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Actuarial Science, B.Sc.

  • Application Deadline
  • 48 months
    Duration

Overview

Actuarial science education equips students with strong mathematical problem-solving skills that can be applied to business careers. The major requirements consist of courses in mathematics, actuarial science, computer science, business, economics and a course in communication. Coupled with a firm foundation in the liberal arts, this major provides a sound grounding in analytical problem-solving and communication skills.

This program prepares students for a variety of careers with insurance companies, consulting firms, financial institutions, industrial corporations, or government agencies. It also provides a good preparation for non-actuarial careers in banking, finance, or insurance. In addition, the statistical background developed by an actuarial student is valuable in a variety of other fields.

Students graduating with a major in Actuarial Science will become proficient in basic mathematics through multivariate calculus and probability together with basic notions of insurance and risk management. They will demonstrate the ability to think clearly and critically in solving problems related to the analysis and management of risk. They will be able to effectively communicate technical and non-technical information to their peers and to non-specialists in their work environment.

Detailed Programme Facts

  • Programme intensity Full-time
    • Full-time duration 48 months
  • Languages
    • English
  • Delivery mode
    On Campus

Programme Structure

Courses include:

  • Introduction to Financial Accounting 
  • Theory of Interest 
  • Risk Management and Insurance
  • Foundations of Actuarial Mathematics
  • Actuarial Contingencies
  • Introduction to Programming and Problem Solving in the Sciences
  • Principles of Microeconomics 
  • Financial Management
  • Investments 
  • Calculus I
  • Calculus II 
  • Multi-Variable Calculus
  • Linear Algebra
  • Probability
  • Mathematical Statistics 

English Language Requirements

  • Minimum required score:

    6.5

    The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

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  • Minimum required score:

    80

    The TOEFL iBT ® measures your English-language abilities in an academic setting. The test has four sections (reading, listening, speaking, and writing), each with a score range of 0-30, for a total score range of 0-120. Read more about TOEFL iBT ®.

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  • Minimum required score:

    53

    PTE Academic (Pearson Test of English Academic) is a language test that enables students to demonstrate their writing, listening, speaking, and reading skills when applying to study in English. Delivered and marked by computer, it reports on a scale between 10 and 90.

Academic Requirements

You need the following GPA score:

Required score: 3

Applicants for graduate programs must have the equivalent of a bachelor’s degree with a minimum GPA equivalent to 3 on a US 4.0 grading scale. Admitted applicants typically have an undergraduate GPA of or better on a 4.0 scale. No exam grade should be lower than 4.5 (European grade scale) or D (American grade scale).

Your GPA (Grade Point Average) is calculated using the grades that you received in each course, and is determined by the points assigned to each grade (e.g. for the US grading scale from A-F).

General Requirements

Admission Guideline: Due to the demanding nature of the Actuarial Science Program and the difficulty of the examinations required for professional designation, it is strongly suggested that prospective majors have a minimum Math GPA of 3.0. Most students who have been successful in this program and actuarial examinations have had GPA’s considerably higher than 3.0.  

Tuition Fee

  • International

    41792 USD/year
    Tuition Fee
    Based on the original amount of 41792 USD per year and a duration of 48 months.
  • National

    41792 USD/year
    Tuition Fee
    Based on the original amount of 41792 USD per year and a duration of 48 months.
  • In-State

    41792 USD/year
    Tuition Fee
    Based on the original amount of 41792 USD per year and a duration of 48 months.
We've labeled the tuition fee that applies to you because we think you are from and prefer over other currencies.

Living costs for Saint Paul

  • 1040 - 1760 USD/month
    Living Costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.

Funding

Studyportals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

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