Quantify your future. Postgraduate studies in Actuarial Science leading to a Postgraduate Diploma or MSc
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MSc/PgDip Actuarial Science
Programme overview Actuaries are highly skilled professionals who are concerned with the quantification, analysis, and management of various types of financial risk. Their expertise is essential to the proper management of insurance companies, pension funds, and investment firms and their skills are very highly regarded and valued throughout the financial services industry worldwide. This programme aims to: −− provide quantitative graduates with the opportunity to undertake an intensive and coherent programme of specialist education in actuarial science −− give students an opportunity to gain exemptions from all the eight Core Technical professional examinations (CT1-8) of the Institute and Faculty of Actuaries, the UK professional actuarial body −− prepare students to enter employment as actuarial analysts with advanced professional standing.
The University of Southampton is one of only three universities in England to offer such a comprehensive professionally recognised full-time postgraduate actuarial science programme, and is the only one within the Russell Group of elite UK universities. On graduation from the programme with a number of exemptions from the internationally recognised CT1-8 professional examinations, starting salaries of the order of £25-30k might be expected and on completion of the remaining professional examinations salaries of £60k are not uncommon. Entry requirements and scholarships The programme is aimed at well qualified students in a quantitative subject (mathematics, statistics, economics etc). For details on entrance requirements and generous scholarships please visit the website: www.southampton.ac.uk/mathematics
Graduation from the programme equips you with a number of exemptions
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PgDip Structure (9 Months: October – June) Modules chosen from the list below (each 15 CATS points) to total at least 120 CATS points and at most 150 CATS points. Up to 30 CATS points may be chosen from approved alternative modules in related cognate areas. Choice of modules dependent on prior knowledge, professional examination passes, or exemptions.
Exemption Mapping Professional Subject
University Module(s)
CT1 Financial Mathematics
MATH6131 Financial Mathematics
CT2 Finance and Financial Reporting
MANG6225 Accounting and Finance for Actuarial Science
CT3 Probability and Mathematical Statistics
MATH6122 Probability and Mathematical Statistics
CT4 Models
DEMO6014 Survival Models MATH6128 Stochastic Processes
Semester 1 Economics Probability and Mathematical Statistics
CT5 Contingencies
MATH6130 Actuarial Mathematics II CT6 Statistical Methods
STAT6075 Statistical Methods in Insurance
CT7 Business Economics
MATH6121 Economics
CT8 Financial Economics
MATH6127 Mathematical Finance
Financial Mathematics Survival Models Actuarial Mathematics I Semester 2 Accounting and Finance for Actuarial Science Statistical Methods in Insurance Mathematical Finance Stochastic Processes Actuarial Mathematics II
MATH6129 Actuarial Mathematics I
For each CT subject the criterion for achieving exemption status is the attainment of a threshold mark in the corresponding module(s). This is set by the Independent Examiner of the Institute and Faculty of Actuaries (IFA) who scrutinises each student’s performance and makes exemption recommendations to the IFA. The threshold mark is usually in the range 60-65 per cent but may be raised or lowered at the discretion of the Independent Examiner. Where two modules contribute to a CT subject the average of the two module marks is used to determine exemptions.
MSc Structure (Additional 3 Months: July – September) As above for PgDip structure, with the addition of an Actuarial Science Project (60 CATS) over the summer months and completion of a corresponding Dissertation. Satisfactory completion of PgDip is required to progress to MSc.
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www.southampton.ac.uk/maths/postgraduate UK and EU enquiries: actenquiry@southampton.ac.uk +44 (0)23 8059 7342 International enquiries: global@southampton.ac.uk +44 (0)23 8059 9699
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