Actuarial Science, MSc, University College Cork (UCC)

About Actuarial Science, MSc - at University College Cork (UCC)

Overview

This course is designed for graduates of quantitative disciplines who want to kick-start a career in actuary. It provides a solid foundation in statistics, financial mathematics, economics and business finance. Upon completion of the course, your knowledge and skills could be applied to a range of industries in the financial services such as insurance, pensions, healthcare, banking, investment and risk assessment.

You will be equipped with mathematical and statistical knowledge and problem-solving skills to help businesses and institutions evaluate the long-term financial implications of the decisions they make. You will also have the opportunity to undertake a minor dissertation involving the study of a number of problems specific to the insurance and financial sector.

The Institute and Faculty of Actuaries has approved programme-level exemption status for the MSc programme in Actuarial Science at UCC in respect of their first 8 Core Technical subjects. Students may be recommended for exemption from the Institute's own professional examinations in up to 7 of these Core Technical subjects by performing sufficiently well in the corresponding examinations of the MSc programme. UCC is one of the very few universities in Ireland which can offer students the potential to receive this level of exemptions from the professional actuarial examinations.

Course Details

Programme Requirements

Part 1
Core modules (50 credits)
PA6007Market Analysis Methods for Actuarial Science (10 credits)
ST6001Theory of Annuities - Certain for Actuarial Science (10 credits)
ST6002Applied Financial Reporting Methods for Actuarial Science (10 credits)
ST6003Probability & Mathematical Statistics for Actuarial Science (10 credits)
ST6004Mortality Studies and Life Table Analysis for Actuarial Science (10 credits)

Elective Modules (10 credits)

ST6006Insurance Risk Modelling for Actuarial Science (10 credits)

or

ST6010Current Topics in Statistical Applications to Actuarial Science (10 credits).

*Were a student to enter the programme with sufficient background knowledge, as determined by the programme co-ordinator, in one of the above core modules, then that student would take both electives specified.

Part II
Core module (20 credits)
ST6009Application of Core Technical Research Methodologies in Actuarial Science (20 credits)

Elective modules (10 credits)
ST6005Life Contingencies for Actuarial Science (10 credits)
or
ST6008Applied Financial Modelling and Risk Stochastics for Actuarial Science (10 credits)

Part-time students take modulesST6001,ST6003andPA6007in Year 1 and the remaining modules, including electives where appropriate, in Year 2.

Fact File

Course Code: CKR46 Full-time & Part-time

Course Title: Actuarial Science

College: Science, Engineering and Food Science

Duration: 1 year Full-time; 2 years Part-time

Teaching Mode: Full-time, Part-Time

The part-time option will be taught during weekday working hours over 2 years.

Qualifications: MSc

NFQ Level: Level 9

Costs: 2017/2018 Irish/EU EUR 8,000. The part-time course fee is half the full-time fee in the particular year of study

2016 Entry Requirements:

2017 Entry Requirements: Minimum 2.2 honours primary degree in engineering, finance, physical or mathematical sciences, or equivalent, or a degree with a strong numerate content (as determined by the course committee). See also Detailed Entry Requirements.

Closing Date: See details in application procedure section below

Next Intake: 11th September 2017

Course Practicalities

The teaching methods used will be a combination of lectures, tutorials, computer practicals and directed study. You can expect to have approximately 22 hours per week of lectures, tutorials and directed study in semesters 1 and 2 and about 10 hours per week of directed study in semester 3.

Assessment

All taught modules in this course are assessed via a combination of end-of-module examination and submission of a portfolio of research and directed study.

For actuarial exemption purposes, the appointed actuarial independent examiner will base their recommendations for an exemption in the corresponding CT subject, on a student's performance in the final examination

For the research module (ST6009), you will study a number of problems, specific to the insurance and financial sector, and use the methodologies developed in the earlier modules to analyse such problems and produce oral and written reports on your work.

Application Procedure

Application for this programme is on-line atwww.pac.ie/ucc. Places on this programme are offered in rounds. The closing dates for each round can be found here. For full details of the application procedure click How to Apply.

All required documentation must be either uploaded to your online application, or sent in hard copy to The Postgraduate Applications Centre, 1, Courthouse Square, Galway, immediately after an application is made.

Please note that late applications will be considered after first round applications who meet the selection criteria requirements. Offers will then be made to late applications, if places are still available on the programme and if candidates meet the selection criteria requirements.

Further Contact Information

Michael Cronin,

Second Course Contact,

School of Mathematical Sciences,

E: [email protected]

T: 021-4205825 / 4205817

Notes about fees for this course

Costs: 2017/2018 Irish/EU EUR 8,000. The part-time course fee is half the full-time fee in the particular year of study

2016 Entry Requirements:

2017 Entry Requirements: Minimum 2.2 honours primary degree in engineering, finance, physical or mathematical sciences, or equivalent, or a degree with a strong numerate content (as determined by the course committee). See also Detailed Entry Requirements.

Closing Date: See details in application procedure section below

Next Intake: 11th September 2017

Entry requirements for this course

Contact University College Cork (UCC) to find course entry requirements.

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