One account
Many possibilites
Bachelor of Commerce [B.Com] (Actuarial Science) is an undergraduate degree program that provides the knowledge and skills for a candidate who wants to become an actuary. This is a technical branch that deals with the measurement of risk, uncertainty, and value for money in financial projects for companies and organizations. The B.Com (Actuarial Science) course is a three-year full-time programme for which the training in mathematics, statistics, economics, finance, accounts.
There are several entrance tests accepted for admission in B.Com (Actuarial Science) programs are CMAT – Common Management Admissions Test from National Testing Agency (NTA), NPAT – National Program in Actuarial Science & Techniques conducted by leading B-Schools, AIEEE for admission in actuarial programs in IITs/NITs, state level tests like OJEE, KCET. There are many institute which provide direct These should preferably be students who have mathematics as a subject in their 10+2 exams.
| Feature | Description |
|---|---|
| Full Form | Bachelor of Commerce (Actuarial Science) |
| Duration | 3 years (full-time), may be offered part-time at some institutions |
| Course Level | Undergraduate |
| Eligibility | 10+2 (passed) with Commerce stream and Mathematics/Statistics subjects |
| Top Colleges (India) | Christ (Deemed to be University), Institute of Actuaries India (IAI), Symbiosis School of Economics (SSE), Sri Ram College of Commerce (SRCC) |
1. Minimum qualification required is 10+2 passed or equivalent from any recognized board and the candidate must have obtained at least 50% of the total aggregate marks.
2. Mathematics as one of the separate subjects at 10+2 level is compulsory for most of the colleges.
3. Strong analytic and quantitative abilities are desired; The mental capability to think rationally is one of the skills that are put into testing in some of the entrance examinations of certain institutes.
4. English is required as most of the actuarial science subject comprises of numerous concept based study materials in English.
5. If the institutes require students to write their own entrance exams, then one must write them too. While some consider 12th class marks for merit for admission into the institution .
6. Some universities demand physical fitness certificates for the course as it involves too much sitting.
| Subject | Important Topics |
|---|---|
| Mathematics | - Calculus (Differential & Integral) - Linear Algebra - Probability Theory - Mathematical Statistics |
| Statistics | - Descriptive Statistics - Probability Distributions - Hypothesis Testing - Regression Analysis - Time Series Analysis |
| Actuarial Mathematics | - Life Tables and Mortality Tables - Commutation Functions - Annuity Valuations - Loss Models |
| Actuarial Economics | - Economics Fundamentals (Micro & Macro) - Financial Markets and Institutions - Risk Management - Insurance Theory |
| Financial Accounting | - Accounting Principles and Concepts - Journalizing and Bookkeeping - Financial Statements Analysis - International Financial Reporting Standards (IFRS) |
| Business Law | - Contract Law - Insurance Law - Company Law - Consumer Protection Law |
| Actuarial Programming | - Introduction to Programming Languages (Python, R, etc.) - Data Analysis Techniques - Financial Modeling |
| Business Communication | - Effective Writing Skills - Presentation Skills - Business Negotiation - Interpersonal Communication |
| Actuarial Science Electives | - Life Insurance - General Insurance - Employee Benefits - Investment and Risk Management - Data Mining for Actuaries |
| College Name | Location | Average CTC (INR lakhs) |
|---|---|---|
| Birla Institute of Technology and Science (BITS) Pilani | Pilani, Rajasthan | 8-12 |
| Symbiosis School of Economics (SSE): Symbiosis University of Pune | Pune, Maharashtra | 7-10 |
| Manipal Academy of Higher Education (MAHE): Manipal Institute of Management (MIM) | Manipal, Karnataka | 6-8 |
| SRM Institute of Science and Technology (SRMIST): Department of Actuarial Science | Chennai, Tamil Nadu | 5-7 |
| Amity School of Business (ASB): Amity University Noida | Noida, Uttar Pradesh | 5-7 |
| Specialization | Average Salary (INR lakhs) |
|---|---|
| Life Insurance | 5-8 |
| Non-Life Insurance | 4-7 |
| Pensions and Employee Benefits | 5-8 |
| Investments and Risk Management | 6-9 |
| Data Analytics for Actuarial Science | 4-6 |
