Undergraduate Degrees

BSc Actuarial Sciences ( N324 )

UCAS Course Code:: N324
Attendance:: Full Time
Award:: Degree of Bachelor of Science
School of Study:: Computing Sciences
Brochure:: Actuarial Sciences Undergraduate Courses (PDF)
Typical A-Level Offer:: AAA-AAB (including A in Maths)

Overview
Why Choose Us
Course Profile
Requirements
Fees and Funding
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Why take this course?

The BSc Actuarial Sciences is a three year programme aimed at studious applicants who wish to become actuaries. The course gives you the opportunity to gain exemptions for the first eight (CT1-CT8) professional examinations set by the UK Actuarial Profession.

This course is a multidisciplinary programme taught by staff of the School of Computing Sciences, School of Mathematics and the Norwich Business School at the University of East Anglia with additional input from industry. It provides you with a high-quality degree programme covering interrelating subjects including core mathematics, statistics, finance and economics, to enable you to become an expert in risk management. One of the strengths of the course is that it features a close collaboration with Aviva which participate in the teaching and provide placement opportunities. As an Actuarial Science student you will receive tuition from practicing actuaries on two different modules at the head quarters of Aviva.

This will allow you to appreciate the work of actuaries and to apply your knowledge from taught lectures to real world problems. The interaction with industry will also develop your transferable skills such as communication and analytical problem solving skills which in turn will enhance your employability.

If you do not meet the standard entry requirement for admission to the Actuarial Science degree, you may be offered a place on our BSc Business Statistics degree. These programmes have a common first year and, subject to adequate performance in year 1, you may be able to transfer to the second year of the Actuarial Science degree.

Contact time

Students have on average 15 hours of contact time per week with teaching staff through lectures, laboratory sessions and seminars, though this may vary depending on module choices. Additionally, students should allocate at least 25 hours per week for study, coursework assignments and projects.

Career opportunities

Students successfully completing the course should have no trouble in finding a well-paid position as an actuary in the UK insurance sector, though they could also pursue a career in Business Statistics or Management. Actuaries are always in demand, are very highly regarded and can command positions of responsibility in all business sectors.

Contact: admissions@uea.ac.uk

You will be taught by lecturers from the School of Computing Sciences, School of Mathematics and the Norwich Business School.
You will also be taught by practicing Actuaries on location at Aviva (the UK’s largest insurer).
Our Actuarial Science undergraduate degrees give you the opportunity to gain exemptions from the first eight (CT1-CT8) of the professional examinations set by the Actuarial Profession.
Our year in industry programme provides an invaluable introduction to working in the insurance and finance industry. You may also count this year towards the work based skills requirement of becoming a Fellow of the Institute and Faculty of Actuaries.
The facilities and student experience in the school are excellent. We have a range of different laboratories for students that cater for the different disciplines taught.
Our teaching is delivered in a variety of ways including lectures, laboratory classes, seminars and group projects. Our laboratory class and seminars are run with a 1-to-16 staff to student ratio ensuring you can obtain good support.
Much of our work is concerned with real-world problems and applications and we have excellent links with industry both for our teaching and research.

Compulsory Study (120 credits)

Students must study the following modules for 120 credits:

Name	Code	Credits
CALCULUS	MTH-1B2Y	30
(a) Differentiation and integration. Taylor and MacLaurin series. Applications: curve sketching, areas, arc length. (b) First order, second order constant coefficient ordinary differential equations. Reductions of order. Numerical solutions using MAPLE. Partial derivatives, chain rule. (c) Vectors and complex numbers. Line integrals. Multiple integrals including change of co-ordinates by Jacobians. Green's theorem in the plane. MAPLE integrated throughout. Students must have A-level Mathematics Grade 'C' or above or equivalent.
ECONOMICS FOR BUSINESS	NBS-1B4Y	20
This module addresses some of the key questions in business economics: How do individuals make decisions? How are the optimal decisions made using marginal analysis? What is the logic behind the internal organisation and structure of firms (vertical integration and diversification)? How does the macroeconomic environment impact on the firm? To answer these questions, it explores some of the central concepts and develops some of the methods used in economic analysis.
INTRODUCTION TO FINANCIAL AND MANAGEMENT ACCOUNTING	NBS-1A2Y	20
This module provides a foundation in the theory and practice of accounting and an introduction to the role, context and language of financial reporting and management accounting. The module assumes no previous study of accounting. It may be taken as a stand alone course for those students following a more general management pathway or to provide a foundation to underpin subsequent specialist studies in accounting.
MATHEMATICS FOR ACTUARIES	CMPC1F07	20
This module introduces key concepts in set theory, linear algebra and core financial mathematics for actuarial science or business statistics students. THIS MODULE IS RESERVED FOR STUDENTS ON ACTUARIAL SCIENCES AND BUSINESS STATISTICS ONLY. More...
PROBABILITY	MTH-1C34	10
Probability as a measurement of uncertainty, statistical experiments and Bayes' theorem. Discrete and continuous distributions. Expectation. Applications of probability: Markov chains, reliability theory.
PROGRAMMING FOR APPLICATIONS	CMPC1X04	20
This module gives an introduction to computer systems and to programming using Java. The module assumes no prior knowledge of programming and is aimed at the non-specialist. This module is an alternative pre-requisite for a number of second level CMP modules, including CMPC2M11 and CMPC2G04. More...

