What is a Bachelor in Actuarial Science?
Actuarial Science is the discipline that is concerned with the application of mathematical, statistical, probabilistic, and financial theories to assess risk in insurance, stock exchange, finance and other industries with an aim of solving real business problems. These problems involve analyzing future financial events, especially where future payments involved have certain or uncertain timing.
The course is designed to equip the students with theoretical knowledge and practical skills, develop and apply techniques of mathematics, statistics, probability and finance to solving real business problems. Actuarial science applies elements of economics, finance, statistics and advanced mathematics to interpret, manage and evaluate risk.
SEE ALSO : Bachelor of Science in Mathematics and Computer Science
SEE ALSO : Bachelor of Science in Mathematics and Computer Science
Responsibilities Of an Actuary.
Actuaries are professionals who are qualified in this field through education and experience.They help businesses to assess the risk of certain events occurring. They assemble and analyze data to estimate the probability and likely cost of the occurrence of an event such as death, sickness, injury, disability or loss of property.
Study Areas
Actuarial science includes a number of study areas: probability, mathematics, statistics, finance, economics, financial economics, and computer programming.
Career Opportunities
Actuarial Science graduates obtain employment in a range of fields depending on areas of specialisation and interest. Employment opportunities exist in the following areas:
- insurance & pensions
- investment
- solvency measurements
- asset & financial liability management
- stock exchange
- accounting firms
- Government programs like Social Security
- Mortality and morbidity investigation.
- Corporate and consulting services, especially management and public relations.
- Banking and Finance
- Risk Management
- Wealth Management
Career Options
This program provides a great foundation for a wide range of careers. Direct career options include:
- Actuarial analyst
- Business consultant
- Investment banker
- Asset management trainee
- Stock Broker
- Insurance analyst
- Risk assessment officer
- Wealth management analyst
Are you a potential Actuarial Scientist?
The course is suitable for applicants who are interested in economics, commerce, business and finance, and who have a strong mathematical, statistical, analytical and modelling skills.
RELATED : Bachelor of Purchasing and Supplies
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