OVERVIEW:
Description of the Programme:
The discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. Actuaries are professionals who are qualified in this field through education and experience. Actuarial science includes a number of interrelating subjects, including probability, mathematics, statistics, finance, economics, financial economics, and computer programming. These problems involve analyzing future financial events especially where future payments involve certain or uncertain timing. Historically, actuarial science used deterministic models in the construction of tables and premiums.
The science has gone through revolutionary changes during the last 30
years due to the proliferation of high speed computers and the union of stochastic actuarial
models with modern financial theory
In Kenya, therefore, there is a great need to keep up with global professional trends hence the
need for a BSc. program in Actuarial science, which provides broad training in the basic
mathematics underlying operations of private, social insurance and employee benefit plans.
Admission Requirements:
a)Candidates must satisfy the minimum university entry requirements of KCSE Mean Grade of C+ (Plus) with C+(Plus) in Mathematics. OR
b) Holders of KACE with minimum of 2 principals passes and one subsidiary pass. OR
c) KCSE Mean Grade C (plain) with a Diploma of at least Credit Pass or Higher Diploma in Mathematics related fields from recognized examination board/ Institution. OR
c) BSc in Mathematics related field from accredited Institutions.
Programme Learning Objectives (PLOs):
The program learning objectives are:
1. To develop a strong foundation in mathematics, statistics, and probability theory
2.To gain knowledge of actuarial science principles and techniques
3. To learn about financial mathematics and risk management
4. To develop skills in data analysis and modeling
5. To understand the use of information technology in actuarial practice
STRUCTURE OF PROGRAMME:
Duration of the Program:
To be considered for the award of the degree of Bachelor of Science in Actuarial Science, a candidate shall normally have enrolled for courses over a period of not less than four academic years.
Courses Distribution:
EXPECTED CAREER DIRECTIONS:
Graduates can work as actuaries, risk analysts, insurance underwriters, or data analysts in the field of actuarial science.
Programe Fees:
Kshs: 146,000 per Year