Compulsory Study (120 credits)

Students must study the following modules for 120 credits:

Name	Code	Credits
ACTUARIAL METHODS	CMP-2AV2	20
This module provides a further grounding in mathematical and statistical techniques of relevance to financial work. It considers risk models involving frequency and severity distributions and the concept of ruin. It also examines the fundamental concepts of rating, the use of Bayesian statistics to derive credibility premiums and the techniques for analysing “run-off” triangles in general insurance. Part of this module will be taught by Norwich Union actuaries and will focus on the practical application of actuarial techniques across a range of disciplines (life assurance, pensions and general insurance). We anticipate that successful completion of this module, as well as 2C10 and 2C11, will enable students choosing to follow an actuarial career to gain an exemption from CT6. The Norwich Union sessions will also provide a useful introduction and overview of the Actuarial Profession's “CA1” subject (Actuarial Risk management) and exposure to some of the later Specialist Technical actuarial subjects, particularly ST3 (General Insurance). More...
APPLIED STATISTICS B	CMPC2S12	20
THIS MODULE IS RESERVED FOR ACTUARIAL SCIENCE AND BUSINESS STATISTICS STUDENTS. This is a module designed to give students the opportunity to apply statistical methods in realistic situations. While no advanced knowledge of probability and statistics is required, we expect students to have some background in probability and statistics before taking this module. The aim is to cover 2 topics from a list including: Estimating population abundance, Extremes and quartiles, Bootstrap methods and their application, Sample surveys, Simulations, Subjective statistics, Forecasting and Clustering methods. The topics on offer may vary to cover the interests of those in the class. In addition there will be two fixed topics, one on Regression and one on survival analysis. More...
CONTINGENCIES	CMP-2AS2	10
This module provides a grounding in the mathematical techniques which can be used to model and value cashflows dependent on death, survival, or other uncertain risks. It considers the statistics associated with various life assurance contracts and the calculation of their premiums and reserves. The module closely follows the Actuarial Profession's syllabus for “CT5”, Contingencies, and it is anticipated that successful completion of this module together with the successful completion of the final year module CMP-3AS3, Further Contingencies, will enable students choosing to follow an actuarial career to gain an exemption from CT5. This module is restricted to Actuarial Science students only and is not available to students outside this course. More...
DIFFERENTIAL EQUATIONS	MTH-2C41	10
THIS MODULE IS RESERVED FOR STUDENTS ON U1N323401- ACTUARIAL SCIENCES AND U1G390301 - BUSINESS STATISTICS- Differential Equations: Fourier series. Partial differential equations (PDEs): diffusion equation, wave equation, Laplace's equation. Solution by separation of variables in Cartesian and polar co-ordinates. Ordinary differential equations (ODEs): solution by reduction of order and variation of parameters. Series solution and the method of Frobenius. Legendre's and Bessel's equations: Legendre polynomials, Bessel functions and their recurrence relations.
FINANCIAL ACCOUNTING	NBS-2A1Y	20
The general aim of the module is to study the theory and practice of financial accounting and reporting. This includes an examination of current and legal professional requirements as they relate to limited liability companies in the UK. Some international issues, for example in relation to the US and the European Union, are also considered.
FINANCIAL MATHEMATICS	CMPC2F07	20
This module builds on fundamentals of compound interest introduced in CMPC1F07 to show how the key concepts introduced can be used in practical financial applications for Actuarial Science or Business Statistics students. THIS MODULE IS RESERVED FOR ACTUARIAL SCIENCE AND BUSINESS STATISTICS STUDENTS. More...
STATISTICAL METHODS	CMPC2S11	20
This is a first course in statistics. It introduces the essential ideas of statistics deriving the necessary distribution theory as required. The aim of the course is to discuss the essential concepts in statistics rather than just to give a list of techniques for specific problems. The focus will be on developing ideas in distribution theory and inference based on the likelihood function. In consequence in addition to ideas of sampling and limit laws, it will cover maximum likelihood estimation and inference based on the likelihood ratio. If possible some Bayesian ideas will be introduced. While this course deals with concepts we shall aim to show how these are motivated by real problems More...

