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Bachelor of Science in Actuarial Science

The document outlines the curriculum for a Bachelor of Science in Actuarial Science degree program. It describes the program objectives of training professionals for financial and insurance sectors. The 3-year program consists of core courses in mathematics, statistics, economics, and actuarial topics. Coursework is classified as core, elective, audited or prerequisite. Students must complete a minimum of 15 credit units but no more than 25 units per semester. The first year focuses on mathematics and statistics foundations. The second year continues developing skills in finance, accounting and actuarial topics. The third year covers specialized actuarial topics like insurance, investments and pensions.

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568 views2 pages

Bachelor of Science in Actuarial Science

The document outlines the curriculum for a Bachelor of Science in Actuarial Science degree program. It describes the program objectives of training professionals for financial and insurance sectors. The 3-year program consists of core courses in mathematics, statistics, economics, and actuarial topics. Coursework is classified as core, elective, audited or prerequisite. Students must complete a minimum of 15 credit units but no more than 25 units per semester. The first year focuses on mathematics and statistics foundations. The second year continues developing skills in finance, accounting and actuarial topics. The third year covers specialized actuarial topics like insurance, investments and pensions.

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BACHELOR OF SCIENCE IN ACTUARIAL SCIENCE (BSAS)

Introduction Types of Courses


Actuarial Science is a study of Insurance, Courses in the programme shall be classified
Statistics or Mathematics. The subject is as follows:
about applying mathematical, statistical and (a) A core course – one that must be
economic models to study and calculate risks registered for and passed by a student to
associated with insurance, pensions and other obtain a degree.
financial systems. The knowledge of Actuarial (b) An elective course – one that must
Science also enables one to interpret the be taken to make up the minimum
economic environment and make informed requirements of the degree.
decisions on future inflation, returns on (c) An audited course – one that a student
investment, stock market behaviour, exchange attends but is not examined in.
rates and economic growth. (d) A prerequisite course – is one that must
be taken before a related higher level
Objectives course and in which a student needs to
score at least 40 percent before moving
Overall objective to the next level.
The programme seeks to improve the quality of
personnel working in financial and insurance Course Credits
sectors. Instruction shall be by courses quantified into
course credit units.
Specific objectives
(a) A credit unit is granted for a series of
• To train professionals in Actuarial
fifteen contact hours or one contact hour
Science to work in many financial and
per week per semester.
insurance institutions in Uganda and
(b) A contact hour is calculated as being
East Africa as a whole.
equivalent to:
• To provide a strong background
- one lecture hour or
to people who are interested in the
- one tutorial hour or
Actuarial career.
- two practical hours or
• To meet the existing demand of financial
(c) No course shall carry less than one
and insurance institutions for actuaries
credit unit.
in East Africa.
• To upgrade the skills of those in the Full Time Study
financial and insurance industry. A full time student on the B.Sc in Actuarial
Science degree programme shall not carry less
Entry into Second Year than 15 credit units in a semester and not more
Entry into second year of the programme than 25 credit units per semester.
requires a special resolution of the Institute
Board of Studies and Senate. The Board of Curriculum
Studies may evaluate the courses done by The Programme shall consist of 42 courses,
individual candidates and work out appropriate one research project and a professional training
credit transfers which shall not exceed 40% of attachment. All courses will be core.
the minimum degree credit units.
Programme Structure
Programme Duration In the first year it is essential to provide a
The Bachelor of Science in Actuarial Science firm foundation for subsequent study. Since
degree programme shall run over a minimum actuaries need to be able to apply a wide range
period of three years. Each year shall consist of mathematical and statistical techniques,
of two semesters. most of the first year units are mathematics and
statistics courses. Details of the programme
Length of Semester structure are specified below.
A semester shall be 17 weeks – 15 weeks for
teaching and 2 weeks for examinations.

544
Year I: Semester I CU BPS 2206 Research Methods 2
ECO 1101 Introductory Micro Economics 3 STA 2206 Regression Analysis 3
SAS 1101 Principles of Development 3 STA 2210 Linear Programming I 3
MTH 1101 Calculus I 3 Recess term
MTH 1102 Linear Algebra I 3 Professional Training
SAS2301* 2
Attachment
STA 1101 Descriptive Statistics 3
TOTAL 44
STA 1102 Official Statistics
STA 1103 Time Series & Index Numbers 3 Year III
STA 1105 Introduction to ICT 3 The third year focuses largely on specialised
Semester II actuarial topics: Investment, Asset
Management, Life Assurance and Pensions.
ECO 1202 Introductory Macro Economics 3
These courses provide a good background and
Principles of Development a better understanding of the topics relevant to
ECO 1201 3
Economics
the actuarial profession. Four courses in third
MTH 1201 Calculus II 3 year will be electives. The list of third year
SAS 1201 Mathematics of Finance I 3 course units per semester is as follows;
SAS 1202 Accounting I 3
Semester I CU
STA 1202 Probability Theory I 3
SAS 3101 Demographic Statistics 3
STA 1203 Statistical Inference I 3 STA 3102 Multivariate Analysis 3
TOTAL CREDITS 42 STA 3103 National Accounts and Income 3
Year II Analysis
In their second year, the students are STA 3106 Demographic & Social Statistics 3
expected to continue developing their skills STA 3116 Industrial Statistical Modeling 3
in mathematics, statistics, financial subjects SAS 3102 Principles and Practice of 3
(Accounting) and actuarial subjects (Life Insurance
contingencies). Later these subjects are SAS 3103 Management Accounting I 3
allowed as exemptions from professional SAS 3104 Econometric Modelling 3
actuarial examinations. The list of second year SAS 3105 Project Appraisal 3
course units per semester is as follows: SAS 3106 Introduction to Sociology 3
Semester I CU Year III, Semester I total credit units 21
ECO 2101 Micro Economics 3 Semester II
MTH 2103 Differential Equations 3 MTH 3203 Linear Programming
MTH 2104 Linear Algebra II 3 SAS 3201 Investment and Asset 3
Management
SAS 2101 Mathematics of Finance II 3
SAS 3202 Life Assurance 3
SAS 2102 Life Contingencies I 3 SAS 3203 Pension Analysis 3
SAS 2103 Actuarial Data Processing 3 SAS 3204 Research Project Paper 5
STA 2106 Time Series Analysis 2 SAS 3205 Industrial Statistical Modelling 3
STA 2101 Probability Theory II 3 SAS 3206 Project Planning* 3
Semester II SAS 3207 National Accounts* 3
STA 3203 Research Project
ECO 2201 Macro Economics 3
STA 3215 Econometric Methods
MTH 2203 Linear Programming I 3
STA 3223 Operations Research
SAS 2201 Accounting II 2
Year III, Semester II total credit units 20
SAS 2202 Life Contingencies II 3 Year III Total credit units 41
SAS 2203 Statistics for Insurance 3
KEY
SAS 2206 Regression Analysis 3
* Select one

545

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