BSc Actuarial Sciences


Attendance
Full Time
Award
Degree of Bachelor of Science



UCAS Course Code
N324
A-Level typical
ABB (2019/0 entry) See All Requirements
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Actuarial Sciences incorporates multi-disciplinary teaching, combining the expertise of the School of Computing Sciences, School of Mathematics, School of Economics and Norwich Business School to give our students a unique opportunity to pursue a stimulating and influential career as an actuary.

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Find out what it’s like to study Actuarial Sciences at UEA.

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Key facts

Key facts

Gain exemptions from the CM1, CM2, CS1, CS2, CB1 and CB2 professional exams set by the Institute and Faculty of Actuaries.

Study the art of risk: measuring it, assessing it, managing it, mitigating it – and sometimes profiting from it.

Crossing the road, making a cup of tea, flying on holiday, starting a new business: nearly everything in life encompasses an element of risk. And to an Actuary, risk is everything. If you’re strong on mathematics and have an interest in business and economics, are fascinated by world events and not afraid to take an educated gamble, a career in this small but growing (and pretty lucrative) profession could be ideal.

Our Actuarial Science degree will teach you how to look to the future from a business perspective, assess any likely impact, then put a price on mitigating any risk. And, due to our strong links with industry, you’ll have opportunities to put the theory into practice.

Actuarial Science is exciting, challenging and stimulating – and its skillsets are in increasingly high demand.

Overview

If you have a love of mathematics and business but want to work with them in a more applied field, Actuarial Science is a great choice. As well as becoming a professional Actuary, it opens up doors to broader fields including data science and risk management.

Our multidisciplinary Actuarial Science degree course brings together UEA’s Schools of Mathematics, Computing Sciences and Economics, along with the expertise of practising Actuaries.

You’ll develop core skills across mathematics, statistics and finance, and each year you’ll have the option to choose a traditional actuarial module or, if you’re thinking about specialising in data science, you’ll be able focus on developing additional computing skills. Plus, we’ll help you hone the communication and presentation skills essential to any graduate entering the financial sector. 

Our strong links with industry mean you’ll have unique opportunities to see theory put into practice, and our syllabus includes guest lectures from working professionals, such as experts from Aviva. What’s more, you’ll have the opportunity to gain exemptions from the professional examinations set by the Institute & Faculty of Actuaries, so you could graduate one step ahead of your competition.

Course Structure

You’ll commence this three-year degree by further developing your knowledge of mathematics, computing, economics and business. Each year you’ll also be able to select an optional module to pursue your own specialist interests, and a module developing your written and oral skills in modelling and communication.

Year 1

Compulsory modules in the first year provide you with a clear understanding of mathematics, computing and problem solving. You’ll build on and develop your pre-existing knowledge and start developing your awareness and understanding of actuarial mathematics, as well as acquiring some practical modelling skills. Options in year one allow you to choose between a skills-based module, taught in partnership with practicing actuaries, and an additional computing module, designed to develop your data science skills.

Year 2

In the second year you’ll be introduced to specific actuarial themes and taught about business in the context of the actuarial profession. Optional modules offer you the choice between ‘Financial Accounting for Actuaries’, which is included in the accreditation agreement, and a computing science module. So, once again, you can tailor your programme to a more traditional actuarial science degree, or to one with a broader set of computing skills.

Year 3

In your final year you’ll be able to focus on developing your advance knowledge of statistics, mathematics and professional actuarial practise. You’ll also be given the option to complete a dissertation, as well as a module taught in partnership with practising actuaries. Alternatively, if computer science is your preferred area of focus, you could choose to further develop these skills.

Teaching and Learning

The Actuarial Science degree at UEA is taught through a combination of lectures, classes, seminars and lab work. Our lab work, classes and seminars are particularly crucial to your degree programme, as they are where we’ll reinforce and expand on the material covered in the lectures.

We also offer specialist actuarial modules, which are usually taught by qualified actuaries in a classroom environment, providing you with plenty of interactivity and real world examples.

Independent study

Your formal teaching on the course will be complemented with individual study. You’ll be set formative work to complete between lectures and within classes, seminars and lab work, helping cement your understanding of new material.

Learning to study independently is a key skill for all aspiring Actuaries and is something that will be developed gradually throughout the programme as your confidence grows.

Assessment

We employ a range of assessment methods throughout the course, including, examinations, written assignments, class tests, problem sheets, group work and presentations to a variety of audiences.

We adapt how and when we assess you in accordance with each module’s content and objectives, however most modules will feature a combination of coursework and exams.

