Actuarial Science

Overview

Course content

Placements and internships

A key part of a Cass degree is the opportunity to gain professional experience working for a leading organisation. All Cass students are eligible to take either a short-term internship or a one-year placement programme as part of your degree.

The experience of working for a leading institution can be invaluable in terms of your future career. A professional placement will allow you to tailor your degree to combine a unique blend of theory and practice, acquire skills and competencies sought by graduate employers, and improve your chances of securing graduate employment; giving you an edge over the competition. Cass Business School fully prepares you for these placements, with a dedicated Placements Office to help you with CV's, interview techniques and tips on how to make a winning application.

Students on the BSc Actuarial Science programme enjoy a wide range of professional placements with leading actuarial institutions. For the year 2010-11, current students are placed in diverse areas such as corporate insurance and risk management, actuarial investment pricing and capital management, carrying out a wide range of disciplines including finding new solutions to challenges, analysing data and applying financial theory to solve business problems. - Analysing the cost of the risk, and how one might overcome the risk. Forecasting future financial problems with employers such as Aviva, Lloyds Banking Group, Zurich and HSBC Life and Pensions.

Study abroad

International study opportunities

In today's global business environment, international exposure gives you a vital edge in the employment market. A period of study abroad is an excellent opportunity to enhance your education with an international dimension.
Cass Business School gives you the opportunity to spend one-year or a term studying at one of our partner institutions. This could be in Canada or Spain.

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 2nd and 3rd year of study. This would add a year to your degree and you would complete your degree in 4 years.

Please note that teaching at the Universitat de Barcelona will be mainly in Spanish which would require appropriate foreign language skills.

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 does not form a part of your degree, however you will need to spend the full year studying and pass all assessments. Your degree certificate will state 'with Study Abroad'. The partner university will also provide you with a transcript of the modules you have studied there.

Credit for prior learning

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 Cass degree give you the opportunity to earn exemptions from eight of the nine core technical stage modules and of a total of thirteen of these professional examinations, as illustrated in the table below. Seven of these eight modules are compulsory modules (core).

Exemption modules - Core Technical

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

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

Entry requirements:

A-level: A*(maths)AA

BTEC NND: Distinction Distinction Distinction plus A-level Maths at grade A*

IB: 35 points overall including 7 in Higher Level Maths, 6 in all other Higher Level subjects and 5 in all Standard Level subjects.  Consideration will be given to 1 bonus point.

International Students: A comprehensive list of International equivalents to follow.

GCSE: Maths (grade A) and English language (grade C) or equivalent

If you are studying General Studies, Critical Thinking or a native language A-level then these subjects will not be included in any offer condition.

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.

TOEFL: 100 internet-based total with a minimum of 23 in all sub-tests.

GCSE: English language grade C

Application, fees, and term dates

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)
Course code: G322

You can find more information at UCAS and in the UCAS Handbook.

More information about applying to Cass

Fees

The fees for 2012 entry are:

• UK/EU students: £9,000 per annum

• Non-EU international students: £12,500 per annum

• Placement and study abroad students:
  If you are taking a professional placement or study abroad year, this forms an element of your degree and therefore you will be expected to pay a proportion of the standard year's tuition fees.

• Students who have already studied to degree level:
  UK and EU nationals who have already obtained a degree (BSc/BA or higher qualification, or equivalent) are no longer entitled to public funding (HEFCE). The tuition fee for these students will be charged at the international students rate.

Scholarships

New for 2012 entrants: Up to £ 3,000 cash each year for at least three years for students on this course. Read more here to see if you might qualify.

Term dates

Term dates for first year entry BSc students

Autumn Term: 19 September - 09 December 2011

Spring Term: 9 January - 6 April 2012

Summer Term: 30 April - 22 June 2012

Term dates for returning second & third year BSc students

Autumn Term: 26 September - 09 December 2011

Spring Term: 9 January - 6 April 2012

Summer Term: 30 April - 22 June 2012

Your career after Cass

The recent economic situation has increased the need for people with the skills to assess risk. Actuaries, and those with actuarial skills are still in considerable demand.

The majority of our graduates become actuarial trainees and study for the Institute of Actuaries' examinations. Others embark on careers in investment banking and investment management, or in accountancy, commercial banking, insurance and financial analysis. Some enter careers in management, computing and teaching, whilst others progress to postgraduate study, often on our MSc in Actuarial Management.

A career as an actuary can be very lucrative, as you naturally possess the skills and training that many do not have.

Details from the Institute of Actuaries recent study into average salaries across the sector:

Source: XpertHR Salary survey of actuaries and actuarial students 2009/10

The Careers Centre

All Cass students have the use of the Careers Service at City University London. The Careers service offers a wide range of services to students such as professional advice with job applications, CVs, covering letters and any career questions. They also organise mock interviews and psychometric testing, allowing you to practise answering relevant interview questions and then receive feedback on your responses.

In addition, there is the opportunity to attend specialist career guidance interviews, that can enable you to make a well-informed and realistic decision about your future career with an experienced advisor on a confidential one-to-one basis.