1st in London, 4th in the UK for Accounting and finance (Guardian University Guide 2017)

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.

Course content

Foundation year

The Foundation Year in Actuarial Science aims to provide students with a knowledge of Mathematics, Probability and Statistics, Economics, I.T. and Computing sufficient to enable them to undertake an undergraduate degree in the area of Actuarial Science.

In addition to providing students with the essential mathematical and scientific background necessary to commence on the Actuarial Science course, there is an integrated study and communication skills component. This, together with considerable tutorial support, aims to encourage the development of the students' awareness of the learning process and to foster their intellectual development, in order that they achieve a sense of their competence as learners

Year 1

In the first year, you will study six core modules that provide the foundations for later study in actuarial science, including two significant mathematics modules and introductory courses that assume no prior knowledge of the respective subjects.

Six modules (six core and no elective)

Core modules:

  • Applications of information technology
  • Financial & investment mathematics
  • Introduction to actuarial methods
  • Introduction to economics
  • Mathematics for actuarial science
  • Probability & statistics 1

Year 2

In year two, the focus moves from mathematics to actuarial science and statistics and probability. Core modules include Financial reporting, Contingencies and Stochastic models.

Eight modules (six core and two elective)

Core modules:

  • Actuarial practicality
  • Calculus & linear algebra
  • Contingencies
  • Finance & financial reporting
  • Probability & statistics 2
  • Stochastic models

Elective modules - choose two from:

  • Alternative investment management
  • Corporate risk management
  • Decision analysis
  • Derivatives, trading and hedging
  • Financial economics
  • Risk analysis & modelling

Final year

In the final year, four core modules will allow you to develop an in-depth understanding of actuarial and statistical subjects, while a wide range of electives covers actuarial science, statistics, business, economics and languages. You will also undertake a final year project in an area relevant to your interests and ambitions.

Eight modules (four core and four elective)

Core modules:

  • Advanced contingencies
  • Final year project
  • Statistics & probabilistic modelling for insurance
  • Survival models

Elective modules - choose four from:

  • Advanced financial economics
  • Asset-liability management
  • Business forecasting
  • Extreme event statistics
  • Financial forecasting
  • Fixed income portfolio management
  • General insurance
  • Investment
  • Life and health insurance
  • Operational research
  • Pension funds & social security
  • Real estate finance & funding
  • Statistical reasoning, ethics and communication
  • Technical analysis

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 corporate insurance and risk management, actuarial pricing and capital management. Students have recently taken up placements with leading employers including:

  • Association of British Insurers
  • Aviva
  • 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.

Study abroad

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)


University of Waterloo

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.


Western University

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.


Chinese University of Hong Kong

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 yearBSc (Hons) Actuarial Science at Cass modulesCore 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
  Stochastic Models CT4a
  Contingencies CT5a
  Financial Economics CT8a
Part 3 Survival Models CT4b
  Advanced Contingencies CT5b
  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 modulesSpecialist Technical Stage modules
Part 3 Life and Health Insurance ST1/ST2
  General Insurance ST7/ST8
  Pension Funds and Social Security ST4

Teaching Style

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%.

Entry requirements

Qualification Requirement
'A' level A* (Mathematics) AA
Tariff152 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 QualificationWe 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 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.

Foundation course

If you do not meet the qualification criteria for this course, you may still meet the criteria for our Actuarial Science Foundation course. The Foundation course is a one-year full-time programme that provides an entry route to the BSc Actuarial Science course.

International students

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:

Qualification Requirement
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

View further information about the minimum acceptable English language requirements for Tier 4 students.

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. Learn more about INTO’s English for University Study programme.

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.

More information about applying to Cass

Fees 2017/18

  • UK/EU students: £9,250 per year (fees in subsequent years may be subject to increases (limited to the Retail Prices Index) dependent on governmental policy)
  • Non-EU international students: £16,500 per annum (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
  • auditing
  • commercial banking
  • insurance
  • financial analysis
  • management
  • 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.

See what our BSc (Hons) Actuarial Science graduates are doing six months after completion of the course.