Optional Study abroad or Placement Year

You could also choose the BSc Actuarial Sciences with a Year in Industry and spend a year in the workplace.It will not only give you first-hand knowledge of the way in which your chosen field operates, it will also greatly improve your chances of progressing within that sector thanks to the relevant work experience, valuable contacts and real-world insight you’ll gain.

After the course

On successful completion of our Actuarial Science degree, your academic performance could earn you exemptions to the professional actuarial examinations set by the Institute & Faculty of Actuaries. We currently offer exemptions from the first eight (CT1-CT8) examinations and we have recently had our proposals approved to allow for the changes required to ensure consistency with the Institute & Faculty’s changes.  This means that on graduation, subject to recent a certain level of academic performance, you will be entitled to exemptions from CM1 &2, CS1&2 CB1 &2.  If you achieve a good degree class, you can expect to be fully-qualified within two or three years

Beyond becoming a professional Actuary, you could choose to pursue a stimulating and influential career in a wide range of sectors, including business, insurance, pensions, banking, accounting and other financial services.

Career destinations

Examples of careers that you could enter include:

  • Actuary
  • Banking and finance
  • Data scientist
  • Risk manager
  • Investment manager
  • Financial modeler

Course related costs

Students are strongly encouraged to purchase recommended texts for the actuarial modules as well as a copy of the ‘Formulae and Tables for Examinations of the Faculty of Actuaries and the Institute of Actuaries’. Both can be purchased via the School at a discounted price at the start of each academic year.

Please see Additional Course Fees for details of other course-related costs.

Accreditation

This course is accredited by the Institute and Faculty of Actuaries (IFoA).

By studying an accredited degree course means that you may be eligible for exemptions from some of the IFoA’s professional exams. This will depend on the modules you take and the grades you obtain. For a current list of exemptions please visit the IFoA’s website

Course Modules 2019/0

Year 1

Compulsory Study (100 credits)

Students must study the following modules for 100 credits:

Name

Code

Credits

 CALCULUS AND MULTIVARIABLE CALCULUS

MTHA4008Y

30

 ECONOMICS FOR ACTUARIES

CMP-4014Y

20

 INTRODUCTION TO FINANCIAL MATHS AND MODELLING

CMP-4003A

20

 PROBABILITY

MTHA4001B

10

 WEB-BASED PROGRAMMING

CMP-4011A

20

 Option A Study (20 credits)

Students will select 20 credits from the following modules:

Name

Code

Credits

 ACTUARIAL SKILLS 1

CMP-4011B

20

 DATABASE SYSTEMS

CMP-4010B

20

 

Year 2

Compulsory Study (100 credits)

Students must study the following modules for 100 credits:

Name

Code

Credits

APPLIED STATISTICS 

CMP-5042B 10

 LINEAR REGRESSION USING R

CMP-5043B

10

 CONTINGENCIES AND MODELLING

CMP-5031Y

20

 DIFFERENTIAL EQUATIONS AND LINEAR ALGEBRA

MTHB5008A

20

 FINANCIAL MATHEMATICS

CMP-5009A

20

 MATHEMATICAL STATISTICS

CMP-5034A

20

 Option A Study (20 credits)

Students will select 20 credits from the following modules:

If students elect to take optional modules associated with IFoA Exemptions (i.e. in Year 2, CMP-5040Y), they will be required to pass these modules as they are designated core.

Name

Code

Credits

 FINANCIAL ACCOUNTING FOR ACTUARIES

CMP-5040Y

20

 PROGRAMMING FOR NON-SPECIALISTS

CMP-5020B

20

 

Year 3

Compulsory Study (60 credits)

Students must study the following modules for 60 credits:

Name

Code

Credits

 ACTUARIAL METHODS AND MODELS

CMP-6041Y

20

 GENERALISED LINEAR MODELS

 

10

 STOCHASTIC PROCESSES

 

10

 FURTHER CONTINGENCIES

CMP-6042B

20

 

Option A Study (60 credits)

Students will select 60 credits from the following modules:

If students elect to take optional modules associated with IoFA Exemptions (i.e. in Year 3, CMP-6032B and CMP-6035A), they will be required to pass these modules as they are designated core.

