As the longest established Actuarial Science degree in England, the course combines studies in mathematics, probability, statistics and economics, leading students to develop a set of skills in financial risk management that are in high demand across the industry.
The BSc (Hons) Actuarial Science degree involves the application of quantitative skills to problems in finance that normally involve risk or uncertainty. This course is ideal for those who excel in and enjoy mathematics, in particular modelling and probability, especially those who like asking "What if?".
It will equip you with the skills to become an actuary and also offers a good starting point for those who want to use their skills in risk management, investment management or financial analysis. The course offers eight exemptions from the Institute and Faculty of Actuaries' professional exams.
We are proud that Cass Business School's Faculty of Actuarial Science and Insurance has been awarded The Worshipful Company of Actuaries' Award of Honour, in recognition of its excellent contribution to the actuarial profession over the last 30 years.
BSc (Hons) Actuarial Science is available as a three-year degree or four-year degree for those who wish to take up a one-year work placement sandwich option, which offers excellent opportunities to gain relevant work experience to prepare you for your career, and to make contacts in the business world. Students also have the option to take up a study abroad sandwich year at one of our highly respected partner institutions.
Placements and internships
A key part of a Cass Business School
degree is the opportunity to gain professional work experience. BSc
Actuarial Science students are eligible to undertake an optional
one-year paid work placement during the 3rd year of a four-year sandwich
The experience of working for a leading institution can be invaluable in terms of your future career. It will enable you to acquire skills and competencies sought by graduate employers, and give you an edge over the competition.
BSc Actuarial Science students enjoy a wide range of professional placement opportunities in areas such as corporate insurance and risk management, actuarial pricing and capital management. Students have recently taken up placements with leading employers including:
- Association of British Insurers
- Friends Life
- Legal & General
Our reputation, achievements and successful graduates have helped us to develop close relationships with a diverse range of companies, who recognise that Cass students can add significant value to their workforce. Our dedicated Placements team are in regular contact with these and many more companies, and will support students throughout the work experience process.
Although this additional year is not credited and will not count towards your degree classification, it is a recognised part of the degree programme and will be endorsed on your final degree certificate.
Available study abroad programme structure and partner institutions
Sandwich Year Abroad
You can spend a year of your degree course studying at one of our partner institutions, between your second and third year of study. This would add a year to your degree so you would complete your degree in four years.
You can also choose to combine your study overseas with a work placement, which involves spending six months studying and the remaining six months working. You would be expected to organise your own placement, although some of our partner schools may be able to help you.
This additional year of study will not count towards your degree classification. However, your degree title will state that you have studied abroad and the partner university will give you a transcript of the modules you have studied there.
Please note that other partners will be considered for Actuarial Science students on a case by case basis.
Host institution (Actuarial Science)
For 19 years in a row, Waterloo has been named Canada's most innovative university in the Maclean's annual university reputational rankings. The Department of Statistics and Actuarial Science at Waterloo is among the top academic units for statistical and actuarial science in the world and is home to over 900 undergraduate students.
Founded in 1878, Western University is one of Canada's oldest universities. The Department of Statistical and Actuarial Sciences offers specialised undergraduate degrees in Actuarial Science, Financial Modelling and Statistics.
CUHK is ranked fifth in the QS Asian University Rankings 2011.The 137 hectare campus overlooking Tolo Harbour houses a range of facilities such as world-class libraries, art museums, music halls, a swimming pool, sports fields, tennis courts, squash courts, a water sports centre and gymnasiums.
In order to qualify as an actuary, you will be required to pass the professional examinations of the Institute and Faculty of Actuaries. Specific modules in all three years of the BSc Actuarial Science degree give you the opportunity to earn exemptions from eight of the nine core technical stage modules, as illustrated in the table below. Seven of these eight modules are compulsory (core).
Exemption modules - Core Technical
|Study year||BSc (Hons) Actuarial Science at Cass modules||Core Technical Stage modules|
|Part 1||Financial & Investment Mathematics||CT1|
|Probability & Statistics I||CT3a|
|Introduction to Economics||CT7|
|Part 2||Finance & Financial Reporting||CT2|
|Probability & Statistics II||CT3b|
|Part 3||Survival Models||CT4b|
|Statistics and Probabilistic Modelling for Insurance||CT6|
|Advanced Financial Economics||CT8b|
Some of the optional final year modules also give an excellent introduction to five of the Specialist Technical Stage subjects from which the remaining professional examinations are selected. Although they do not qualify you for exemptions, they give you a significant head start.
Introductory modules - Specialist Technical Stage
|Study year||BSc (Hons) Actuarial Science at Cass modules||Specialist Technical Stage modules|
|Part 3||Life and Health Insurance||ST1/ST2|
|Pension Funds and Social Security||ST4|
We have more than 100 full time academic staff, complemented by over 25 visiting lecturers, who combine expertise with successful careers as business leaders, policy makers and/or government advisors. Our academic team works with businesses, alumni and leading thinkers to devise and update our course content so that is relevant and specific to market realities.
Our teaching style is based on encouraging you to think independently, to form your own opinions and critique relevant theory. We underpin your learning with the pertinent theories in your field embed with real life practices so you understand the way modern markets and businesses operate. Our courses offer numerous practical applications (or have a strong vocational element) without compromising their academic rigour. We use case studies, thought provoking scenarios and group work to give you a head start in the real world.
Each module will be a mix of lectures, seminars and group work. Most modules are assessed by a combination of exams and coursework. The first year of your programme contributes 10% to your final degree classification, the second year 30% and the final year 60%.
|'A' level||A* (Mathematics) AA|
|Tariff||152 UCAS points (typically A*AA or A*(Mathematics) AB with a relevant EPQ|
|BTEC NND||Distinction Distinction Distinction plus 'A' level Mathematics or a science at grade A*|
|Extended Project Qualification||We welcome applications that include the EPQ. Where relevant, this may be included in our offer, resulting in 'A' Level offer reduced by one grade.|
|IB||35 points overall including 7 in Higher Level Mathematics, 6 in all other Higher Level subjects and 5 in all Standard Level subjects. Consideration will be given to 1 bonus point.|
In addition to the above, a minimum or grade 5 in GCSE English is required.
If you are studying General Studies, Critical Thinking or a native language 'A' level, these subjects will not be included in any offer condition.
We accept a wide range of international and other UK qualifications at Cass.
If you do not qualify for direct entry, there are several partners that offer preparatory international foundation courses for students seeking entry to undergraduate degrees. These include:
INTO City University London
Together with INTO University Partnerships, the University has established a purpose-built study centre in the heart of London's financial district. As a student enrolling at INTO City you will have full access to City University's facilities. Courses at INTO City are designed and validated by the University. For more information please visit www.intohigher.com/city
Progression to degree courses at the University is guaranteed if you complete the INTO City Foundation at the required level.
Kaplan International College (KIC) London
Additionally, the University works in partnership with KIC London to provide a range of preparatory courses for international students. KIC London courses offer comprehensive support to students - including regular one-to-one tuition. Students who successfully complete the KIC London Foundation course at the required level are able to progress to City University degree courses.
English language requirements
If your first language is not English, we will require evidence of English language proficiency. Minimum requirements are:
|IELTS||6.5 with a minimum of 6 in any unit|
|PTE Academic||58 overall with a minimum of 50 in each component|
|GCSE||English language grade 5|
Application and fees
All applications should be made through UCAS, the Universities and Colleges Admissions Service. Applications are made via Apply, UCAS's online application system.
Institution code: C60 (Cass Business School and City University London)
Course code: G322
You can find more information at UCAS and in the UCAS Handbook.
- UK/EU students: £9,000 per annum (2016/177 fee; 2017/18 TBC)
- Non-EU international students: £16,000 per annum (2016/17 fee; 2017/18 TBC) (fees may increase in subsequent years in line with the Retail Prices Index)
Your career after Cass
The majority of our graduates become actuarial trainees and study for the Institute and Faculty of Actuaries' examinations. Others embark on careers in:
- Investment banking and investment management
- commercial banking
- financial analysis
- computing and teaching.
Graduates earn an average salary of £30,000 (Unistats) after graduation and recent employers have included KPMG, Deloitte and Towers Watson. Some students progress to postgraduate study, often on Cass Business School's MSc Actuarial Management.