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B.Sc. Actuarial Science is a three-year undergraduate course that deals with Mathematics, Statistics, Economics and Finance in order to evaluate and mitigate risks and uncertainties. The course enables the students to acquire skills such as statistical analysis, modelling and data analytics when determining the viability of insurance policies, pension plans and other financial programs. The subjects included in the curriculum are probability, stochastic processes, econometrics, accounting, finance and actuarial mathematics which helps to build quantitative reasoning ability and analysis skills.
Major entrance examinations accepted for admission to B.Sc. Few of the Actuarial Science programs are SAT, ACT, GMAT, XAT, CAT, MAT, ATMA CMAT, AMU & other state level. Certain colleges may also use 12th board percentage, performance in mathematics and statistical analysis for extending the admission. Actuarial Science calls for the use of mathematics and statistics; therefore, applicants should have studied mathematics at 10+2 level.
| Event | Details |
|---|---|
| - Full Form | Bachelor of Science (Actuarial Science) |
| - Duration | 3 years |
| - Course Level | Undergraduate |
| - Eligibility | 10+2 with Mathematics and Statistics |
| - Top Colleges | Institute of Actuaries of India (IAI), University of Mumbai, Alagappa University |
| - Entrance Exam | Entrance exams like ACET, CMAT, GMAT |
1. A candidate must have completed 10+2 in science stream from a recognized board with minimum 60% marks.
2. Mathematics is one of the subjects offered in 10 plus 2 curriculum and it is mandatory. Likewise, the candidate has secured minimum 60% marks in Mathematics.
3. Strong problem solving, analytical, and quantitative skills coupled with logical abilities.
4. As per previous year criteria, candidate should have cleared exams like JEE Mains, SAT or any other aptitude test relevant to the course.
5. Fluency in English language is preferred but not mandatory as the students can work on improving this aspect.
6. Strength and health of body and soundness of eyes.
| Subject | Topics |
|---|---|
| Actuarial Mathematics | Probability, Statistics, Mathematical finance, Actuarial models |
| Statistics | Descriptive statistics, Inferential statistics, Regression analysis, Time series analysis |
| Economics | Microeconomics, Macroeconomics, Econometrics, International trade |
| Computer Programming | Programming languages, Data structures, Algorithms, Computer applications in actuarial science |
| Actuarial Risk Management | Risk assessment, Risk modeling, Risk mitigation, Risk management techniques |
| Insurance | Life insurance, Health insurance, Property insurance, Casualty insurance |
| Pension Planning | Retirement planning, Pension fund management, Actuarial calculations for pensions |
| Investment | Investment theories, Portfolio management, Asset pricing, Investment analysis |
| Demography | Demographic models, Population dynamics, Mortality rates, Morbidity rates |
Tabulated below is the collection of the Top Bachelor of Science [B.Sc] (Actuarial Science) Colleges in India with Fee Structure, including their key features.
| Name of the institute | Location | Fees |
|---|---|---|
| Assam Down Town University | Guwahati, Assam | INR 260,000 |
| Kavayitri Bahinabai Chaudhari North Maharashtra University | Jalgaon, Maharashtra | INR 18,120 |
| Yashwantrao Chavan Maharashtra Open University | Nashik, Maharashtra | INR 250,000 |
| Amity University | Noida, Uttar Pradesh | INR 790,000 |