Name

Code

Credits

 ACTUARIAL SKILLS 2

CMP-6029Y

20

 FINANCIAL MARKETS

CMP-6035A

20

 FURTHER FINANCIAL MATHEMATICS

CMP-6032B

20

 INFORMATION RETRIEVAL

CMP-5036A

20

 STATISTICS PROJECT

CMP-6028Y

40

 

Disclaimer

Whilst the University will make every effort to offer the modules listed, changes may sometimes be made arising from the annual monitoring, review and update of modules and regular (five-yearly) review of course programmes. Where this activity leads to significant (but not minor) changes to programmes and their constituent modules, there will normally be prior consultation of students and others. It is also possible that the University may not be able to offer a module for reasons outside of its control, such as the illness of a member of staff or sabbatical leave. In some cases optional modules can have limited places available and so you may be asked to make additional module choices in the event you do not gain a place on your first choice. Where this is the case, the University will endeavour to inform students.

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Entry Requirements

  • A Level ABB including grade A in Mathematics
  • International Baccalaureate 32 points including HL6 in Mathematics
  • Scottish Advanced Highers BCC including grade B in Mathematics
  • Irish Leaving Certificate 3 subjects at H2 including Mathematics and 3 subjects at H3.
  • Access Course Pass the Access to HE Diploma with Distinction in 30 credits at Level 3 including 12 credits in Maths and Merit in 15 credits at Level 3
  • BTEC DDM acceptable in an IT or Science-based subject alongside grade A in A-level Mathematics. Excludes Public Services on its own
  • European Baccalaureate 75% overall including 85% in Mathematics

Entry Requirement

Science A-levels must include a pass in the practical element.

A-Level General Studies and Critical Thinking are not accepted.

GCSE Requirements: GCSE English Language grade 4 or C and GCSE Mathematics grade 4 or C.

UEA recognises that some students take a mixture of International Baccalaureate IB or International Baccalaureate Career-related Programme IBCP study rather than the full diploma, taking Higher levels in addition to A levels and/or BTEC qualifications. At UEA we do consider a combination of qualifications for entry, provided a minimum of three qualifications are taken at a higher Level. In addition some degree programmes require specific subjects at a higher level.

Students for whom English is a Foreign language

We welcome applications from students from all academic backgrounds. We require evidence of proficiency in English (including speaking, listening, reading and writing) at the following level:

  • IELTS: 6.5 overall (minimum 6.0 in any component)

We will also accept a number of other English language qualifications. Review our English Language Equivalences here.

INTO University of East Anglia 

If you do not meet the academic and/or English language requirements for this course, our partner INTO UEA offers guaranteed progression on to this undergraduate degree upon successful completion of a foundation programme. Depending on your interests and your qualifications you can take a variety of routes to this degree:

Interviews

The majority of candidates will not be called for an interview and a decision will be made via UCAS Track. However, for some students an interview will be requested. You may be called for an interview to help the School of Study, and you, understand if the course is the right choice for you.  The interview will cover topics such as your current studies, reasons for choosing the course and your personal interests and extra-curricular activities.  Where an interview is required the Admissions Service will contact you directly to arrange a convenient time.

Gap Year

We welcome applications from students who have already taken or intend to take a gap year.  We believe that a year between school and university can be of substantial benefit. You are advised to indicate your reason for wishing to defer entry and to contact admissions@uea.ac.uk directly to discuss this further.

Intakes

The School's annual intake is in September of each year.

Fees and Funding

Undergraduate University Fees and Financial Support

Tuition Fees

Information on tuition fees can be found here:

UK students

EU Students

Overseas Students

Scholarships and Bursaries

We are committed to ensuring that costs do not act as a barrier to those aspiring to come to a world leading university and have developed a funding package to reward those with excellent qualifications and assist those from lower income backgrounds. 

The University of East Anglia offers a range of Scholarships; please click the link for eligibility, details of how to apply and closing dates.

How to Apply

Applications need to be made via the Universities Colleges and Admissions Services (UCAS), using the UCAS Apply option.

UCAS Apply is a secure online application system that allows you to apply for full-time Undergraduate courses at universities and colleges in the United Kingdom. It is made up of different sections that you need to complete. Your application does not have to be completed all at once. The system allows you to leave a section partially completed so you can return to it later and add to or edit any information you have entered. Once your application is complete, it must be sent to UCAS so that they can process it and send it to your chosen universities and colleges.

The UCAS code name and number for the University of East Anglia is EANGL E14.

Further Information

Please complete our Online Enquiry Form to request a prospectus and to be kept up to date with news and events at the University. 

Tel: +44 (0)1603 591515

Email: admissions@uea.ac.uk

 

    Next Steps

    We can’t wait to hear from you. Just pop any questions about this course into the form below and our enquiries team will answer as soon as they can.

    Admissions enquiries:
    admissions@uea.ac.uk or
    telephone +44 (0)1603 591515