Actuarial Science

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List of Disciplines

Actuarial Science is the study of financial risk using mathematical and statistical tools. These strategies are used to plan, investigate, and calculate financial involvement for upcoming events. It also analyses mathematical models to forecast the likelihood of an event occurring so that businesses may plan for any costs that may result from the same occurrence.

Life insurance and pension schemes are the two most common uses of Actuarial Science. Actuarial Science approaches are used in the evaluation of financial organisations in order to evaluate liabilities and improve decision-making in money and finance. Since the emergence of high-speed computers and the combination of stochastic actuarial models with modernised financial claims, this science has seen several compelling advances.

Financial accounting, macro and microeconomics, calculus, risk models, and probability are among the topics covered in this study programme. Actuarial Science students develop strong mathematical, analytical, oral, and communication skills, as well as problem-solving abilities. They have a better grasp of how firms operate and how to avoid financial hazards.

Actuaries are insurance industry forecasters who are well-versed in mathematics, statistics, and capital and hazard theories. They compute and forecast the likelihood of future outcomes. All financial consequences with the potential for both risk and development are being carefully analysed in order to deflect and, if possible, avoid any conclusion that will result in a bad outcome. In other words, actuaries employ this research to preserve and safeguard a business.

Study Levels

Actuarial Science courses are available at the following levels of study:
Bachelor of Actuarial Science and Financial Mathematics
Bachelor of Actuarial Sciences
Bachelor of Arts in Finance
Bachelor of Business Administration
Bachelor of Commerce
Bachelor of Science in Mathematics and Physics
Bachelor of Science in Mathematics and Statistics
Bachelor of Statistical and Actuarial Sciences

Diploma in Actuarial Science
Graduate Diploma in Actuarial Science
Master of Actuarial Science and Financial Mathematics
Master of Actuarial Sciences
Master of Arts in Finance
Master of Business Administration
Master of Commerce

Master of Science in Mathematics and Statistics
Master of Statistical and Actuarial Sciences
Postgraduate Diploma in Actuarial Science
Ph.D. in Actuarial Science

Specialisation

This sub-discipline offers the following specialisations:

Actuarial Practically
Actuarial Method
Advanced Econometrics and Forecasting
Advanced Financial Economics
Alternative Investment Management
Asset-liability Management
Calculus
Climatology
Consulting
Contingencies
Corporate Risk Management
Data Analytics
Decision Analysis
Derivatives, Trading, and Hedging
E-Commerce
Economics
Extreme Event Statistics
Finance
Finance and Financial Reporting
Financial Economics
Fixed Income Portfolio Management
Fundamentals of Finance

General Insurance
Infrastructure
Insurance
Investment
Linear Algebra
Operational Research
Pension and Other Benefits
Probability
Real Estate Finance and Funding
Research
Risk Analysis and Modeling
Risk Management
Safety
Statistical Reasoning, Communication, and Ethics
Statistics
Stochastic Modeling
Superannuation
Technical Analysis
Technology

Employability

Graduates with a degree in Actuarial Science have all of the information and abilities needed to pass Actuarial examinations and become an Actuary. Aside from that, individuals have multiple job alternatives to pick from in a variety of disciplines. This line of employment is represented by the following career sectors: