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 degree programme.
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 insurance and risk management, actuarial pricing and capital management. Students have recently taken up placements with leading employers including:
- Association of British Insurers
- AXA IM
- Legal & General
- Lloyds Banking Group
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.
Host institution (Actuarial Science)
Located in the heart of Buenos Aires, UADE has exchange agreements with 40 partner universities around the world. You will take modules from the undergraduate Global Management degree.
Located in the bustling city of Brisbane, QUT was the first Australian university to gain 'triple crown' accreditation (EQUIS, AMBA and AACSB).
Giving you the chance to study in Australia's 2nd largest city, RMIT is one of Australia's original educational institutions. Their well-established business school allows students to choose from a wide-range of subjects.
WU has triple accreditation, one of only two German speaking universities belonging to this group. They have a well-established exchange programme, with around 240 partner universities around the world.
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.
Like Cass, HEC is triple accredited (EQUIS, AMBA and AACSB) and was the first school in North America to achieve this. There are opportunities to study in French or English.
Queen's School of Business has a rich history dating back to 1841 and is consistently ranked as one of Canada's leading universities. It welcomes over 300 exchange students every year from more than 40 countries.
Ranked in the top 100 for Financial Times MBA Rankings, Ivey provides a competitive combination of world-class teaching and modern facilities.
UBC is one of Canada's leading research universities and is consistently ranked in the top 40 of the world. Located 30 minutes from the heart of down-town Vancouver it attracts students from more than 140 countries world-wide.
Located in Beijing, Renmin Business School is both EQUIS and AACSB accredited. Their MBA programme is ranked in the top 50 in the world by the Financial Times.
You will take classes from the Antai College of Economics and Management, which was the first business school in mainland China to have been triply accredited by AACSB, EQUIS and AMBA. They have Bachelor programmes in Economics and Finance.
Like Cass, ESCP is triple accredited (EQUIS, AMBA and AACSB). The Paris campus is located in the centre of the city. The Masters in Management, from which you will take classes, is currently ranked 4th in the Financial Times rankings (2016).
Established in 1984 and situated in the thriving City of Grenoble, the School is ranked 27th in the Financial Times European Business School Rankings. There are opportunities to take classes in both French and English.
Established in 1907, ESSEC is one of the leading institutions in Europe for business education. Their BBA was the first programme in France to receive the prestigious AACSB and EQUIS accreditations.
University of Mannheim - The University of Mannheim Business School is highly ranked and has an excellent reputation. You will be studying modules from their Bachelor degrees in Business Administration and Business Education in either German or English.
TU Munich was named as the number 1 university in Germany in the QS World University Ranking 2016.
LUISS Guido Carli is a private Italian university located in the heart of Rome. You are able to study in either Italian or English and there is an intensive Italian language course available before the start of term.
RSM is consistently ranked in the top 10 business schools in Europe and has 'triple crown' accreditation (AACSB, AMBA and EQUIS). You will study all modules in English.
BI is the only Norwegian university with triple accreditation and has student exchange agreements with more than 200 institutions in 45 different countries.
NUS is ranked 1st in the QS Asian University Rankings 2016 and is one of the top 25 world ranked universities (Times Higher Education World University Rankings). More than 1,000 exchange students visit NUS each year.
Nanyang is ranked 54th in the Times Higher Education's World University Rankings. You will have the chance to study at one of Asia's most prestigious universities in the heart of Singapore.
SMU was founded in 2000 by the government of Singapore, modelling itself on an American style university structure. SMU has over 180 exchange partner universities around the world.
Situated in the heart of Madrid's financial district, IE Business School is ranked 1st in Spain and 5th in Europe (FT European Business School rankings 2015).
The school is located in Europe’s most international city and Spain’s second largest city, Barcelona. Like Cass, ESADE is triple accredited (EQUIS, AMBA and AACSB).
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.
HKU is consistently ranked in the top 50 world universities (Times Higher Education World University Rankings). You will be studying at their Faculty of Business and Economics.
HKUST is ranked in the top 5 Asian universities (QS Asian University Rankings 2016). HKUST Business School was the first school in Asia to be awarded dual accreditation by AACSB and EQUIS and offers 10 undergraduate business programmes.
SNU was founded in 1946 as the first national university of Korea. SNU Business School was also the first business school in Korea to be certified by the Associate to Advanced Collegiate Schools of Business (AACSB).
Set amidst the rural Midwest a couple of hours from Chicago, UIUC's College of Business is ranked amongst the top 10 of public institutions of higher education in the US.
Located near downtown Atlanta, Emory University Goizueta Business School's BBA programme is currently ranked No. 15 by both Bloomberg BusinessWeek and U.S. News & World Report.
Robert H. Smith School of Business, University of Maryland
Located in College Park, eight miles from The White House and downtown Washington, D.C. you will be studying at the Robert H. Smith School of Business whose undergraduate programme was ranked number 19 in the USA (2016 U.S. News & World Report).
The Ross School of Business has one of the top undergraduate business programmes in the USA, ranked #4 (US News & World Report, 2016). You will take modules from their Bachelor in Business Administration.
The McIntire School of Commerce is regarded as one of the best business schools in America. Their UG programme is #5 in the USA (Bloomberg Business Week, 2016). They are partnered with a select number of business schools around the world, with Cass being one of them.
Living and studying at RMIT Saigon South campus in Ho Chi Minh City will give you great opportunities to get immersed into a dynamic, multicultural and intriguing city.
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|
|Pension funds and social security||ST4|
Cass has 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 (or A* in 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||36 points overall, 6 Higher Level Mathematics, 5 minimum all other subjects.|
In addition to the above, a minimum of grade 5 (C) 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.
If you do not meet the qualification criteria for this course, you may still meet the criteria for our Actuarial Science Foundation year. The Foundation year is a one-year full-time programme that provides an entry route to the BSc Actuarial Science course.
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 of London
Don’t meet the entry requirements? INTO City, University of London offers a range of academic and English language programmes to help prepare you for study at City, University of London. You’ll learn from experienced teachers in a dedicated international study centre.
These programmes are designed for international students who do not meet the required academic and English language requirements for direct entry. To prepare for this degree course, learn more about the International Foundation in Actuarial Science.
Kaplan International College (KIC) London
Additionally, City 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 of London 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|
English Language Programmes
Don’t meet the English language requirements? INTO City, University of London offers English language programmes to help prepare you for study at university. These intensive and flexible courses are designed to improve your English ability for entry to degree courses.
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 of London)
Course code: G322
You can find more information at UCAS and in the UCAS Handbook.
- UK/EU students:
- Non-EU international students:
The tuition fee for UK and EU students is £9,435 for the first year of study (2018/19). Fees in each subsequent year of study will be subject to an annual increase limited to the Student Fees Inflation Index as determined by the UK Government’s Office for Budget Responsibility. This index is derived from the All Items Retail Prices Index. We will confirm any change to the annual tuition fee to you in writing prior to you commencing each subsequent year of study.
The tuition fee for Non-EU students is £17,000 for the first year of study (2018/19). Fees in each subsequent year of study may be subject to annual increase, as detailed above for UK and EU students.
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
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.