Compulsory Study (80 credits)

Students must study the following modules for 80 credits:

Name	Code	Credits
ACTUARIAL MODELS	CMP-3AV1	20
This module provides a grounding in stochastic processes and survival models and their applications. It also provides further exposure to the application of actuarial techniques in life assurance, pensions and general insurance, gives an update on current issues in each of these areas and a review of the professional environment for actuaries. Part of this module will be taught by Norwich Union actuaries and will focus on the practical application of actuarial techniques across a range of disciplines. We anticipate that successful completion of this module, as well as 3C12, will enable students choosing to follow an actuarial career to gain an exemption from “CT4” (the Actuarial Profession's Actuarial Models subject). The Norwich Union sessions will also provide a useful introduction and overview of the Actuarial Profession's Specialist Technical and Practice modules for Life Insurance (ST2 and P2), General Insurance (ST3 and P3) and Pensions (ST4 and P4). More...
ADVANCED STATISTICS	CMPC3C12	20
This module covers three topics in statistical theory. For this year they are Regression and Linear Model, Generalised Models and Non-parametric Methods. The first two topics consider both the theory and practice of statistical model fitting and students will be expected to analyse real data. The third topic is chosen to be a contrasting one. Non-parametric methods are a vital part of the statisticians armoury and cheap computing makes such techniques very powerful. We look at the traditional permutation based methods as well as the empirical distribution function. More...
BUSINESS FINANCE	NBS-2F2Y	20
The module critically examines contemporary financial issues from a business perspective. This is achieved through the linking of theoretical explanations of financial debates and phenomenon to real and applied business examples. This programme of study is directed towards developing consistent frameworks from which financial decisions may be made. Further it is proposed that such decisions may be undertaken and justified in light of their alternatives and implications for risk, return, firm strategy and the operating environment.
FURTHER ACTUARIAL TOPICS	CMP-3AS5	10
The use of stochastic techniques for modelling share prices, derivatives and interest rates are becoming increasingly important tools for the actuary. This module introduces stochastic models for valuing options and guarantees inherent in some insurance contracts. It considers the properties of different models of asset returns and how these are used to value options and guarantees. It also expands on the application of Statistics within General Insurance with particular reference to Ruin Theory and Credibility Theory. This module is restricted to Actuarial Science students only and is not available to students outside this course. More...
FURTHER CONTINGENCIES	CMP-3AS3	10
This module provides a compulsory module for actuarial students. Together with CMP-2AS1, students taking this module will have covered all the material in the Institute of Actuary's syllabus CT5. THIS MODULE WILL NOT BE RUNNING UNTIL 2011/12. More...

Option A Study (40 credits)

Students will select 40 credits from the following modules:

Name	Code	Credits
BUSINESS AND COMPANY LAW	NBS-2B2Y	20
This module provides an introduction to contract and company law. It is designed primarily for students on Accounting related degrees who intend to pursue a career in the accountancy profession. The module should also be of interest to students contemplating a career in business or commerce.
BUSINESS SKILLS FOR MANAGERS	NBS-2B8Y	20
This module encourages the development and understanding of management and the skills of management that will stand the student in good stead for a future career in business and management. A range of key management skills, including ethical judgement, evaluating and controlling, creative problem solving, designing work, influencing culture, leadership, motivating others, managing change, delegating, managing one-to-one relationships, leading groups and influencing. These skills are practiced with underpinning knowledge and theory provided through the lectures. Use is made of a sophisticated, Internet-based, business simulation game set in a high-tech industry to tie together a series of related decisions and outcomes over time. This game gives students experience of the application of new technology for group decision making. Seminars provide the opportunity to put these skills into use by means of interactive exercises and a group project.
DATABASE SYSTEMS	CMPC2B08	20
This module covers most aspects of databases, database manipulation and database management systems. The module is mainly based on the relational model, although other models are also discussed. The students will explore the tools and methods for database design as well as the programming of database applications. Part of the practical experience gained will be acquired using a modern commercial relational database management system. Students will also gain programming experience using SQL, and using the Java JDBC interface. A high level language programming module is a pre-requisite. More...
ECONOMICS FOR INTERNATIONAL BUSINESS	NBS-2B4Y	20
This module develops understanding of the international economy. In Part 1 it considers international trade. We ask who benefits from trade, who it can harm, and relate our insights to the current debate about globalization. In Part 2 we consider currency markets, the central banks, interest rates, exchange rates, and the balance of payments. Part 3 turns to multinational firms, asking why they have grown so fast, and what is their impact.

