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#Admission2024

MSc Actuarial Science Admission 2024: Eligibility, Salary, Syllabus

2 Years
Degree
Post Graduation
Full Time

Master of Science (M.Sc) in Actuarial Science is an academic degree usually lasting for two years if undertaken as a full course. This curricular offering offers sophisticated instrumentations in mathematical, statistical, and financial risk and uncertainty modeling. All these courses help learners to acquire professional skills and knowledge in areas such as mathematical foundation, financial mathematics, actuarial modeling, life contingencies, simulation techniques and credibility theory, and principles of actuarial science. The curriculum focuses on theoretical curriculum alongside real application by engaging in insurance and business industry through case study, projects, research and internship opportunities.

Standardized tests scores are compulsory to take for admission into M.Sc Actuarial Science program that measure the aptitude and knowledge in quantitative ability, analytical skills, English comprehension etc The acceptable tests scores for admission are CAT, GMAT, GRE or any other national/university level test like JAM, CMAT, MAT.

MSc Actuarial Science Course Highlights 2024

Highlights Details
Full Form Master of Science (M.Sc) in Actuarial Science
Duration 2 years
Course Level Postgraduate
Eligibility Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics, or related fields with a minimum aggregate percentage, typically around 50-60% depending on the university
Top Colleges Institute of Actuaries of India (IAI), Mumbai; University of Mumbai, Mumbai; Amity University, Noida; Symbiosis International University, Pune

MSc Actuarial Science Course Eligibility 2024

1. Minimum first degree in mathematics, statistics, economics, commerce or any other quantitative course with not less than 50% average pass mark from any university. 

2. However, students in final year of graduation can also apply provisionally for the test provided they meet the minimum marks requirement.

3. Original admit card in entrance tests such as TISSNET/CMAT/KMAT or any test conducted by any B-school. 

4. Use of good numerical and analytical skills, strong problem solving abilities and a basic understanding of insurance, risk management and financial industries.

5. A good hold on subjects like mathematics, statistics, accounting, economics; at the graduation level. 

6. Clear communication also remains highly valued as does the ability to operate a computer and type.

MSc Actuarial Science Syllabus 2024

Subject Important Topics
Probability and Mathematical Statistics Probability theory, Statistical distributions, Hypothesis testing
Financial Mathematics Time value of money, Financial derivatives, Interest theory
Actuarial Models Life insurance models, General insurance models, Pension mathematics
Risk Theory Risk management techniques, Enterprise risk management, Insurance solvency
Actuarial Economics Microeconomics and macroeconomics principles applied to actuarial work
Health Insurance Health insurance principles, Long-term care insurance, Health care financing
Actuarial Data Analysis Data analytics techniques for actuaries, Predictive modeling in insurance

MSc Actuarial Science Course Jobs and Salary 2024

Job Title Description Average Salary (INR)
Actuarial Analyst Entry-level role assisting with data analysis, reserving calculations, and other actuarial tasks. 4,00,000 - 6,00,000
Pricing Actuary Analyzes data to develop and price insurance products considering risks and profitability. 5,00,000 - 8,00,000
Underwriting Actuary Assesses risks associated with individual insurance applications and sets appropriate premiums. 4,50,000 - 7,50,000
Reinsurance Analyst Analyzes risks and pricing for reinsurance contracts, transferring portions of risk to other insurers. 5,00,000 - 9,00,000
Actuarial Modeling Analyst Develops and implements complex actuarial models to assess risks and financial implications. 5,00,000 - 8,50,000
Data Scientist (Actuarial) Applies data science techniques to analyze insurance data and develop risk management solutions. 6,00,000 - 10,00,000
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