actuary: CB1, CB2, CM1, CM2, CS1 and CS2.
You could then continue your studies with our MSc Applied Actuarial Science to also achieve exemptions in CP1, CP2, CP3, and two SP subjects.
You may also want to consider our 2-year International Master's in Applied Actuarial Science, where you can achieve exemptions from CB1, CB2, CM1, CM2, CS1, CS2, CP1, CP2, CP3, and two SP subjects.
The biggest change was my confidence.
*The Government announced on 4 November 2024 that tuition fees in England for Home students will increase to £9,535 from £9,250 for the academic year 2025/26. This increase requires Parliamentary approval, which is expected to be given in early/mid 2025.
Tuition fees may be increased in the second and subsequent years of your course. Detailed information on possible future increases in tuition fees is contained in the Tuition Fees Increase Policy.
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.
For details of when and how to pay fees and charges, please see our Student Finance Guide.
Fees for undergraduate students are £1,900.
Fees for undergraduate students are £1,430.
Students studying abroad for less than one academic year will pay full fees according to their fee status.
Students will require regular access to a desktop computer/laptop with an internet connection to use the University of Kent’s online resources and systems. Please see information about the minimum computer requirements for study.
Find out more about accommodation and living costs, plus general additional costs that you may pay when studying at Kent.
Kent offers generous financial support schemes to assist eligible undergraduate students during their studies. See our funding page for more details.
We have a range of subject-specific awards and scholarships for academic, sporting and musical achievement.
Next steps
If you are from the UK or Ireland, you must apply for this course through UCAS. If you are not from the UK or Ireland, you can apply through UCAS or directly on our website if you have never used UCAS and you do not intend to use UCAS in the future.
We welcome applications from students all around the world with a wide range of international qualifications.
Student Life
Powered by progress
Kent has climbed 12 places to reach the top 40 in The Times Good University Guide 2025.
Kent Sport
Kent has risen 11 places in THE’s REF 2021 ranking, confirming us as a leading research university.
An unmissable part of your student experience.