Disclaimer

Whilst the University will make every effort to offer the modules listed, changes may sometimes be made arising from the annual monitoring, review and update of modules and regular (five-yearly) review of course programmes. Where this activity leads to significant (but not minor) changes to programmes and their constituent modules, there will normally be prior consultation of students and others. It is also possible that the University may not be able to offer a module for reasons outside of its control, such as the illness of a member of staff or sabbatical leave. Where this is the case, the University will endeavour to inform students.

Entry Requirements

A Level:: AAA-AAB (including A in Maths)
International Baccalaureate:: 34-33 points overall inc. HL Mathematics at Grade 7
Scottish Highers:: AAAAA-AAABB (including Maths)
Scottish Advanced Highers:: AAA-AAB (including Maths)
Irish Leaving Certificate:: AAAAAA-AAAABB (including Maths)
Access Course:: See below
European Baccalaureate:: 85-80% overall (including Maths)

Students for whom English is a Foreign language

We welcome applications from students from all academic backgrounds. We require evidence of proficiency in English (including writing, speaking, listening and reading). Recognised English Language qualifications include:

IELTS: 6. overall (minimum 5.5 in any component)
TOEFL: Internet-based score of 78 overall (minimum 20 in Speaking component, 17 in Writing and Listening components and 18 in Reading components.
PTE: 55 overall (minimum 51 in any component).

If you do not meet the University's entry requirements, our INTO Language Learning Centre offers a range of university preparation courses to help you develop the high level of academic and English skills necessary for successful undergraduate study.

Interviews

We interview all applicants.

Gap Year

We welcome applications from students who have already taken or intend to take a gap year, believing that a year between school and university can be of substantial benefit. You are advised to indicate your reason for wishing to defer entry and may wish to contact the appropriate Admissions Office directly to discuss this further.

Special Entry Requirements

Grade A in A Level Mathematics or equivalent.

Intakes

The School's annual intake is in September of each year.

Alternative Qualifications

We encourage you to apply if you have alternative qualifications equivalent to our stated entry requirement. Please contact us for further information.

Pass the Access to HE Diploma with Distinction in 45 credits at Level 3, including 12 Level 3 credits in Mathematics.

GCSE Offer

Students are required to have Mathematics and English Language at minimum of Grade B.

Fees and Funding

Undergraduate University Fees

We are committed to ensuring that Tuition Fees do not act as a barrier to those aspiring to come to a world leading university and have developed a funding package to reward those with excellent qualifications and assist those from lower income backgrounds. Full time UK/EU students starting an undergraduate degree course in 2013 will be charged a tuition fee of £9,000. The level of fee may be subject to yearly increases. Full time International students starting an undergraduate degree course in 2013 will be charged a tuition fee of £14,400. The level of fee may be subject to yearly increases.

Scholarships and Bursaries

Home/EU - The University of East Anglia offers a range of Bursaries and Scholarships. To check if you are eligible please visit http://www.uea.ac.uk/study/undergraduate/finance/university-financial-support

International Students

The Actuarial Sciences course has 4 £2,000 year one scholarships available for 2013 entry. The Scholarship deadline is 15th January 2013. Please contact the Admissions office at cmp.ug.admiss@uea.ac.uk for more information.

The University offers around £1 million of Scholarships each year to support International students in their studies. Scholarships are normally awarded to students on the basis of academic merit and are usually for the duration of the period of study. Our University international pages gives you more details about preparation for studying with us, including Fees and Funding http://www.uea.ac.uk/international

How to Apply

Applications need to be made via the Universities Colleges and Admissions Services (UCAS), using the UCAS Apply option.

UCAS Apply is a secure online application system that allows you to apply for full-time Undergraduate courses at universities and colleges in the United Kingdom. It is made up of different sections that you need to complete. Your application does not have to be completed all at once. The system allows you to leave a section partially completed so you can return to it later and add to or edit any information you have entered. Once your application is complete, it must be sent to UCAS so that they can process it and send it to your chosen universities and colleges.

The UCAS code name and number for the University of East Anglia is EANGL E14.

Further Information

If you would like to discuss your individual circumstances with the Admissions Office prior to applying please do contact us:

Undergraduate Admissions Office

Tel: +44 (0)1603 591515
Email: admissions@uea.ac.uk

request a copy of our latest prospectus and subject brochures
get access to exclusive information personalised to your interests
keep up to date with news and events at UEA.

International candidates are also actively encouraged to access the University's International webpages.