Who is it for?
You are a UK or EU student who excels in and enjoys mathematics, especially modelling and probability. You love asking “What if?”.
The skills you gain on the Actuarial Science Foundation course will kickstart your actuarial career. You can also enter careers in risk management, investment management or financial analysis.
The Foundation Year in Actuarial Science aims to provide students with a knowledge of Mathematics, Probability and Statistics, Accounting and Finance, Economics, IT and Computing sufficient to enable them to undertake an undergraduate degree in the area of Actuarial Science. These modules have been carefully designed to include material that they will come across should they successfully proceed onto the BSc Actuarial Science undergraduate degree programme.
In addition to providing students with the essential mathematical and scientific background necessary to progress onto the undergraduate Actuarial Science degree programme, 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, so that they achieve a sense of their competence as learners.
What will I learn?
The Foundation course has been designed to familiarise you with material that you will study in more depth in later years of the Actuarial Science degree programme.
The teaching style on the foundation course is different to that which you will encounter on the rest of the degree. The foundation course will have lower numbers of students than on the main degree programme and there is more continual assessment. This will help you to make the adjustment from the teaching style at most schools and colleges to the university style, which usually requires more self-study.
Unlike the other years of your degree, there is no exam period due to the use of continual assessment which takes the form of in-class tests and take home courseworks, which can be both individual and group based.
This will cover A-level maths and topics from A-level further maths. As you will have already studied A-level mathematics (or equivalent) we will focus more on the later topics such as calculus. The material in this module will prepare you for the first year Mathematics for Actuarial Science module.
Foundation probability and statistics
The probability and statistics module will assume that students will arrive with no knowledge of probability or statistics. The module will start with basic concepts such as summary statistics and basic probability and will develop these concepts to more advanced topics such as confidence intervals, hypothesis testing, regression and probability distributions.
Introduction to economics
This course will cover fundamental topics in both macro and micro economics. We will assume that you have not covered this material before and this module will help you prepare for the first year Economics module. This module will have an integrated study skills module which will develop your ability in such areas as note taking, essay planning, mind maps, etc. which will help both with this module and the rest of your studies and later employment.
Introduction to finance and accounting
This module will introduce you to concepts such as interest rates, discounted cash-flows, different types of investments and company accounts. The material in this module will prepare you for the Finance and Investment Mathematics module in the first year and the Fundamentals of Finance and Financial Reporting modules in the second year. It will also provide real world skills for the analysis of companies and investments.
Introduction to Microsoft Office Suite
This module is taught mainly on-line but supported with a weekly tutorial. Not only will this module prepare you for the Applications of Information Technology module in the first year and in addition will help with all your future studies where Microsoft Office products are used, as well as providing real life skills which will be attractive to employers.
Upon completion of the foundation year you will be able to choose which degree pathway you want: BSc Actuarial Science, BSc Data Analytics and Actuarial Science or BSc Finance with Actuarial Science. The types of career pathways that these degrees lead to can be found on the relevant webpages.
Some assessment is by coursework which you take home and complete with the aid of your notes. For year 0, there will be continual assessment using class tests but no large formal exams.
Percentage of the course assessed by coursework
The approximate percentage of the course assessment, based on 2017/18 entry is as follows:
0% written, 17% practical, 83% coursework.
Most contact hours take the form of lectures. A number of tutorials, exercise classes and surgery hours are scheduled during the year. Approximate study time based on 2018/19 entry is as follows:
28% scheduled learning, 72% independent learning, 0% placement.
For a full breakdown of the current and forthcoming academic year view our term dates page.
Course timetables are normally available from July and can be accessed from our timetabling pages. These pages also provide timetables for the current academic year, though this information should be viewed as indicative and details may vary from year to year.
Please note that all academic timetables are subject to change.
How to apply
All applications should be made through UCAS, the Universities and Colleges Admissions Service. Applications are made via Apply, UCAS's online application system.
UCAS Institution code: C60 (Cass Business School and City, University of London)
UCAS Course code: G320
You can find more information at UCAS and in the UCAS Handbook.
Terms and conditions
Students applying to study at Cass Business School are subject to City, University of London's terms and conditions.
Please note this course is only available to Home and EU students. For international students who do not meet the entry requirements for year 1 entry we recommend our affiliated foundation course providers INTO City, University of London and KIC London.
A-Level: B (Maths) BB
If you are studying General Studies, Critical Thinking or a native language A-Level, these subjects will not be included in any offer condition.
For A-Level applicants we also require a minimum of grade 5 (C) in GCSE English and grade 6 (B) in GCSE Maths.
IB: 29 points overall (not including bonus points) with 5 in Higher Level Maths (either Maths Analysis & Approaches or Maths Applications & Interpretation) and 5 in English (either Standard or Higher Level).
English language requirements
English language requirements
If your first language is not English, we will require evidence of English language proficiency. Minimum requirements are:
- GCSE: Grade C or 5
- IGCSE: Grade C
- O-Level: Grade C
- TOEFL (Test centre or iBT Special Home Edition): 92 overall (24 Writing, 23 Reading, 22 Speaking, 21 Listening)
- A-Level: Grade C
- Language Cert International ESOL: Language Cert B2 Communicator High Pass
- IELTS (Academic or UKVI): 6.5 overall with no less than 6.0 in any sub test
- Pearson Test of English (PTE) Academic: 59 overall with minimum 59 in each component
- International Baccalaureate: Grade 5 at Higher or Standard level
- Cambridge English Advanced (also known as Certificate in Advanced English): Grade C (180-192) at CEFR Level C1
- Cambridge English Proficiency (also known as Certificate of Proficiency in English): Grade C (200-212) at CEFR Level C2
- Cambridge English First (also known as Certificate of First in English): Grade A (180-190) at CEFR Level C1
This is an option on the BSc Actuarial Science course, to which you can progress upon successful completion of the Foundation year.
Partner institutions include:
This is an option on the BSc Actuarial Science course, to which you can progress upon completion of the Foundation year.
The tuition fee for UK students for this year is £7,000 in 2021/22.
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 majority of graduates of the BSc Actuarial Science degree, to which you can progress upon successful completion of the Foundation year, 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.
Recent employers have included EY, Travellers Insurance and Towers Watson. Some students progress to postgraduate study, often on Cass Business School's MSc Actuarial Management.